Guides & Tips

First-Time Car Buyer Checklist Philippines (2026)

By Richard Cuagdan, Mitsubishi Sales Executive · 2026-10-21

Your first car is a big milestone, at ang excitement minsan nauuna sa plano. Before you sign anything, go through this list. It takes one evening and can save you years of financial stress.

1. Know the true cost of ownership

The monthly amortization is only part of it. Add these to your budget:

• Fuel: estimate your weekly kilometers, then multiply by current pump prices.
• Insurance: comprehensive insurance renews every year after the first.
• PMS: preventive maintenance at the intervals in your owner's manual.
• Parking: at home, at work, and wherever you go often.
• Tolls: if you use NLEX or the skyways regularly.
• Registration: brand-new dealer-registered cars now get a longer first registration, but renewals still come later. See my LTO rules 2026 checklist.

If the monthly plus these costs still leaves room for savings and emergencies, that's a healthy plan.

2. Make sure you have a garahe

Check where the car will sleep at night. Many LGUs and subdivisions enforce rules against street parking, so settle this before release day.

3. Test drive before you decide

• Seat position and visibility: can you see the corners of the car?
• Ease of parking and turning in tight streets
• Transmission feel (manual vs automatic or CVT)
• Rear seat space if you'll carry family or officemates
• Cabin noise and AC performance on a hot day

4. Understand your financing

Most new-car buyers use bank financing, which is always subject to bank approval. Ask about the term, what the package includes, and the total amount you'll pay over the life of the loan. My car financing guide explains the basics, and Zero DP vs low DP covers the trade-off between paying upfront and a lower monthly.

5. Read the inclusions

Promo packages are often "all-in": registration, insurance, chattel mortgage and freebies. Ask for the list in writing. Here's what all-in usually covers.

6. Complete your documents

Requirements depend on whether you're employed, self-employed or an OFW. Here is the full car loan requirements list. Having everything ready speeds up approval.

Why the Mirage G4 is a common first car

The Mitsubishi Mirage G4 is a compact sedan with a 1.2L gasoline engine (78 PS, 100 Nm), offered in manual and CVT. It's easy to park around SJDM and Metro Manila and is the most affordable entry into the Mitsubishi lineup, with an official SRP starting at ₱793,000 (MMPC price list as of August 2026).

Related reading

• Bank vs In-House Financing for Cars in the Philippines
• Paano Bumili ng Bagong Sasakyan: Cash o Financing
• New Driver Tips Philippines: Your First Months Driving

See also: the Mirage G4 downpayment and monthly guide.

Your next step

Ticked everything? Check which unit fits your income, then book a test drive at our SJDM showroom.

Check what fits my budget Book a Test Drive

Questions muna? Message me anytime, walang pressure. Financing is subject to bank approval.

Frequently asked questions

What documents do I need for a car loan in the Philippines?

Usually two valid IDs and proof of billing, plus income documents: certificate of employment and payslips or ITR if employed, business registration and bank statements if self-employed, and contract and remittance proof if you're an OFW. Each bank has its own list.

Is the monthly amortization the only cost of owning a car?

No. Budget for fuel, insurance renewal, preventive maintenance (PMS), parking, tolls and registration renewal on top of the monthly.

Bank financing or in-house financing?

Bank financing is the common route for new cars and is subject to bank approval. In-house or dealer-arranged options can differ in requirements and terms, so compare the total cost, not just the monthly.

Is the Mirage G4 good for a first car?

It's a common choice: a compact 1.2L gasoline sedan that's easy to park and among the most affordable units in the Mitsubishi lineup.