I don’t know if I’m the best person to ask for financial advice (this is more for Randell Tiongson) but allow me to share some of my experiences and challenges with regards to the topic. Before I buy anything I usually just ask myself two questions. The first is can I afford it and the second one is will it help me be more productive. When I bought my car a few years ago I didn’t have too much cash in the bank but I had a steady and okay monthly salary. I knew that I really needed a car then because that was the time I started meeting potential clients for my initial foray into consultancy. I did some pencil pushing and I was confident that I could pay for the monthly amortization since the combined revenues of freelance plus my payroll was good enough.
Low Down payment and long term means high interest
One of my biggest regrets with that particular decision was that I opted for a long payment term and low down payment. The monthly fees were manageable but if you take a look at the entire deal I was actually paying a lot of money for the interest which jacked up the price of the car. In an ideal scenario, I would have just saved up money to make a good down payment (or just by second hand) so that I would be able to save more in the long run.
Also don’t just expect to pay for the monthly amortization. You have to set aside budget for car repairs and maintenance (and not to mention the gas).
If the car will make you more productive and you can really afford it, then go go go! 
Getting capital for business
I’ve had two major experiences when it comes to setting up my own business. The first was I just brought in a lot of investors to fund a 4M internet cafe across Katipunan. Revenues were good but the partnership turned sour and the cafe was eventually sold and friendships were brutally damaged (lol). I learned my lesson there to pick partners that I can trust. My next business was the fruit of my hard work – financially and professionally. My consultancy business now wouldn’t be where it is if it wasn’t for the networking and money which was brought to me by being in corporate for 4 years.
In a few months I’ll be launching more projects but this time around I have partners that I can trust and that share my vision. Ultimately if you can’t raise the money yourself by saving, you’ll have to rely on your network and your relationships to make your dreams a reality.
Oh here’s a tip. You can opt to be an industrial partner when you incorporate. Just buy your stocks at 30%-50% less the actual amount (if your partners agree but you have to run the business).
Hope I made sense in this entry. Lol!
