How to read a car price list and quotation in the PH

Price lists and dealer quotations in the Philippines follow a common pattern, but the details change by brand, by casa and by month. This guide explains each line you are likely to see, which ones are fixed by law and which are negotiable, how promos work, and what to check before you pay a reservation fee. It applies to cars and motorcycles; we flag where they differ.

Lowest car SRP in our catalogue (Toyota Wigo J M/T, Nov 2026)

₱615,000

Median gasoline or diesel car SRP in our catalogue

about ₱1.57M

Three-year CTPL premium for a private car, taxes included

₱1,610

Yamaha Mio i125 SRP, a popular 125cc scooter

₱75,900

How much is a car in the Philippines?

Brand-new cars start at about ₱615,000 (Toyota Wigo J M/T, November 2026), and the median gasoline or diesel car in our catalogue is about ₱1.57 million. For motorcycles, mainstream 125cc scooters like the Honda Click125 Standard (₱83,000) cost under ₱100,000.

Those are SRPs. The amount that leaves your account is higher once registration, insurance and financing costs are added, and lower if a promo discount applies. Start with the SRPs in cars and motorcycles, or the cheapest cars, then use the rest of this guide to turn an SRP into a real number.

What does SRP mean, and what does it include?

SRP means suggested retail price, set by the brand's Philippine distributor. It is the price of the unit itself, the same at every authorised dealer unless the dealer discounts it.

What the SRP normally already includes:

• 12% VAT. Philippine retail prices are quoted VAT-inclusive.
• Excise tax. Under the TRAIN Law, cars pay 4% to 50% of the net manufacturer's or importer's price, depending on the bracket. Hybrids pay half and purely electric cars are exempt. The tax is built into the SRP, never added as a separate line.
• Factory-standard equipment for that variant, as shown in the spec sheet.

What it normally does not include:

What is the difference between SRP and dealer price?

The dealer price is what the casa will actually sell you the unit for after discounts. It can be lower than the SRP, especially at month-end, for older model-year stock, or during brand promos. It should not be higher than the SRP for the unit itself.

Brands advertise national promos (check promos); individual dealers may add their own discount or freebies on top. Two dealers selling the same variant can therefore quote different totals. Get written quotes from at least two casas and compare the bottom line, not the freebies.

How do "all-in downpayment" promos work?

An all-in downpayment is a single upfront figure that covers your downpayment plus the first fees of a bank or in-house loan. The usual contents are LTO registration, first-year comprehensive insurance and the chattel mortgage fee.

The catch is arithmetic. Every peso of that amount that pays fees is a peso that does not reduce your loan. A low all-in figure therefore means:

1. a smaller real downpayment,
2. a bigger amount financed, and
3. a higher monthly installment, often at a higher rate, because lenders price low-downpayment loans as riskier.

Ask the agent to split the all-in figure into its parts. The real downpayment is what is left after subtracting registration, insurance and the chattel mortgage fee.

How do cash discounts and promo freebies compare?

A cash discount reduces the price you pay; a freebie adds something you may or may not want. Promos often give straight-cash buyers the largest discount and financed buyers a smaller one, or freebies instead.

Read the promo fine print for:

• Who qualifies: cash only, specific banks only, or in-house financing only.
• Which variants and colours: the advertised discount may apply to one grade.
• Validity: the promo period, and whether it is based on reservation date, bank approval or release date.
• "Free insurance": one year only, or for the whole loan? What will year two cost?
• "Free registration": does it include CTPL, and for how many years?
• "Low monthly": at what downpayment, term and rate?

Compare offers as total cost: cash out on day one plus all monthly payments. Run the financed side through the car loan calculator, and read add-on rate vs effective rate before comparing bank rates.

Worked example: breaking down a car quotation

Below is a made-up quotation for a ₱1,000,000 car bought on a 60-month bank loan with 20% down. Only the structure is real; the fee amounts are illustrative, so replace them with the figures on your own quote.

Now the same car on a "₱99,000 all-in downpayment" promo. If registration, chattel mortgage and insurance still total ₱55,000, the real downpayment is ₱44,000, and the amount financed jumps from ₱784,000 to ₱936,000. You pay less today and noticeably more every month for five years.

The chart below shows the monthly payment and total interest by term for this example, using the median published rate in our lender data.

Term	Monthly	Total interest
12 months	₱70,658	₱47,896
24 months	₱37,237	₱93,688
36 months	₱26,119	₱140,284
48 months	₱20,635	₱190,480
60 months	₱17,402	₱244,120

Average of the total add-on rates published by the lenders we track for each term (6 or more lenders). Estimates, not offers; fees such as chattel mortgage and insurance are extra.

What should you check before you sign or pay a reservation?

Work through the quote in this order.

1. 1

   Confirm the unit

   Exact variant, model year, colour and transmission, and that the SRP matches the official price list.

2. 2

   Get it itemised

   Ask for every charge on its own line: registration, CTPL, comprehensive insurance, chattel mortgage, accessories, delivery.

3. 3

   Separate the promo

   Note the discount or freebies, who qualifies, and the promo's validity date in writing.

4. 4

   Read the loan disclosure

   The Truth in Lending Act requires the lender to state the amount financed and finance charges in writing before you commit.

5. 5

   Check loan fees

   Ask about late-payment penalties, early payoff fees and insurance renewal rules for the whole loan term.

6. 6

   Pin down release

   Get the release date of the unit, plates and OR/CR in writing, plus the reservation refund policy.

Loan fine print matters as much as the price. PSBank's published auto loan fees, for example, include a ₱10,000 early settlement processing fee (waived near the end of the loan), a 5% per month penalty on late installments and ₱3,000 for late submission of an insurance renewal. Other lenders differ, so ask for the fee schedule. Compare lenders on financing.

What are the red flags on a car or motorcycle quote?

Walk away or push back if you see any of these.

• No itemised quote. A single "all-in" or "processing" figure with no breakdown hides padding.
• Mandatory accessories. Tint, matting or a dashcam package you did not ask for, presented as required.
• Insurance tied to the dealer. The lender may require comprehensive cover, but you can ask whether your own insurer is accepted.
• CTPL priced far above the regulated rate. Three-year CTPL for a private car is ₱1,610 and ₱720 for a motorcycle.
• A price above SRP for the unit, often blamed on "high demand" or a specific colour.
• Vague release dates. LTO policy since October 2025 is that plates and OR/CR should be released when the unit is turned over.
• A rushed reservation with no written refund terms, or pressure to pay before you see the bank's approval and disclosure statement.

This guide is general information, not financial advice. Fees and promos change often, so confirm every figure on your written quote with the dealer and the lender.