A lot of people are willing to pay more for something that better meet their lifestyle and these people feel that driving a luxurious car is important, and they’re willing to carry the burden.
Actually I have planned to buy a new car without using my fixed employment salary. How to achieve that? Using my extra earning from Internet to make monthly payment for a new car. This is my challenge and perhaps next year will be the most suitable time to buy a new car.
Assumed that the car that I plan to buy is MYR40k. Down Payment that im willing to make will be MYR20,000-MYR25000. Lets take MYR20k, and get loan amount MYR20k for 7 years with interest rate 3.8%.
As a smart driver, we are not only know to drive in smarter way but we also need to have smarter financial planning to own a car. We should consider some other factors besides monthly payment + car loan interest amount + fuel cost to be paid. Other factors like insurance fees, maintenance & repair (for if the car not in well operation condition) and sales tax should be taken into account.
As you can see, quite a lot of money went toward interest. This means a total of MYR 2,810 was spent on interest. It is approximately MYR400 per year.
2,810 for 7 year is not expensive, each year additional paid RM400 for the interest which able to enjoy a 4 wheel life style
I agree with iCalvyn that rm2810 for 7 years is not expensive. If you have the money, just straight pay 100%, no need to take loan.
Government also announce exemption of 100% tax for hybrid car in Budget 2009. Maybe you can consider hybrid car.
very wise of you to consider maintenance costs & insurance costs!
your posts are improving!
keep up the good work!
=D
shall i add viper blade to the maintenance cost? asooo…the perfume to make the car smell nice ..ahhhhaaa…
see that wasnt hard..
Paa..Maaa.. Auntie,unkle…look im in cyberr cafeeee..woooohooooo
How much you make form your blog that you are willing to buy a car next year? 🙂 I think about buying a car but don’t even think to earn money from blog just my salary.
Great!! Thank you for useful information.