Buying Car Without Financial Burden

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%.

Buying Car Without Financial Burden

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.

6 thoughts on “Buying Car Without Financial Burden”

  1. 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.

  2. 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

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