I agree with you. That's why i bold the word 'extra' for her.

In my case, i'd set aside the money for my investments then only i bother about my debts.
I'd get the return from my investment to cover the interest of my debt.

Tinker, the TS is another guy. The Honda civic guy is a cut-in.
As for Solse, she's also a cut-in. She wants to buy a P2 Kenari and I was just sharing my opinions with her.

Why is it ridiculous? Now I'm confused..

Ok, you are right. Ai.. have to plan a lot. Consider everything.

Thanks.. But for this early stage, I'll invest on car first la..
Senang bergerak. Thank you for the reply.

Yes. I agree.

Quoting on what you've mentioned, u will be earning more than 2k in the course of 7-9 years. So can I say that you start with 2k?
Since you have to pay the car loan since year 1, you're not gonna pay it 7 years after right?
So you plan on what you can afford by now. As of present date.

I'm sure my earnings will be more than RM50K a mth after 5 years, but i plan my cashflow as of now.


You got your point.
all in all is know how to manage your own cash flow.

---

Added on January 18, 2010, 12:27 pmCar is never an investment. At least for me.
Property is.

If your car can produce extra income for you, then it's a good vehicle.

This post has been edited by cheez: Jan 18 2010, 12:27 PM

Whoa.. Many opinions here. 50k a month? What is your job ya? Orang kaya ni..
I'm new in this kind of things, to discuss about cars, loans, investment.
Will have to evaluate the plan again for sure.

just plan where u are now .. and where u are in 5 years time..
can u cope with paying a car loan at the moment + petrol and maintenance..
how big a spender are u <-- this sentence sound weird to me.. lolz
ok .. how much will u spend monthly on other stuffs..

buying a car is probably ur biggest investment now.. the truth.. 2nd biggest investment behind your property..

I laughed at that too.. Hm, I seriously think I should start change my habit in spending.
Been quite boros. Is it ok for newbie to take on house loan?

On what purpose you wana take on a house loan? For own stay? For investment?

When you don't have a proper plan before investing, I'd advice you don't.
Investing should be based on evaluations and analysis because by the end of the day, you decide how much money your current money will generate. It should not be based on emotions.

Investments come with risks, but if the risks are well calculated, It'll be less risks.

Hi, just wanna find out the best interest rate in town my my 2nd hand car purchase as below,

Made/Model: Honda Accord 2.0
Year: Registered year 2005
Car price: RM86,000.00
Wish loan amount: 90%
Year of loan: 5-7 years depends on the rate

Can anybody know what bank can offer the best rate? As heard from my friend, Public Bank and Maybank are offer 3.75% for 5 years and 3.85% for 6 years - 7 years and it's control at the fixed rate by Bank Negara. Is it true and this consider very low rate in town?

Thanks in advance.

Interest rates for new local cars are fixed by the BN.

As for 2nd cars, i think it depends.
Best you call up to ask the HP loan dept at the banks.
Best to start with the banks that you have accounts with.

Be informed that the rate that they quote you might not be the final rate you get.

Hope it helps.

Some people can pay in cash but most of them don't do that because they are afraid of LHDN come knocking their doors


I've been hearing many people saying this but i kind of doubt if it is true because last time when my mom bought her Proton Waja, the interest rate was around 3.70% with the exception from EON Bank. It also seems to me that every dealers will quote you different interest rate. Mom finally took the offer from EON Bank (just 2.9%).

Miles, but your case is 2005 wor. Right?
Now is dy 2010. Somemore we had economic depression (If there were any) last year.
So it wouldn't be a surprise if they're fixed.

it was changed last year..
when i almost get another car.. forgot what date..
the salesman told me that on Monday they will changed the rate to higher ones.. he said not to force me to put a booking or something.. at that time was a sunday..
anyway.. on monday the rate did changed to higher.. 3.xx% .. that was just after exora launched i think..
dat's y after that lotsa ppl bash that the gov want to protect national car again..

so conclusion.. i think it's mid 2009..

Yes. That was back in 2005 But we bought another car again in 2008. This time we bought a Proton Persona and RHB Bank offered the lowest at 3.40%. All others quoted us 3.75%.

How many years?
Myvi for 9 years i knw is 3.75%.

Hi, I have checked with PBB and Maybank HP dept and both banks also offer me 3.75% rate for 5 years loan. No more negotiation. For AMBANK, it's 3.9% according to the HP dept.

I have applied the loan with 2 banks which I will see if which bank can approve the loan earlier.

Thanks anyway, bro for the information.

Well, the rate that you get i think is quite good gua.
2nd hand car aged 5 years. Foreign car somemore.

Btw, 2nd hand car are not fixed that's y diff bank offer diff rate.

5 years.

my father's plotong wira last for 15 years

new foreign car for now is 2.5 %

I'm irritated by how everyone is lamenting how a car is a liability etc etc in the past few pages. Don't be stupid. Its an investment alright. Its an asset in its own right.

Just because it doesn't bring in cashflow directly doesn't mean it doesn't bring you benefits indirectly. Its just like saying "My factory workers are liabilities.. I'm paying them but they don't bring in money for me. Only my sales department is bringing in the revenue". Padahal if you have no factory workers, your manufacturing collapses, and therefore your business dies.

So don't be stupid. A car will transport you back and forth to and from work. Having a car will open up your career options, employment options. Having a car will increase your customer outreach if you are doing your own business.

PS : Having a car might even score you a partner that is looking for someone that can provide. And that, is a lifetime investment in its own right! :@

PS2 : But how big/expensive/fancy a car you are willing to get is up to individual desires.