jasontoh,

<< I have colleagues who are saving about 90% of his/her net salary monthly (no cars, ptptn payment at the most minimum, and worst of all don't even think of getting a better life for parents). But to me, what is the point of skimping your meals and lifestyle while you do not enjoy it and share it with your love ones?I rather run the extra miles, so that I can share the happiness with others.>>

You are in the under 5K group. So, you cannot even imagine or understand about people that make

A) 5K to 10K

B) Above 10K

For people that make a lot of money from their salary,

A) They can enjoy a middle class life style as long as they are NOT too luxurious

B) They can save a lot of money

C) They can invest a lot of money and be rich in the process.

I know a couple. Both husband and wife make above 10K per month. Wife drive a Proton Wira. Husband drive a 100K car. They live a a reasonable life style. They eat at GOOD RESTAURANT. They are FRUGAL. They lived a middle class life style even though they could afford a lot more. They spent their money on European vacations.

1) Husband has 2 millions alone in the company pension. So, even if he saves NOTHING, he retired with 2 millions. But, he probably has more than 1 millions or more in current asset.

2) Wife alone probably has 1+ million in savings and assets.

So, DO YOU THINK that they care about free lancing and side income?? They spent more time on investing their money and doing their job.

But, they are FRUGAL. Most people in above 10K level spent a lot more in car, house and other luxury stuff. For them, they took vacation to Europe regularly. You could not tell from the house and car that they have. They are the quiet millionaires.

My POINT is this. Some people can be RICH within their box.

Dreamer


This post has been edited by dreamer101: Jan 25 2010, 12:52 AM

Well, as you have already mention, I'm still in the <5K group. So, earning more money and getting more source of income is inevitable.

Btw, I do not believe living FRUGAL will make us RICH. We can just can go through the life without much problem, but the upside is limited. Another thing is 1M or 2M nowadays are peanuts compare to the olden times. So 1M or 2M doesn't make people RICH, at least RICH in my context.

jasontoh,

<<, I do not believe living FRUGAL will make us RICH. We can just can go through the life without much problem, but the upside is limited. Another thing is 1M or 2M nowadays are peanuts compare to the olden times. So 1M or 2M doesn't make people RICH, at least RICH in my context.>>

1) If a person has 1M to 2M of investment, the person is a lot richer than just going through life without problem.

<<Another thing is 1M or 2M nowadays are peanuts compare to the olden times>>

2) Sour grapes....

<<but the upside is limited. >>

3) Dependent on how a person invests....

My definition of RICH is as per RDPD's definition. If a person can live off their investment, maintain their life style without working, the person is rich. This couple is about at that stage. So, they are RICH.

Ditto, in my definition, a FRUGAL person can become RICH faster than a non FRUGAL person.

Dreamer

lately saw many new cars on the road, is there a fall in the car loan interest rate that "instigate" people to buy new cars?

anybody noe what is the interest rate for 2nd hand myvi??? loan 20k and duration 4 years. The dealer told me is 3.75% but just wondering issit all the same for all banks

hi guys ..i m planning buy new myvi next mth ....i m planning to loan for 7 years ( my salary is about Rm2k , so 7 years instalment is the best i can do ) ....

can i know what is the interests rate in market now ? for the loan processing, the dealer will help me to process it or wat ? sorry i m new n really noob in car field...

hope anyone can advise me or offer any suggestion

Bro, talk about interest rate ler, forget about who isrich or you earn more i earn less thingy,

be it 2k, 5k or 10k if you think with 1k you're rich then enjoy it, enjoy your life ......

if you think invest in prop, stock, forex, gold, made you rich, happy - please continue.

i'm getting 2.79% from Pbb for Nissan 5 years.

any idea wat is the rate for 2nd hand toyota car ?

ok woR....for 5years
i quote a fren of mine at eon bank for 5years is 2.85% while 2.8% for 7years honda city

Hey guys, care to explain these interest rates below? I'm using national car as an example.

Why is a new car's interest rate 3.5% for 5 years (Min Fixed Rate (p.a. flat)) while a used car's interest rate is 5.75% (Min Net Effective Rate (NER))?

What's the difference between Min Fixed Rate and Min Net Effective Rate?

depends on bank & year of payment

I got mine for 3.75% from PBB (5years)- second hand toyota

bought mine back in the 2004. interest was 4.75% !!! damn high.. sheeeh

btw i though car loan dont have BLR one?

This post has been edited by lokideangelus: Feb 25 2010, 04:06 PM

guys, if i buy a 2nd hand nissan
and estimated 7yrs or 9yrs load
wht the lowest interest can get now?

still going on?
looks like a nice deal..
what's the term when u made the deal?

2.7% 9yrs for peugeot from maybank

Perodua / National cars i think is standard.
5 yrs - 3.25%
7 yrs - 3.5%
9 yrs - 3.75%.

I got mine at RHB 9 yrs 3.75%.

Help?

not sure
coz different dealer will give different rate

Hi guys,

I will buy a new myvi soon, would like to know, let say i will change car 4-5 years later, should i get longer loan? or shorter? pay more down payment or less?

because i was told that if you take longer loan, u rugi less when u change car later, and some said the opposite pula...

can any one tell?

thx

hi there,
just wan to share my experience.

i got 2 cars..1st is Myvi SE (April 2007)..i get it loan bout RM48k/3.88% (RHB) with 6yrs repayment..

and recently (Feb 2010) i brought another Perdana V6 2002 with RM31.5k/3.5%(PBB) with just 4yrs repayment..


as new car i dunno is it control by Bank Negara..but as 2nd hand car the interest can discuss with bank..coz 1st they give me 3.6% per annum..then i with the branch manage sit down discuss n bargain..finally he gave me 3.5% per annum for 4yrs loan..it is consider cheap??