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 Personal financial management, V2

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goldfries
post Dec 1 2010, 04:53 PM

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cheapest viva DP 10% then stretch to 11 years. no choice, want cheap monthly means pay more long term. easiest to afford since a few months work would be enough for the DP, then every month allocate about 10% - 15% for the installment.
goldfries
post Feb 7 2012, 03:26 AM

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QUOTE(NNathan @ Feb 6 2012, 03:16 PM)
Opinion; which plan is better for 22-year-old earning roughly RM2000. Spend half salary on sedan like Vios so that when loan is settled in 7 years (and presumeably get married and maybe have 1 kid), no need to upgrade car coz the car size will be just right for that age/position title coz maybe manager by then. Hence save a lot of salary when car loan settled..... or buy according to means now, like Viva etc, then upgrade every 4-5 years according to changing salary/job title/family needs etc?
buy based on what you need. A Viva would suffice, or better yet, the basic model of Proton Saga.

that said, your decision to buy car should not be based on your salary but based on what's left of your salary after your monthly costs.

From the amount left, decide how much to allocate for saving. That other amount can be allocated to your car purchase.

It is advisable that car loan repayment to be not more than 1/3 of your salary, and it is recommended to have as much % left of your salary as possible.

RM 2k for Vios is suicidal, regardless of how much you have left after monthly costs.
goldfries
post Feb 8 2012, 03:09 AM

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Grand Livina is not a Sedan. smile.gif

And who says one have to upgrade every few years? A simple Saga could last years, even for family usage it's fine.

You only drive to work what, no one really cares what you drive unless you're doing sales and hope that your ride can impress.

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