Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 Should We Buy Car With Cash?

views
     
T231H
post Jul 20 2015, 12:52 PM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(hpomen @ Jul 20 2015, 12:20 PM)
Buy car with cash! DAMN RICH!
the only 1 thing you have to take note:
Make sure you pay enuff for your KWSP. Your income must be tally with the car you paid and the amount you pay for your KWSP. Else people from KWSP will look for you! Then you will in trouble.
*
hmm.gif Why does people from KWSP want to get themselves involved?
T231H
post Jul 20 2015, 01:53 PM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(cwtien @ Jul 20 2015, 01:06 PM)
I think he meant, and I'm sure you know, it's IRB/LHDN instead of KWSP smile.gif.
*
oh,...that is why i am wondering...
btw,..i guess it also depends on the amount of the cash paid for the car.
a friend of mine did not have income tax..just bought a RM 35k new car with cash 2 years ago..till now...no issue. thumbup.gif
T231H
post Jul 20 2015, 08:37 PM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(eddyooi @ Jul 20 2015, 08:25 PM)
what if i sold my house and made 300k profit

and my wife buys a car for cash rm150K

my wife can show the money is from me as i old the house?
any way lhdn to disturb?
*
found this while googling.......
Gifts
Gifts tax does not exist in Malaysia. Estate duties were repealed since 1stNovember 1991.
Gifts between spouses, parent and child, or grandparent are deemed to be zero gain on loss transaction.

http://hasil.family.my/investment-income-a...gains-taxation/

No inheritence and gift tax in Malaysia?, Tax free for assets transfer to child?
https://forum.lowyat.net/topic/1479601/all

This post has been edited by T231H: Jul 20 2015, 08:37 PM
T231H
post Jul 21 2015, 09:35 AM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(eddyooi @ Jul 20 2015, 08:25 PM)
what if i sold my house and made 300k profit

and my wife buys a car for cash rm150K

my wife can show the money is from me as i old the house?
any way lhdn to disturb?
*
eddyooi....here it is.....

QUOTE(cherroy @ Jul 21 2015, 08:25 AM)
Between close family member, there is no tax for asset transfer.

There is no inheritance tax in Malaysia.
*
T231H
post Jul 26 2015, 07:09 PM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(j.passing.by @ Jul 26 2015, 06:59 PM)
If you mean 80 as in age... then the only way not to join is to die young.  whistling.gif

With major advancements in medical science, it will not be uncommon to live beyond 100...
*
rclxms.gif
hmm.gif but, with
no other investment except in ASXs and saving in FDs
no leverage to try to generate more returns
no insurance coverage.....
I think I would like to die young too.... biggrin.gif
(pun intended...hope you get my meaning...lol)
T231H
post Jul 27 2015, 09:21 AM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(ic no 851025071234 @ Jul 27 2015, 09:07 AM)
If I have 120k then put the money in fd earning 3.5% while taking loan and paying for the car maybe cost 100k while the interest for car only 2% more worth it right? I earn extra 1.5% after deduct loan interest

I mean don't take out the 120k but pay the loan from income.
*
hmm.gif pls read post# 133
T231H
post Jul 27 2015, 10:01 AM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(ic no 851025071234 @ Jul 27 2015, 09:29 AM)
Ya I read the post then I understand the bank earn higher interest in terms of % based on the later balance due to lower amount and flat interest.

But if calculate based on total ringgit value it earn higher by just put bank. I do a calculation on loan street with flat interest 100k 2.5% for 5 yrs end up need to pay rm112500 total.

If fd compound interest same scenario but interest rate 3.5% I will end up having rm118768.

My scenario is based on not touching the fd money and I pay the loan based on extra income 1k a month or whatever the loan requires. Like that better right?
*
assuming need to pay RM 112500 / 60mths (5yrs) = RM1875 per month
if this RM1875 are not used to pay the bank loan but are used to put into the bank a/c that earns 3.5%pa
in the end of 5 years you get...RM124 800

which are more than the RM100k+ int you deposited into the FD (RM118768) and more than your total loan amount (RM112500)
so do you still think that it is still a "gain" to take a RM100k car loan and pay the monthly installment with money from the other source of income and keep the existing RM 100k available money in FD to earn interest?

I used a calculator online
http://www.bankrate.com/calculators/saving...lator.aspx?MSA=

This post has been edited by T231H: Jul 27 2015, 10:28 AM


Attached thumbnail(s)
Attached Image
T231H
post Jul 27 2015, 10:20 AM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(cherroy @ Jul 27 2015, 10:13 AM)
Assuming 100k FD at 4%.
Interest that can generate for you with car monthly repayment 1875.

(as compared to pay off in cash)

.......
In fact, the final 5th, the interest can be generated is less than Rm400.
*
Pls read post # 142
T231H
post Jul 27 2015, 03:22 PM

Look at all my stars!!
*******
Senior Member
5,143 posts

Joined: Jan 2015
QUOTE(sootienann @ Jul 27 2015, 01:41 PM)
conclusion:

A ) buy a bmw with 1.38% interest rate
or
B) take a car loan and put your money in ASB
*
rclxms.gif just like what was said in post# 153 ?

QUOTE(xuzen @ Jul 27 2015, 12:18 PM)
.......
If you take the loan instead of paying cash and used the money instead to  put your cash in FD @ 4% p.a. = you are a sor hai!

If you take the loan instead of paying cash and used the money instead to  put into real investment and say get 10% p.a = you are a W1NN4R!

Understand?

Xuzen
*
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0242sec    0.16    7 queries    GZIP Disabled
Time is now: 7th December 2025 - 12:47 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.