How much I need to earn so that ..., TQ
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 Oct 24 2011, 01:25 AM
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#1
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Junior Member
75 posts Joined: Jan 2009  
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The best survival method is, car price < annual salary. That way you should be safe. Assuming your car costs rm100k, your annual salary should be more than your car price. this formula should be safe if you have gf / pay rental / own food / own maintenance etc etc. Just my opinion.
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Oct 24 2011, 02:28 AM
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#2
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Junior Member
75 posts Joined: Jan 2009
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QUOTE(rest @ Oct 24 2011, 01:34 AM) This is something that wow me. If dirext divide which mean each month need to earn 8k something. Thanks!  QUOTE(writeprotect @ Oct 24 2011, 02:03 AM) Hah? So salary rm5k only can get myvi only la... If using ur formula. Hehehe just to be safe, with tons of money more to spend for your other commitments + savings. if you're buying a myvi with 7 years loan, monthly installment should be about 700~900 i think, you have about 4k to spend on your other expenses + savings, isn't that good? But I'm also want to know, what is the minimum salary to submit for loan to buy 100k car? Is it many or not people that earn </= 5k buy 100k car in Malaysia? Tq well this applies to people who 'as long as got car drive, can already'... this is how i think though, so for me, property > cars. as someone said previously, cars = liability, not asset. |
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Oct 25 2011, 02:53 AM
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#3
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Junior Member
75 posts Joined: Jan 2009
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QUOTE(twincharger07 @ Oct 25 2011, 12:16 AM) Herm.. financial talk in FnF again..? Buying a car lesser than your annual salary will definitely save you from the maintenance costs that WILL kill you. The thing about why people love buying luxury cars.. its mainly for satisfaction. Good advise... buying car based on your annual salary will be considered safe... my car is lesser than my annual salary... Others will call ppl like us crazy and give lame excuse like "how the country gonna sustain if everyone lowering their debts or buying cheaper car"... Bolehland is one country where most ppl think it is normal to buy a car worth much more than our annual salary... placing too much debt on a liability.. I was amazed to see so many foreign cars are getting more and more in KL... cant even get a parking in Midvalley and Sunway, so many new foreign car models with new number plates... Msian getting richer and richer? or I guess more like getting into more and more debts.. Anyway... Dealers and manufacturers are doing a great job in marketing and branding to create temptation enticing the public... Bolehland will be forever prosperous with so many youngsters contributing the government taxation and banking's interest so long they dont go into default...  I know its crazy, earning rm10k a month, but only enough to afford a civic 2.0, but at the end of the year, savings itself also got more than rm10k. must look at everything in the long run, not the short run. |
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