RM 100k, assuming 10k downpayment, 3% interest, 9 year loan.

Monthly payment = RM 1058.

Minimum salary for loan approval RM 3100 - 3200.

Another 2k every year for road tax & insurance (Assuming no NCD), plus another sum for servicing depending on what brand you buy.

This post has been edited by dares: Oct 23 2011, 05:56 PM

42 Malaysias go bankrupt everyday thanks to car debt and credit card debt. You'd think everyone would learn something from these statistics.

Not just to pick up girls.

Actually alot of people that I know who buy new expensive rides work as sales agents especially in the insurance / finance field.

There are two reasons why a) They feel that they need an expensive car to impress their customers who also drive big conti cars and b) Peer pressure from fellow agents in their agency, who always park all their BMW or Porsche together and take picture then show it around to new recruits.

Incidentally, many of these agents don't actually earn that much and they also struggle to maintain their cars. One of the ones I know earn less than 10k a month but just bought a BMW 5 series (>RM300k) .

This post has been edited by dares: Oct 31 2011, 12:01 PM