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 How much I need to earn so that ..., TQ

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TSrest
post Oct 23 2011, 04:22 PM, updated 15y ago

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How much I need to earn so that I can afford to buy a 100k car?Installment.
Second hand or first hand?
TSrest
post Oct 23 2011, 06:52 PM

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If let say:

I sell my current car.
my parents support my down-payment.
Single.
Pay rent monthly.
So is not worth if I earn only RM3k something?


Added on October 23, 2011, 6:53 pm
QUOTE(Wira_lover @ Oct 23 2011, 04:55 PM)
if you are taking a loan, the instalment cant be more than 1/3 of your salary.

prepare downpayment, insurance also.
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what if doing business?Not fix salary every month?

This post has been edited by rest: Oct 23 2011, 06:53 PM
TSrest
post Oct 24 2011, 12:23 AM

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My current university is full of nice car(by student)vios,city,mazda 3 all these is very common,yes,local cars is getting less at least in my school.

What I know is that some of my friends just graduate and father already give them nice car,and full cash settle,which they dont need to pay any installment for that.Yet,every month his father still give him pocket money because his salary can not cover his expenses."What a good son."

For my case,my father bought me a car,myvi,but the installment my father reduce from my monthly expenses,once I start working,I am the one continue the loan.

After read thro comments,I think I know what I should do and dont.
Money in pocket is much important than driving liability on road.

I believe they is a lot of people driving normal car but is a millionaire.

Thank you for the comments.
TSrest
post Oct 24 2011, 12:59 AM

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QUOTE(lj0000 @ Oct 24 2011, 12:25 AM)
I believe they is a lot of people driving normal car but is a millionaire.

well said. money in pocket is better than money loaned.
its bad spending that murdered greece's economy.
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thanks guys for those critic,I appreciated it.
notworthy.gif
TSrest
post Oct 24 2011, 01:34 AM

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QUOTE(Aishinka @ Oct 24 2011, 01:25 AM)
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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This is something that wow me.
If dirext divide which mean each month need to earn 8k something.

Thanks!
TSrest
post Oct 24 2011, 02:47 AM

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QUOTE(Aishinka @ Oct 24 2011, 02:28 AM)
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?

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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I want and wish to become those people that "have car,ok already"


Added on October 24, 2011, 2:49 am
QUOTE(writeprotect @ Oct 24 2011, 02:03 AM)
Hah? So salary rm5k only can get myvi only la... If using ur formula. Hehehe

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
*
Someone above mention rm3k something?minimum requirement.

This post has been edited by rest: Oct 24 2011, 02:49 AM
TSrest
post Oct 24 2011, 01:07 PM

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QUOTE(kimsim @ Oct 24 2011, 09:59 AM)
I think the loan table can be help you as much you can afford smile.gif
user posted image
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You actually did the table??
Thank you so much.
TSrest
post Oct 24 2011, 07:33 PM

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QUOTE(kimsim @ Oct 24 2011, 06:54 PM)
Wah hot topic now become to fuel saving technology he he smile.gif
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OK,come back to the topic.
Besides,if I buy a car with full cash is that ok?I heard that someone will check on you is that true?

TSrest
post Oct 24 2011, 07:52 PM

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QUOTE(turbocharged @ Oct 24 2011, 07:46 PM)
as long as you can declare the source, its ok.

not those drug moeny, or bookie, or bapa ayam kind.
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If cant declare how?the shop wont sell to you even you have that much money?
TSrest
post Oct 25 2011, 01:35 PM

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I just want to make clear something here.
I receive alot of advice and comments from you guys.i am not saying that i will buy car once i start working.i just want roughly know the range,not saying that will buy after i start work.
I am
Just planning my future,seeking as much info as possible.
Thanks ya
TSrest
post Oct 25 2011, 02:36 PM

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QUOTE(K3nnYkl82 @ Oct 25 2011, 02:26 PM)
we are not trying to lecture u too smile.gif

just trying to give our dua puluh cent worth of experience...

to let u judge by urself if u want to be the 42 person whom declare bankrupsy everyday due to debts ..
or want to live a better life smile.gif

its all about ur own choices..
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thank you all senior.
I am still learning, experiences,expose more.I think when the right time come, automatically I will know whether I can afford to buy or not. icon_rolleyes.gif
TSrest
post Oct 25 2011, 11:53 PM

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QUOTE(kimsim @ Oct 25 2011, 11:23 PM)
Wah so serious ah you all now can be a 660cc or motorbike or income tax too smile.gif
I'm quite interesting of the hot toppic right now.

Ha ha ha
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Sigh,is a good place to discuss laugh.gif

 

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