i see the majority of ppl take housing loan of 30 years.

i think should keep it max at 20 years loan tenure
if one cant, that means u r not able to afford the house. try renting.

I don't see how the standard advise deviates from reality. I'm earning about double of the salary you mentioned and yes, I'm driving a kosong Viva. Stretching to the max (e.g. 9 years) is only feasible for me only if I can sleep in the car. There are many more financial challenges one should be prepared other than the four wheels.

Cheers.

double of that salary means 4k x2 = 8k so u r earning 8k and drive a viva with a 9 years loan...lol idk how much is a viva, say, 40k, 9yrs HP is roughly rm400pm.

may i ask how much property u have? u must at least have 3-5 properties to be allowed to say the above. ive a friend who earns 3.5k pm, has 2 apts x rm150k each and a rm1.2k pm car incl fuel. ok, he got no saving.

if u earn 8k pm, drive a viva, has no properties...then either u have no higher expectation in life (one such as pursuit of better quality, better safety) or bad financial management lol no offense just for discussion ok. if u spread how u manage ur 8k pm income into investment ,im more than happy to learn from u cheers



This post has been edited by wayfeel: Oct 20 2012, 01:07 AM

Earning 8k a month and driving a kosong Viva is your choice, I wont comment on it without knowing what other commitments you have.

But looking around, I see plenty of people earning 5k a month, driving a nice 80k car while still comfortably affording one or two decent properties plus savings. According to those financial gurus, they should be in deep shet right now. Are they? If they are, I cant see it.

Being prudent is a virtue, but if you can afford a car that does not kill you the second it hits a pothole, you should buy it. I am not even talking about "face", at least get a car that has an airbag. Earning 8k a month, thats the least you deserve.

This post has been edited by dares: Oct 20 2012, 12:52 AM

many more financial challenges...financial challenges never ends...it's how u manage them...if u submit to that, u may as well earn 12k or 20k n still choose to drive a viva, which is just four wheels to u. n just live in a 120k flat because like any other 500k terrace house as long as it has roof for ur family n rooms for ur kids its enuf because there will be more uncertain financial challenges ahead. thats based on the standard u advised.

i have the earning but not much capital yet. just work for a year plus. i have a mortgage to serve. well, my tenants are serving it. i need to buy a new house for my parents as they are still living in old kampung baru wooden house. i won't feel comfortable in a nice car while thinking that they are still in an old house. for my kosong viva, i bought it with my scholarship in uni and it has been paid off.

the only concern i have is safety. i need to climb over the damn karak highway to get back to hometown. i might buy cash a rm40k car for this purpose, any suggestion?

Dude, I'm impressed with ur honesty that u were brave enough to tell everyone here in F&F that u are driving a kosong Viva. Beware, this may be regarded by Road Safety Gurus here as you don't love urself or ur family. just read the Camry thread, no VSC is A big sin, the passenger will not survive in accidents.

Go get a car with VSC and plenty of airbags. Make sure is not a Toyota, and preferred to be Conti or Korean make. Your life and ur family's worth more than 8k per month, aren't they?

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Added on October 20, 2012, 10:38 amWell said bro, is rare nowadays to see post with wisdom in F&F.

This post has been edited by landlily98: Oct 20 2012, 10:38 AM

Hi, I haven't formed a family yet. I agree that I have neglected my safety on the road. I will think about it seriously and buy a better vehicle within my mean. I'll come this forum more often to decide on my future car.

U must be a real cash rich..

Why suddenly discuss about financial management? There is a dedicated discussion thread at Finance and Business Forum. Keep at loan rate discussion la..

actually u got me completely wrong. i was being sarcastic to the guy below lol meaning i dont quite approve what he said hehe

guys, if used proton persona 11'. which bank can give the best rate?

i preferred the islamic 1..

Proton Saga SE.. 38k loan 2.9% interest rate.

Honda is giving offer for Insight, interest rate 0.88%, but how its work? Any idea?

my wife get 2.45% from MBB Puchong and CIMB Kg Baru. But sent her application to CIMB due to problem if apply with MBB (I work with Mbb).

But that damn bank never contact back after 1 week plus. Not sure ok or not. No news accept for acknowledge they receive my application. Btw. booking for new ford focus

2 type of promotion.

1. 4k discount but interest rate is normal ... ranging from 2.35 - 2.5 if not mistaken

2. Low interest rate - 0.88% for instalment up to 3 yrs, 1.88% for 6-9yrs

that's what the salesman told me

Between 2.30% - 2.35% depending on the amount and years I think.

I know RHB lowest 2.35%.
Which bank offer 2.30%?

i get a HP loan approved last week at 3.42% for a 1yr recon second hand car. then the bank say got mistake n need a gurantor. omg. then i discussed with the officer on the phone, finally i submitted few more documents and eventually it got approved again. but with a revised rate of 3.3% but i didnt ask the officer why because i scared it is another mistake again ( i wudnt want a lower interest , a mistake lol) but definitely very curious.

my dad said myb the bank negara revised (quarterly, or periodically) the overal car hp interest but im not sure. i wonder if anyone here can shed a light for my curiosity. thanks.



This post has been edited by wayfeel: Oct 23 2012, 09:11 PM

Hi! Just booked a Honda Freed. Would like to know which bank can offer the best rate. Looking into loan amount RM51K for 9 years.

Thanks.

rgds,
Jessy