Hi all, I need some help

I bought my 1st car in 2006. 4 years old Proton iswara. I took a 5 years loan. I've finished my loan last year. I dont plan to change to a new car but until recently, I realised that I've spent average 400/mth on fixing it. I've just spent rm650 last week. I'm tired of fixing it thus, I plan to buy a new car.

I'm not that type of person who change cars every 3-5 years. I'll be driving my car until it koyak after 10 years.

My question is, should I buy a used car or new car? I don't have to travel outstation for work, the most, I travel back and forth from kl - pj. I'm intrerested in nissan's almera (80k) which will be out soon or a used vios (rm50k). I would like to buy an international car rather than local cars. I don't want to spend too much on car loan as I'm planning to buy a house. Since there's pros and cons in taking 5 years or 9 years loan, so I decided to take 7 years. Not too long and yet not too short. If I buy a used car, I can have more money to spend buying a house.

Assuming that a car's life span is 10 years, by the time I finish my 7 years installments, the used car will be more than 10 years old (assuming that I buy a 4 year old used car) and right after my installments, I'll have to start a new installments for a new car cos the car will then be 11 years old. If I buy a new car now, after my 7 year installments, I still have 3 years of driving without paying any loan.

I can afford both cars just that I don't want to spend so much on depreciating cars and yet, I want the comfort of travelling to work. Err, hope u guys understand what I'm trying to refer here...

Btw, anyone knows the int rate for new Nissan and used vios for 7 years? I heard someone saying about Nissan has higher int rate. Is it true? If yes, why?

This post has been edited by hey_there: Sep 8 2012, 03:16 AM

My car was good all these while since early of the year. It broke down in the middle of the road and since then, I've been fixing it. I sent my car for service on time. I spent a bit more last week coz of tires la. changed 2 tires. But at the same time, the fan broke down. Now, it might have carburettor prob which is going to spend about rm500++ to fix it.

Anyone know what's the interest for Nissan 7 years? Thanks