Read my reply, it's not to you. It's for people who feel butt-hurted by your claims. Frankly I dun care if you bought or not, I have many properties on my own which is from my own blood and sweat not from donasi. Just that people need to take statements with a pinch of salt and not be jeles too much.

oi oi oi ....

don't off topic ahh..... later fight then entire thread kena kolos.

Ok, back to car, risky if buy 260k if celery less than 300k/year.

Means /k 20k salary also cannot afford lol

With 20k it's close but still not advisable.

My rough calculation..

At that salary ur tax rate is probably around 20%. Deduct Epf 11%.so nett left is about 14k.

The car with monthly payments, patrol, toll n insurance, that's more than 4k. (I'm assuming 10% dp n 7 year loan). Left with about 10k.

What about housing, electricity, water, internet? 20k salary cannot live in rumah murah. So maybe another 4k. Left with about 6k. That 6k is for normal spending, medical insurance and save for holiday. If family also childcare, n maid. Enough? Maybe, but what about additional savings for rainy day n retirement?

So go for much cheaper car.. Maybe 160k range. Enough for Gaya purpose. U get 1k+ extra, maybe can save.

This post has been edited by Cubalagi: May 31 2019, 01:49 AM

Agreed, that’s why the rule of thumb is:
12 x Net Salary, can’t use gross

You cannot enjoy that “gain” but it is there nonetheless ... it’s part of net worth ...at the end of 20, 30 years ... u will see the difference of owning property vs cars .. ha ha

you dont enjoy the "gain" by buying a premium car. but you will enjoy the ride quality and social status that comes with it. thats why its called a premium car. ya, properties will "cfm" go up in the span of 20-30 years. but i would rather enjoy my 20-30 years with something that i can enjoy daily than paying monthly instalments into properties that im not even living in. and pls always include the expenses that comes with a property like maintenance, wear and tear, all those taxes and of course by the time you finish paying, its probably double the initial purchase price. so the "gain" isnt that much, we are not in 90s 00s anymore.

You calculate all expenses but no rental income? In the US, there is a study....the biggest difference between the rich and the poor is that..the rich are owners and the poors are renters..think about it instead of forever yolo

Proposition.
Reply.
That's pretty much what Bobby is thinking.

To clear the air, Bobby is not suggesting that one should favor cars over real properties, what he merely suggests is that if people want to invest on real properties then go right ahead but do not turn around and criticize people who actually spent money on cars instead.

The opinions he cited in the video is to give an understanding to the people who cannot understand why people are willing to spent money on cars - it's just to share another perspective.

It's just like a hobby; some are willing to spent thousands of ringgit on golf accessories and some are willing to argue with you for 30 minutes just to avoid paying for a cup of RM0.30 plain water.

At the end of the day, as long as you do not sacrifice your own life comfort in owning a better car then you're good to go. Never mistreat yourself physically or your loved ones (for that matter) just to afford yourself that material possession.

Hence, the importance of this thread as it gives a rough idea what it takes to actually afford a car of RM260,000.00.

msia's rental income is pathetic. there are properties at 1m renting at 1.5k a month. thats 1.8% annual return. im not saying buy premium cars and rent property. strike a balance. why would one need a 300k income for a 260k car? 300k income is top top tier considering msia's labour market.

If u see the number of expensive cars in Malaysia compared to other countries , u will realise that we r wasting valuable resources ....300k gross is 200k net.... if u have a young family to grow... u better not get that car... sure, u can probably afford the installments but the money is better invested elsewhere ...

If we go strictly by income... the number of Merc and BMW’s on the road should be slashed by 80% ... we simply cannot afford them....

In the US, people are recommending spending 35% of net income on cars .. so, if you are grossing 300k, get the Aruz.. u deserve it

Alternatively, like me, buy the 260k car a few years down the road, second hand. Let the first buyer take the bulk of depreciation costs and I'm still within my 12 months limit. N still enough Gaya, coz Malaysians tend to be more impressed with the badge, not necessarily must be the latest n newest.



This post has been edited by Cubalagi: May 31 2019, 03:47 PM

... and be laden with the melancholy of after warranty service repair bill.

the simple truth is this, if one cannot afford a premium luxury car first hand then he cannot afford it at all. those buying used (other then CPOs) are asking for trouble.

what is cpo?

certified pre-owned.

a nice word for second hand? haha

there are more values attached to them then just a fancy name tag.

these are units traded in by owners to authorized dealers for whatever reasons it may be. these cars are then sent for repair, refurbishing etc. albeit a bit more expensive than what you can find on other used car markets (for the same specifications) but you'll most probably get better value out of it.

faulty parts firstly get replaced under the existing manufacturer warranties, the interiors get refurbishing and paint works get touched up.

most of the time, these CPOs still have 1 or 2 years manufacturers warranty left with them so you get that too.

there's also no need to worry about these CPOs car having a "bad history" because authorized dealers don't take back cars like these.

so yeah.

wah, what is ur recommended income to own a 260k car?

Hi MeToo, I previously read up on your buying a Marc for your mom. Just wondering what is your age range and what do you do,industry?