yeah after the advice here i think i’ll be going for cheaper car. just fyi i’m more than 8k tho

that would be a wiser choice especially if you have dependants and unless you have your own business where financial freedom is a thing, whether you are drawing RM8,000.00, RM10,000.00 or even RM20,000.00 monthly, you are susceptible to retrenchment and is financially insecure.

one of my acquaintance, a captain ranked pilot with MAS during their good years (safe to say he draws at least RM18,000.00 a month based on his standards of living), got retrenched during MAS's corporate exercise of downsizing - he basically went from hero to zero rendered redundant by MAS.

sold almost everything he had that are still under financing including his Semi-D in Cyberjaya and 4 of his luxury cars.

remained jobless for close to a year before finally deciding to start up his own small business and is now doing well above average and he was glad that despite his lavish uncontrolled spending during his good years, he somehow managed to save up a portion of his salary and that is what got his family and him through the tough times.

so yeah, market is a bitch.

this is how u calculate:

car: 260k
down payment: 10% @ RM 26k
financing: RM 234k
tenure: 9 yrs
interest rate: 3% (assume)
monthly: RM 2,750

so u only need a salary of RM3k u can surely buy a rm260k car

dun listen to haters. listen to your inner want

surely your salary will incresae every year ma

by the time u finish pay, ur slary must have grow from rm3k to rm 8k liao

Where got bank lend you 234k with only 3k income?

please don’t investigate here. later my mind get change again

RM260k car, installment around RM2,600. Some bank can give loan up to 60% salary. so RM2,600/60%x100% = RM4400. GG

Frankly, you should be earning RM130k per year, MINIMUM. No ifs, no buts.

Yes I agree.

TS did not mention what else need to pay from salary. How much is other expenses. Unless TS debt free.

+1

TS should listen to us old timers...

Those newly registered dupes are just trying to cramp his style by pouring cold water.......

yes i can meet but not sure if consider big enough head to make the purchase. i’m very conservative in finance

now i’m more confuse after got 2 different opinion here. any car salesman in forum?

Ofcourse 2 opinions la.

Buy or No buy ....

Anyway... YOLO man... I also just bought a 260k car for my mother...

as someone already pointed out the monthly payment for a 9 year loan is 2.7k, if your average monthly salary is 10k, it *should* be OK. But this is bare minimum, because at RM10k salary, your take home pay is around RM8k only. After you pay your car, you will need to pay for maintenance and ownership costs. You're lucky if you're left with RM5k, which is not much if you have a property or a family to feed. Even if you don't, you'll be looking at lifestyle expenses, eg mobile service, internet service, insurance, rent, etc.

Don't forget, the car is going to cost you a lot more the longer you own it. You will feel A LOT more comfortable buying a car around the RM130k range with a 5 year loan. That's what it is, isn't it? What are you more comfortable with? Are you comfortable staking 9 years of your life on a car? If yes, then go ahead, if not, then downscale.

u r different level bro. if reach your level i also will buy luxury car for my mother.

yes that is why i dilemma. one hand is as u said to be comfortable with the purchase and leaning to that after all the advice. also the maintenance cost will be much more than the car price. but on another hand i’m still young if i don’t make the purchase now i don’t think i will make it when i’m older due to more things to worry about. also seen how some of ppl i know just suddenly have big issue when they old time and didn’t actually enjoy their life when they young. means they never actually live their life before. when u do stupid things during young time is more forgivable than do stupid things when u r older and society not so lenient to u

This post has been edited by MasterConfucion: May 24 2019, 03:11 PM

ah... that's another problem

i was just merely answering TS problem in most hypothethical manner

Someone once told me, the money you earn with all your blood and sweat... is not yours until you spent it. If you dont spend it, its just numbers on a piece of paper... it will never bring you any pleasure.

The feeling of walking into a luxury car centre, and driving off with a brand new shiny car is fun yo!

So what brand/model you goign for? Dont hesitate lor, now got raya promo... huge savings

Well... we're not going to topics that are outside of that to buying car, but since this is "serious kopitiam", I can share my view.

- I've bought some fancy cars also, it was fun for about a year, then the fun factor wears off. At that point you'll only be thinking about "upgrading"
- It's ok to do stupid things while young, but not ok to do stupid things that you'll pay for when you're older (e.g. getting in jail)
- Young people (i'm saying young people as in those half my age, i.e in their 20's) typically do not know what it is in life that is enjoyable. I know I didn't when I was younger. I only thought I will enjoy the things other people tell me are enjoyable. You need to find out for yourself whether or not you like those things. E.g. clubbing, scuba diving, travelling, etc. Over time, I realize I don't really like some of the things other people like, and after a while, those things are meaningless to me. Is driving a nice car something that you like, or something that other people tell you that you will like? What does it mean to you?

It's a boring thing to think about, because when it comes to buying a nice car, all we can think about is how awesome it will be to get behind that steering wheel, feeling the leather seat, flooring that gas pedal, enjoying the admiration from friends and strangers alike. That too has its value, if you think it will last for years and years until you replace that car. Once that is over, and when looked back, all I can think of when I see another fancy car was "been there, done that".

TS how old r u? I don't think you can afford it..

You should work out your finance first.. how much you are worth, how much is your nett saving per year, what is your projected income in the coming 5 years..
After that then u can make a clear decision

Last year i also bought a car... it was a nice upgrade but I dont think much about it... bcoz i have enuf cash to buy several of it

In general most Msians can only afford less than rm 40k cars