1. If you want to sell in 4-5 years, do not take 9 year loans. the reason being that the 1st few years, you'd be paying for the interest portion most of the time.
2. I am doubtful that Honda will be in good quality over long term. For long term ownership, stick to Toyota and Perodua. This is my opinion after getting feedback from my friends who drive Citys and Vios. But myvi's use timing chain. which are very costly on a long run (ie 300k km).
3. 70k / year is equivalent to 5k net after EPF, SOCSO and PCB?
By regulation or bank assessment, 1/3 rd of salary is car. BUt better not spend 1/3rd. Better spend less.
4. For a persona top spec (after trading in your myvi for rm 25k), loan would be 30k and with 7 year loan, it is rm 450 monthly
For City or vios lowest spec, loan would be RM48k and with 7 year loan , monthly is around 700 rm / month.
above are new and base on estimation with interest at 3%.
5. By calculation, persona is ideal. But think back on the power of selling and whether appeals to you. That is no where in financial calculation.
very good breakdown. I do agree with this statement below
By regulation or bank assessment, 1/3 rd of salary is car. BUt better not spend 1/3rd. Better spend less.