Gross 4K can afford S70 premium (79k) ? I'm not talking about loan approval , I'm talking about overall financial affordability .

0 Commitment , except for medical insurance . Don't drive much because WFH.

gross annual RM 48 K -> about 1.5 times less than the price of S70...dont even bother unless you want to go broke every month and eat bread everyday? (not sure if u can even afford that honestly). either earn more or get a cheaper vehicle.

when i was making 2.4k gross 10 years ago i bought my myvi at 44k because i needed a car , now 10 years later i want to replace my myvi i should buy another myvi ?

why buy an S70 when you dont drive much? nothing wrong with getting a newer gen myvi. you have to factor in the following too not just sticker price:

1) Monthly commitment for loan
2) Maintenance price (average annually over next 3-5 years or more)
3) Insurance costs
4) Petrol costs

Most people dont factor in number 2 and 3 and then realise they cant really afford the vehicle...

One thing you did not mention - how much Downpayment are you planning to put in, and how many % is the interest (estimated) and for how many years of loan? if you have a lot saved up, and your monthly commitment isnt that much (say 500-600) then I'd say that's good -> go for it. but if its like 900 or higher...forget about it.

That would be what I’d do if I were in your shoes.

my downpayment is whatever my myvi can sell for , which is 10k-12k.

i am getting a new car mainly is to replace my aging myvi , and also i need to travel to KL every few months . the reason i say i dont drive much is because i wfm hence i dont daily commute to work .

This is my estimate of your monthly:
https://www.calculator.com.my/car-loan

Car price - 79K
Downpayment - 12%
Loan period - 9 years
interest rate - 2.5% (rough estimate, not sure if this is accurate for S70)

monthly repayment - RM 788. You cant afford it....

I would suggest getting another myvi or maybe Bezza 1.3 AV - worth it at < 50K (something different at least). With bezza your monthly is about RM 500+ for 9 years, everything else same as per above except car price..interest rate might be different, so u need to check..even at 3.5 interest (1% more) is RM 535 VS 788 -> dont laugh at the price difference - remember the 4 points I said earlier...)

btw I am still driving a 12-13 year old Kia Forte 1.6 SX since I joined my current company and my income has gone up quite a bit over the years and yet did not change my car...its not in the best condition but still going...like you - I too dont drive often and WFH most of the time...dont see any real need to change unless it breaks down totally..

5 yrs loan monthly around repayment RM1.2k
7 yrs monthly around repayment RM920
9 yrs RM750

I'm not an armchair financial advisor so I'm not going to make any assumptions. You sendiri kira after deducting your monthly expenses and savings, enough or not?

Remember to factor in insurance, maintenance and repair costs post warranty.

This post has been edited by dares: Feb 17 2024, 08:19 AM

One more suggestion - get the CSP (Conscious spending plan excel) and fill it up :
https://iwt.com/csp-youtube

Your fixed costs (plus your new car - monthly loan + maintenance + insurance) should not exceed 60%. If you dont exceed with the price of S70 then go ahead, but honestly the lesser your fixed costs are the better and you need to save and invest.

When I realize i need to think so much to buy a car that is cheaper than the lowest spec vios by almost 10k really gives me depression

This post has been edited by Longway: Feb 17 2024, 08:26 AM

You are not alone. Many Malaysians are struggling. Just because they can buy a Vios or City doesn't mean they are comfortable with the financial hit they are taking with the car. Don't just look at the surface.

You can do yourself a favour by not joining their ranks and make yourself suffer for your car.

Based on your usage (WFH, occasional highway travel), a Saga or Persona would do just fine.

gross 4k and spend 1k monthly for loan/maintenance/insurance is quite tight..
But if u single and u have modest lifestyle.. u can afford the S70..

the fact that you wont be driving the car much - you will enjoy it for first 2-3 years maybe (new car love syndrome), then after that you will treat it like a normal thing and eventually will regret it if you paid so much for it with such a high monthly commitment. Like i said - go through the CSP link above, if your fixed costs (including your car costs maintenance etc) is at 60% or lower, then go ahead. if not, i strongly suggest you make a different choice for your next vehicle.

Your earning after 10 years honestly isnt much from 2.4 to 4K a month. either significantly increase your income (supplement with grab etc) or get a cheaper car to have an overall lower fixed costs. trust me - its not worth it. I know the feeling of "wanting" to have a new, nicer car - i've been there many years ago so I know. I have bought 3 cars before (including my current kia forte) so I know the feeling. Dont cave into instant gratification and dont forget - you will need money for a rainy day. save up at least 6 months of emergency funds, educate yourself financially on iwt.com or google dave ramsey and watch his youtube videos.

Exactly. Many years ago in this very forum i used to hear some stupid lame points like 2K salary can buy vios, 4K can buy BMW..yep..can buy..go ahead..put yourself into deep financial strain with zero emergency funds, when unexpected things happen - go with credit cards + personal loan and then get into a deep hole of debt.

If you earn 4K gross, saga/persona/bezza is all you can afford.

another article for your reading: https://www.iwillteachyoutoberich.com/how-to-buy-a-car/

yes most of it are US related but the general rule does apply..

This post has been edited by CyberKewl: Feb 17 2024, 08:55 AM

proton car sell so xpensive.

At RM4k gross, I wouldn't even recommend buying a car. If you really have to, go for something cheap. Cars is an expense. It's not only about the price of the car, but you also have to think about maintenance. Also, minor accidents are common so you have to think about having to fix / replace the bumper, or fix a dented door and repaint damaged parts.. the more expensive your car, the more expensive repairs will be. You can claim insurance but you will lose your NCD, which means you lose money. Net net. it's a money pit.

This post has been edited by Par@dox: Feb 17 2024, 11:27 AM

there is no shame to replace ur old myvi with a new myvi. if your income did not grow enough to afford a s70 after 10 years, then just buy a car that you can afford comfortably with your current income.

I am trying to read between the lines here, I reckon TS does not say any where near KL ? And since he mentioned zero commitment (no rent? No utility?) I reckon he maybe staying with parents, so f those are true, why not?

not about can or cannot - but about should or should not. i can buy a ferrari too with my current income but should I?

TS, I would classify this as "doable".

Whether it actually is or not, would depend on your spending habits and commitment.

Yes, you could afford it. But 'should you buy it' is arguably a more important question. If I were you, I would resist the temptation to get a new car now and aim higher for an even better car in the future when I have the financial capability. Why waste money on a S70 that is gonna delay the purchase of your dream car?

This post has been edited by HotshotS: Feb 17 2024, 04:42 PM

continue using your myvi.

add in tyre price

Walk over to Protocol SC and take note of the yearly maintenance costings. Usually it is on SA's table. The chart will list prices up to 5 years.

From the info, add the yearly costs of maintenance to the car price and divide accordingly to the number of years u plan to keep it.

Example. U plan to keep the car for 9 years.

Car price 79k
Yearly maintenance 2k X 9 years = 18k

Total = 79k + 18k @ 97k

Don't forget to add costings for tires, insurance, RT and fuel too.

Typically, if a 9 year installment is 700+ monthly, it will be much higher with all the above added. In short, if the salesman said the cost is 700 monthly, remember to double it to 1.4k monthly. As long u can allocate 1.4k monthly for the car, then only u can afford it.

This post has been edited by acbc: Feb 17 2024, 02:41 PM

Yes I live with parents, no commitment. But I find food price really expensive, RM 10 X 3 meal is already RM 900 a month, that is assuming you can consistently go for RM 10 meal. Sushi once Macdonald once treat gf once the budget confirm lari already.

after read through, i guess i will buy proton saga instead of honda city hatchback, confirm stress kalau city hatchback, although i i have a stable job currently, but still job hunting now to increase my base salary

But your car is not giving you any problem. And you do not use it often. So why buy a new car? This does not make any sense!

Might as well keep the money and try to double it until something nicer comes along.

The Myvi isn't going to depreciate faster than any other car at all.

If I were you, I will just flip the coin, not that the coin will determine the answer, but before the coin lands, your heart will already find your anwer.



And no regrets , sink or swim with it.

Following your heart or following your head, you decide..

For me, I will choose happiness, any given day. Life is too short to be unhappy

very far off the mark rough estimate, u will never get below 3% for local cars

why not get a persona instead? new car at lower budget

u're not missing out on the safety features anyway since u only aiming for S70 premium

This post has been edited by tzxsean: Feb 17 2024, 08:14 PM

spending rule.

if you cant buy the same car 2 times (take the 2 times of the cost and calculate) comfortably, it means you cannot afford it.

alza is below 3% , i believe s70 will be below 3% also

persona premium + its FC + unusual high interest rate = more or less the price of s70 base model

how bout perodua axia e ?

you can afford it, but imo it's quite an unwise decision. I'm also a proton owner, but I bought my car second hand after the price has significantly drop while it's still being only 3 years old. If you really like S70 i suggest to give it 1-2 years. Besides you never know what problems that comes with the car. Just look at X50 and X70

Kinda agree with you.
My wife's earning similar to TS, also with zero commitment except own insurance, was eyeing for Yaris or Myvi few years back. Eventually settled for Myvi as preferred AT > CVT.

So TS can go for 70k car.

Afford? Definitely can.

U could be having 1Mil savings now nobody here knows.

Dont care what ppl says about income per car value.
79K is like around 30K more than a Myvi. Why not?

Back then X50 and X70 could get 2.xx% p.a., not sure how it is now.


This post has been edited by dares: Feb 18 2024, 01:50 AM

Persona Premium RM60k, 12k D/P, 9 years @ 3.2% p.a = total paid RM74k
S70 Exec RM74k, 12k D/P, 9 years @ 2.7% p.a = total paid RM89k

Difference RM15k, assuming you can get 2.xx% p.a for the S70 to start with.

Not sure what are your expectations with S70's fuel economy, and if in reality it is better than Persona's. But considering you WFH and seldom drive, I gather that it will take quite a while to make up that RM15k difference in fuel costs.

Also, S70 maintenance fee in quite a bit higher than Persona overall.

A big part of the equation aside from less commitment is cost of living, so TS has things worked out for him since he stays with his parents where he already saves on housing and utility.

Another factor is really where he stays, and it does make a lot of difference.

https://livingcost.org/cost/malaysia

I know because I travel to many towns in Malaysia and in general cost of living in KL and JB are far greater than even PJ or Klang let alone further out of Klang valley .

And if it is other states, the difference is even more astounding.

Although TS did not say where he lives, but his statements of saying RM 10 per meal seems to suggest that he may not be living any where near KL.

This post has been edited by EnergyAnalyst: Feb 18 2024, 02:55 AM

Well it all boils down to this....

15k divide by 9 years is RM 140 per month , if you can save rm 50 per month from fuel by driving S70 its already a minor difference . Never underestimate these campro engine , it can make a car cheap with high running cost this is especially true if you consider the rising fuel price . with the night and day difference between persona and s70 , monthly rm 90 is a no brainer albeit with higher insurance and slightly and maintenance cost

rates dropped so much? when my colleague bought his Alza mid last year, it was 3.1-3.3


mid last year when I was surveying X50, I was told rates around 3.2-3.4
dunno about now, but things can change a lot in half year

axia je la

LISTEN TS. When it comes to buying cars, pls follow ur heart not other people suggestion. Dont buy something u dont want because of other people recommendation. U might regret it later. I did it in the past.

There another ways for you make the monthly paymnent more affordable. Put more on deposit, 24-35k then ur montly payment will be the same with myvi. Save money until u have enough for deposit before u buy

i would somewhat agree with your point and approach - if TS can bring the monthly down to 500 a month or even less then yeah go for it. always remember to factor in maintenance, insurance, tyre, petrol. those costs are often NOT factored into the monthly. one can average those out into a monthly fee. today he can afford that s70 but he *should* not buy it.

Or...find ways to earn more on the side - do grab, etc.

seeing his responses, I think he's already determined in getting S70

so I would say just plan the financial part accordingly and go ahead. Also make sure to have backup plan for worst case scenario.

This post has been edited by tzxsean: Feb 18 2024, 10:28 AM

yea that's what i've told before , just go for axia e ( axia rahmah ) .. already good

Had Axia E before and still a big fan because you get it cheaper now 22K than my first Kancil 660 demmit.

However just a reminder it doesn't have ABS EBD so during rainy days really really need to SLOW down.

make sure monthly less than 600, myvi 2013 around 20k... enough for depo




This post has been edited by croydon: Feb 19 2024, 01:10 PM

Save more for the down payment, say loan less than RM 45k you should be fine to own a S70.

MYVI is not a good candidate for long haul drive, now that the car is old better move on. It still worth some money, top up with your own savings should be fine.

Hi may i know what are you trying to tell me ? You're saying s70 maintenance is not much higher than myvi ?

thank you for the reminder , really appreciate it ...
true it's cheaper then kancil because previously im the owner of kancil 850 but already sold it few years back ..
thinking to buy axia e , basically for my wife , she loves manual transmission , to replace her old first gen myvi

gross 4k = net 3.5k

buy s70 or not depends your future plan

if ts plan to get married in future or buy a house etc then better dont buy a new car


salary 2.4k to 4k = 67% increment
myvi 50k to s70 = 60% increment

on paper ts have higher purchasing power but now everything are expensive than last time 7% increment may not beat inflation, after buy s70 you may feel suffer

insurance + petrol + maintenance

if your saving per month > instalment then can go ahead

your myvi insurance should around 500 as nbv 20k
s70 insurance is around 2.5k

maintenance you need to check

fuel - fuel cost will go up, dont forget gov is removing petrol subsidies, maybe fuel cost will double
salary 4k buy s70 80k

dont ask us can afford or not.. you yourself should calculate whether you can afford it or not as we are not you, we don't know what's your monthly commitment and monthly spending
you said 0 commitment other than medical insurance, assuming its rm 200 / month.
4k gross, get 3.5 nett - 200 = rm 3.3k
what about your spendings per month? Rm 1k? nowadays easily can spend rm 1k without knowing one la.. so assume 1k la.
left with rm 2.3k then like what other bros calculated, need at least rm 800 for the car with a 9 year instalment plan
left rm 1.5k.
heck, if you're comfortable with that savings per month, then go ahead?
but be sure to think properly.. now you don't have commitment, but what about in the future? say 2 / 3 years down the road..
what about maintenance of the car? tyres aint cheap, parts aint cheap..
got the money to afford for the maintenance or not?

don't be like some ppl that I see on fb.. go apply loan for myvi AV, monthly rm 698, then after that complain no money for maintenance. lel..
wanna service also wanna think twice and wanna take out whatever parts that can be taken out..
if you wanna live that way, then by all means go ahead and buy the car.. but yet wfh and won't be driving much..
honestly don't see the point in changing a car just because you travel to KL every few months.

Buy is easy, but maintenance, insurance, petrol this will be a challenge later.
S70 will not be cheap to maintain like Myvi, need to standby 2X the maintenance fee from what your current Myvi.
Just look at the tires enough, Myvi using 14~15 inch, S70 16~17inch. The 16~17 inch tires logically going to cost more.

Example

Myvi 175/65/R14 - 185/55/R15
185/55/R15 - Take Toyo CR1 price found in Shopee
MYR 193/pcs

S70 205/55/R16 - 215/50/R17
215/50/R17 - Take Toyo CR1 price found in Shopee
MYR 337/pcs

The tire price itself at least 75% more expensive compare to myvi.
Just imagine for other maintenance parts also.

This post has been edited by littlefire: Feb 19 2024, 10:33 AM

if you like the car go ahead.

rule of thumb has always been buy a car that cost a year of your salary or lower.

invest the rest of your money. in 10 years time, u will be glad u did that instead of spending more than u can afford on a mere car.

depend. my work require plenty of outstation, so I need a comfortable car and more safety if anything. comfortable for me is the car able to drove 140-150kmh at about 3k rpm or less.

if im at 4k and need car, i rather buy used Inspira with 2.0 engine. or best Perdana Accord used for 2.0 engine if need big car. price both affordable used unit

This is something that people seldom consider when buying cars. Maintenance cost for wear & tear parts and insurance & roadtax.

I saw one guy in /kopitiam probably buying a car that is more than he could afford, end up downgrading tyres to the cheapest available and pay insurance & road tax using installment.

Really facepalm reading all those funny stuff.

lately saw many, push the loan to 9 years, if possibe full loan. then day 1 getting the car, send workshop change rim bigger, take unknown brand tyre.

Change bigger rim would not void warranties?

lol cuz looks over affordability
from a far, ppl already see the car and go 'fuiyo!!!! nice car, new one leh!!' then the owner ady happy..
so what if he cannot pay the parts or paying insurance and road tax in instalments? cuz nobody knows he does that
they offered the ability to pay in instalments, so he took it. loool..
then end up eat grass or have a hard time maintaining the car. lol..

nowadays a lot ppl are like this.
which is pure stupid..
take 9 year max loan, if possible full loan, cuz fk the monthly instalment. they want the car, they will get it no matter what.
come out from showroom, within next few days, mod here and there, fk up some wiring and shit, then after that come out some warning lights on meter, then join some fb group and asks 'eh gang, tadi aku buat mod ini, itu, apalanjiao, habis itu keluar warning ini, ape bende ni eh?' oooops..
lel..
after that some can also openly admit, 'wow I take this car, the monthly instalment is already killing me, now need to change parts, I cannot even afford' loooooooooool.
that kind of mentality, no wonder so many malaysians are poor as fk now.
buying shit they cannot afford.
buy apple iphone 15 pro max pay in 5 years instalment.


yeah, void those that could be affected by tyres. Suspension, arm rods, and what not.. but who gives a shit?
looks > warranty


This post has been edited by technosakai: Feb 19 2024, 01:38 PM

Any non original parts fit can be void warranty, including those related parts like technosakai mentioned.

This post has been edited by littlefire: Feb 19 2024, 02:12 PM

i same thought with ts. i brought axia back on 2016. and current salary is 4.5k, i paid off my 7 year loan last year, even now my axia is super cheap to maintain. my axia was super underpower, so i aim for the 2025 myvi (rumor say 2025 gonna have a new king). there is no wrong to drive a cheap car.

HM void warranty. sample case, U get gb issue, they reject your warranty claim cz use bigger rim. That why I will not buy another HM car in the future.

another hype nowadays since all car with Turbocharge engine (except slowpoke UMW Toyota and base model HM), many seller selling racechip and remap service. some with skill will checking first the torque limit the GB can handle, some just push it to the moon for better selling point. On X70 CKD, many shop remaps the engine to get 380Nm when the GB only can retain max 330Nm. Turbocharge engine, remaps just put bigger boost, sure can increase power.

Racechip, it just faking the signal to ECU, also got issue for some cases in Suprima S, Civic FC last time, engine k.o when they drove fast + racechip

This post has been edited by ayamxxx: Feb 20 2024, 11:04 AM

back then I purchased my dads old Waja 1.6 Mitsubishi since the Usedcar Shop also takes very low prices on used unit. When had the car at 70k km, I used it till hit 300k km, only lost it to theft. The first 5 years with this car without the need to fork out a fortune on loan is great. if salary 4k nowadays in my office, they use Civic 1.5T already

if axia is still well and can serve your purpose, try to stretch your car loan free period, like 3-5 years. then save up baru buy new car.

where do you stay ?
where is your workplace ?

last time my gross 3.5k , i buy honda jazz. (72k) that time ok since still live w pama/ etc.

however once i go out n rent outside live alone, then it started to bite. not factoring insurance, service, tyre change, etc etc.

if u foresee urself these 9 yrs loan u will continue stay w pa / ma, foreveralone no gf/waifu then go on . if not, suggest you not to.

another point to note that the proton resale value will be shit. so if anything happens in the future, you won't have the safety net to dispose the car.

if you ask me,salary 4k better replace your current myvi to either the new myvi or bezza. nothing wrong with changing to a same segment car. it is based on your affordability. new gen myvi has improved a lot since 10 years ago.

lol, no man. that is bad advice. the maintenance will kill you . plus it is prone to so much wear and tear, worse if it involves the GB. my friend inspira GB kong ady.

ok then no CVT. take Accordana with 5 gear auto, reliable

D segment accord
Cheap to buy doesn't mean cheap to own

That's applicable to anything used (including recond)

when I was grossing 4k, I find 30k used car bah... 7 years, monthly < 500, also half dead makan roti
now Exora Bold 2013 I don't ever wanna change car until it's totally KO

This post has been edited by alexei: Feb 21 2024, 01:31 PM

when grossing 4k last time, I bought a townhouse in Seri Alam Johor last time back in 2012. Now the price hitting almost double if i wanna to letgo. Sorry unrelated to cars.

This post has been edited by ayamxxx: Feb 21 2024, 03:37 PM

it's alright, sometimes we need this kind of examples to shake up financial management among us
I'm not referring at TS, just generally speaking, wish I had done something similar

some kids I know are very financial literate, already owning up few houses for rental at slightly above half my age, and they drive shit cars or some hand down from parents

How much permonth and how much dp?

Around rm700 per month loan but rent it out for rm1.2k since 2013 until now. 10% deposit

Less than 1k very nice. Looking for house too but klang valley die did also 1.5k renting to others might be less.