Sounds quite insane to me.

Let's say you earn RM240k a year and you buy a RM240k car, you literally have spent your entire year's worth of hard work just to buy something that brings you from point A to point B.

Imagine that, 1 whole year of suffering all goes into 1 thing.

If you consider this from a disposable income perspective, that's even worse! After reducing tax and all other living expenses for the year, you could be only left with RM5k a month and that's considering you aren't the spendthrift type. You would have spent at least 3 years of your life, working hard just to purchase that car. I discounted 1 year for bonus, increment, and investment income, which is more than generous.

What do you guys think? 3 years worth of blood sweat and tears for a car, worth it?

In reality, most Malaysian would actually be spending more than 5 years worth of blood, sweat, and tears on a car cause most either buy a car worth more than their 1 year salary, took long loans with high interest, or have a super low disposable income because of commitments.

I have bought a car equivalent to my annual salary before.
It's actually ok.

Ok

This post has been edited by jojolicia: Today, 12:37 AM

6 months there about for most people is acceptable.

But some advice if possible lesser than 5% of networth if already working for quite some time.

1 year of salary for car in Malaysia is considered very conservative due to high car price. Many Malaysians pay much more for car. My friend earns 3k per month is driving a Toyota vios while my paid is more than double of his and I drive Proton Iriz

If the 1 year annual salary (along with associated cost of petrol insurance maintenance etc) can bring 9 years of benefit, or with my gen 1 Vios, 22 years of benefit, then the value proposition is certainly exist

There's a saying, if you can't buy it twice, you can't afford it..

if i were to follow these so called " guide" i will never drive a conti till today

i have ald change 2 times conti and each time is an upgrade

and i am still surviving...eating normal...travel normal

Ok... and what is your advice then?

i bought RM17k Car once.....yet come with 5 years installment
best car in the world

more people spend far more than that, and they do it multiple times over. whether it’s worth it depends on lifestyle. for some people, a car isn’t just something that gets them from a to b. otherwise, there’d be no reason to buy anything other than the cheapest one.

What about tax obligation? The actual take home pay is around 200k if you only count the minimum deductions

YOLO

Cars and homes are great liabilities. Especially cars. You have to constantly spend expenditure to maintain them. Better keep that money to look after your health.

Especially for malaysian roads nowadays, it's not worth to drive expensive cars on broken roads with f-king potholes.

For example, Ipoh roads. Come and see how f-king bad the roads are here.

And it doesn't help that some guy giving permission to break the mountains too.

This post has been edited by amgh: Today, 04:14 AM

but but but amoi!

You should ask what are each financial background first

I’ve bought car cash and also by bank installment before. When loan some I put 50% down and some just 10%. Some ever do early settlement

Every time my financial is ok. Planning is the key. To each their own

This post has been edited by knwong: Today, 05:31 AM

depends lo

if you are the YOLO type of personality , its worth

else just get a Axia Rahmah

A to B , kena flooded also no cry maderfader

For me ok...as long as ur not taking a loan..

Hmm... So. This make my mind not buying accord edi. I'll stick with the new saga.

For majority like unker earning RM3k, it is bad finance to take 9 year loan for bezza only to trade it after fully paid off for another 5 - 7 year loan for next generation of P2. Rinse and repeat every decade.

But when public transport is lacking and city planning means walking on highway, there is less choice. Car is necessity even in KL. So ppl choose to spend more on something more comfortable when they know they will spend at least 2 hours a day to wait out the jam in.