It’s totally untrue that we should only buy properties but not cars. If we are a working professional and we are already at a respectable level in the organisation, we deserve to drive a better and safer car. Certainly cars with airbags, ABS and EBD today, regardless of the brands we love. Before I forget, it is however recommended that we get a property first before a car, when we could only choose one. Haha. Anyway, if we could afford a Segment D car (Camry, Teana, Passat or Accord), it may be wiser to save some of the funds (easily RM30,000 or more) and get a comfortable Segment C instead (Altis, Sylphy, Jetta or Civic). Safety wise, they are similar. Only the interior size and noise level may be a little different. For those who are rushing to buy another property, then a good segment B car can still carry us around. (Another RM30,000 savings) They include Polo, Almera, City and even Vios. (Yes, there are also local choices and even value-for-money Korean brands. However, for the usual crowd, I will only be quoting those usual brands.)
A few months ago, I was really considering to get a SUV (second hand). I have driven my Persona for the past 6 years. It’s problem free thus far but I was attracted by the huge discounts of some SUV brands. It was like, if I do not buy then, when would I get better deals again? There are now even more deals for new cars. New car for Chinese New Year? This may just be that time. Full article in TheStar detailing all the different offers here. Some deals highlighted? Naza offering rebates up to RM25,000. Honda offers up to RM12,000 discounts. Toyota models with up to RM10,000 discounts. Nissan is offering unto RM6,500 while Ford has discounts of up to RM12,000. Of course, the highest discounts are usually reserved for more expensive or less popular models. Do read the article for all the available deals.
Anyway, this is what FOMCA secretary-general Datuk Paul Selvaraj has to say to potential buyers. (Quite true!) He said, “If they are able to manage their finances well, now would be a good time to get a car. However, they need to see if they really need to buy a car as it is the largest expenditure next to buying a house.” He added that the failure to repay car loans was among reasons why many were made bankrupt. Still remember the savings overtime we buy one segment lower? I think he wanted to also remind everyone to buy well within what we could actually afford. Yes, I know the feeling of driving a new car. It’s great, well at least for a few months anyway. Test drives are free by the way. 🙂 Just like viewing ever more properties, especially those attractively priced ones. Get a good car, ok. It’s not a clever move to drive a problematic car that breaks down occasionally causing us lots of unproductive hours. Happy buying.
written on 10 Jan 2017
Next suggested article: Bankruptcy before property, not after property, perhaps