People are simply buying! Not everyone needs new cars, right?

 Everytime I tell people that times are not bad (means people have jobs and money and could still spend), quite a number would tell me that the situation is dire. In fact some are saying that the Malaysian economy is about to collapse. I wonder where they got the idea from but anyway, we have a new government, so all should be fine and dandy now. 😛  Anyway just a few days ago, this article was published in TheStar. Take a look at the title yeah. “We are sorry, we have run out of cars.” Yes, within the article, it was mentioned that many of the car brands have already fully sold their July stock. In brief, the earliest one may be able to get a car may be August and beyond. WOW! What’s happening?

One key word would be opportunistic, maybe? The reduction of GST from 6 percent to zero PLUS the potential ‘threat’ that car prices may move upwards because of the upcoming SST which has been rumoured to be 10 percent. Of course including the fact that it’s RAYA holiday, so many have taken the opportunity to buy a new car so that they can drive a new car home to celebrate in style. Well, if you ask me, I still think the main reason is because the buyers could afford a new car in the first place. Let’s be realistic. If one is about to lose their jobs or is strapped for cash, regardless of the discount, they would not buy! This includes even those without sufficient savings because buying a car is a 7 year or a 9 year commitment!

So, since all of them have bought cars, would they now have no money left to buy properties? Haha. Hey, that’s a real possibility right? I mean buying a luxury car and parking the car in a parking space for a flat, that’s common, right? Here’s an earlier article: Car vs property? Well, car ownership do mean something, luxury one please  I personally still think that if the particular household is strapped for cash or face the possibility of losing their job, they would not be in the right frame of mind to buy a RM80,000 car and paying over RM1,000 per month for it for the next 7 years…. In brief, a household which could still afford a new car certainly has the capability to also buy a property or even upgrade in the near future soon. OR… these households have already bought a property not too long ago and is now moving on to the next stage which is to get a new car too. My wife bought a new car after we bought our first apartment. She bought another new car a few years after we have moved to a new condo. What I want to say is this: No, I do not think property sales will drop simply because car sales went up. Happy driving your new car! (nope, I did not get a new car recently. Wife’s car is 9 years plus and mine is 4 years plus. My favourite? AUDI. )

written on 30 June 2018

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