Personal Finance 101: Skip new car, what about second hand cars instead? Choices versus price

Personal Finance 101: Skip new car, what about second hand cars instead? Choices versus price?

This article on Top 10 New Cars in Malaysia had a great day

Published on 20th December which is considered a slow period since holidays are all coming. It still reached 196 views within a few days. Link is here if you like to know what are the top 10 NEW cars ranked in price which you can buy in Malaysia today. A good friend of over 15 years, the one whom I recommended as a strong candidate to replace me 15 years ago said, “no money to buy new car, prefers to focus on second hand instead.” Good idea. So, I will write about second-hand cars then.

Assumptions, need some so that it’s focused

Maximum price would be RM50,000 and this is because I feel that the monthly repayment is still acceptable. As per the image below, even at 4% interest rate, it’s below RM700 per month. I think it’s acceptable lah.

Meanwhile, from my understanding a few years ago, one could still get a loan of 7 years as long as the car is below 9 years old. perhaps not for every car model but the usual ones should be just fine. If someone knows otherwise, do correct me yeah. Else, find your friendly car sales person and ask.

We will also be using this as source of info: carlist.my and we will only focus on cars which are 5 years on the road. Nothing higher, nothing lower. I think it’s still new enough.

#12 – Highest – Honda City – 5 years – RM49,999 (hybrid yeah…)

#11 – Perodua Myvi – 5 years – RM47,000 (king of the road they say)

#10 – Volkswagen Polo 1.6 (European marque)

#9 – Proton Exora 1.6 (turbo 7 seater)

#8 – Kia Picanto 1.2 (nippy and non-national brand)

#7 – Perodua Bezza 1.3 (A segment most popular sedan)

#6 – Peugeot 208 1.2 (turbo yeah)

#5 – Nissan Almera 1.5 (Segment B car with long leg space for passengers)

#4 – Proton Iriz 1.6 (I drove once, nice to drive)

#3 – Perodua Axia 1.0 (saves fuel…)

#2 – Proton Saga 1.3 (pretty okay lah, stable)

You can continue the search too. Link is here. carlist.my

If you like to know how to choose second hand cars, here’s a good video to listen to. It’s a video from a friend, Kon who’s in the car industry and is pretty well known car reviewer too. He does not know I promote his video here. 🙂

#1 – Haha. Buy new car with typical 3-5 years warranty lah. 

Just extra few thousand. Read here for the info. Perodua Axia 1.0 G (NEW CAR). In other words, 3-5 years of total peace of mind yeah. It’s a choice which is just RM8,000 difference from the cheapest 5 year second hand car.

Happy choosing, whether it’s the top 11 second-hand cars ranked according to price or that RM8,000 difference to get a brand new car with warranty.

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