Jump to content

Welcome to Autoworld Forum !

Sign In or Register to gain full access to our forums. By registering with us, you'll be able to discuss, share and private message with other members of our community.

Close
Photo

Driving expensive car but can't afford a house?


  • Please log in to reply

#1
hlchan1

Posted 21 December 2005 - 01:34 PM

hlchan1

    Taxi Driver

  • Members
  • PipPip
  • 400 posts
Just curious whether anyone owns expensive cars but couldn't afford a
home. I've a friend just barely afford and bought Altis with 9 years, max
loan but he still renting a room and limited budget for necessities.
Somemore downpayment have to borrow. To me, this is ridiculous... bad
financial management. Thought this might be an interesting discussion.

#2
toyyoda

Posted 21 December 2005 - 01:47 PM

toyyoda

    Fast & Furious

  • Banned
  • PipPipPip
  • 1,999 posts
Reminded me of a bank clerk who siphoned off RM4 million from his
employer and bought amongst other cars, Lamborghini and Ferraris. Blardy
stupid fool was brazen enough to show his face in the papers and was
promptly arrested and charged. Happened in KL around a decade plus ago.

#3
kowkowchan

Posted 21 December 2005 - 01:53 PM

kowkowchan

    Road Warrior

  • Banned
  • PipPip
  • 785 posts
Aiya....

Nothing is more riduculous than those who can afford to buy a car but yet
cannot afford to pump petrol , especially those buying a non national
car .Seem like those ppl oledi started facing financial difficulty after
buying a car .....


#4
unpro

Posted 21 December 2005 - 02:23 PM

unpro

    Tokyo Drifter

  • Members
  • PipPipPip
  • 4,454 posts
u never go wrong buying the cheap proton

it is a good car, at least till u crash it.

#5
niceguy

Posted 21 December 2005 - 04:06 PM

niceguy

    Fast & Furious

  • Members
  • PipPipPip
  • 1,328 posts
yes, some people like to drive huge and luxury car, but unable to pump
petrol. financial management must b done before u bought the car. Keep at
least 20k after paying the downpayment, so that u would have problems,
when it comes to trouble.Smile

#6
elan

Posted 22 December 2005 - 09:35 AM

elan

    Fast & Furious

  • Members
  • PipPipPip
  • 1,309 posts
I live in a 1200 sq.f condo with a wife and a kid. Comfortable enough for
us. What wonder me is that one neighbour who has 5 kids also live there. He
drive a MB 240 Kompressor and his wife drives an Altis 1.8. I keep telling
myself if I were him, I would rather buy a big house rather than a Kompressor.

So I am trying to figure our logically if one can buy RM100K car, how much
shall he spend on a house?

This is what it boils down to:

Say, a car RM100K, Loan 5 Years.
So, for a house if I took a loan for 20 years, I shall buy an RM400K? (i.e.
20/5 x RM100k)

Does this make sense?

p/s: In reality, I observe a lot people living in a low-cost house but
drive RM50+++K cars.







#7
kinghamsap

Posted 22 December 2005 - 05:08 PM

kinghamsap

    Heart Like a Wheel

  • Members
  • PipPipPipPipPipPip
  • 24,835 posts
Ego and kiasuism is bigger than their brains, mar.

Psss... sssttt... majority of big expensive cars are charged to the
cumpany, wan.

#8
carrera

Posted 22 December 2005 - 10:59 PM

carrera

    N20 Soul

  • Members
  • PipPipPipPipPipPip
  • 26,276 posts
Must also remember that a lot of people driving high c.c cars are
actually company cars.
thats why they still stay in their humble homes.

but there are also some people who go all out to impress. Thats why big
car, but renting a house.

#9
LGX

Posted 23 December 2005 - 12:00 AM

LGX

    Road Warrior

  • Members
  • PipPip
  • 794 posts

Although no one plans to fail, but many failed to plan ...




#10
unpro

Posted 23 December 2005 - 08:48 AM

unpro

    Tokyo Drifter

  • Members
  • PipPipPip
  • 4,454 posts
I got one neighbour who spents 50k to renovate the house and proudly parks
his 5 year old proton saga.