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

Your income .....to buy a car


  • Please log in to reply

#1
scenic

Posted 28 April 2005 - 10:21 AM

scenic

    Tokyo Drifter

  • Members
  • PipPipPip
  • 3,156 posts
Would like to hear from you guys what's your monthly income to buy a car ?
Let say for a loan amount of RM50K to RM80K.

#2
Siew

Posted 28 April 2005 - 01:42 PM

Siew

    Veteran

  • Members
  • PipPip
  • 245 posts
Year Monthly Income Car Loan
1995 RM1,400 Proton Iswara RM30k
1999 RM2,500 Proton Wira RM20k
2002 RM8,000 CRV (2nd hand) RM15k
2005 Very Gatal already....wife say not to change.


#3
scenic

Posted 28 April 2005 - 01:52 PM

scenic

    Tokyo Drifter

  • Members
  • PipPipPip
  • 3,156 posts
Thanks, Siew. If I were you for RM15K, I will just settle one shot instead
of loan like what I do with my ride.Big Smile

#4
nick1994

Posted 28 April 2005 - 03:41 PM

nick1994

    Fast & Furious

  • Members
  • PipPipPip
  • 1,370 posts
..work backwards ........reasonable tenor, say 3 yrs.....interest say
3.5%..........say, shld commit 20% of take home pay for car....

....so voila.......RM 12K net take home pay for a RM 80K loan......

#5
hlchan1

Posted 28 April 2005 - 05:28 PM

hlchan1

    Taxi Driver

  • Members
  • PipPip
  • 400 posts
1998 Toyota LE(13yrs old) Cash RM12.5k
2000 Proton Wira 1.3 (4yrs old) Cash RM32k
2001 Toyota SEG (6yrs old) Cash 43k
2003 Toyota Vios G (New)Loan 30k
2005 Want to downgrade to old car about 20+k. Need start up
capital for business. Waiting for July when Vios price increase.

Basically I would think, get a loan of max to 3 years. Loan amount is up
to individual as long as car price is about your annual income.

scenic, how about your car history?


#6
scenic

Posted 29 April 2005 - 09:48 AM

scenic

    Tokyo Drifter

  • Members
  • PipPipPip
  • 3,156 posts
1996 old Saga 1.3S second hand year 1989.

1997-2004 Scenic 1.6(M)[sold away out of anger due to poor service by
Renault previous dealer Quasar Carriage S/B for their whole tenure as
Renault dealer] Till today still miss my Scenic ride. Good news is Renault
is now distributed by Tan Chong Holdings Bhd. Renault owns Nissan as well.

2/2004 to 6/04 City iDSI [sold off after 5 months. Lost RM4.5K. Didn`t
like the stability of the car]

7/2004 till present 740 GLE(A)series. Bought cash for RM18K and spent RM7K
cash again to do up the car.

2005 ? My current ride is in tip top condition. Don`t know will change
ride or not. No hurry though.

My income is in the regent of a xxxxxx spec. SmileBig Smile

#7
hlchan1

Posted 29 April 2005 - 01:11 PM

hlchan1

    Taxi Driver

  • Members
  • PipPip
  • 400 posts
I deleted my income, worried my colleague finds out, quite sensitive issue.

Just now, chit chat with my colleagues. I was really surprised on how
commited are they on owning a car.

1st Guy. Sold off his 4 yr old wira - He lost completely coz' he has 3
more years loan to go with 7% interest at that time. Basically, it's just
handing his car to the salesman to sell off to clear his debt. Fork out
another 15k+ for downpayment for his new perdana. Took RM85k loan for 7
years again. Really respect him lah.

2nd Guy. Just bought a new honda accord 2.0 with loan of 130k for 9 years.
Not very sure about his pay, I would guess also about 5k max..

#8
scenic

Posted 29 April 2005 - 01:28 PM

scenic

    Tokyo Drifter

  • Members
  • PipPipPip
  • 3,156 posts
hlchan1,
Don't knowleh, really respect those ppl out there who took 7 or 9 years
loan for a huge loan amount. For me, I dare not do that. May be age
catching up, no more flashy rides guess. A friend, young chap about 27
years old just took up a loan of RM85K at 2.6% for 9 years for a Picasso.
Down payment RM27K. Worth it meh ? Original budget was RM45K++ but shot up
to RM112K eventually. Of course new car is always nicer to drive and feel.

What business venture you have in mind, friend ?

#9
Siew

Posted 29 April 2005 - 01:44 PM

Siew

    Veteran

  • Members
  • PipPip
  • 245 posts
Yup, really respect those guys.
Three weeks back, there was one guy that offered me to buy my aging CRV at
RM75k, I was more than happy to sell it. Later, he told me, he will be
buying a new CRV instead as the loan period can be extended for another 4
years to nine. Buying 2nd hand car gives him 5 years max only.

He paid RM4,000/ - down payment and paying about RM1,600 for the rest of
nine years. Phew...cannot imagine.


#10
hlchan1

Posted 29 April 2005 - 01:51 PM

hlchan1

    Taxi Driver

  • Members
  • PipPip
  • 400 posts
scenic,

It's amazing how commited they are driving a 100+k car and not owning
anyhome. Juz pay rent everymonth..

I respect you also.. U used to own a scenic and a new city for 4 months!
What was the loan you took for the City? How much interest was wasted?

Actually the business is not for me, it's for my wife. I have a stable
income and my wife have this business talent. Don't mind the risk
involved, she has done her homework. Very likely into fashion business.
Women money are easier to make! haha..

Still looking around for a cheap brick for my daily ride.. Will probably
decides in July after selling my Vios.

Got to go... meeting at 2pm..