Should I Buy Car?

Should we buy car?
How do we know that our investment is a good one?

Is it an asset or liability?

There are a few aspects that we need to consider when we want to purchase a car:

Installment - RM400
Maintenance - RM300
Petrol - RM300
Insurance - RM600 per year (about RM50 per month)
Road Tax - RM90 per year
Parking - RM100 per month
Tol - RM50 per month
Accessories - RM5 per month
Car Wash - RM10 per month

Averagely, you may need to allocate RM1000 per month for a car.
It's a huge commitment that one need to bear once you own a car.
A wise person will calculate properly whether he/she has the capability to maintain the car.

You need to consider the purpose and your ability to own the car.

Another thing to consider is how the car loan installment will affect your DSR that eventually affect your credit score to get a house loan.

A rule of thumb for the loan installment is that it will not exceed 10% of your monthly nett income.

Listen to the podcast below from BFM.

http://www.bfm.my/buku-tiga-lima-pembelian-kereta.html

Sypnosis:
Pada masa kini, kereta dianggap sebagai satu keperluan wajib untuk memudahkan pergerakan kita. Tetapi, dari sudut kewangan, adakah ianya boleh dianggap sebagai satu pelaburan yang bijak? Sekiranya sememangnya perlu kita memiliki kereta, apakah yang boleh kita lakukan untuk memastikan pembelian kita itu cermat dan padan dengan status kewangan kita? Buku Tiga Lima cuba mencari jalan terbaik untuk sampai ke destinasi tersebut.