This guide is based on my own experience of purchasing so far 3 cars and our current intention of selling the 3rd car and buying the fourth car.
Depreciation is when you buy a new car and the car value drops 5% to 90%. Our first car is a new car worth RM44k and we sold it off after 2 years at RM33k, with a trade-in for a second-hand recondition Japan car that cost RM50k. We were lucky then (at least I thought so at that time) as we did not need to top up any money for the trade-in (it is very common to top up money as the value of a second hand is bad due to the market condition).
Interest is where the bank charges you for borrowing their money to buy your ride. (Example: X, Loan amount = RM50k (car price OTR) - RM5k (Downpayment) = RM 45k Y, Interest = 3.8% Z, Loan Term = 5 Yrs
To be continued...
How much you pay INTEREST ONLY = RM45k x 3.8% x 5 = RM8,550.00)
So think twice before you decide to increase the values of the three variables X, Y and Z.
See part 2 here http://ez-photo.blogspot.com/2009/08/car-buying-guide-for-lower-medium-class.html
1 comment:
Uih? Aku rasa macam molah my business paper agi. Hahaha
Post a Comment