{"id":10015,"date":"2018-08-10T06:38:58","date_gmt":"2018-08-09T22:38:58","guid":{"rendered":"https:\/\/x.www.carsome.my\/news\/looking-to-buy-a-car-read-this-first\/"},"modified":"2025-05-20T16:02:24","modified_gmt":"2025-05-20T08:02:24","slug":"looking-to-buy-a-car-read-this-first","status":"publish","type":"post","link":"https:\/\/www.carsome.my\/news\/item\/looking-to-buy-a-car-read-this-first","title":{"rendered":"Looking To Buy A Car? Read This First!"},"content":{"rendered":"

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Did you just get your first job? If not, are you looking to get a car? Do you need one?<\/p>\n

These questions are easy and straightforward, but unfortunately the cost involved in getting a car isn\u2019t. This was the discussion at the recent roundtable with Bosch Automotive Aftermarket, Allianz Insurance and RinggitPlus.<\/p>\n

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The session was to discuss and provide insights into financial planning, vehicle protection and car maintenance factors; cost benefits when purchasing a car. But does affording a car involve just the downpayment and instalments? According to Hann Liew, Founder of RinggitPlus, the individual must first ask if getting a car is a need; and if they can afford it.<\/p>\n

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\"\"<\/a>In this slide, the total cost of ownership based on a RM 50,000 car is an additional 30 per cent on top of the car in its 5th<\/sup> year. Add in depreciation, running costs, interest and maintenance and you have quite a bit of payments to make.<\/p>\n

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\"\"<\/a>This might be a surprise to you, but even an individual on a RM 4,000 monthly salary should only afford a RM 37,000 car based on the 20 per cent monthly total cost of ownership rule.<\/p>\n

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So should you then look at a used car instead of purchasing new? Either or, your vehicle will need insurance. When looking at an insurance perspective, Sazali from Allianz stated that used cars usually have a lower insurance premium compared to new cars.<\/p>\n

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\"\"<\/a>In this chart, the average vehicle depreciation value after 10-years of a RM 50,000 new car is a whopping 68 per cent.<\/p>\n

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\"\"<\/a>Here the table for insurance premiums are based on continental, local or Japanese models showcase the differences in percentage. Detariffication factors are also one that will affect premiums based on the individual.<\/p>\n

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What about maintenance? This cost factor is also occasionally ignored, but it doesn\u2019t have to be a burden. \u201cIf you\u2019d like to better optimise your car maintenance budget, either DIY in the upkeep of some auto parts such as changing your own wiper blades or opt for reputable brands for auto spare parts as they can lower your car maintenance cost by 25 to 50 per cent\u201d, said Go Boon Wah, Marketing Manager, Bosch Automotive Aftermarket Malaysia.<\/p>\n

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Optimising the car maintenance budget are points that Bosch has put together. These are:<\/p>\n