Cost Of Owning A Car In Malaysia
Buying the car is just the first cost. Before you can drive the car away from the showroom, you have to pay for registration plates for it. Then, as soon you have drive it away, the car is not new any more. You have use it. Other people who want a new car want one that is brand new. They do not want one that somebody else has been driving. People would not pay as much as for your car s they would for a brand new one.
After you use the car, even for a little while, you may be able to sell it for only about three-fourths or less of value as much as you paid for it. The loss in value of the car is call depreciation. If the car cost you RM37,000, someone else might pay you only RM29,600. That means it cost you RM7,400 just to own the car for a little while. We says it value has depreciated; the value has gone down.
Owning a car costs money. The cost of buying it is the first and biggest cost. You can pay cash, or they can buy the car on an installment plan. Under an installment the payments can be spread over a period 3 years, 5 years and up to 9 years. The car will cost more on installment plan than on a cash payment plan. However, for all Malaysians to buy a new car should be way in debt by the payment of monthly installments. Malaysians as a whole can not afford to purchase for cash as prices for the cheapest new car is having a low-cost housing units. The price for a car is not cheap in Malaysia, new car buyers may be in debt to pay up within 9 years. And of course the price for a car of RM37, 000 will improve further when mixed with the interest.
The next big cost is insurance, in case you should have an accident. The price of insurance depends on who is driving the car and where it is driven. In addition, the age of cars more than 15 years can not buy the premium for this type of comprehensive, but only a third party. And, not all insurance companies authorized to do so. It’s like a hidden agenda, forcing the public to no longer use the old car. But to encourage a culture of debt increase.
You need fuel and oil to make the engine run. You might have to pay tolls to travel on turnpikes, highways and bridge like to go to Penang Islands.
There will be washing and polishing to keep the paint looking nice. After a while, the car will need service and repairs. There will be new parts and new tyres to buy.
Even when you are not driving, the car costs money. You may need a garage and a driveway. They are expensive to build. Meanwhile, those who live in apartments or condominiums must pay an additional monthly fee for parking the car. But those who live in apartments that are not available, enclosed parking area, cars must park in a place that is open to the hot rays of the sun and rain. The color and condition of the car if left to continue with this condition, the car is easy to see the tear.
Parking places are hard to find especially in large cities such as Kuala Lumpur. Many cities have parking meters on the streets. Drivers must pay to park beside them. Drivers must also pay to park in city parking lots and garages.
We assume that if working in a European country for example, in Holland. We work and pay the same amount of salary as the amount in Malaysia. The difference is money. If in Malaysia we paid RM3,000/month and Euro3.000/month in Holland. We do not compare the currency exchange because we are living in Holland will be paid a salary of Euro3.000/month and shop there with a monthly income of it. To buy a new car in Holland, for example Daihatsu Curreo model or here is the Perodua Viva. In Holland the price of the car around the Euro6.000 in Malaysia compared to the price of a similar car is RM42,000. This means that if we are living and working in Holland to buy the car in cash in a period of 3 or 6 months working for a total Euro3.000. But in Malaysia we are not able to raise money wages in the 3 or 6 months to get the RM42, 000.
In conclusion, many Malaysians spend as much money each year on their cars as they do on rent for their homes.