Comments on: Buy House before Car

By: KCLau

KCLau — Sat, 27 Feb 2010 00:42:58 +0000

Hi Rudy,
We all have a desire for something.
It is nothing wrong to buy your dream car, as long as you had planned for it. If it is within your budget, please go ahead.

By: Rudy

Rudy — Fri, 26 Feb 2010 17:19:36 +0000

Hi KC,
I am 46 yo, own 3 cars which is one for me, my wife and my younger sister to drive my mother around. I have 2 bungalows, a double storey terrace, 2unit condos and 1 medium cost flat. Recently I sold a low cost flat and earn 100K in cash. I really crazy about to own a 2nd hand Mercedes sport. I felt bit strange with my desire coz when I was young I only bought a station wagon instead of sport car. My friend said that my behavior is normal as to balance up with my age as I am getting older. I am in the dark now, could u give me some advice weather to invest more on property or enjoy my car enthusiasm.

By: Eric Lim

Eric Lim — Fri, 15 Jan 2010 11:38:35 +0000

thanks for your reply KC. I agreed with u car ( drepreciation ) but i still wondering if i sell the car which still have 4 years loan to go..my parent will dun have any transport already. Do you suggest me to sell the car with loan n reloan another cheaper car for my parent? By the way, if i am not renovate the house can i still reloan the house since the interest ( BLR ) is quite low now. KIndly help .

By: KCLau

KCLau — Tue, 12 Jan 2010 09:42:08 +0000

Please sell the car if you don’t need it anymore (it depreciates). You can buy back the same model when you come back in the future and it will definitely cost less.
Refinancing for renovation? Since you are at oversea, why do you need to renovate your house? is it for your family?

By: Eric

Eric — Fri, 01 Jan 2010 08:06:56 +0000

hello KC,

I am 29 years old and currently own a medium cost terrace house in Kuching. By the way, i also own a nasional car and still leave 4 years to pay for the loan. I am just wondering should i refinancing the house for renovation purpose or sell the car as i am no longer using it. ( working in oversea )

By: KCLau

KCLau — Mon, 12 Oct 2009 02:55:16 +0000

Great to know that.

By: Julian

Julian — Sun, 11 Oct 2009 04:33:09 +0000

I just bought a unit of high rise condominium in Penang. This is a new launching property and i found that it’s great in value and good location will definetely allow the value to appreciate in long term. Somehow, i m still driving my old cars that i bought in year 1999 and i find no reason to buy a new car since the existing car i m driving now still in good condition and fun driving around.

By: KCLau

KCLau — Fri, 09 Oct 2009 02:27:58 +0000

Hi Suanze,

It depends on his priority. Of course, it makes financial sense to buy a house first because property will appreciate and cars definitely don’t appreciate in value.
But if he desperately need a better car, he will need to sacrifice some financial resources.

By: Suanze

Suanze — Tue, 06 Oct 2009 04:21:33 +0000

I have a fren who doing well in his career and his boss proposed him as a business development manager which he should always drive here and there to their branches. His current car is old and for those who have same experience will understand that the old car to drive from KL to Perak to Seremban to Melacca & heading to JB everyweek is terrible. So he was thinking to change a new car but at the same time he is preparing for his wedding and would like to own a house….He ask for my advice…I hv no idea… Pls advice…

By: KCLau

KCLau — Thu, 24 Sep 2009 04:31:18 +0000

Hi Lai,

Some people need a good car as an investment – these people are businessmen, entrepreneurs, salesperson who need to give confidence to their employees and customers.
For an employee, car is indeed a liability.

By: KCLau

KCLau — Thu, 24 Sep 2009 04:28:53 +0000

Great to hear that!

By: safnate

safnate — Mon, 21 Sep 2009 08:08:24 +0000

@ KCLau,

Thanks 4ur reply!
I decided to buy a car first, as i knock off very late @ work, cause i study aftet working hours. I am currently grooming my career. I bought a used car cash, it was a good deal, and used the money left to pay off my debts, If u want to save money you must pay your debts first.Now i am saving to buy my house.

By: Lai

Lai — Sat, 19 Sep 2009 17:32:36 +0000

hi KC,

i have some friends and also relatives who advise me to buy a good car, even if pay back in 7 years, just think of it as renting the car, use my extra cash monthly to get property. meaning using the 7 years to pay back to buy time. is this idea correct?

i mean all these while, i always think a car is a liability, and can never understand their point. maybe because i am an employee, and some of them are actually self employed. maybe it is the tax reason??

By: KCLau

KCLau — Thu, 28 May 2009 01:49:32 +0000

@ Safnate,

We all have limited financial resource. So you must decide for yourself which one is more important. We have different values in life.
If I am in your position, with my own set of values, I will buy the house first.

By: Safnate

Safnate — Wed, 27 May 2009 09:16:05 +0000

Interesting Article,
I am a guy age 24, Currently renting, I am planning to buy car, but at the same time i need to buy a house as an investment.
I can’t afford to buy both. But please provide any advise.

By: Relax

Relax — Fri, 17 Aug 2007 11:59:25 +0000

One more thing : Car (transport) has alternatives like bikes, train, bus, carpool

House, you can choose somewhere nearer to workplace.

What do you think?