Navigating the intricate world of car loans can be a confounding endeavor, especially when practices vary across countries like Malaysia, the US, and Taipei. In this eye-opening blog post, we unravel the seemingly complex mathematics behind car loans, shedding light on concepts like flat rates and effective interest rates. Whether you've mastered calculus or are still perplexed by basic trigonometry, you'll gain insights into the practical math that influences everyday financial decisions. From personal anecdotes to professional analysis, join us in exploring how understanding the real cost of car loans can be a crucial step towards financial independence. And for those keen to apply these principles, discover an opportunity to unlock the path to accumulating wealth and living free.
Meet Ben. Ben is a 30-year old engineer making RM 8k a month. He has a car and a house. He bought his car 5 years ago with a 9-year car loan
For many years, I blindly followed that definition, until one day when my good friend Peter Lim pointed out a misconception, a flaw in Rich Dad’s definition. I suddenly have much more clarity about the meaning of assets and debts, and how it is good or bad.