For those who want to own their 1st car, it is a wise move to buy a 2nd hand car.
Buy a 15 years old proton saga 1.5i ( automatic , power sterling)
Cost: RM5000 (pay CASH)
Insurance: RM277.50 ( comprehensive), can even buy 3rd party insurance – cheaper
Old CAR?? Believe me, the maintenance cost is much lower than the interest payment if we get a new car!
Use the car for 3-5 years, and then only buy your dream car:
Buy a new Honda Civic 1.8 iVtec
Insurance: RM3225.90 , after No-claim Discount (NCD) 55% – we only need to pay RM1451.65
That means we save RM1774.25 every year onward of car insurance premium!
RM1774.25 x 3 = RM5322.75
So, can we consider our 1st car FREE?