IF you are planning to buy a car, it is often suggested that the car you choose should not cost more than your annual salary.
After all it’s not just about paying that monthly car loan, you need to take into account the vehicle’s road tax, the car insurance, the services, and the unexpected repair costs.
An anonymous 29-year-old woman recently shared her regret after purchasing a car that became a financial burden to her.
In the post shared by @ammarFRS, the woman explained that she had “made a big mistake” back in the day by purchasing a Honda City.
The 29-year-old who earns a gross income of RM4,300 says that she is now “still recovering” from the purchase and unfortunately, doesn’t have much savings due to the costs involved in car ownership.
To make matters worse, she added that she doesn’t even have sufficient savings to last her for a month.
She also confessed that she’s really bad with her finances and requested the help of netizens for advice on the matter.
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The X post has since gone viral with 849,000 views with many netizens sharing bits of advice on how to bulk up her savings.
“Don’t fall into the trap of trying to impress others with an expensive car, while secretly stressing every month when looking at your bank statement. Start small, build your financial foundation first, and gradually upgrade when you can truly afford it. Your future self will thank you for being wise now!” said @ammarFRS.
@ammarFRS also suggested the woman to take up freelancing or side jobs in order to build up her savings.
“My advice, sell the car and settle the remaining loan balance. Then, opt for a more affordable car with lower monthly payments for your commute,” commented @ManjitSinghG5.
Meanwhile, another netizen took to the comments to share her own experience of choosing for a more affordable car, despite having an interest in a more expensive car.
“My best decision was to buy a Persona even though at the time I was tempted by the Vios. I even went for a test drive. But after going home and doing the calculations, it seemed like my salary wasn’t enough. So, I chose the Persona instead. Back then, my salary wasn’t even 3k, but because I was an engineer, I still wanted to experience owning a foreign car. Now my salary is over 8k, and I’m happily paying only 550 per month. Hahaha!” shared @sshbaki.
READ MORE: Youth buys RM100k car on RM4k salary
