IT’s a well-known fact that the moment you drive a brand-new car out of the dealership, its value immediately depreciates—often by around 10 percent.
One man, however, learned just how much his luxury car’s value plummeted in just three years.
Moshed Mohamad shared on TikTok that he purchased a Mercedes G-Wagon for a staggering RM1.45 million. But when he decided to sell it three years later, he could only get RM670,000—resulting in a jaw-dropping RM780,000 loss.
At first, Moshed felt a great sense of pride and excitement driving the high-end vehicle. However, the reality of depreciation hit hard when it was time to sell.
Despite the financial blow, he admitted feeling a sense of relief after parting with the car, as he no longer had to worry about its declining value, costly maintenance, fuel expenses, and high insurance premiums.
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“With a V8 engine, you can only use RON97, and a full tank costs around RM350. The insurance alone can go up to RM30,000,” he explained.
“A car isn’t an asset, it’s an expensive liability.”
Moshed also observed that many young Malaysians today prioritise expensive cars, sometimes at the expense of their financial well-being.
“For those who can truly afford it, it’s not an issue. But for those who can’t, that’s where the problem lies,” he said.
“Big car, small house. Luxury ride, but instant noodles at the end of the month. All just to appear successful.
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Reflecting on his own experience, he admitted that he once had the same mindset but has since reconsidered whether it was truly worth it.
“Sometimes, we chase things that we believe will bring us happiness. But when we finally get them, we start questioning—was it really worth it?”
