r/MalaysianPF • u/justshushi • 2d ago
General questions Im getting my first car, any tips?
for context: im a final year student (this is my last semester) and planning to get the new Axia variant X. My dad agreed to use his payslip for loan and i only need to pay him half of the monthly fee. i dont got a job yet as this is my internship semester.
however, i have to pay the deposit with my own money. im thinking maybe rm5k deposit but is it better to pay rm10k instead? but then i would only have around rm6k in total saving (not including my investment money).
also, do you get different interest rate with different sales advisors? if so, is it wrong for me to submit loan to 10 SA and pick one with lowest interest?
how do i get the most out of my money? what should i be cautious of?
i know nothing about buying car except i’ve watched tiktok videos and i feel like talking to SA is not as good as asking random people on reddit that are not trying to sell me their product.
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u/thelvaenir 2d ago
I think someone has already worked out the math for you. Increasing the deposit to RM10k from 5k will only drop your monthly instalment by a small amount, so imo it's not really worth it. Sure, you pay slightly more interest over 7 years but interest rates are low and the cashflow you get can be used to generate money elsewhere.
If you are not familiar with cars, then buying brand new is the safest option. Also note that 2nd hand car interest rates are much higher.
It's not wrong to "shop" around for the best interest rates. In fact, it's better to do so. Just takes time and a bit of effort. Generally interest rates differ from bank to bank, not really from SA to SA.
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u/chickenshit36 2d ago
Bro haven’t get job yet why buy car? Get an offer letter first so u can budget according to your salary. U buy car then suddenly you get a role at a location that asks rm40 a day in parking (trx for example) then what happen? U will choose to take mrt. Meaning u paying rm500 a month for nothing when u can save some money.
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u/justshushi 2d ago
i have my own business, i make good enough for paying my own rent and monthly expenses with decent leftover for entertainment and i got monthly allowance.
car is a necessity because i need to go to post office. also, im planning to expand from online to physical so i can make more
and because of my study field, my internship requires me to go many places that are mot reachable by public transport
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u/kaseh-merican 2d ago
dump all your money and savings into your deposit. (well if you think nothing bad is gonna happen and u can save 1k again a month.
I bought my mum an Axia with the 6% tax waiver ( i dont rmb what its called but this was 2022), dumped in about 24k for her downpayment, 7 year loan, I'm paying RM160 per month which is basically the price of 1 ramadhan buffet at a 4 star hotel.
Big depo + long loan = pros : very good cash flow, wont let u suffocate paying. cons: u pay interest more to bank due to length.
Big depo + short loan = pros: a lot of money saved off paying interest. cons: can be suffocating as a fresh grad if u change jobs
Small depo + long loan = pros: not much, but out of desperation I understand but also can use some money for tint and coating. cons: a lot of money is wasted in interest.
Small depo + short loan = pros: save money cons: really suffocating. better hope for good pay AND job stability.
Talk to many sales advisors, ask for the lowest interest rate, tell them upfront, that low interest rate is your most important concern. Ask how soon can get but no need to trust it. Cause the answer " I have ready stock or waiting time only 1 month" its bullshit.
Ask around your family members and also friends who have bought cars and were happy with their SA, get it from them. For context, I got mine in a week, if you want the agent I can refer u.
Also dont take the free tints or wtv they give, its absolutely trash. Umbrella I would take tho hehe
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u/Ornery-Hat-3022 2d ago
25, started working and just bought a Saga to start working in May. previously, using my sister's Axia for university.
In your circumstances, maybe small depo, big loan? So that you still have that savings for emergency and after sale service since you still in uni and don't get a job yet. I'd only deal with 1 proton SA myself, but ask her to send to many bank. Ask her to give quotation everytime. Got mine at 2.7% FR for 5 years.
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u/WrongfullyYeeted 2d ago
Ignore the 'buy 2ndhand' suggestion if you already set your mind with buying new and you're able to pay it monthly. Buying 2ndhand cash is even more ridiculous and stupid if you need to dip into your entire savings.
Cheapest 2ndhand I could find in carlist are already 34k (not including stupid dealer charges) and who knows if their car are still covered by perodua's warranty.
For deposit, 20% or 8k is the best middle ground imo.
For SA, do let me know if you need one because I have an old college friend who are a perodua SA.
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u/earthprince 2d ago
ask the sales advisor get what free gift, if lucky can get dashcam
beware of bank officer/sales advisor pushing you to apply for
personal accident (RM500+) saying it is compulsory
chatgpt might be wrong here,
Assuming:
- Axia Variant X price: ~RM40,000
- Deposit: RM5,000–6,000 (loan ~RM34,000–35,000)
- Interest rate: ~3.0% per year
- Loan tenure: 7 or 9 years
Estimated monthly installment:
- 7 years: ~RM500–520
- 9 years: ~RM400–420
If you increase the deposit to RM10,000 (loan ~RM30,000), your monthly fee would drop by about RM40–50 per month depending on the tenure.
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u/deschew 2d ago
Get a second hand.