Malaysians are car crazy, like these are gadget crazy. Texting, technology toys, gaming and cars looks like it’s the ‘must have’ for many young working Malaysians prior to dependence on a roof over their head.
(the necessity for an existing retro car pictured above can be an investment)
Many people throw in the towel financial freedom with regard to their whole lives solely as a result of decisions they generate utilizing their cars. Yes, it seems like a bold statement, even so realize its frightening how true it is.
(or perhaps a weekend race car for some serious fun driving can be hugely costly)
For plenty of people, an automobile is the second largest purchase they ever make. Second and then their house. The big difference is regardless of whether they’ve created an undesirable home purchase, generally speaking it’s going to go up in value over time. Car depreciation alternatively, is really a beast of burden. No matter whether acquire the latest or second hand car, it’ll go down in value (unless it is actually classic car buy), but the key is just how fast would it drop in value?
(the weekend only car the very best drives and quick overnight get-aways….the biggest depreciation of most)
So, when you compare a whole new car vs. a 6-year-old car, the newest car will suffer a couple of thousand ringgit approximately in resale value every month. The 6-year-old car on the flip side will lose hundreds ringgit or possibly even longer each month. If you think maybe regarding this from an investors perspective, it is possible to note that in case you must have a great investment that loses value, you’ll likely opt for the one which loses LESS every year.
(the drift car for serious driving fun…..plan for a wholesome bank balance or maybe a thick wallet parent)
So exactly why do many middle-class Malaysians using a tightening economy have got a 3rd car in their home? We wonder why oh why.
(owning and building a true classic will probably be an asset)