27 yo M’sian Explain Why Driving An Old Proton Saga Is Better Than Buying New Car
Ken from Classic Automobile Renaissance shared a post where he talks about his experience driving an old proton saga in 2020. Ken explained that his choice of choosing the old saga instead of the new car in Malaysia which can be expensive considering the new car per average monthly income ration and a budget of rm500 per month for the upkeep of the new car in Malaysia is quite common.
In another hand, the upkeep for Ken’s car per monthly is around rm300 which included fuel, maintenance, and any random repairs and this will accumulate up to rm3,600 per year. But of course, there would not be every single month in which his car requires maintenance fee and there he can save up more.
Ken also shared that in the beginning, he received a lot of negative comments as the car is a poor condition before he restored it. Where he said luckily he didn’t listen to them as he would need to be paying rm500 monthly for a 9-year car loan. Which hasn’t included the fuel and insurance cost which isn’t cheap for a new car?
“Instead of tying myself up under a loan commitment, I’m better off driving this old Proton Saga and saving up all the extra money per month. What I can get with the extra money would be flexibility as it can be invested, given to family, saved up for the future, for a property, etc.”
“Do not overspend or exert your spending budget for the sake of being trendy or to impress others. Ask yourself deep down if that is really what you want before you spend on it. I think if this mindset is applied properly, it will help a lot in personal finance management.”
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