Merepek

My friend Az is thinking of getting a new car. So off she went to the showroom the other day to a find out more about the intended model and also go for a test drive. She is happy with the car and told the salesman of her intention to trade-in her 4-year old car. However, when told of the trade-in value, Az almost fainted. Az had taken a 90% loan payable over 7 years and if she decides on the new car offer, she still has quite an amount to settle with the finance company. The old car has depreciated soooo much - the trade-in value is lesser than the outstanding loan. Dielah, like that, got to to pay the outstanding amount and also the 10% downpayment for the new car. You see, Az is actually thinking that she can save some money if she buys a smaller new car because the hire purchase interest rate is so much lower(the new car will get something like 3.5% or so) now compared the one she is currently servicing @5.8% and the new car comes with something like 2 years free maintenance. And can save on petrol and road tax too.

Save money with a car? Joking ah? I made a quick calculation on how much I have lost buying cars(3 used models and 2 new registrations)over 15 years and it freaked me out - it's close to RM200K! This figure covers cut-throat finance charges but not maintenance/running costs. I wanna cry! Seriously, I believe I was mad when I signed those order forms. How else can I explain throwing away my hard-earned money this way? Make me wanna kick myself hard. Pull own ears and repeat self-talk - "A car is a liability. No more new cars for me." So PAINFUL and so SAD lah.....

Then I heard a familiar voice say "Hey, that's not a bad thing altogether. It shows that you are doing fine to be able to pay for it." I hear this inner voice every time I write a cheque to our dear Lembaga Hasil Dalam Negeri. Self-consolation. But it will always put a smile back on my face.