Tuesday, January 22, 2008

Adoooiiii....Sakiiitt.....!

My friend would make hell of a lot of noise each time her car is due for road tax and motor insurance renewal….not so much for the road tax and insurance itself but because that would be the time when she finds out the value of her wheels. Noise or no noise, the issue is usually forgotten soon enough and she continues her love affair with those beauties. …changing to new models whenever she gets tired of the old one.


Those early days, she moved around in Japanese models but is now into German technology. She bought new a 2006 model in February 2007 for close to RM270,000, discounted RM20,000 from the original selling price of about RM290,000. What a steal! Now, just a mere 11 months down the road, she discovered that the current market value is nothing more than RM225,000.
**gasped...** A whopping RM60K+ loss in value for a 11 months old car! Adoooiiii.....sakiiiitt....!


"Ada betul kah?" she asked in disbelief.


Betul…more than betulshe was told. In the motor trade, cars are valued based on model-year and in her case, Year 2006, is now considered 2 years old eventhough she has been driving it for 11 months only. Based on an average of 20% depreciation rate per year, the RM60K+ loss is about right – [RM290K x 20%] x 2 years.


She can afford the car but it is painful nonetheless ….”RM60K wor!” she wails.


I know...I know.....buying and maintaining a car has burnt many holes in my pocket too. **sighs…** If only I am brave enough to learn to ride a motorbike.



 
posted by nyonyapenang at 12:04 AM, |

34 Comments:

  At 2:22 AM Anonymous zeroimpact said:
Yes, but then after a while, it just does not seem to go any lower already
:P
But then the hole it burnt before that still has not been patched
:P
  At 7:42 AM Blogger Sue said:
It's Volkswagon ka? Passat? hehe..
  At 10:24 AM Blogger Kopi Soh said:
Why she din sokong our industry and buy Prothong?
  At 7:19 PM Anonymous suituapui said:
Buy house better! Value appreciates! Car...the value depreciates like nobody's business!!! And new car...so many worries! Afraid people steal, people scratch (and teachers...afraid students pour acid!), people bump into u and vice versa!!! What for? Can jalan one already ok!!!
cannot be more sakit than me when i traded in my ex Korean car.... wuaaaaaaaaa....uwaaaaaaa
Is taking bus an option?
  At 3:20 AM Blogger PEARLY said:
oh gosh 60rm ka I would put down on a house dep l,
she is really KAYA la you friend
how are you byy the way? lot of love to you sorry been very long time didn't pop over .
  At 10:40 AM Blogger J.T. said:
wow... RM60k .. that's painful. Then again, cars are like that. They keep depreciating until they cannot depreciate anymore.

I agree with Pearly. I would rather use RM60k as downpayment for a house (than lose it in a depreciation). Then again, if your friend is rich, what is RM60k to her? Cry for a while (adoi! sakit!) but still get to drive around in a car that says she's rich. :) Oh well, to each his/her own. She worked hard for it, she deserves to treat herself. Don't we all deserve to treat ourselves to something we can afford?
  At 11:24 AM Blogger Nightwing said:
Hello,

Once a car goes out of the drive way of the car seller place...value starts to drop...:(

Oh ya, when u r free, can u pop over to judge something...:)
  At 12:03 PM Blogger Hazel said:
i feel headache also during thsi coming MArch coa need to renew my roadtax and insurance???
  At 6:27 PM Blogger seefei said:
aiyoh, driving bm still worry about depreciation. ask you fren to relax lah. when you are in the atas level, dont behave like bawah kaki lah.
tats y i SO the boh chap cars... HAHA.
in japan is sooooo good lo. they see millage for the price of the car wan~ so doesn't matter if you use for 10 years if you go out less... it's still good price... but then if you seldom use... want the car for what! HAHAHA.
Hi Zeroimpact,

Pain or no pain....we still are buying cars and like me, slog to pay the instalments. By the time finished the instalments, the car starts giving problems liao.
Hi Sue,

Bee-Em.
Hi Kopi Soh,

Bee-Em got style wor.
Hi Suituapui,

RM290K can buy luxury car but RM290K can buy maybe only 1 luxury toilet in a bungalow. :P
Summore not everybody knows you got RM290K toilet mah. With the car, at least you can drive around and show everybody your car. hahahahah.....
Hi Laundryamah,

Ah...those painful stories. Buy new car...it depreciates so much. Buy second-hand unit, the hire purchase interest is a put-off. Any which way, we lose.
Hi The Real Mother Hen,

Taking the bus? At the moment, public transport leaves much to be desired and for those who moves around alot, it would be more convenient to have their own set of wheels.

Thanks so much for dropping by. Do come by again.

You have a pleasant day. :)
Hi Pearly,

Over here the cars depreciates a lot. And buying cars is a very costly affair.....we pay high taxes on luxury models like Mercedes, BMW, Audi, etc...

I am doing OK, Pearly. Thank you so much for your kind thoughts. No worries about not popping by here. You are a very busy lady......a working woman, a devoted momma and a loving wife, a filial daughter and a warm-hearted sister....
Hi J.T,

Here, we pay very high taxes on luxury models and with the manufacturers coming up with newer models all the time, the older ones depreciates severely.

This friend of mine...every time also say the same thing..."Oh, not going to change cars anymore..bla..bla...bla.."
And there you see her with new model. She has weakness for cars. :)
Hi Nightwing,

Very true! That's why it is not very wise to 'over-borrow' from the banks when buying cars. Pay...and pay and pay and at the end when you decide to sell, you may still owe the bank money.
Hi Hazel,

Thank goodness, now the road tax for smaller capacity cars has been reduced. As for insurance, we really cannot scrimp here...not wise to under-insure the car.
Hi Seefei,

hahhahaa...you are so right. Can drive that type of cars hor, no need count pennies liao loh. Sap-sap sui!
Hi Daniel,

Wah...if we have the system like the one in Japan, my car won't depreciate so much lar.....very low-mileage one. :)
  At 5:08 PM Blogger famil said:
wah nyonya,

never knew you're a rempit type :p
  At 6:32 PM Blogger ah nel said:
anyhow u wont try to ride wan as i say buying bike last time u told me so dangerous... ;)
Hi Famil,

Cakap aje....:P
Hi Ah Nel,

Gua tak cukup berani loh. :)
  At 10:15 AM Blogger Hazel said:
here a Big Bang - World Record Tag for u. Have fun.happy weekend!
  At 12:17 PM Blogger Pi Bani said:
Kayuh basikal lor... no need road tax, no need insurance, no need petrol.

But... haiya... sudah tua kepala lutut oso sudah longgar...
  At 2:56 PM Blogger Nightwing said:
Helo Nyonya,

Another clip is up.
Hi Hazel,

Happy weekend to you too! :)
Hi Pi Bani,

Tak berani lar....the buses are so big and the cars are so fast..dowan to be rolled over.
Hi Nightwing,

Already took a peek. :)