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PRICE COMPARISON BETWEEN CLASS (SUV-MPV-SEDAN-HYBRID) 2012

Model CR-V 2.0L i-VTEC STREAM ACCORD CITY INSIGHT

Net Selling Price RM 145,109.30 RM 153,984.50 RM 144,989.60 RM 87,642.50 RM 96,698.80

Registration Fee RM 300.00 RM 300.00 RM 300.00 RM 150.00 RM 150.00

Number Plate RM 50.00 RM 50.00 RM 50.00 RM 50.00 RM 50.00

Ownership Claim RM 50.00 RM 50.00 RM 50.00 RM 50.00 RM 50.00Handling Fee (For Imported Model) RM 50.00 RM 50.00 NA NA RM 50.00

INITIAL COST

Road Tax RM 438.80 RM 279.60 RM 378.50 RM 90.00 RM 70.00

Insurance RM 4,031.90 RM 4,265.90 RM 4,031.90 RM 2,497.50 RM 2,731.20

Driving licence RM 30.00 RM 30.00 RM 30.00 RM 30.00 RM 30.00

Susut Nilai (1/10 harga belian) RM 14,998.00 RM 15,398.45 RM 14,498.96 RM 8,764.25 RM 9,669.88

Interest Rate on Hire Purchase Loan RM RM RM RM RM

YEARLY COST

Harga Petrol (per liter) RM 2.10

Petrol (based RM 2.10 per litre) RM

Services RM

Engine Oil RM

Tyres RM

Maintenance and Repairs RM

Toll RM

HANDLING COST

Kos Setiap Tahun RM

Kos Setiap Bulan RM

Kos Setiap Kilometer RM

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DUTIES & TAXES ON MOTOR VEHICLES IMPORT DUTY LOCAL TAXES

CBU

(Complete Built up) CKD

(Complete Knock Down) MSP

(Multi-Sourcing Parts) CBU & CKD

Engine Capacity (cc)  MFNASEAN

CEPTMFN

ASEAN

CEPTMFN

ASEAN

CEPT

Excise

DutiesSales Tax

A) Motor Cars (Including Station Wagons, Sports Cars and Racing Cars)

< 1,800 30% 0% 10% 0% 10% n.a 75% 10%

1,800 - 1,999 30% 0% 10% 0% 10% n.a 80% 10%2,000 - 2,499 30% 0% 10% 0% 10% n.a 90% 10% Above 2,500 30% 0% 10% 0% 10% n.a 105% 10%

B) Four Wheel Drive Vehicles 

< 1,800 30% 0% 10% 0% 10% n.a 65% 10%1,800 - 1,999 30% 0% 10% 0% 10% n.a 75% 10%2,000 - 2,499 30% 0% 10% 0% 10% n.a 90% 10% Above 2,500  30% 0% 10% 0% 10% n.a 105% 10%

C) Others (MPV & VAN)

< 1,500 30% 0% NIL 0% NIL n.a 60% 10%1,500 - 1,799 30% 0% 10% 0% 10% n.a 65% 10%1,800 - 1,999 30% 0% 10% 0% 10% n.a 75% 10%2,000 - 2,499 30% 0% 10% 0% 10% n.a 90% 10% Above 2,500 30% 0% 10% 0% 10% n.a 105% 10%

www.maa.org.my/info_duty.htmNotes :

MFN = Most Favoured NationMSP = multi-sourcing parts

n.a = not applicable. 

Without blaming anyone, let’s see the taxes imposed on the vehicles here before hitting the road. There areimport duty, excise duties and sales tax being imposed on cars. These taxes are also one of the highest in the

world. This makes most foreign cars extremely expensive for the local buyers. These explain why a HondaCivic here cost RM120,000 meanwhile only US$17,000 in USA.

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Now add on the petrol, toll fees, parking fees, and maintenance expenses, you’ll most likely spend around

RM800 per month just because you own this car. For a fresh graduate earning RM2,000 a month, RM800 is

40% of your salary. 

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How do you know if you can afford a new car? The answer is the 20/4/10 rule. Michael Kling at Wise Bread (personal finance blog) shares this easy-to-remember rule: •Put down at least 20% •Finance the vehicle for no more than four years •Keep total monthly vehicle expense — including principal, interest, and insurance — under 10% of gross income

Apparently, Michael is living in the USA and he is talking about a different living standard.But the principles hold true for us who are living in Malaysia. If cars are expensive, it simply means we should get cheaper options.

According to the third rule, you got to keep your total monthlyvehicle expense under 10%. By excluding the maintenance,petrol, toll and parking expenses, you got be earning aroundRM8,000 a month in order to afford a new Myvi.Okay. I know this is kind of hard to swallow. How many yearsdo you need to climb the corporate ladder in order to get tothe income level of RM8,000 per month? Some people take

as long as 10 years to get there 

If you are following these rules, before buying a Myvi, firstyou got to have at least 20% down payment ready in yourbank account, which is about RM8,400. Secondly, by financing the remaining 80% on a 4 years hire-purchase loan, you’ll be paying RM779.79 per month. 

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Kos Purata Mengendalikan Sebuah Kereta

Tarikh Ogos 1986 Ogos 1986 Catatan

Kereta Proton Saga Mazda 323

Kuasa 1300 cc 1500 cc

Net Selling Price RM 21,006.59 RM 27,259.34

Harga Petrol (per liter) RM 0.94 RM 0.94

KOS TAHUNAN

Road tax RM 179.60 RM 213.60

Insurance RM 721.20 RM 825.50

Driving licence RM 20.00 RM 20.00

Susut Nilai (1/10 harga belian) RM 2,100.60 RM 2,725.93 Assume car average life span is 80,000 miles and 10 years

Faedah yang dibayar ke atas modal RM 1,050.30 RM 1,362.97 Assume car price replace by Fixed Deposit rate 10% pa.

KOS PENGENDALIAN

Petrol RM 1,562.20 RM 1,822.57 Assume 30 to 35 miles/ gallon with 35 miles per day.

Servis RM 306.60 RM 306.60 Assume cost per servive RM 12 and service every 500 miles

Engine Oil RM 59.58 RM 89.37 Assume 1 gallon and RM 22.50 per gallon

Tyres RM 454.22 RM 468.42 Assume change 4 tyres every 18,000 miles

Maintenance and Repairs RM 511.00 RM 766.50 Assume average cost RM 60  – RM 90 every 1,500 miles.

Toll NA NA

TOTAL COST

Kos Setiap Tahun RM 6,965.39 RM 8,601.46

Kos Setiap Bulan RM 580.45 RM 716.79

Kos Setiap Kilometer RM 0.55 RM 0.67