“Should I buy a car” is probably the question that you ask yourself the most during your early working years. It’s perfectly normal as getting a car is synonymous with hitting a new milestone in your life. Here are some insights to what life is like after getting a car.

You Will Need To Pay Monthly Instalments For The Car

Getting a car is often regarded as a life milestone because of how much it costs. A new car will cost you tens of thousands, and people often apply for car loans from banks in order to pay for it. In Malaysia, you may take out a car loan for a minimum of 1 year to a maximum of 9 years. Your car’s monthly instalment amount will depend on the loan amount and the interest rate employed. Generally, the shorter the duration of the loan, the bigger the monthly repayments.

You Will Need To Send Your Car For Service Regularly

Like most machineries, your car needs regular maintenance in order to function optimally. It is always recommended for you to send your car to its manufacturer’s service centres as they will have the necessary knowledge, expertise and experience to service and maintain their vehicles. They are also the only ones that have access to all the genuine products your car needs. For instance, if you want to replace your car with Toyota’s Genuine Coolant or Engine Oil, you can only get them from your nearest Toyota Service Centres.

Regular car maintenance in Malaysia will generally cost you around RM100 – RM300. The cost might increase should you reach a certain mileage or period.

You Will Need To Pay For Car Insurance and Road Tax

It is compulsory to purchase both car insurance and road tax for your car, and you will need to renew them every year.

I. Car Insurance

Having your car insured means that you are financially protected when your car is subjected to accidents, theft and fire damage. There are also additional coverage options such as windscreen protection, and protection from natural disasters like floods and landslides.

II. Road Tax

Without renewing your road tax, your vehicle is not permitted to be on the road. If you didn’t know, you aren’t allowed to renew your road tax if you do not own or choose to not pay for your car insurance, which is why these two go hand in hand.

Your insurance premium will be based on your car’s value. If you continue paying for your car insurance without making any claims, you can enjoy a No Claim Discount (NCD) that progressively reduces your car insurance premium year on year, starting from 20% and stopping once it reaches 55%.

You Need Not Depend On Public Transportation Anymore

One of the best reasons to buy a new car is that you will no longer be required to comply with the travel times of public transportations such as buses, trains and taxis. This makes an even bigger difference if you were previously required to take multiple modes of transportation in order to reach your desired destinations such as your workplace. Following the current world situation with COVID-19, having your own vehicle works even more in your favour.

You Will Have A Personalised Travelling Experience

Another reason to buy a new car is so that you can travel on your own terms. Commuting to work, driving to get groceries and going for a weekend getaway becomes a lot more personalised and comfortable when you have your own car. You can depart whenever you feel like it and dictate the time needed to reach your destination. Your passengers, be it your family or friends, will also feel a lot more comfortable knowing that you are in the driver’s seat.

After learning about the different things you need to do, and how much your life will change for the better after buying a new car, you are more than ready to make this decision. The next time you hear someone asking “Should I buy a car?” you will have all the right answers for them.

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