What can i get from a monthly salary of RM12K after tax?

[powerbook]

Hi. Newbie here. I would like to own a piece of the Sheer Driving Pleasure machine. I'm 30 and just married. Living on a self-owned property. What's your comment on which model best suited me (or to be precise, my salary scale)? Or 'shoot' me any questions for well-informed answers in return. Thanks.

 

[ICEMAN 68]

powerbook ...welcome to the club.firstly what do you have up in mind ? which model to you prefer the best ? A 3 or a 5 ?i think with that scale of salary i would likely look into a E60 525i. A machine that suits best of my image and if you're a business man what more can i say ..maybe you can elaborate more on your liking first before we can say much..you have a nice day

 

[nikazwaa]

Hi there. Welcome to the forum.

First question would be, which series strrikes your fancy? 1 Series? 3 Series? 5 Series? etc. etc.

 

[dumeort]

Powerbook, what is your commitment ?

 

[powerbook]

Thanks both for quick replies. I'm very much prefer 3 series. i know if i venture into 5 series, i might get only entry level model, such as 523i (6 cycl category), therefore, i'm much contend with 3 and i'm a salaryman, btw.
i like mild modification, such as rims (18inch or 19 if it fits), coils, exhaust upgrades and not into ECU tweaking thingy.

 

[powerbook]

dumeort, frankly, i do not have that much cash in hand for a hefty downpayment, but i'm willing to spend up to 5K per month for hp instalment.

 

[supergripen]

wow,5k out of 12k..that's a lot of dough to spend on cars man..

a 3 would be nice since u're only 30.the e90 is a very good car,go for it.

one advice,if u do change the exhaust,get the ECU remapped.if not,u'll be losing a lot of bottom end grunt for a marginal increase in top end shove.end of the day,u'll find that ur FC will be up.

 

[powerbook]

well, i'm just assuming up-to 5K, since i'm expecting a 25% salary increment soon, ceteris paribus.
i do not know the current car hp scenario in KL after having left KL 2 years ago and will transfer back to KL for good.
E90 is my option too but with low downpayment ability, i want to see what are my choices.

 

[dumeort]

If me lar .... I go for e60. maybe 2003 525i. Ask a damn good mechanic go there and check the whole entire machine. A bit time consuming la.

 

[OSFlanker]

See if your dough can stretch to a used E46 M3 (circa RM300k). With the direction used car prices are going, buying a new car will mean taking a big hit on depreciation. An M car will hold its value better than a non-M, like 330i.

 

[valkryie]

If you are willing to spend 5000 monthly then a new E90 CBU Auto Bavaria "pre registered" at RM 268K should not be a problem.

12x5,000 = 60,000 a year
60,000 x 6 years = 360,000

RM 360,000 - 268K = 92,000 and you can easily pay for your HP interest and the rims, exhaust, etc.

Only thing is that E90 backside is IMHO ugly but nevertheless should give you lots of driving happiness.

 

[funfer_fahrer]

If I were you, the price of the car that I am going to buy should not exceed my annual gross salary and you should try to work backwards from there. Figure out your monthly instalment from here. With your kind of salary try to look for the price between 150K-170K. You won't feel guilty paying and you won't feel like an idiot since I believe you are already at maximum bracket of paying income tax (29%). There's a lot of tax in a luxury car in Malaysia , you know. In other parts of the world, people are paying merely RM120K for a brand new E60. I can't afford to see you contribute MORE to the government by purchasing an expensive car. Whatever other disposable income left, consider invest elsewhere. A car is the WORST investment.

 

[YellowMellow]

If I were you, the price of the car that I am going to buy should not exceed my annual gross salary and you should try to work backwards from there. Figure out your monthly instalment from here. With your kind of salary try to look for the price between 150K-170K. You won't feel guilty paying and you won't feel like an idiot since I believe you are already at maximum bracket of paying income tax (29%). There's a lot of tax in a luxury car in Malaysia , you know. In other parts of the world, people are paying merely RM120K for a brand new E60. I can't afford to see you contribute MORE to the government by purchasing an expensive car. Whatever other disposable income left, consider invest elsewhere. A car is the WORST investment.

I like you la

 

[jarance]

Actually, with that kind of salary, you are most likely to be entitled to company car.

Why pay for it when the company can use this car as tax write off and profit offset.

 

[dumeort]

If I were you, the price of the car that I am going to buy should not exceed my annual gross salary and you should try to work backwards from there. Figure out your monthly instalment from here. With your kind of salary try to look for the price between 150K-170K. You won't feel guilty paying and you won't feel like an idiot since I believe you are already at maximum bracket of paying income tax (29%). There's a lot of tax in a luxury car in Malaysia , you know. In other parts of the world, people are paying merely RM120K for a brand new E60. I can't afford to see you contribute MORE to the government by purchasing an expensive car. Whatever other disposable income left, consider invest elsewhere. A car is the WORST investment.

*sigh*

I'm still young mah, now don't waste money on cars later cannot afford liao.
But i'm sure one day I will understand about your advise. Now not yet.

My head always stick to these:-
(sometimes, we have to be stupid to be smart)
(90% of people in this world are not smart, that's why there are sales)

 

[powerbook]

jarance, nowadays co. are smart, they pay what-you-call total package, maybe the co. do not want to 'show' it to other employees what certain employees are getting, to eliminate similar requests. for means of bus. tax reduction, i'm sure they have many other ways to do so.

funfer, what you mentioned is valid, thanks.

 

[funfer_fahrer]

*sigh*

I'm still young mah, now don't waste money on cars later cannot afford liao.
But i'm sure one day I will understand about your advise. Now not yet.

My head always stick to these:-
(sometimes, we have to be stupid to be smart)
(90% of people in this world are not smart, that's why there are sales)

So, you think a Proton car will cost RM500K by the time you are entitled to withdraw all your EPF savings? Let me tell you, there will be a huge riot before they can even think of doing that.

 

[dumeort]

Will proton survive until i turn 55 ? Got 30++ years to go.

 

[funfer_fahrer]

Will proton survive until i turn 55 ? Got 30++ years to go.

Sure they will survive by installing unnecessary accessories and therefore making the price higher and higher. After taking into account inflation rate, that is the price that we are looking at.

 

[supergripen]

seems fahrer is at one extreme and dumeort seems to be on the other..both have valid points.while it pays to be careful and thrifty with your income,life as they say is short and u only live once.so while keeping in mind not to spend too much on cars,u have to also treat urself to something that u like.

i'd take the middle ground..find a car that still inspires and one that stirs your soul while at the same time keeping to a pre-planned limit as to what u'll will spend on a car.

u don't want to end up with a Proton btw..