So you’ve resolved to get a car. Congratulations! Regardless of whether it’s your first or whether you’re upgrading to your second, third, or even fourth vehicle, the first consideration is always price.
There is an almost overwhelming amount of choice when it comes to car models and variants to catch your fancy, but before you delve deeper into that, it’s important to relate the kind of car you’re intending to purchase with the budget you’ve set aside.
Depending on where you may land on the income scale, the options for cars will naturally expand or contract. However, you’ll still be spoilt for choice, especially in the used market where prices are lower and there are great deals to be had!
How Much Should You Spend On A Car?
Very few of us have the luxury of ample cash in hand to drive away with a car fully paid off from day one, so a hire purchase loan from a bank is the reality for the large majority of Malaysians.
As a general rule, common wisdom suggests that you shouldn’t spend more than 20% of your monthly salary on your car repayments. It’s also not advisable to extend the loan duration to the maximum 9 years if you can help it. Given the total amount you’ll be paying at the end of that tenure in interest, it’s better to keep it between 5 and 7 years.
This isn’t a hard and fast rule, of course, as everyone’s situation and priorities are different. With that in mind, here are some of our picks for cars based on your income group. Feel free to make use of the loan calculator tool on CARSOME to figure this out in more detail.
Also, for the purposes of this little guide, we’re also going to assume a deposit of not more than 10% of the car’s advertised selling price.
Entry Level: RM1,500k to RM3,000
Perodua Axia
Look no further than the first-generation Axia as your ideal first car. Cheap to run, affordable, compact but deceptively spacious, with a peppy 1.0-litre 3-cylinder engine to keep you entertained. We found some great examples for under RM30,000 so your repayments should be under RM400 a month.
Perodua Myvi
The King of Malaysian roads needs no introduction as it has been the default do-it-all car for so many of us for so many years. While you can spend more on a pre-owned example of the current 3rd-generation Myvi, the older and arguably more iconic 2nd-generation version still presents fantastic value and contemporary features.
It’s got space enough for a small family, a reliable powertrain, and a proven track record of smooth motoring to hundreds of thousands of satisfied Perodua owners. Clean examples are fetching just under RM40,000 on the used market, so your monthly repayments should be around the RM500 mark.
Mid Tier: RM3,000 to RM5,000
Toyota Vios
Whether you're commuting to work or embarking on a road trip, the second-generation Toyota Vios is a practical and reliable choice. Known for its fuel efficiency, comfort, and reliability, the Vios has become a popular choice for budget-conscious drivers, but its Toyota quality and tight tolerances make themselves evident the more time you spend with the car.
As Toyota sold them with rather high specifications, most examples on the used market today are well equipped in terms of safety and tech features for their day while some even come with a snazzy aerokit as standard. We found a tidy 2017 unit for just under RM60,000, meaning a monthly repayment of RM810.
Honda City
Alternatively, the 6th-gen Honda City is an unmissable proposition. It’s even more spacious and practical than some C-segment sedans despite being dimensionally more compact while its i-VTEC engine is arguably even more efficient with petrol when mated to an efficiency-oriented CVT gearbox.
The City also sold in larger numbers than the Vios over the same period, meaning you’re more likely to find a wider selection of cars on the used market to pick and choose from. Like the Toyota, it’s also pretty well-equipped. We found a range-topping City 1.5 V for just under RM70,000 translating to a monthly repayment of RM932.
Upper Tier: RM5,000 to RM8,000
Mazda CX-5
The CX-5 is a pivotal model for Mazda and one of its most popular to date with its combination of looks and luxury. One of the standout features of the CX-5 is its handling and driving dynamics. It is known for its precise steering and agile handling, making it a joy to drive both on the highway and in the city.
Overall, the Mazda CX-5 is a well-rounded SUV that offers a balance of performance, efficiency, high specification, and style. It is a great choice for drivers who want a vehicle that is both fun to drive and practical for everyday use. A 2018 unit we spotted was just under RM120,000, making its monthly repayment around RM1,580.
Mercedes-Benz A-Class
This one might be pushing it a little but we found a 2014 Mercedes-Benz A 250 Sport for about the same price (under RM120k) as the Mazda, so why not? Expect to pay around RM1,550 a month.
This generation of A-Class kicked off the model’s rebirth as a stylish and desirable sporty hatchback under the German brand. And in this guise offers a punchy 211hp from its turbocharged 2.0-litre engine for decent everyday thrills in addition to a pretty comprehensive equipment list.
And let’s face it, the A-Class does have the most important feature of all: that big three-pointed star up front that lets everyone know you’re driving in a Mercedes-Benz. You’ve arrived.
The CARSOME Advantage
If you thought the cars we’ve gathered here represented great value, the wonderful thing is they all also happen to be available from CARSOME, which ensures that every car is thoroughly inspected, refurbished, and quality assured through their CARSOME Certified program, giving you even more for your money.
Just pick a car you like from their huge selection and you’ll be safe in knowing that it has been put through the wringer to make sure that it’ll give you the best used car ownership experience. Best of all, CARSOME will take all the headache and hassle out of your hands by handling all the paperwork and processing whether it’s buying, selling, or trading in.
Download the CARSOME app or visit their website to start browsing for your next car today!
Keyword: Gaji Cukup Mampu? Here’s some great used cars for your budget