Summary – Some people change new cars every 5 years, how did they do it?

Today I went to the bank with a friend of mine. He is one of the main supplier for the mill and I know him way back when I’m still in Johor.

He is driving a new Hilux (very expensive and new). I remembered only few years back he was driving another branded new car (I’m not sure what the car was but it is definitely quite new)

When I asked him, he said it is his practice to change a new car every 5 years and this will be practised until he died.

According to him, he had fixed a monthly payment of RM800 just for his car. When the car is 5 years of age, he will trade that in when it is still high in value for a newer car. However the monthly payment shouldn’t be more than RM800. Meaning, he will pay RM800 every month for the rest of his life.

According to him, this is better than maintaining an old car because –

  • He will be able to drive any car he wanted
  • People will see him as a successful businessman
  • Almost no maintenance cost
  • The money forked out for maintenance for old cars usually just as much as buying new car
  • He does not have to worry a bit about maintenance of the car and its reliability. It’s brand new..
  • Some cars come with free bonus such as free roadtax and maintenance for couple of years.
  • Almost everyone suffer from debt through out their life, why not enjoy from it.

These are his reasons, I am totally in disagree with him of course. But the idea is really there and it is quite interesting.

One thing for sure he is a non-muslim. We muslim, were raised to try to avoid or settle all debt at all cost. If for example, we die with some debt unsettled, the debt will be a burden for us in the afterlife.

I am actually not very sure how other religion view debt unsettled, is it accepted?

For us muslim, what do you think of the idea? Agree / Disagree? :)

————— Personal Note ————————–
When will I finish paying all my debt. Sometimes, it feels like it is a never ending juggling. One debt settle, another waiting. After I’m done with my car, I’m hoping to straight away use that allocation of money to buy a house.

Are debt really becoming part of our life already? How do you guys manage your debt?

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This post has 17 comments.


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  1. Noushy Syah
    14 Aug 07 8:08 pm

    He got some point there..but he will never really ‘own car’ coz with debt forever!! Not everyone suffer from debt through out life, anyway.

    Proper maintenance of car at certain duration is important for the life span and I doubt it would take as much money as buying new car!! Get real!! {depends on the age of car)

    But if comes to the point that money forked out for maintenance is more and more, than I guess it’s the time to get a new one then…

    p/s My father gave me a sport car ******on my 18th birthday 4yrs back and so far I hardly remember ever had a major problem of mantenance…

  2. GoD's~sLaVe
    14 Aug 07 9:28 pm

    waa..bestnye main tukar2 kete..dulu time kecik2..ade ustaz kat seklah agama cite..dia kata..klu kite x byr utang org nnt kite kene cari org yg kite utang tu kat pdg mahsyar..pastu time form 3 kene blaja wat tajhiz jenazah..pastu sebelum jenazah dikebumikan,imam akan ckp..”jika simati ada berhutang dengan sesiapa..si pemiutang bolehla menuntut pada waris”..pastu statla 3 langkah pertama yg disertai dgn Al-fatihah..

  3. Banji
    15 Aug 07 12:46 am

    noushy – wow! a sport car! snap some pic pls

    anyway like u said, he will never own a car. at least ur father can give u the car as a present bcoz it is his. my friend cannot… in the end hes just like renting cars all his life and still owing money

  4. Banji
    15 Aug 07 12:51 am

    god’s slave – betapa penting nya pembayaran hutang tu dlm islam. kalau kita utang dgn bank, berapa puluh ribu org yg akan tuntut nanti. solat ni dah la asyik miss, amal yg ada tu nak kena bg org pulak, mintak2 le selesai suma utang ni

  5. filantera
    15 Aug 07 1:12 am

    yupsie

    kereta ustazah sebelah umah kita, i think dah more than 15 years dah, still okay lagi, last two weeks i drive it to SP, so great the feeling of old and cozy driving

    the first automatic transmission proton car

  6. nurazzah8
    15 Aug 07 2:16 am

    banji,
    masa akak dan husband mula kerja selepas balik dari belajar, kami takde kereta lagi dan tak mampu pun nak beli masa tu, my husband beli motor kapcai jek utk pergi kerja. Akak naik bas. bila start mengajar di Shah Alam, naik bas lagi, ulang-alik dari Ampang ke Shah Alam. Bila dah 3-4 bulan pregnant, dah tak larat nak berebut naik bas..so, akak pindah ke Shah Alam. Still tak beli kereta lagik. Tumpang kereta kawan yg sama kerja. Lepas setahun dua, baru cukup down payment dan beli our first car, Toyoto Corolla SE Limited Edition. That was in 1991. Waktu tu cuma RM44,000 jek..masa tu rasa bangga sangat sbb dpt beli kereta tu..hehehe…ialah zaman tu rata-rata orang pakai Proton Saga jek..dalam masa 5 tahun akak habis bayar installment. Dan sampai sekarang kereta tu masih dipakai lagi…tak perlu byr hutang tiap2 bulan, cuma maintain jek..tapi kalau jaga elok2 maintenance takde lah teruk…bukan tiap2 bulan pun maintain..sesekali jek…
    dolu-dolu akak selalu bawak pergi kerja, tapi sekarang tak lagi, sbb cik abang dah belikan akak kereta lain, dan dia dah upgrade engine kereta tu kpd twinCam, pastu ekzos yg bunyi mcm sport car tuh…MALUlah akak nak bawak masuk kampus ni… sekali tekan minyak..bunyi …BROOMMM…nanti semua students akak tengok…”saper lah yg bawak kereta tu” …tengok-tengok…laaa…lecturer rupanya..pompuan pulak tuh…hehehe… serik-serik… so sekarang yg bawak anak bujang akak lah… bangganya dia tekan minyak tuh kuat2 hehehe…ialah orang muda….

  7. azuwachan
    15 Aug 07 3:19 am

    heheh… it’s been apart of everyone’s life nowadays to have D.E.B.T.
    even we students already have like thousands of loans to pay back and it’ll probably takes like 10-20 years to finish.
    and I remember my lecturer from Iraq said that there in his country no money needed to study; from primary school up till Ph.D, not one cent need to be paid to the government.
    Well, that’s because they produce millions of tans of oil everyday, so it’s understandable.
    but we here already stuck up with debts. blom lagi nak bayar cukai nnt lps keje, huhu~

  8. Banji
    15 Aug 07 4:01 am

    filantera – ye x ye, living proof tu, kalau pandai jaga mmg tahan lama,

    kdg2 kita lupa, beli keta utk apa sebenarnya. kalau mmg nak show off baik beli keta api kan? huhu

  9. Banji
    15 Aug 07 4:18 am

    nurazzah – cerita pengalaman lah yg paling baik utk kita sama2 ambil pengajaran. so keep them coming ya.

    one thing about budaya beli keta dulu2, ada downpayment 10pc baru bleh start pikir keta apa nak beli, so kita mmg confident dah berkemampuan bila beli. skrg downpayment dah le 0,ada free gift lak tu, mmg akan terperangkap nye semua fresh grad 7 9 tahun. termasuklah diri ni huhu

  10. Banji
    15 Aug 07 4:25 am

    azuwachan – hm ye la, belum apa2 dah berhutang. certain utang mmg xleh dielakkan. sket sebanyak tu satu motivasi utk kita excel.

    utang yg boleh dielakkan tu yg perlu dielakkan, atau hanya ambil bila mampu

  11. rad
    15 Aug 07 8:06 am

    banji,
    Salam. First time commenting here. Sorry lah tak sempat berkenalan di DI. Semua org pemalu rupanya! Hahaha..
    BTW,
    One of my bro. memang sekepala dgn ur fren yg dok tukar kereta every 5yr tu. Same arguments to the dots. Typical Malaymen mentality – I thot. Pastu pantang nampak kereta kita yang bare sikit – sibuk2 suruh tukar sport rim lah, itu lah ini lah. Lepas tu takde duit cari siapa? Hm..
    Mcm mana pulak ura2 utk gomen sekat umur kereta on the road until 15yr only?

  12. intankamaruddin
    15 Aug 07 1:04 pm

    I dont think there’s any harm with it.

    Kalau bayar dah dekat nak abes dah, suddenly terfikir nak tukar keta pulak, kena bayar lagi.. Baik tukar awal2 kan?

    Hehe. I belum own a car yg I pay with my own money yet. But somehow I think I’m not the type of ppl who sticks wit same old car for the rest of life.

  13. Banji
    15 Aug 07 1:44 pm

    rad – ehehe agaknya malu2 jugak. saya ni lak baru nak berjinak dunia blogging ni, tak kenal lagi siapa blogger siapa tetamu :p (alasan)

    apa pun… terima kasih kak rad sudi jenguk kesini. kite start kenal2 ye.

    ur bro salah seorang yg berfikiran gitu ke? hm kalau org bukan islam, mmg plan takmo bayar utang tu sampai mati. selagi kite mmg aim nak bayar sepatutnya tak salah kut.

    tp mmg irritating kan, org mengajar keta kite nak kena buat tu nak kena buat ni. kalau in term of maintenance takpe la, ni nak hiaskan pun nak masuk campur. :)

  14. Banji
    15 Aug 07 2:10 pm

    intan – selalunya mmg semua org akan tukar kereta at one point. cuma diharap jgn le tukar kereta seumur hidup :)

    tapi betul la, harga kereta ni tak pernah naik. makin turun je.. kalau nak jual lagi baik jual time harga masih tinggi kan?

  15. intankamaruddin
    15 Aug 07 4:23 pm

    yeah dats wat i’m talking abt.
    bila finally dah dpt keta yg kita suka tu, boleh la keep paying sampai abes..
    bila kita jual, debt considered paid isnt it.

    i think its up to the individual. some wanna enjoy with cars, like others do wit phones etc, as long as they know the limit, why not.. tepuk dada tanya selera.
    but like other commentors wrote, jangan sampai nyusahkan org sudah.. hehe~

  16. Noushy Syah
    15 Aug 07 7:51 pm

    hehhehe..Banji, actually there is in my blog, kalau rajin selongkar…

  17. Banji
    16 Aug 07 2:13 am

    intan – keywords noted, utang bayar abis n jgn menyusahkan org :)

    noushy – really? will go n check, :) somehow im guessing its either red or yellow

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