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

[powerbook]

yeah, my current state of mind (as fresh as the newly brewed coffee in my cup), i will embark on an used-BMW trail. on my radar, i will aim for used E46 328i/330i or if luck comes around for an unbeaten M3, i will strongly consider.

fabianyee, i'm currently splitting my work days 10% in KL and in a foreign country but this will eventually change to 100% in KL by year end due to the fact i'm just married and would like to settle down in my home land.

 

[chairoger]

yeah, my current state of mind (as fresh as the newly brewed coffee in my cup), i will embark on an used-BMW trail. on my radar, i will aim for used E46 328i/330i or if luck comes around for an unbeaten M3, i will strongly consider.

fabianyee, i'm currently splitting my work days 10% in KL and in a foreign country but this will eventually change to 100% in KL by year end due to the fact i'm just married and would like to settle down in my home land.

Good planning dude!

 

[MRsamdol]

Guys we pay taxes and duties directly or indirectly for any car we buy... from used cars we indirectly pay taxes to the gov through the first owner, recond we pay import duties, new we pay directly... so there is no escape.

Agree with most guys here and fortunate that i don't have to buy proton or perodua or naza kia for that matter.

And to powerbook 328i/330i will be comfortable for you to pay, e46 m3 will stretch your budget e36 m3 will not but any of these will be a good choice.
...

 

[Jipster]

With the exception of my very first car, a proton saga magma 1.5 istimewa which was bought out of purely costs considerations, I've always followed my heart when it came to car purchases..... not always a good thing I must say. By following my heart rather than my head I have probably paid more than I should..... BUT one reasonable thing I've held on to is this - a car purchase is NOT OR NEVER AN INVESTMENT .... lets face it .... its a black hole which sucks everything into it LOL

 

[adliz]

a car purchase is NOT OR NEVER AN INVESTMENT .... lets face it ....

not entirely true if u buy a carrera GT or enzo.. re-sale value is higher than new price if u export.. hehe..

 

[Jipster]

not entirely true if u buy a carrera GT or enzo.. re-sale value is higher than new price if u export.. hehe..

True.... but speculating on supercars is a completely different story isnt it? It'll take more than 12k a month.....

 

[funfer_fahrer]

yeah, my current state of mind (as fresh as the newly brewed coffee in my cup), i will embark on an used-BMW trail. on my radar, i will aim for used E46 328i/330i or if luck comes around for an unbeaten M3, i will strongly consider.

fabianyee, i'm currently splitting my work days 10% in KL and in a foreign country but this will eventually change to 100% in KL by year end due to the fact i'm just married and would like to settle down in my home land.

Since you have abroad for quite sometime and know what the situation is compared to here, I am confident that you are going to make a wise decision. There's a saying that there are two things that you cannot escape - death and taxes. But, I don't see any reason why must you pay more? There is an alternative, and by purchasing a used or a recond unit you are actually getting a huge discount. A 50% depreciation may seem small for a country which has E60 selling for RM120K, but imagine here at around RM460K! After 4 to five years you will enjoy RM230K discount and that is almost equivalent to the price of my house that I am currently living. Yes, you probably going to miss the "new car smell" but is that such a big deal compared to the money you are going to lose in 5 years' time? The car you are going to purchase might not be 100% in pristine condition but I don't think you will need RM100K to make it look like new. True, you are going to see 25% pay rise in a short while. Have you ever consider the amount of tax that is going to imposed on you because of that pay rise? After deducting EPF you probably end up with 10% to 15% pay rise NETT. Once again, is that a lot money? I don't think so. I've been there.

 

[fabianyee]

hehe.. right on bro..

with 12k, can get very decent car.. but if i were u, i'd set a portion aside for savings/investment first.. but that's just me..

Does that mean what u paid for the M3 is only a fraction of your income... ???

 

[adliz]

True.... but speculating on supercars is a completely different story isnt it? It'll take more than 12k a month.....

yeah man.. just kidding..

 

[adliz]

Does that mean what u paid for the M3 is only a fraction of your income... ???

hehe.. like what u've already noted, some people buy cars as company cars for the obvious reasons.. i did that..

also, traffic summons wud go to company, hence avoiding from getting my licence hung/revoked! hehe.. only downside is the 9+++k roadtax! end OT..

 

[omegaoracle]

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.

Back to your original question, my best advice is getting a nice pre-owned e46 (e90 is ugly, no offense to e90 owners, I just hate what Bangle did for the new 3) instead of a brand new one (believe me, been thru it), either 328 or 330. Since you've mentioned that you've just got married (congrats!), you'll have to consider you better half as well, and family planning.

Don't blow it all on initial purchase of the car and the monthly commitment man, since you're looking to cosmetic mods as well. Rest of your disposable income, save and invest. hell, buy us a round of TT...

 

[5series]

If I may say, RM12k nett pay is not that much in today's world (niether is a small amount). However, an average Senior Manager in KL is earning that figure or could be even higher.

Since you have just got married, my suggestion to you is to take a "careful" steps in planning your expenses. I personally have been thru' your stage & this is my advise.

For any investment that can appreciate in value, you can buy it thru HP. However, any investment that could eventually depreciate in value (like cars), try to buy it in CASH.

Just do a simple calculation, a house that cost RM200k now, may cost RM2mil in next 20-30 years. Whereas, RM200k car may not be existence by then???

Other reasons to buy the car in CASH.
1) No need to pay bank interest (that could come up to be a huge in amount if you take a BIG loan)
2) Can go for 3rd party insurance (only around RM100 insteaf of thousands)
3) No worries about monthly installment (no need to visit bank every month)
4) No further commitment after your purchase (can cash out your money anytime if needed be...)
5) Better bargaining power when you purchase the car (at least an instant discount from 10-20%)

Just take a short calculation & you will know what I mean.

So, if I will you, I will go for e39. That's a great car (as far as I m concern!) and yet is not burning any hole in your pocket. You can own an e39 from range of RM90k - RM130k, up to your choice & you are still look "handsomely" with that car.

Moreover, no need to worry about "car theft" and "kidnap". What says you??

 

[dumeort]

wah .... use cash buy UDM cars. Can you hear the sound of doorbell ? Incometax people are HERE.

 

[skar19]

go for the e46 M3....you dont need to mod anything....its fast...it looks good...you can take your family....

i think it will fall under the 5k per month budget

 

[KL2DC]

another vote for the e90 325i

I actually resent all those e90 remarks , the more you see it, the more you understand the design language. Like all BMW's evolution-revolution design cycle, the new design takes some getting used to. Remember when the e36 was first introduced how all e30 owners/fan lamented the new design, well pretty much the same case here. *Ring* 1999 called, he wants his e46 back

Gonna get so flamed for that...but seriously a car is never/rarely makes financial sense. We pour so much money, time and love into it but it never netts an ROI worth talking about. But we get something untangible and immeasurable back...that is the very reason why we hang out at this forum and celebrate our cars. Is there a forum for condos where owners sit around and talk about their new doors or lights etc.? I didn't think so...

There is a certain joy and satisfaction we get by driving our UDMs. Look, bottom line is, if you can wing it always buy the most/coolest car you can honestly afford, and you will be alright. Don't live life with regrets....

edit: here's a pic I took last week...just a coupla UDMs hanging out. e46 330i ZHP, E60 530i ZSP, E46 M3 Cab and e90 325i (yours truly's). Hope the pics put things in perspective. Wish you luck in your car hunt.

 

[powerbook]

5series, thanks for those numbered reasons you highlighted, you are correct but unfortunately, like i mentioned before, i do not have a stash of cash parking in the bank. however, i will definitely looking for an unused BMW. my preference still the same since my last post, i.e. most recently used e46 328i/330i

KL2DC, you pointed out the current e90 design thingy which i do agree, by looking back to the non-acceptance of the 7 series' back bonnet few years ago, which is now well-received by many and even some minor league manufacturers are copying it.

so, keep your posts coming guys, it has been very informative to me.

 

[funfer_fahrer]

5series, thanks for those numbered reasons you highlighted, you are correct but unfortunately, like i mentioned before, i do not have a stash of cash parking in the bank. however, i will definitely looking for an unused BMW. my preference still the same since my last post, i.e. most recently used e46 328i/330i

KL2DC, you pointed out the current e90 design thingy which i do agree, by looking back to the non-acceptance of the 7 series' back bonnet few years ago, which is now well-received by many and even some minor league manufacturers are copying it.

so, keep your posts coming guys, it has been very informative to me.

I think that's a good idea. Just get the most recently used E46 that you like. Sometimes, having too much money in our hands can cloud our minds. We did not even realize that the price can be more expensive than the house we are currently staying. Personally, I like to think that the business community (businessman & captains of industries) will laugh at me if I purchase a brand new beemer. I don't want to make paying extra taxes my favourite past time. They got the tax exemption by doing so. But, what do I get? Personal satisfaction? The action is still not justified. We can't follow KL2DC's idea of buying a new E90. He's in a "Beemer Heaven" even though he's not dead yet. Beemers are dead cheap in the States. I begin to hate this guy already. He he..

 

[KL2DC]

funfer_fahrer: sure they're cheaper but its still a big hit...its relative. Monthly aside, I have to pay annual property tax (% of car's value) in my state plus insurance and gas ($3.20 per gallon). Then there are the neverending mods... LOL Plans of wheels and body kit and this and that are swimming in my head. So many ways to spend money, I can't even afford to pay attention LOL

But the main point again is that the OP is young and flush...and pretty much got the itch...so like most of us enthusiast in this forum, just buy the most car you can afford then everything will be cool. I used to be the guy who groans a little everytime I saw a little hot number I could've afforded drive by, but with my e90...I pretty much took it as far as I could at the time and never looked back. Best automotive decision I have made, but not the smartest decision overall.

There's a message somewhere in that rambling LOL

 

[safri]

Powerbook, with that amount of salary, you have abundance of choice. you could even consider an e60 or CKD e90 325. Assuming a 10% downpayment say for the Thai-made 520 e60 which costs RM298K, you will end up paying a monthly instalment of RM3,800 per month, which represents slightly above 30% of your net monthly salary - not that bad. but is that what you want?. are you willing to pay that much money?. only you know the answer. imo, you should go for new car - less hassle.

 

[funfer_fahrer]

Powerbook, with that amount of salary, you have abundance of choice. you could even consider an e60 or CKD e90 325. Assuming a 10% downpayment say for the Thai-made 520 e60 which costs RM298K, you will end up paying a monthly instalment of RM3,800 per month, which represents slightly above 30% of your net monthly salary - not that bad. but is that what you want?. are you willing to pay that much money?. only you know the answer. imo, you should go for new car - less hassle.

How about spending RM2300 for hire purchase and contribute RM1500 (total RM3800) to your parents if they are still around/while they are still around? Believe me, your life is going to change forever.