Based on this Kuala Lumpur man’s firsthand experience, here’s how he saved RM50,000 by buying second-hand over a brand-new car:
For many Malaysians, especially young adults in bustling cities like Kuala Lumpur and Johor Bahru, buying a car feels like a milestone of adulthood—a sign that you’ve “made it.”
But with the cost of living climbing higher every year, the dream of owning a car often turns into a financial trap, especially when hidden costs sneak up on you.
I was nearly caught in that same trap. But here’s how choosing a reliable second hand car saved me RM50,000—and a whole lot of stress.
The Temptation of a Brand-New Car
Image via careta. My
It all started when I got my first promotion at work. I was ecstatic, and like many others, my first thought was, “Time for an upgrade!” I had been driving an old Proton for a few years and, with my new salary, I figured it was time to get something sleek, something new—maybe even a 2022 Proton Saga Premium AT.
The price seemed right: RM41,800 with a monthly repayment of RM480. “I can handle that,” I thought. It was only after I started crunching the numbers that reality hit hard. Sure, the price tag in the showroom seemed attractive, but I hadn’t considered the other costs that come with owning a car—especially a brand-new one.
There was petrol, maintenance, road tax, and insurance, which in addition to my car loan, together it all added up to around RM1,000 per month. That’s RM1,000 out of my paycheck every single month!
Suddenly, the new Proton wasn’t looking as shiny anymore. When I added everything up, I realized that buying a car could end up costing me 150% to 170% more than its sticker price. I started thinking, “Is this really worth it?”
The Hunt for a Secondhand Gem
Image via sgcarmart
Determined to find a smarter solution, I decided to explore the secondhand car market. I spent countless hours scrolling through online listings, and I have to admit, there were some pretty tempting deals. I was eyeing a Ford Fiesta, a Volkswagen Polo, and a Kia Picanto—all for prices between RM19,000 to RM28,000.
But as much as I liked the idea of driving a Volkswagen, I had to face facts: imported cars, even secondhand, come with high repair costs. The parts are expensive, and maintenance can sometimes be double or even triple that of a local car. I didn’t want to save money on the purchase only to pour it all into repairs down the line.
So, I shifted my focus to Malaysian brands, which are known for their affordability and reliability. That’s when Malaysia’s favorite car, the Perodua Myvi, popped back up on my radar.
The Myvi has a (well-deserved, in my opinion) reputation for being reliable, easy to maintain, and economical. In short, it was perfect for someone like me who just wanted a dependable car without the headaches.
After a bit more research, I had narrowed it down to two models: the Perodua Myvi and the Perodua Axia. The Axia was more compact and fuel-efficient, but I ultimately chose the 2015 Myvi X because it offered more comfort and a smoother driving experience.
How Much I Actually Saved
Image via in real life
Here’s where things got really interesting. By choosing the secondhand Myvi for RM25,000 instead of the brand-new Proton Saga, I didn’t just save RM25,000 off the bat.
When you factor in the interest from a car loan (which can be as high as 4-6%), I realized that with a new car, I’d be paying 25% to 50% more than the asking price, just in interest alone!
For my second hand Myvi, my loan repayments were only RM390 per month for five years. That meant the total cost of the car, including interest, came up to RM30,340. Now, compare that with the new Proton Saga—after 15 years of loan payments, I would’ve shelled out nearly RM75,000!
The savings didn’t stop there. Over nine years, the cost of petrol, maintenance, insurance, and road tax for my Myvi added up to about RM56,260 in total. Had I chosen the new Proton Saga, those costs could have easily doubled.
In the end, when I calculated the difference between both cares, I realised I’d save nearly RM50,000 by taking the 2nd hand car. The best part? I wasn’t tied down to a massive loan or constantly worrying about repairs.
My Myvi has been a reliable companion on my daily commute, and the money I saved? Well, I’ve used it to enjoy life a little more—taking trips, saving for a rainy day, and even investing in my future.
The Bottom Line
Buying a car is one of the biggest financial commitments you’ll make, and sometimes the smarter choice isn’t the newest one.
By going secondhand, I found a reliable car that fits my lifestyle without draining my wallet. If you’re thinking about buying a car, do the math, weigh your options, and don’t let the allure of a shiny new ride blind you to the real costs.
Sometimes, the road less traveled—or in this case, the road already traveled—is the better one.
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