Sunday....

A new year and a new car? Huh? What? A new car? Well, for some, a new year brings new resolutions. For some of us, some of the resolutions might consists the urge to buy a new car. To be frank, I have this urge or replacing my car to a better one. But, something deep inside me stopped me from doing so. Based on my financial standing as of now, I could afford to a better car than what I'm having now but unfortunately, a car is a depreciative asset. A depreciative asset means, the value drops even after 2 seconds it rolls out from the showroom. A RM80,000 car in 2005 is valued at RM60,000 at the end of 2008. That's Rm20,000 drop in value. Plus, you have the insurance you gotta pay and the quarterly service that you have to make which may costs you around RM250-RM1000 per service. Not easy having a car eh? Buying one is easy, but maintaining it is not. Believe me. First of all, there's the 10% deposit to be paid, that'll be about RM8,000 if the car's price is RM80,000. Obviously, you need to top up for the insurance, the v-cool and whatever other hidden costs that might be. And of course, the loan that you have to take and that will cost you probably around RM1200 per month. Imagine if you' re monthly income is about RM3,000. That's like almost 40% of your salary goes to service the loan. What about your other expenses? Think about it....So if you really wanna get yourself a car, think wisely and be practical. Get something that is economically viable. Well, that's for you to decide.

Anyway, I just came back from meeting my good friend 'ippo'. We had a good chat and of course, we talked about our project. I talked to him about my plan in selling the bike and he was a bit surprised. Plus, he even suggested that I can continue paying the bank rakyat's loan and put the whole RM46k or RM48k that I will be receiving in selling the bike in my ASB. Well, I'm still thinking but hope everything can be settle after my KB ride with the boys first. So we went to Cheras to view some properties and from the outside, it looks good. Might be a worthwhile investment. All in all, most of the properties we viewed are situated very close to a school, banks, food courts as well as LRT station and a commuter station. In other words, the location is good. Good is an understatement actually. The location of those properties are impressive. I'm impressed with the facilities the place offered so I might be thinking in getting a unit or two when the time comes. Let's just see how it goes in the next few weeks.

Tomorrow, it's gonna be quite a hectic day for me. Hope I can get my ASB book back and perhaps, if time permits, I'll go to PNB to make the certificate. Then I can pledge it to the bank and in turn, I hope I can get the overdraft facilities for me to start off my properties investment project. I may also need to make some calls to enquire with regards to some of the properties that I'm interested in. It seems to me, some interesting things are about to begin. It's just a matter of time and of course, there'll be some sacrifices to be made.

Till the next time...

Have a nice day....