Buying an Exora

I was calculating the years while I was overseas that I could save the depreciation cost of owning a vehicle. During those years, company provided me with company cars and therefore the saving of each year of RM10K in depreciation would be a hefty saving sum of RM50K in my bank account. For any vehicle, if you take a calculation based on the resale value of a used car, RM5K-10K per year of value depreciation is common. That is to say, a RM100K car after 5 years could only be sold for RM50K-75K.

When I lived overseas, the vehicles in Malaysia appear to me just ridiculously expensive. We cannot compare that with the US, even comparing the same model in China, we are about 25% more expensive. Well, that extra portion goes to the coffer of the Malaysian government. I always thankful to what we have in Malaysia, especially for our children who could get free education all the way except tertiary education. Whenver I pay for a Malaysian vehicle, I always rationalize it in such a way that with the high price of the vehicle I am paying back to the government of Malaysia for all the free education given to my children. Of course I did pay for my income tax except when working overseas I am entitled to the double taxation exemption.

My wife and children like the Exora very much. As a professional in Malaysia, I would say I belong to the medium income group and comparing to so many people in Malaysia, the argument is that I should be able to afford a RM75K MPV without much consideration(It is just a peer to peer comparison). I had told myself that I wanted to clear all my liabilities before I retire so that I could take up something else debt free, I want to do something to impact the life of others and serve the community. I am a careful and conservative person and always think about the future of my family and the education of my son and daughter, and that is all I could do for them as a father. Buying a brand new vehicle with a monthly instalment of more than RM1K is really a burden that will interrupt my early retirement plan and also caused me some sleepless nights!

If I so decide to purchase this Exora, the main reason is because I feel sorry for my wife and children that I had left them in Malaysia on their own while I was away from home for so many years. The Exora is, no doubt about it, a beautiful made in Malaysia MPV and safer vehicle to drive with a RM75K price tag.