Netizens are discussing how a significant number of Malaysians have declared bankruptcy. Furthermore, they state that the leading cause for bankruptcy among Malaysians are their car loans. For the most part, most Malaysians need a car as we are a car-centric country after all.
Car loans regarded as leading cause for bankruptcy among Malaysians
Apparently over 36% of those who are legally bankrupt are due to them not being able to pay off their car loans. Furthermore, netizens are advising youngsters to not be too frivolous with their cars as they deteriorate in value once they are purchased.
Others state that if you’re only making RM2,000 a month, it is not a good idea to buy an expensive Honda. They state that it would be wise if you’re making that much to purchase a more affordable car like a Proton.
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