In a cautionary tale, a private sector employee recently shared his financial woes after purchasing a brand-new Honda Civic priced at over RM100,000. His initial intention was to impress friends, but reality hit hard. Despite earning a monthly salary of RM4,000, Mohamad found himself drowning in debt due to the car’s hefty price tag.
Man spending RM100,000 on a new Honda car
Living in Kuala Lumpur, where costs are high, Mohamad realized that his salary couldn’t keep up with the car’s retail value. Beyond the car payments, he faced additional expenses like insurance, road tax, rent, parking fees, and food. To make ends meet, he even resorted to using a credit card for debt payments.
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