It is a common notion that Malaysians are forced to rely on their cars. However, whenever their 9 year loan is up, they’d replace their car with a new one, and the cycle repeats. This may be a problem to most people as there are times they’re buying cars they can’t afford.
Why Malaysians Are Constantly Indebted
Some users say that it is a typical mindset in this country where everything we own is literally on loan. From your degree, your car, your house and even your iPhone. Unfortunately for some, these may end up as a good investment, but if it’s a liability, it will hurt the individual even more.
Others are complaining about the loan interest amount in this country. It is ironic that our fixed deposit rates are lower, yet at the same time, the loan rates are considered to be high for some.
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