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Randy Said:

Question about insurance coverage?

We Answered:

~~NO, personal belongings usually do fall under your home owners or renters insurance. Auto insurance generally just covers the auto. As far as where it happened does not matter. It's because your personal belongings are covered by homeowners or renters insurance.~~

Ralph Said:

Can a family man with Salary RM3,000 survive in Malaysia? What do you think of this?

We Answered:

No kidding. You are absolutely right!

For me our Purchasing Power has gone down tremendously since 70s& early 80s.

If our parents earned (70s & early80s) RM800 per month then, today it is equivalent to RM 8,000/= per month.

However, if you earned RM8,000 today, it is NOT really equal in Purchasing Power with our parent. Because their 'disposable income' (income after minus tax & EPF) was higher because their salary was within the lower "tax bracket".

1. Back then, brand new Toyota & Honda costs RM7K- RM8K, today RM85K. That's 10 times.

2. As a schoolboy I got pocket money for 20-30 sen per day. Today, my sister allocate her kids RM2-RM3 per day. That's also 10 times.

CONCLUSION : If one earned RM3,000/= today, that PURCHASING POWER is equivalent to a person who earned RM300/= per mth in the 70s or early 80s.

Who's fault?
1. Bank Negara (that unable to monitor our Ringgit as good as Spore- we used to have RM1.00 = SGD1.00)
Today USD1=SGD1.5 while USD1 = RM3.5

If ONLY the BNM used their common sense brains, they would NOT choose to peg against USD, instead, they should choose to peg Ringgit with SGD (per Spore dollar) at RM1.7 as in 1996, this is what had happened:

(i) The global forex speculators who dumped the Ringgit will die/lose money.
(ii) USD 1 willl be around RM2.6 (back as normal)
(iii) We buy crude oil at USD70, we only pay RM182/=; NOT USD70 x 3.5 = RM245. (26% cheaper)
(iv) Petrol become 26% cheaper than today.
(v) Transportation, imported necessity goods cheaper by 26%.

2. NAP (National Automotive Policy)- that ripped off our money by forcing us to pay low quality cars at outrageous prices)

In Saudi, the cars like new Honda Civic/ Accord and Toyota Camry are around RM40K & RM60K. WE are FOOLED by our SO-CALLED National Car. What a CRAP!!!!! It's a day light robbery to the nation for over 2 decades!!

Gabriel Said:

What's the most I can spend on a new car with my earnings?

We Answered:

You may or may not be able to afford it. At 18 I would rather have most of the 10,000 in the bank. Check out edmunds.com to see what the MSRP and what people are paying in your zip code. A new car at 30,000 for the most part is not marked up 3-4,000 unlike what the gent here stated. You may want to think about picking up a 1 year old that was used by a rental company. Generally these are maintained rather well but have a knowledable person help you look at it.

Don't know your credit aituation, but at 18 it may be tough to get a special finance ratelike 0% without a co signor but have seen 18 year olds qualify before ( or maybe family will help?)

You normally give up any rebates if you qualify for lower financing ( it's an either or situation), but all good fiance managers will be happy to show you what it would cost with the finance or with the rate ( very often it comes out the same anyways)

Good Luck with buying your 1st new car!

Barbara Said:

Need help deciding what car to get..Good Military Cars?

We Answered:

This article below may answer some questions you may have. Good Luck!

Kent Said:

What are factors considered when leasing a car from a dealer's perspective?

We Answered:

I am not gonna say that I am totally sure about the answer.it is really depending on the personal mind.thus it would better for you to try to find the best answer yourself.Here   www.Autoinsurancepro.info   is a good resource for reference though.