Car Buying Guide Malaysia: Financing, Insurance & Road Tax
Learn how to choose and finance your next vehicle in Malaysia, whether it's a new Perodua or a used import.
Navigating the Automotive Market
With brands like Perodua and Proton dominating the local market, Malaysians have many affordable options. However, the true cost of a car goes beyond the monthly installment. You must account for insurance premiums, road tax, and regular maintenance.
Hire Purchase Tips
- Interest Rates: New cars usually have lower rates (2.3% - 3.5%) compared to used cars (3.5% - 5.0%).
- Tenure: While 9 years is the max, a 5 or 7-year loan saves you thousands in interest.
- NCD: Transfer your No Claim Discount from your old car to save on insurance for the new one.
Road Tax in Malaysia
Road tax is calculated based on engine capacity (cc). For example, a 1.3L Perodua Myvi has a very affordable road tax, while a 2.5L SUV will be significantly more expensive. Always check the cc of the vehicle before committing to a purchase.
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