The Omoda 5 H variant is priced at RM118,800, and to make this purchase, it’s important to consider the total cost of ownership. Beyond the car’s price, you’ll need to account for loan payments, insurance, road tax, maintenance, and other annual costs. Below is a detailed financial breakdown of these expenses.
Loan Options
With a 3.5% interest rate, here are the estimated loan payments for different terms:
- 9 years: Monthly payment of RM1,356 (yearly RM16,272)
- 5 years: Monthly payment of RM2,181.97 (yearly RM26,183.64)
Additional Yearly Costs
- Road tax: RM90
- Insurance: RM1,515 (after 55% NCD), or RM3,368 if 100%
- Maintenance and wear & tear: RM2,007
These expenses total an estimated RM5,465 per year.
Estimated Monthly Expenses
Adding up these costs, the estimated monthly expenses for each loan option are:
- 9 years loan: RM1,811.42/month
- 5 years loan: RM2,652.33/month
What Salary Do You Need?
Experts recommend keeping car expenses within 20-40% of your monthly income. Based on this advice, here’s the estimated monthly income required for each loan option:
9 Years Loan
- 20% of income: RM9,055/month
- 30% of income: RM6,036.67/month
- 40% of income: RM4,527.50/month
5 Years Loan
- 20% of income: RM13,260/month
- 30% of income: RM8,840/month
- 40% of income: RM6,630/month
Conclusion
To comfortably afford the Omoda 5 H variant, your monthly salary should ideally range between RM4,527.50 and RM13,260, depending on the loan duration and the portion of income allocated to car expenses.
