The Proton X70 Executive is priced at RM126,800. To afford this car, you need to consider the costs of the loan, insurance, road tax, maintenance, and other yearly expenses. The loan is calculated at a 3.5% interest rate.
Here’s a breakdown of the potential monthly and yearly expenses:
Loan Options:
9 years: Monthly payment of RM1,390 (yearly RM16,680)
5 years: Monthly payment of RM1,952 (yearly RM23,424)
Additional Yearly Costs:
Road Tax: RM90
Insurance: RM1,609.34 (after 55% NCD)
Maintenance: RM1,934
Estimated Monthly Expenses:
9 years loan: RM1,822/month
5 years loan: RM2,384/month
What Salary Do You Need?
To comfortably afford the Proton X70 Executive, financial experts recommend spending no more than 20-40% of your monthly income on car expenses. Based on this guideline:
9 years loan:
20% of income: RM9,110/month
30% of income: RM6,073/month
40% of income: RM4,555/month
5 years loan:
20% of income: RM11,920/month
30% of income: RM7,947/month
40% of income: RM5,960/month
In Summary:
Your salary should range from RM4,555 to RM11,920 per month, depending on the loan duration and percentage of income you’re willing to allocate to the car.
