Priced at RM94,800, the Proton S70 Flagship X is a cost-effective option for those interested in a reliable and practical vehicle. To make a smart financial decision, it’s essential to account for the total cost of ownership, which includes loan payments, insurance, road tax, maintenance, and other annual expenses. Here’s a comprehensive breakdown of these costs.
Loan Options
Assuming a 3.5% interest rate, the loan payment details for a 9-year term are as follows:
- Monthly payment: RM1,038.85
- Yearly payment: RM12,466.20
Additional Yearly Costs
- Road tax: RM90
- Insurance: RM2,744.30
- Maintenance and wear & tear: RM1,000
These expenses total an estimated RM3,834.30 per year.
Estimated Monthly Expenses
Adding the loan payments and yearly costs, the estimated monthly expenses for the Proton S70 Flagship X are:
- 9 years loan: RM1,358.38/month
What Salary Do You Need?
Financial advisors often recommend that car-related expenses should take up no more than 20-40% of monthly income. Based on this guideline, here’s the estimated monthly income required:
9 Years Loan
- 20% of income: RM6,791.88/month
- 30% of income: RM4,527.92/month
- 40% of income: RM3,395.94/month
Conclusion
To comfortably afford the Proton S70 Flagship X, your monthly salary should ideally range from RM3,395.94 to RM6,791.88, depending on the portion of income you’re comfortable allocating to car expenses.
