Buying A Car Is A Need Or A Want

 Dear Readers, 

Buying A Car To Satisfy Your Want Or To Fulfill Your Need?

Is Owning A Car A Want Or A Need For You? 

Is owning a car a need or a want? This is indeed a famous debatable question among the young graduates or new hires just like me when I first got employed back in 2013. As a new employee, I do have my own goals and dreams especially when it comes to having our very own properties like houses and cars.

Most of the time, people around us gauge our success through these tangible assets but this is the time that we need to be wise in financial planning and make sure that we are truly capable before ratifying any purchases. 

Motivation To Achieve The Dream And Goal In Life

Answering the question above which is very subjective as it is depending on the necessity of a person. Taking myself as an example, I started my career in 2013 and rented a house next to public transport which is just a stone's throw away. Hence, during that period, owning a car was not a necessary commitment for me as I can commute to work by taking the LRT to and forth from my office daily. 

Today, the answer to the same question is slightly different now as I moved to my own house which is slightly further from the public transport with limited accessibility. Therefore, owning a car will ease my movement and be more convenient, especially when I need to travel around. 

Make Sure Own A Car That Can Fulfill Your Need And It Will Not Become  An Additional Burden To Your Financial Freedom

When you are deciding on which car to purchase, what are the main factors that you should be considering the most? We have to bear in mind that getting a car seems to be a dream comes true but at the same time, we need to understand that we are going to dedicate ourselves to a big commitment albeit it is not as much as buying a house. 

The financial commitment that we need to take into consideration includes daily costs like fuel, parking and toll cost, the most important part is the monthly loan repayment and annual costs like road tax renewal, car insurance, and maintenance. We need to have an emergency fund for other miscellaneous costs as well. So, owning a car sound like another milestone unlocked but at the same time, we are responsible for a commitment for a maximum of 9 years. 

Car Maintenance & Services Can Be Costly As Well

Looking at all the costs involved, it is really important now for us to make wise decisions and ensure that we are financially affordable to own the car and not just fulfilling the dream blindly. Just to share that I recently found a very useful and powerful tool from the internet that helped me in my decision-making.

The tool is called Car Payment Calculator. I can easily calculate my monthly car loan payments based on the amount of the hire purchase that I going to make and the most useful section is the budget section where I can use it to calculate the maximum vehicle price that I can own based on a much-relaxed budgeting condition. 

Car Payment Calculator (Loan Tab) - To Calculate Monthly Loan Payment

Calculate The Maximum Vehicle Price That You Can Go For With The Affordable Monthly Payment

I am really grateful that I found this tool on time when I need something like this the most. All I need to do is input the current hire purchase information such as the vehicle price, bank interest rate, down payment and loan tenure. The essential details such as total interest cost and monthly payment required will be automatically populated with just one click. 

How convenient and cool, right? Another useful tab in the Car Payment Calculator webpage that I would like to recommend is the Operating Costs tab that I can use to roughly calculate how much owning a vehicle will cost me monthly.

While I was doing my necessary calculation to make my decision, I discovered that there are interesting online games available under the Car Arcade tab. There are more than 20 games available that are made suitable for both kids and adults. The one that attracted my attention the most is the Cars Lighting Speed, a racing game inspired by the Disney animated movie series. 

Car Arcade Online Games - Cars Lighting Speed

Since it is free of charge and the interface is up to date with a beautiful vibrant display, I took the opportunity to play a few other games that are available but trust me, you should try the Go Chicken Go too! Don't say me bo jio, okay? Try it with your family and friends to spend some leisure time together while using this useful car loan calculator. 

I found it really useful and hopefully this will be helpful for you too!.

Own Your Car Confidently Once You Gained A Better Insight About Your Car Loan Calculated Using The Car Payment Calculator

Signing Off For Now And Take Care Till We e-Meet Again On My Next Post!

For Collaboration Or Any Inquiries, Feel Free To Email Me At kitkatnelfei@gmail.com.