US Fresh Graduate buy Honda Civic with 5 months salary

Updated: August 22, 2018 / Home » Financial Plan » Car

I don’t think a fresh graduate need a Honda Civic. But, why we cannot afford a Honda Civic while other countries’ fresh graduate can get it easily?

An article wrote by Datuk Alan Tong in The Star saying that our cars are costing us our home.

“Circumstances have since changed. Today, for a fresh graduate to own a car in Malaysia, it will easily cost him four years of his salary to purchase a foreign car, and even a local car costs around two years of his salary.”

“If we take into consideration his living expenses and other commitments, it may take him even longer to settle his car loan.”~ Datuk Alan Tong

our cars are costing us our homes 2

Photo: Facebook

From the table, we know that a fresh graduate from Washington, US is earning about RM11,000 (about USD 3,500) every month or USD 41,000 can easily buy a Japanese Honda Civic worth USD 15,800 ( about RM50,000) as it is only about 5 months’ salary.

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However, a fresh graduate in Kuala Lumpur, Malaysia earning about RM2,500 every month needs to pay RM120,000 if he would like to buy the Honda City. It costs him four years gross yearly salary.

If consider his living expenses like food, petrol, rental and more, a fresh graduate surely cannot own a Honda Civic with a monthly income RM 2,500.

Again, I don’t think a fresh graduate need a Honda Civic. Honda Civic is just used as a comparison between the countries.

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