Considering Buying A Car? Here’s What Cars You Can Get For 50-60k!

If you have a budget of RM 50,000 to RM 60,000, would you rather spend on a new car or used car?

Based on our research on caricarz.com, here are some of the cars that meet that price range!

Starting off with new cars, there are cars such as the 2020 Proton Exora, 2020 Nissan Almera, 2020 Perodua Alza, 2020 Proton Persona, 2021 Perodua Myvi, 2021 Proton Persona, 2021 Perodua Bezza and also the 2021 Proton Iriz. 

If you don't mind your car being two to three years old, these are some cars that you may consider. As it is still under warranty (provided it was serviced and maintained in the service centre) and the warranty period is no longer 5 years, or what was offered when you purchased from the showroom, it still has two to three years warranty on it. 

Some of the models you can get within the range of 2018 to 2019 are the 2018 Honda Jazz, 2018 Renault Captur, 2018 Hyundai Ioniq Hybrid BlueDrive HEV, 2018 Perodua Myvi, and the 2019 Isuzu D-Max. As for this range, the mileage goes from 5,000km to 85,000km. When these cars were launched, they ranged from RM55,300 to RM100,328. 

Following that is the range of 2015 to 2016 which includes cars such as the 2016 Mitsubishi ASX, 2015 Nissan Teana, 2016 Subaru XV, 2016 Nissan Grand Livina and also the 2016 Proton Perdana. As for this range, the mileange ranges from 40,000km to 90,000km. When these cars were launched, they ranged from RM73,000 to RM175,000.

As for the range of 2012 to 2014, it includes the 2012 Audi Q5 TFSI Quattro, 2012 Mazda CX-5 SKYACTIV-G, 2013 Subaru XV, 2013 Hyundai Grand Starex Royale GLS Premium, and also the  2014 Toyota Corolla Altis. The mileage of these cars range from 55,000km to 105,000km. When these cars were launched, their price ranged from RM73,000 to RM328,000. 

Some of the pros when buying a new car is the low interest rate for loan and its warranty. In addition to that, all new cars will come with new technologies and new parts, therefore, very minor repairs in the first few years, as long as regular service intervals are met.

However, cons of purchasing a new car may include depreciation in value, as a new car takes its biggest depreciation within the first couple of years. Some might say that you are basically throwing away several thousand dollars you may not get back. 

As for used cars, among the pros include lower prices as pre owned vehicles come with lower average prices where you have a better chance of paying for your purchase in cash or even making a larger down payment. Among other things, you might also receive a higher-spec model that you could afford as well.

Next to that is a smaller loan amount where depending on the loan terms, you could receive lower monthly payments, as well as a smaller total interest change. Not only that, by purchasing used cars, you will also receive quicker payoff. As used-car loans are usually shorter than new cars, this allows borrowers to pay off their vehicles sooner. 

Other than that, there is lower depreciation where you may be able to sell your car for close to the same price you paid for it within the following few years. Topping it would be purchase based on reports where you will be able to review the Consumer Reports of a certain brand or brands and select a model that has been performing well. 

Some of the cons of buying a used car include reliability where the older the car, the more likely you have to spend a good amount of money on repairs, particularly if the automaker’s warranty no longer covers the vehicle. Following this, the driving behaviour of previous owners play a big role here as well. In this case, we suggest finding a mechanic that you can trust, as the cost of repairs may vary. 

Not forgetting that used cars lead to higher interest rates. This is due to manufacturer incentives on new vehicles but also due to the higher risk involved in used-car financing. Used-cars are also less predictable which may cause issues for the lender to map out how much money it can recoup if it needs to retrieve and resell the vehicle.