How to Buy a Car in Malaysia | Car Classifications, Costs, Financing and Procedures

This video will cover EVERYTHING that you need to know before you purchase any car in Malaysia, such as understanding the different car classifications, identifying the costs involved to owning and maintaining the car, selecting the right financing plan and getting the right sales agent to facilitate the entire car buying process!
⬇️Timestamps:
0:00 → Introduction
1:15 → Different car classifications
2:20 → Different costs of owning a vehicle
3:50 → CKD vs CBU
5:43 → Foreign vs local cars
8:32 → Financing plans and budgeting guide
11:22 → Car purchasing process
13:09 → Conclusion
🔴Contact Chee Yong Foo (Proton Sales Advisor, Setia Gemilang Auto)
→ H/P number: 012-6648812
→ E-mail: [e-mail]
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(25 Feb 2022) The Finance Ministry under Budget 2022 had extended the car sales tax incentive exemption period until June 30, 2022 to encourage car ownership, stimulate local economic growth and drive the development momentum of the automotive sector.
The car sales tax exemption remains the same as before, that is 100 per cent sales tax exemption on locally assembled passenger cars (CKD). Meanwhile, a sales tax exemption of 50 per cent is given to foreign assembled passenger vehicles (CBUs) including MPVs and SUVs, including new imported CBUs and used imported CBUs.
It is generally a lot cheaper and cost effective to purchase Malaysian-produced cars. Foreign vehicles come with a hefty excise tax between 75% - 105% which causes car prices to balloon up by double or triple the price compared to that in other countries. However, as Malaysian cars are generously subsidised by the government, brands such as Proton and Perodua can provide you your basic driving needs without swallowing up a small fortune.
Know what you can afford based on your income and set a realistic budget, a handy tool to have a rough idea about this would be car loan repayment calculators which are even available on some of the car brand and local bank websites. The cost of buying a car does not end with the price you see on paper, as there will be regular monthly and annual expenses including road tax, insurance, car servicing and maintenance, petrol and so on.
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Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.