VW Golf GTI. How much Income would you need to own one? | EvoMalaysia.com

Hey guys, welcome to this new series where I help my community of viewers to plan their finances for their next car. In this episode, I'l be talking about the notorious Golf GTI, specifically the mk7. It's a great daily with some fun potential, and it looks just nice. Especially with the tartan seats.
Hope you find this useful and if you did please help me hit the like button and share it. And also subscribe to my channel. Cheers!
Follow me on Instagram: / thomasyapofficial
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[@andysim5237]

Ayee this video is FIRE, it definitely helps someone like me who's currently still studying to learn more about budgeting. Hope to see more similar content like this from you. Thanks Thomas!! 🔥🔥

[@ThomasYap]

Thanks for your feedback! More to come!

[@yoochangshen9527]

I see the title already noe this is gonna be a great series 👍🏻👍🏻👍🏻 pls make more Thomas !!!!

[@ThomasYap]

MORE INCOMING!

[@VijayMohanVisvanathan-kx2mj]

Good info bro really helpful . Waiting for more ….

[@derrickjeshurun]

Great video Thomas!! Keep doing this great content.😊👍🏼

[@ThomasYap]

Thanks!

[@lennonwong811]

Love your videos! Keep it up Thomas

[@ThomasYap]

Thanks!

[@maksrassi]

Great series Thomas, thumbs up!

[@ThomasYap]

Glad you enjoy it!

[@poovaneswaransupramaniam19]

Cool video Thomas...please keep the great content coming along

[@ThomasYap]

Thanks! Will do!

[@poovaneswaransupramaniam19]

@@ThomasYap once awhile give your other cars some airtime too, or else they feel dejected

[@ngeamtw89]

Great vid! Much appreciated

[@ThomasYap]

Thanks!

[@patrickeichin7251]

Very good series ! 👍🏻👏🏻✌🏻

[@ThomasYap]

Thank you! 👍

[@23Stefan283]

Very inspiring 💯 thank u..🔥

[@xTwiSTeDMiNDx]

Great video, currently owned a Polo GTI, so trying to "bela" it first to see if I'm able and comfortable with conti car, the end goal would be a golf gti and a mk7.5 if possible, this really give a rough idea on how I could achieve it, thanks thomas...

[@winet868]

Great video and practical.

[@ThomasYap]

Thanks! Glad you found it useful!

[@mohdrizalabubakar9084]

Awesome video Thomas! While i wish to own a GTI or an Golf R and my income does allow it, but i prefer to save up some money for other things too (such as travelling) so i ended up buying a Golf tsi MK7.5 instead hahah

[@Cxs1a3]

🐒

[@NyzemTv]

Great series to kick off Thomas! Perhaps you could break the video up into chapters on the video timeline for ease of reference too. Just my 2 cents.

[@ThomasYap]

That's a good idea!

[@NgiamTeeEe]

Great series man. How about 3 series, C class and E class?

[@WeiZe1022]

very informative content.

[@ThomasYap]

Glad you liked it

[@limpei94]

NICE CONTENT !

[@ThomasYap]

Thanks!

[@kayden2822]

Nice video!

[@ThomasYap]

Thanks!

[@ansonleong824]

Gti is my dream car. This is a great video 👏🏻 but wondering why would you mention gti instead of other cars ? I was so surprised

[@HUI933]

Another easier way of calculation will be, you buy the car worth same as your annual income 😂 Example earning RM13,500 permonth means 162,000 a year which is quite close to what your golf gti's value

[@chrish2396]

gross would be ~228k 🤔

[@eugp4198]

I have been using this applying this rule for 20 years, not exceeding my annual income

[@ThomasYap]

NIce. That's another way to look at it.

[@HangoutSpaceZ]

hi Thomas... a guy been following you for sometimes... tq for your sharing and inspiration. Ya possible to help me calculate a G29 Z4? it's been on of my going to get dream car due to drop top and a grandtourer.. would love to use this car join you guys on your 62k journey

[@hanif_zack]

I agree 100%

[@tengthiamwan4166]

Good information 👍

[@ThomasYap]

Cheers!

[@xanzfx2502]

Awesome video man!, Wanted to ask if I'm getting the car second hand from a private seller for about 40% less than dealership prices , does it cut the "income I have to make down" , cause where i live they cost around $15,000 USD in with 90k+ KM

[@ThomasYap]

Yep you can do the same formula for USD too. And why not second hand cars if you don’t mind. :)

[@xanzfx2502]

@@ThomasYap you’re a legend for sure, Blessings to you man 🙏🏼

[@hmprobob]

More of this series please 👍🏻

[@ThomasYap]

More to come!

[@NgiamTeeEe]

I would like to know the Porsche 718 Boxter

[@darrenfoo8269]

iherng of Malaysian automotive industry

[@ThomasYap]

Wah... you'e too kind.

[@KonWaiLuen]

Great initiative with this video bro! How much does one need to earn to afford a BMW M5 ah? Asking for a friend

[@Cxs1a3]

just spend oll, y0l0 like bubi ung

[@owen1379]

Bro how about a carrera 4s 2015

[@ThomasYap]

Will Take note of this for future topics.

[@mustakimkamaruzaman9715]

If you stayed kampung the cost of a month salary is below than RM9000 or RM13000 to owned MK8 2.0 gti..

[@kierkier2368]

So you are saying that I should be only riding a bicycle to work?

[@ThomasYap]

The word bicycle wasn't used in this video.

[@jordanwong5474]

300k per annua

[@waynewong8339]

So his car budjet should be maximum rm1050 per month.

[@Joseph5571]

30% Rm1050 including repair, wear & tear means the car range instalment is probably only Rm800. This calculation also excluding petrol, parking and tolls. lol

[@ThomasYap]

OR... he can be creative to increase his income. Dreams can't turn to reality if not taken into action. :)

[@killmyindianbrother]

Lets not forget about housing/rental peeps, say you drive a golf, takkan just stay in car? Another 30% goes to house, then 9000 only left with 3600. Cukup makan or not? Of course the car loan will only last 5-9 years la, then you’re only left with maintenance. Food for thought.

[@ThomasYap]

Yep. Definitely a good point. That's why I stay within the 20% and 30% is really pushing it. At 20% you'd still have money to put away for investments. Taking in mind that MOST cars are depreciating assets, this is the cost to have fun and enjoying life as a car guy. For a non-car guy, they should definetely spend less.

[@killmyindianbrother]

@@ThomasYap You’re right, each to their own. Whilst 30% still fits the 50/30/20 rule, just tighter on the “want” category. 20% gives more room for other wants like watches etc haha. I suppose by the time one has the ability to save up the down payment, they already know what they’re doing.

[@justinlzt]

Related question to this series: if an individual were to consider buying a car in cash, in your opinion what’s the ideal amount to have before making the decision to purchase said car? ie 1.5x or 2x the price of the car after maintenance cost factored (situation being the car is over 10 years old or they don’t wish to take Bobby’s personal loan trick😂)

[@ThomasYap]

I don't have a direct recommendation. And I wouldn't recommend 1.5x or 2x of car value = annual income rule. And I don't think the best way to buy a car cash is through "Saving Up" too. Especially when the car is say... above 100k. Because while I save up, my money is doing nothing in the bank. Get creative and be open to different ways to generate wealth. One is to learn to increase your wealth rapidly through a skill that generate scalable income. i.e. stock/crypto trading, network marketing. then park 20-30% of your income aside for the car... OR, if you are even more creative, find ways to take the savings to generate the car's amount. i.e 100k, makes 80k, take the earning of 80k to buy the car and top up the rest. Try to preserve the capital you save up. It does entail you being more creative, work harder and more importantly smarter. The best part of this direction is that you acquire the skill to do this again and again. This is rather long, but it'd be how I'd do it and my two cents. many ways out there. :) But if you're cash loaded, can go straight away and do it. haha.

[@balipeng]

Just buy and drive, regret later or go stronger

[@ThomasYap]

Hahaha.Some people do that. And it works for them

[@justinejiew36]

Thomas, I would like to see your numbers too 😝…

[@ThomasYap]

What number? My IC Number? lol

[@eugp4198]

Recommend the RM9k and RM13.5k suggested to be net income (bring home income) after deducting EPF and Income tax. My rule that I have been applying for the last 20 years is "Car Price < Annual Salary (net income)" .. My installment is 10% of my net salary.

[@ThomasYap]

Yep it's net income. Good idea and thanks for sharing it.

[@hoomee7605]

Have a rich dad...

[@sentuhankecundang7351]

that solves everything..doesnt it??

[@ThomasYap]

Not really. Not in my experience of knowing many rich families. But there's also an intrinsic value of being able to generate this... If you work hard and smart to achieve it. You gain the confidence and skills to generate a bigger life. That one is worth more than money brother. :)

[@Highlander226]

Buy second hand myvi for peace of mind.

[@ThomasYap]

Sure if peace of mind is what you are looking for.

[@boscokhoo2463]

go work in Singapore.. with my current monthly salary I could have owned an RS6 in Malaysia, but I'm stuck with a 1.5L A3 here 🥲

[@jasonw98]

Buy also cannot use, locked behind the customs

[@boscokhoo2463]

@@sh1mpul I mean what forces the hundreds of thousands of Malaysians to cross SG borders daily to work? Even plants know where to lean to get the most of the sunlight ;)