ARTIKEL MENARIK DARI MY SINCHEW – Berkesankah “2nd stimulus package” terhadap rakyat marhaen?
DIBAWAH ADALAH SATU ARTIKEL YANG BAIK UNTUK DIFAHAMI YANG SAYA PETIK DARI MY SINCHEW, http://www.mysinchew.com/node/22167 …..
ARTIKEL INI JUGA SESUAI UNTUK KITA FAHAMI SAMADA ‘2ND STIMULUS PACKAGE’ YANG DILANCARKAN OLEH MENTERI KEWANGAN KITA BARU-BARU INI, MAMPU UNTUK MENYELESAIKAN MASALAH RAKYAT ATAU SEBALIKNYA.
Hua was a wage-earner with monthly income of RM1000. He had to be very frugal in order to save RM3000 in two years to buy himself an over 10-year-old car.
Hua was really excited when he heard of the RM60 billion stimulus package as his old car’s price soared overnight to RM5000.
“Haha, finally, I can trade in my old car for a brand new one!”
However, his friend Chung, an used car trader, dampened his enthusiasm: “Just forget about it!”
Let’s see Chung’s reasoning —
Currently, the cheapest national-made car Viva (660cc, manual) costs RM28, 660. If Hua trades in his old car for a new one, by using the RM5000 rebate to pay for his down payment, he still has to apply for a RM23, 600 loan from a financial institution.
A nine-year loan with the annual interest of 3.88% will have to be paid in 108 instalments, which requires RM297 a month. Nine years later, with the original price of RM28, 600 and the interest plus the down payment, Hua has to pay RM37, 076 in total to own that car.
Financial institutions will not simply lend money to anyone. If Hua wants to successfully get the loan, his monthly salary must be at least triple the monthly instalments.
Hua can fulfil the most basic condition that requires minimum monthly income of RM891. But he is unable to fulfil another condition as some financial institutions come with a proviso that he must have borrowed money from the institution before with a perfect repayment record. Otherwise, he must get a guarantor.
Hua did some calculations. If he successfully gets his loan approved by the financial institution, after deducting RM110 for EPF, RM100 for petrol, RM120 for room rental, RM297 for car loan from his current monthly salary of RM1000, he would have to survive on the remaining RM373. He dared not to continue counting, as the sum is definitely not enough for other expenses.
Back to reality, Hua had no choice but to continue driving his old car. (By LIM MUN FAH/ Translated by SOONG PHUI JEE/ Sin Chew Daily)
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