Keeping Your Car Maintenance Cost Low
Most car buyers only consider the maintenance cost of a car when they are shopping for a used car. According to Asean NCAP survey released in September 2015, only 2% of Malaysian car buyers chose cost of maintenance and service as the main factor that influenced their car purchase.
When buying a car, used or new, consumers should recognise that hidden costs, like service and repair cost, make the decision-making process more than simply getting a competitive price or a low monthly payment. Comparing cars based on selling prices and monthly repayment for your hire-purchase loan are just part of the overall cost of the car.
However, making your car buying decision solely based on those two factors is a fallacy that can cost you a lot more in the future. One must always consider all factors that drive your cost of ownership up. In addition to price and payment, variables that impact the total cost of buying and owning a used car include:
- Insurance premium and road tax must be renewed every year. Road tax is calculated based on engine capacity so choose a lower engine capacity, but don’t compromise on power.
- Compare fuel consumption among all potential cars and choose one with the lower fuel consumption rate.
- Lastly, service and maintenance, which can come up to a significant amount if not managed.
This infographic shows you how you can choose a vehicle with a lower cost of maintenance.