Owning a car is often seen as a milestone in adulthood—a symbol of independence and success.
Yet, for many, the dream of car ownership can quickly turn into a financial nightmare when the hidden costs are overlooked.
From hefty monthly instalments to unexpected maintenance expenses, the burden of car ownership often catches people off guard, leaving them struggling to stay afloat.
M’sian Woman Earning RM4.5K Says Buying Honda City Was Her ‘Biggest Mistake’
This is exactly what happened to a 29-year-old woman whose story went viral on X (formerly Twitter).
Her heartfelt confession, shared by user @ammarFRS, sheds light on the financial challenges of making a major purchase without fully understanding its long-term implications.
“The Biggest Mistake I Ever Made”
The woman, who earns a gross salary of RM4,500, opened up about how her decision to buy a Honda City became a significant financial burden.
“I made a huge mistake before—buying a Honda City,” she admitted in her post.
Initially, the purchase seemed manageable, but the reality quickly set in. She revealed that despite trying to recover financially, her savings have been dwindling month by month.
What made matters worse was her inability to save anything at all due to the hidden costs of car ownership.
The regret was evident in her plea for advice. “My financial situation is terrible. Please, give me some advice,” she wrote.
Unseen Costs That Add Up
Her story resonated with many, sparking a larger conversation about the true cost of owning a car.
@ammarFRS, who specialises in financial guidance, stepped in to provide clarity on why her situation spiralled out of control.
He explained that many car buyers, like this woman, focus solely on the monthly loan installment without accounting for the additional overhead costs.
These expenses, though seemingly minor at first, can add up quickly and overwhelm a budget.
Some of the hidden costs he highlighted included:
- Fuel expenses
- Road tax and insurance premiums
- Parking fees
- Routine maintenance and servicing
- Emergency repairs
Connecting the Dots: How Costs Snowball
It’s not hard to see how these expenses can snowball into a financial disaster.
For the woman in question, each additional cost chipped away at her financial stability, leaving her struggling to make ends meet. Her confession shows how important it is to consider the bigger picture when making such purchases.
A Smarter Approach to Car Buying
To help others avoid falling into the same trap, @ammarFRS shared a simple yet effective guideline: only purchase a car priced at or below your total gross salary for 12 months.
This ensures that your cash flow remains stable and that you’re financially prepared for both expected and unexpected costs.
