Tuesday, April 01, 2008

流浪@April Fools' Day (Part 2)

Continuing from my post this morning, and update on the status of my unexpected fortune sitting in the bank.

I went to the bank to find out what is going on with the Customer Service personnel. She confirmed my money, saying that I was chosen as a random recipient of RM50000 rewards for new account owners! And more amazingly, I'm not the only one! There's 20 of us, making the total reward money RM1million!!!

Well, it was about time some good fortune bestowed me, so why not this? Even though it came on April Fools' Day. Worried that this is an elaborate prank played on us, I swiftly proceeded to use 30k of it to clear off my Kojadi study loan that I took for my summer semester programme in UK last year.

There's still 20k left. What am I supposed to do with it? Put it in FD and wait for 3.7% interest? No thanks, not now. I took half day leave and head to the nearest Perodua showroom and test drive this car.

RM45912.60 for the 1.3 Automatic variant. I managed to get 5.5k for my 11yr old Kancil, to add up to the 20k, making it 25.5k downpayment. That leaves a loan of RM20412.60, 3.88% spread over 5 years. That makes the monthly instalment of RM406.22.

Let's give you guys and idea of before and after.

BEFORE : I'm paying RM450 monthly instalment to Kojadi for my 8%-annual-interest-8-years loan, and am driving an 11yr old Kancil, having to fork out RM100+ for servicing every 2mths (that's how long it take to reach 5000km for me).

AFTER : No more Kojadi loan, now I'm paying RM406 for a brand new Myvi, and which will be settled in 5 years with a significantly lower interest rate. 100000km, which is 20 x 5000km, that is 40 months of free servicing.

Not bad at all... Really... Can't really believe it... Oh ya, The car is due in 2 weeks time...


mars said...

wah...got new car..somemore monthly installement so low....i also plan get a cheap car..new proton saga...

RealGunners said...

i heard from my cousin, he bought the new saga, got the car recently, when heavy rain, water will get into the car... seems like same problem with savvy..