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Sunday, November 16, 2008

Housing loan vs Car loan

"krengggg!" phone rang. i answered. it was a lady.

lady: faisal, can i know how much i entitle for the housing loan?

me: you wanna wait or i call you back when i get the amount?

lady: i can wait *giggle*

me: ok, you entitle for 96k.

lady: omg! why so little? is it because the salary or the position?

me: salary and position. both counts.

lady: ok. you know what?

me: yes?

lady: have you ever realized that we could pay off the car loan which is roughly the same amount of the housing loan but why we wanna drag the housing loan to a longer period rather than pay off the loan exactly like car loan -- which will only takes about 9 years max and 7 years is common?

me: if we are talking about investment, hold for few years and we sell. then its another case. we could buy 2 or 3 houses with that amount of money in let say 5 years and we could sell them. so why are we in hurry?

lady: but if its the house we live?

me: then, i think you got the point *smile* but if you are into business, you can do something else with the money rather paying off your housing loan lump sum. you know you won't get rebate like car loan if you pay quick right?

lady: oh yeah. i've forgotten about that *laugh* thanks for the info and have a nice day.

me: you too madam.

if you have no intention on getting yourself a business then you better pay off your debt quick. after all, you will have a better life without debt around you. trust me, you won't have a headache about money anymore.

again, to be rich is not about how much you earn (yes even though this is the best way for you to get rich fast if you know how to handle) but how much you save.

if you are doing business, never break a promise. once you break it, there is no way you are going to be success.

i talked to a friend few days ago about capitalist and socialist. what caught my attention was what he said about capitalist "there are differences between capitalist and stingy". we ended with a big laugh. indeed.

Great spirits have always encountered violent opposition from mediocre minds.
- Albert Einstein -


  1. waahh~ sgt tension.. loan skrg sgt lmbt ar nk lulus!!!

  2. dill - personal loan ke? kalau personal loan memang susah nak lulus tapi kalau loan rumah senang saja :) sekarang ni hutang yang ditanggung negara disebabkan credit card dan personal loan dah terlampau banyak. bukan sekadar di malaysia malahan di luar negara :)

  3. hmm..belambak2 orang yang tau pakai credit card tapi tak tau nak bayar..haih..hutang hutang hutang..

  4. huu~~
    simpan sket2 lama2 jadi bukit..
    tapi org cam teja nie susah nak menyimpan..kui3..
    ada apa2 nasihat?

  5. hoodedlicious - ya betol. kalau nak pakai kredit kad kena bijak berbelanja dan ada disiplin. kalau tak mesti bertambah-tambah hutang dan sampai mati asyik bayar hutang saja.

    tun teja - senang je teja. kalau nak beli apa² buat 1 list. stick to the list. jangan beli benda yang takde dalam list. mula² memang parah, lama² akan biasa :) semoga berjaya!

  6. thanks 4 da advice..
    Insyaallah..try la..~~parah2..

  7. teja - boleh punya :) orang tua² cakap nak seribu daya taknak seribu alasan? hehe. kalau nak info labih lanjut try cari buku azizi ali di popular bookstore atau mana² kedai buku yang berdekatan.

  8. alhamdullillah dh kensel kredit kad. susah oo!! asyik nk swipe je.

  9. ish...toing..kena sebijik kat muka..haha..

  10. there have advantages and disadvantages between capitalist and socialist. Both important to country...kalau socialist sangat..jahanam lah negara

  11. kamal - kalau swipe then next week terus bayar should be ok. problemnya apabila swipe next week tak dapat bayar tunggu hujung bulan bila dapat gaji.

    teja - hehe ala saling kongsi info je :)

    zuer - kinda agree with you. at the moment i guess i'm a capitalist :P

  12. im so...stingy 4 my future....

  13. zuer - stingy for your future? hmm any future plan? guess we have to be stingy sometimes in order to get what we want, don't you think? most people forget about their rainy days right? :)

  14. loan studi pn x tau nk byr cm nk sambung lg...adeh..

    pssttt, xde ke yg leh tlg byr sparuh..? tolak duit hntaran...haha...adeh...

  15. Anonymous12:45 AM

    loan .
    loan .
    loan .
    loan-ly = lonely ?

  16. Loans suck...well actually it's the interest that sucks. LOL Have a great day buddy! :o)

  17. Loan rumah senang nak lulus eh? Utk lady tu berapa gaji n position dia utk rm96k tu?

  18. Buat masa ni tak pikir lagi nak loan2. PTPTN pun belum langsai. hehe.

  19. ohya faisal, jawapan kepada soalan pelik. memang saya makan jeruk.

    me n hubby are self employed, all throughout the year we work 7days a week. Ni nak cuti 10 hari ni pun susah2 nak dapat. hehe.

  20. To be rich is not only about how much you save but also how much return you get from your saving and the magnitude of your saving.

    If a person earns RM10,000 and save only 10% and return of 10% p.a., i.e. she still saves RM1,000 every month and a return of RM1,200 every year. If a person earns RM2,000 but saves 20% and a return of 8% p.a., i.e. he saves RM400 every month and get a return of RM384 every month.

  21. I meant every year second saver gets RM384, not every month. Sorry for error.

  22. i've so many debts to pay each month.... houses, car...eerrr... thats all! Me have NO credit card for the last 5 years... believe it or not... i'm comfortable with my Debit card... and some small cash :D

  23. Bro...batter take both lorrrr....divide into two then u can have a car and a easy huh????

    Plan to have my own house in Kuantan by nxt year lah...this, everything gone....hehehehe....

  24. loan akak dah lulus..tapi lambat benor nak start potong..

    kalau ikut malas benor nak buat loan ni..tapi kalau tak wat, takde rumah lak..cit!!

  25. Wah I dunno about business thingy >.<


  26. ixora - haha rugi la kalau suruh tolak duit hantaran. bayar slow-slow tunggu lepas kawin baru pujuk husband bayarkan :P

    - loan = lonely? bila duit loan dah habis kot :P

    tammy - haha banks will go bankrupt if they don't charge you interest. you have a great day too tammy :)

    cahaya - gaji below 2k position typist. yep loan rumah lagi senang nak lulus dari personal loan. personal loan 90% darinya liability dan hanya 10% darinya asset. rumah confirm asset (even tak sewakan pun harga naik dan boleh dijual bila-bila masa).

    mango - soalan pelik? haha thinking of sending you some jeruk if you like. self employed? very good :) 7 days a week for your own good is no harm at all. i'd rather work hard for me than for people's company. don't you think?

    joseph - let say you start working at age 25 and get return 12.5% p.a from your saving, what you need to do in order to get RM1 million at age 55 is to save RM256 a month. Not really hard right? RM256 is 26% of your income RM1000. If your start with RM2000 a month, its 13%.

    but that is for retirement.

    let make it more interesting. let say you wanna be a millionaire at the age of 45. ok let say you start working at 25. but with 10% interest p.a let us see how much we need to save every month.

    the total is RM1317. i know its a bit too much for someone who earns RM2000 a month. but remember we haven't included epf yet. epf is about RM460 a month (the calculation is about 23% of your salary). this mean what you need to do in order to get RM1 million is add RM857 more. in 20 years, you'll be a millionaire :)

    but remember the salary will increase by the time you reach at that age. it won't stuck at RM2000 forever.

    let say your salary now is RM10000 a month, and RM3000 save for your goal. you will be millionaire in just 13 years.

    and if you save about RM12000 a month (why not if you ear RM25000 a month) it only takes about 5 years :)

    even your little kid haven't gone to school you are already a millionaire daddy :)

    rush murad - we're a like. i hate credit card and if i can't afford paying by cash that mean i can't afford to buy it. pretty simple right? hehe. what about car (no more loan next year, house and house? haha my friend's case :P

    wan hidayat - if you don't have a house yet i'd suggest you to buy house first then car. if you are interested in real estate try jb, kl and penang :) you won't be regret! remember car is liability :)

    - akak loan rumah tak rugi :) rumah aset dan kereta liability. so why beli benda mahal yang turun harga sedangkan kita hanya perlukan ia untuk bergerak dari destinasi A ke B? baik beli benda yang tak jatuh harga dan selalu naik je... kan? :) beli rumah 5 biji nanti silap-silap income tax pula yang kena bayar balik dekat akak. akak tahu kan pasal 4d dan 4a? ala yang pasal beli rumah melebihi 5 biji dikira biz? :)

    ann - then visit my blog often hehe :)

  27. Anonymous7:57 PM

    haha .
    entahlah .
    its not like i understand what loan is .
    okay , maybe i know its a pinjaman bla bla .
    but when it gets to the interest and so on , im blank . (>.<)

  28. berrykisses - haha slowly. but right now you need to focus on your studies :)

  29. Anonymous9:14 PM

    yes .
    you are right ! :D

  30. berrykisses - so since exam just finish, what are you doing now?

  31. far loan2 abg approve dengan segera. Biasanya org bank yg dtg sign agreement kat opis abg. kekeke

  32. cyberwira - bagus tu bang :) kalau dah kaya memang orang akan kejar kita kan? :)

  33. That's great advice! For me, car loan must be paid up within 3 years, otherwise I believe I cannot afford that car! No point stretching to 7 years, by which time the car's value already gone down so low it's almost worthless!

  34. foongpc - yes kinda agree with you. but 3 years really a big hit which would damage your life don't you think? haha.

  35. Anonymous12:26 AM

    what am i doing ?
    erm , nothing interesting .
    but i feel like baking , making puddings or trifle etc .
    the thing is who is going to eat the food ? :|

  36. berrykisses - family members? i wish i'm closer so that i can eat them all! ;)

  37. Anonymous11:58 AM

    family members ?
    my brother tak makan sangat semua-semua tu .
    tak kan nak harapkan my parents and youngest sis je , memang diorang akan bloated la nanti . ;DD

    haha .
    im thinking about giving the food to my neighbours . ;)

  38. Berrykisses - That is a good thing to do :) Your neighbour will be so delightful :)

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