New car vs used car in Malaysia

I am expat (forienger).

I don't have local IC.

What do U recommend to buy new car or used car.

If I buy new car with bank loan? Is it easy to sell in future.?

What are the process for selling car which is in loan?

Attiva takes 5months for new car. Till then which car to use for local transport? Any options?



What is Attiva?

Before a car, do you have a license?

Personally I think its better to buy a used car to save money because new cars lose a lot of value but some people prefer new to have a warranty.

When selling a car under a loan, you use the buyers money (or yours) to pay off the bank before the transfer. This is often a huge problem because the value of the car and (therefore the selling price) is much less than the loan balance. From where would you get the difference to give to the bank? If you have the money saved in the bank already, then no problem. Most people do not. They owe 80,000 to the bank and the buyer gives you 60,000 for the car. Buyers and sellers play a variety of games to try to escape the bank. Why did this happen? Because the original buyer didnt put enough down payment when they bought and the car depreciated faster than they were paying down the loan each month.

That said, most dealers of used cars will finance a used purchase themselves to earn interest so its not always necessary to pay cash for a car. That said, this is why I prefer used from a financial standpoint. I wait until a car is 5-7 years old, the heaviest depreciation has already occurred, and I pay cash and have no loan.

For transport until a car, you can use the busses or trains or rent a car. Car rent is about RM150/day as an average and Im not currently sure how insurance and repairs are handled. Many people rent out their personal cars to try to get money to pay their bank loans! See or facebook marketplace for those. The name brands like Hertz are expensive.