A RM 70K car...

We were on our way back from malacca when we started about this car conversation. wat car to change IF got money, of cos we were talking about cars less than 100K la..

Let's ASSUMED that i'm going to buy a RM 70K car, paid 10% downpayment (if i sell my current car i think the most i can get is just enuf for the 10% down payment.. ya at MOST.. how sad...) and let's assumed again that the car loan interest is around 3% and i'm going to loan it for 7 years..so one month how much i need to pay?

RM 70000 - RM 7000 = RM 63000 (minus 10% down payment)
RM 63000 * 3% = RM 1890 (interest per year)
RM 1890 * 7 = RM 13230 (interest for 7 years)

RM 63000 + RM 13230 = RM 76230 (total amt need to be paid)
RM 76230 / 84 = RM 907.5 (divided by 84 months, which is 7 years)

WOW.. 70K car doesn't seems very expensive hor..but after calculate.. WOW!!! RM900+ leh... imagined those ppl that drives car above 100K, how much they need to pay per month?? totally not an amount that i can afford for now..