RM10,000 a month may not be enough to own a Porsche 911 GT3.
With a price that can reach around RM2.29 million, the cost of owning this car is not just the purchase price.
Insurance, road tax, maintenance, tires, petrol and financing costs also need to be taken into account.
Price of the Porsche 911 GT3
A price of around RM2.29 million may be enough to make many people shocked. But that does not include the cost of maintaining and using the car.
Some of the additional costs that need to be taken into account:
Insurance: RM25,000–RM30,000 per year
Road tax: around RM6,600 per year
Service: RM8,000–RM10,000 per year
Tyres: RM10,000–RM15,000
Petrol: around RM7,000 per year
Overall, the additional costs can reach tens of thousands of ringgit per year.
So, how much money do you need?
If the car costs around RM2.29 million and the additional costs for the first year are also included, the amount needed can exceed RM2.3 million.
If you want to collect RM2.29 million in cash over a period of 5 years:
RM38,167 per month
RM1,255 per day
RM17,615 every two weeks
Final target: RM2.29 million
If given a period of 10 years:
RM19,083 per month
RM627 per day
Final target is still RM2.29 million
A longer period does reduce the amount that needs to be saved each month, but the total amount that needs to be collected is still large.
“But can you take out a loan, right?”
That's right. You don't necessarily have to pay in cash. However, financing means you still need to take into account the deposit, monthly installments, interest, insurance, service and usage costs.
In conclusion, owning a Porsche 911 GT3 is not just a matter of 'can you afford to buy it or not', but whether you can afford to pay, maintain and bear the costs in the long term.
Before chasing a car worth millions of ringgit, make sure your finances are strong enough not only to buy it, but also to continue to own it.
