Which used car today makes economical sense to buy?

As the new car market in Malaysia starts moving upwards and stocks start depleting due to production issues and parts sourcing (chip shortages continue) it seems that the used car market is having its best time ever in Malaysia.

More so with online used car platforms that offer hassle-free purchasing and full disclosure of the condition of the used vehicle and most ‘hidden’ issues. (flood and accident damage warnings are the two biggest issues).

The used car market in Malaysia has been changing for the better in recent years and yet there is still more to change to bring some form of honesty and credibility to used car buying. This is why more Malaysians are willing to gamble today with a used car as new car stocks run low and many Malaysians are still feeling a tight economic pinch yet need a ‘new’ used car in their garage for office and leisure commuting.

Here below are some options for cars below 10 years of age and with a good possibility of a car loan and sensible loan interest rates.

We start with used cars under RM30,000

The Perodua Myvi remains the king in this price segment together with its younger siblings, the Axia and Alza. All three models hold the distinction as the least expensive 4-door car sold in Malaysia despite its bargain-basement class. Power windows, air conditioning, a decent sound system is provided and an automatic transmission as well. Basic yet very functional and reliable this is the choice of young single people as well as married retired Malaysians.

From RM30,000 to RM50,000

In this class the Nissan Almera, Toyota Vios, Mazda3 and how can we miss, the Honda City are the segment favourites. They all come with strong and easy to maintain engines and good basic safety features. Yes, you could also add in the Kia Forte and Hyundai Elantra as they have accessible aftersales and spare parts and their prices today are hard to ignore.

From RM50,000 to RM70,000

Here is probably where you might want to share this article with a friend or family as the choices are very interesting. We have all-wheel drive cars, Crossovers and SUV’s available and with European brands included.

To start, you will have 6 or more airbags as standard, an electric driver's seat, cruise control and an entertainment unit with smartphone connectivity. Leather seats are a common possibility and the carpeting will be of better quality. Door panels will probably be ‘soft-touch’ instead of hard plastic on many cars in this price range providing more of a quality feel. The centre console will have charging points and might even have a drive mode selector for a fuel-sipping drive or speedy driving fun.

In this price range, you can get a first-generation Honda HR-V or Subaru XV and if you need more space, there is the Kia Sportage, Hyundai Tucson and even a Honda CR-V which are all locally assembled with good parts availability.

Then for sedan lovers, you can choose between a petrol-powered Toyota Camry or its immediate rival, the Honda Accord. The Mazda6 2.5 which is fully imported and the Hyundai Sonata is also priced very close and let's not forget the Volkswagen Jetta and BMW X1.

For a more family orientated vehicle, the Toyota Sienta, Volkswagen Touran and Mazda5 can also be considered.

Not Looking At More Expensive Cars

There is a reason why we are capping our used car advice to RM70,000 as once you go beyond that, emotional and brand takes a much bigger role and buyers with more money sometimes decide with the heart and not with the ‘wallet’.

Today, some less exciting vehicles like the Mercedes B-Class and BMW 2 Series Touring can be purchased for under RM70k, but there is little interest. Then there is the BMW 5 Series, Volvo S80 and Mercedes E200 which will be expensive to maintain which is more of an emotional buy at below RM70k.

So, with the simple information provided above, you can start looking through the online classifieds easily to find what suits your image and budget. Just type in the search box, ‘used Honda City, Malaysia’ for example and look at all the possibilities available.