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Question
Sathindra
I am a freshly graduated engineer who still seeking a job. We have very old car (2 Sri) which was stayed in the garage for last 15 years or so. Due to financial problem in those days, we were not able afford its maintenance. Now it is in bad shape (break binding,dead battery and lots of tinkering).
At present our financial level is better having my sister is working and I completed my studies. So we are thinking about getting a new car. My self and my sister still don't know to drive and my father does. My sister is quite busy with her work and Masters. So for her going for a learners not a practical option. Therefore we thought to get our own vehicle to learn driving.
We are considering 3 options
1. Spend around 100k and repair the old car.
2. Buy old sedan around 1 mil ( Something like Proton WIRA, FB13 or CB8) with private leasing
3. Buy relatively new compact around 1.7 mil ( Something like Viva Elite) with bank leasing
We are not intend to keep whatever the car we are gonna get for more than a year. When I settled in a job, we intend to buy a brand new car( with me fathers permit, hoping government offer it back). So durability is not a important concern. Some depreciation is acceptable as well. Thought best option seems to be option 1, my mother is concerned with the appearance for social acceptance. I think 3rd option is risky as a someone just learning to drive, damages could become expensive to deal with. So I am leaning towards the 2nd option.
I am completely new to this area. Any advice would be welcome.
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