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Want to buy a 2022 Proton Persona? Here’s the minimum salary required

Eric · Aug 19, 2021 12:00 PM

Want to buy a 2022 Proton Persona? Here’s the minimum salary required 01

Proton has launched its second facelift for the Proton Persona. Prices for the facelifted Proton Persona starts at RM 45,200 and tops out at RM 54,900. These include SST discounts that are valid till 31-December 2021.

Want to buy a 2022 Proton Persona? Here’s the minimum salary required 02

Question is, what’s the minimum salary you need before you can apply for a loan?

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How much do I need to make?

Want to buy a 2022 Proton Persona? Here’s the minimum salary required 01

For the purpose of this article, we will take the top-spec Persona Premium CVT as a reference.

This variant is priced at RM 54,900. The monthly repayment for this variant is roughly RM 590 a month, after factoring in a 3.2-percent interest rate with a 9-year loan.

Want to buy a 2022 Proton Persona? Here’s the minimum salary required 02

Based on the recommended guideline that you should not be paying more than 20% of your monthly salary on the car's monthly repayment, that's a minimum net salary of around RM 2,900 a month.

Also Read: Priced from RM 45k, CVT-only 2022 Proton Persona facelift (MC2) launched, MT dropped

With the cost of insurance, maintenance, tyres, and other associated running costs factored in, your car-related expenses should not exceed 30 percent of your monthly salary.

Also Read: Old vs New: Here are the changes in the new 2022 Proton Persona facelift (MC2)

Want to buy a 2022 Proton Persona? Here’s the minimum salary required 03

Below are the monthly installments for the new 2022 Proton Persona for 5-, 7-, and 9-year tenures. These rates have already factored in an interest rate of 3.2%.

5-year monthly installment
Variant Price (RM) Monthly payment (RM)
1.6 Standard CVT 45,200 790
1.6 Executive CVT 50,100 870
1.6 Premium CVT 54,900 960

 

7-year monthly installment
Variant Price (RM) Monthly payment (RM)
1.6 Standard CVT 45,200 600
1.6 Executive CVT 50,100 660
1.6 Premium CVT 54,900 720

 

9-year monthly installment
Variant Price (RM) Monthly payment (RM)
1.6 Standard CVT 45,200 490
1.6 Executive CVT 50,100 540
1.6 Premium CVT 54,900 590

The shorter 5-year loan tenure is a wiser choice. That being said, interest rates are always changing. Given our current situation, interest rates are very low but do check with your respective banks for the latest rates.

Also Read: If you need a 9-year loan, you can’t afford the car, and do understand Rule of 78

 

Eric

Editor

Started from the IT industry but somehow managed to find his way into the automotive industry. If he’s not gaming, he’s constantly tinkering with his daily/weekend car.

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