Let's talk money: What’s the monthly loan repayment of the 2022 Honda Civic FE?

Now that you’ve made the acquaintance of the all-new 2022 Honda Civic FE, it is time to talk money. Priced from RM 125,634 to RM 144,350, what is the recommended minimum salary requirement to be able to comfortably own one?

Honda Malaysia offers three variants of the Civic FE, the base 1.5 E, 1.5 V to the 1.5 RS. At first glance, the prices are at least RM 10,000 more than the previous Civic FC generation.

The Civic FE also comes with only one engine option: a 1.5-litre turbocharged petrol engine that does 182 PS and 240 Nm. It is 9 PS and 20 Nm more than the outgoing generation and it is also the most powerful Civic in South East Asia.

Note that the prices used in this buying guide are prices released by Honda Malaysia and do not include any accessories such as the Modulo package offered by the manufacturer. The prices are also valid only until 30 June 2022 when the SST exemption for locally assembled cars ends.

Also read: ASEAN's most powerful, 2022 Honda Civic (FE) launched in Malaysia: priced from RM 126k

The final price you will have to fork out also varies on factors like the insurance provider chosen and the discount you manage to acquire from your respective dealer amongst other things.

First off, if you are looking to place a down payment of at least 10 percent, you can refer to the chart below to get an idea of how much you will need for each variant.

Honda Civic 1.5 E

With the lowest 1.5 E variant priced at RM 125,634, the monthly instalment for nine years can come up to RM 1,300, this is assuming if the interest rate is set at a 2.7 percent standard.

Factoring in the recommended guideline that you should not allocate more than 20 percent of your monthly salary on a car’s monthly repayment, the minimum recommended net salary for the E is RM 6,500.

Also read: Malaysia’s 2022 Honda Civic FE gets more power than Thailand's, here’s why

Further, the guideline also states that you should not fork out more than 30 percent of your monthly salary on car-related expenses like the cost of insurance, maintenance, and tyres just to name a few.

Factoring the additional 10 percent for running costs, you will need at least RM 1,950 per month to comfortably own the new Civic FE.

Honda Civic 1.5 V

Moving on to the mid-range variant, the 1.5 V is priced at RM 138,043. Assuming you put a 10 percent down payment, you’re looking at a RM 1,430 monthly instalment for nine years based on a 2.7 percent interest rate.

By that calculation, the recommended net salary for the V is around RM 7,150. This is after factoring in the additional running costs of 10 percent on top of the 20 percent instalment amounting to at least RM 2,150 to keep the car running like clockwork.

Also read: No more S or ECON mode in the all-new 2022 Honda Civic’s CVT? It’s still there, here’s how to find it

Honda Civic 1.5 RS

And finally for the range-topper, the 1.5 RS. Priced at RM 144,350, the 1.5 RS’ estimated monthly instalment is around RM 1,500 after factoring in the down payment placed, 2.7 percent interest, and 9-year loan period.

To be able to comfortably afford the Civic RS, you will need a net salary of RM 7,480 as the estimated monthly expenses of 30 percent of your salary, including the 10 percent running cost of the car, is around RM 2,240.

Summary

If you do not prefer a nine-year loan repayment period, we have broken down the monthly instalment of the all-new 2022 Honda Civic FE to 5-, 7-, and also 9-year tenures. As before, the calculations are based on a 2.7 percent interest rate.

Remember, this is just a guideline to give you an idea of how much your net salary should be to comfortably become a proud owner of the Honda Civic. Many factors would affect the calculations shown on this page, such as the changing interest rates for one.