Buying a 2021 Mitsubishi Triton? Here’s the minimum salary required

Eric · Apr 14, 2021 11:28 AM

Also Read: Priced from RM 141k, the 2021 Mitsubishi Triton Athlete could run rings around the Hilux Rogue

How much do I need to make?

Buying a 2021 Mitsubishi Triton? Here’s the minimum salary required 01

The monthly repayment for the Triton Athlete is roughly RM 1,420, factoring in a 2.27-percent interest rate with a 9-year loan.

Buying a 2021 Mitsubishi Triton? 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 7,100 a month.

Buying a 2021 Mitsubishi Triton? Here’s the minimum salary required 03

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.

Below are the monthly installments for the 2021 Mitsubishi Triton Athlete for 5-, 7-, and 9-year tenures. These rates have already factored in an interest rate of 2.27%

Monthly repayment for Triton Athlete
Loan tenure Monthly Repayment (RM)
5 years 2,360
7 years 1,760
9 years 1,420

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.

Don’t take the 9-year loan option

Buying a 2021 Mitsubishi Triton? Here’s the minimum salary required 04

It’s definitely worth repeating here that we don’t recommend taking the 9-year loan option.

Buying a 2021 Mitsubishi Triton? Here’s the minimum salary required 05

Opt for a 9-year tenure and you’re paying RM 26,000 in interests alone. Meanwhile, getting the shorter 5-year loan means you’re only paying RM 14,400 in interests – considerably less than the 9-year tenure.

Buying a 2021 Mitsubishi Triton? Here’s the minimum salary required 06

There’s also the unfortunate situation where you could be forced to sell the car or claim total loss from your insurance. You would have to top up more money before you can settle the loan because the outstanding balance is more than your car’s market value.

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.

Comments

Up to 20% higher than average trade-in price

2019 Mitsubishi Triton Quest

Upgrade

Add your car

Service powered by carsome

Latest Cars