Friday, September 14, 2012

YourCent Mycent: Dont Touch My Car!

Surprise! Surprise! As you know, this is my way to voice my opinion. World is your canvas and you shall paint it your way! Opinions, ideas, assumptions and ramblings would be all part of future writing.
I was little nervous to think something to write. Ideas don’t flow naturally and writing is stressful. The first thing writers’ think of is to write without sounding insane or slapstick. Otherwise, you might just be crucified by your peers, which I don’t want to be!( is it the best reasons for left almost 3 months from updating my blog?)
The end-of-life vehicle (ELV) policy perked thoughts recently, when market talk indicate the authorities might re-implement the policy that was scrapped in 2009 following a huge public outcry.
If this is done, vehicles over 15 years of age are required to pass an annual inspection before its roadtax is renewed. Not only would this burden the public, being engaged for inspection every now and then, the process also consumes a substantial amount of time, effort and money.
The consensus among people I spoke with is a preference of not wanting an ELV policy. Many lament over the cost of replacing a car in Malaysia is just too high.
We are probably the only country with a maximum hire purchase loan duration of nine years,which is practically unheard of in other countries.
Perhaps, Puspakom Sdn Bhd will appear to be largest benefactor of such a policy, and will be on overdrive just to keep up with the hike in car users needing yearly certification to comply with the policy.
Coupled with the intention to lower car prices, it will be a double whammy to the whole automotive market, as residual value of second hand cars will be affected as well,putting the whole market in limbo.
At the very least, if this is going to be implemented, the authorities should also consider incentives or the clunker programme to entice the public to replace their old jalopies.
Before anyone shoots himself in the foot again, the upcoming review of the national Automotive Policy should take everyone’s concern including the car buyers, lenders ,dealers and distributors. No one should be left out or face the brunt of changes.