If you’re looking for a cool used car, now’s the time to strike.
The other day I drove my wife to some distant corner of the Klang Valley to pick up a plant. An 8 foot tall Philodendron paraiso verde for RM10 – just a few years ago a single leaf cutting was priced at RM200 and you’d have to pay RM15 for shipping. Now it was being sold for peanuts just to clear space in a house. This has become a common theme in the plant community, as far as my wife can tell. Over the last few months, plant sellers once accustomed to high demand and low supply have found the script flipped. Now everyone has these plants for sale and only the true enthusiasts have stuck around. And many true enthusiasts already have the plants they want.
In the used car community, a similar story is unfolding. The market is starting to crash and it’s finally an exciting time to be an enthusiast again. I’m not sure what the reason is, but I’m sure it’s a combination of cheap, good new cars, a flood of great slightly used cars, and a lack of parking space. Whatever the case, we’re happy.
A quick search on FB Marketplace, Mudah.my and Carousell will show you a wide selection of cars priced to clear. Whether you’re looking for a decent daily driver for a family (previous gen Honda HR-V and Accords are now going for RM40-50K) or you want to try your hand at a coupé or convertible, prices are finally back in a logical place. By my estimation, the market for classics and collectible vehicles (10 years and older) hasn’t been this rationally priced since before 2021 (there are still plenty of hold outs). More exciting is the market for mass market and slightly premium vehicles that no longer qualify for financing. It’s also a buyer’s market for any vehicle that DOES qualify for financing too. So, without getting into too much detail, here’s some buying advice on certain pockets of the market that I have a personal interest in.
I’m not going to comment on the true collectible market. Here, the game has always been ‘willing buyer, willing seller’.
However, during the MCO period, the market for intermediate collector cars went a little insane. There was no coupé priced below RM35,000 even when there was little intrinsic value to the model itself. There was no convertible priced below RM40,000. I bought my second generation Honda Integra with a manual gearbox for RM16,000 in 2019 just to have a little fun and its market value more than doubled in 2 years. Today I’m starting to see four door models of the 3rd generation being listed for around RM20K again though many are still listed for irrational prices. The Prelude market though, has completely collapsed. I’ve seen automatic gearbox examples of the 4th generation listed for as long as RM9,000 with well kept manual samples listed at around RM30,000. Bear in mind that parts for this generation of Honda models are getting hard to find. Mechanically you can just about scrape by, but if you need body or interior parts, you may be stuck.
If you’re looking for a dignified cruiser for the weekend, there are also plenty of Mercedes-Benz CLK and SLK models listed for very reasonable prices. There are examples that start below RM19,000 and plenty up to RM30,000, which is still within reason. Do your own research as to which generation and engine is the most desirable and headache-free to run and have the cars taken to a trusted mechanic before making your purchase decision. This generation of Mercedes-Benz vehicles can be costly to daily, but as a weekend car a sub-RM20K coupé isn’t a bad deal. Convertible hard tops can be a pain to fix though.
I’ve also seen BMW E92 models collapse in the market. There are now options from as low as RM22K, though many are still hovering above RM30K. If well maintained, these are excellent value, though if you see signs of neglect, you need to walk away or drive the price down with a repair quotation from your mechanic.
If you’re looking for a daily driver that has some intrinsic or unique qualities – something that would stick out from the crowd without being too unreliable – you have some interesting options out there. There are a couple of Saab 9-3s from the NG era and final GM era available around RM15K. I’m not too sure about spare part availability, but if you’re interested, have these cars taken to a Saab specialist (the one I know of is called Road Rebels Garage in Shah Alam, look for Navin) and have them evaluated. He should give you a realistic idea of how much it will cost to run. The earlier 900s are still hard to come by. There’s a convertible V6 for a very reasonable price though that engine is said to be too much of a headache to run, oh and the roof doesn’t go down.
I mentioned the E92 before, but if you need four doors, the E90 3 Series is also now extremely good value for money. There are PRIME examples in excellent condition asking for less than RM19K. These aren’t the cheapest cars to run daily, but for that price you’re getting a bona fide sports sedan with a large 6-cylinder engine and many modern amenities.
There are PLENTY of options in this market. My personal advice on running older cars is to always have at least 2 vehicles in your garage. One has to be simple and cheap to run the other can be a little exotic. This combination can end up being cheaper than running even the cheapest brand new car on the market and be many times more satisfying. Now is the time to satisfy your curiosity if you have the funds and interest. Always find and consult a trustworthy mechanic before diving into anything niche.
