3 ways to cut down on costs as a Malaysian car owner

Malaysians are lucky that petrol is subsidised by the government, but urban households still spend a high percentage of monthly expenditure on gas and other fuel, according to the Department of Statistics Malaysia (DOSM).

To optimise your budget, you can use a credit card that offers rebates for fuel purchases.

Even without a "fuel credit card", you can always use other credit cards to earn reward points and make the most of a necessary expense.  

If you are concerned about your car’s fuel consumption, consider: 

• Trading it in for a car with better fuel mileage, i.e., consume less fuel for the same distance
• Switching to the lowest octane suggested in your vehicle owner’s manual
• Getting a hybrid vehicle to reduce your petrol usage or go for an electric vehicle
• Buying a smaller or more economical car

This serves as a dual purpose. Annual road tax and car insurance premiums depend on your vehicle. Cars with higher market value or bigger engine capacities tend to come with higher insurance premiums and road tax. 

Another option for lowering your insurance premiums is by choosing a flexible car insurance plan where premium is based on mileage rather than solely on car market value.

For example, Chubb's MY Smart Car Insurance offers comprehensive protection tailored specially for low-mileage drivers. You could pay less when you’re charged based on usage, yet still enjoy cover against 3rd Party liabilities (i.e. for injury or death, or damage to property), for accidental or fire damage to your vehicle or theft of your vehicle. 

Based on the plan chosen, you can get car insurance coverage for driving mileage up to 10,000 kilometres with the flexibility to top up before you reach the mileage threshold. Any mileage you don’t use can be carried forward to the renewal policy.