![\"\"](\"https:\/\/i0.wp.com\/farm3.static.flickr.com\/2285\/2054822066_14a10f533a.jpg?resize=500%2C332\")
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Looking good does not have to be expensive<\/p>\n
Most of the people will laugh at me when I tell them that a BMW can be cheaper than a QQ. A BMW 320 made by Huachen BMW in China is sold at around 300,000 RMB. A QQ made in China is sold at 50,000 RMB. So how is a BMW cheaper than a QQ?<\/p>\n
Well, if you pay in full price and brought all of them new, BMW is definitely more expensive than a QQ. However, if you get a near used (but near new BMW), it can be cheaper than a new QQ. In Chinese used car market, a 2 year old used BMW320 is around 200,000RMB.<\/p>\n
Let us assume that today, you buy a BMW320 at primer condition (as good as new) at the market price of 200,000RMB. A new QQ is sold at 50,000RMB, with all the sales taxes, etc, the new QQ will set you back for 60,000RMB.<\/p>\n
One year from today, the BMW is worth around 195,000RMB. The QQ is worth 40,000RMB. Let us do the math here.
\nAssume 6% interest rate and 0.5% per month.<\/p>\n","protected":false},"excerpt":{"rendered":"
Looking good does not have to be expensive Most of the people will laugh at me when I tell them that a BMW can be cheaper than a QQ. A BMW 320 made by Huachen BMW in China is sold at around 300,000 RMB. A QQ made in China is sold at 50,000 RMB. So […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,9],"tags":[45,203],"class_list":["post-69","post","type-post","status-publish","format-standard","hentry","category-economics","category-life-in-china","tag-bmw","tag-personal-finance"],"yoast_head":"\n