I'm in your situation except I drove for years in France before so I had a little bit more insights.
Here's what I would advise you to do:
- For a first car in HK, definitely buy a cheap one, cash. Your salary cannot affort a 400k car. I wouldn't either and I earn 3 times more than you.
- Don't forget the yearly MOT, every year it will come back, every year a new chance at discovering issues
- Insurance will be like mine: I'm considered a new driver in HK, on a sport car, that is 21 years old. I pay the maximum they could make me pay, 7k a year, and it doesn't cover the car itself, only the damage I cause to people and their properties.
- Service and parts cost a lot for nice cars, so save for it. One day a 50k job will be required to make it drive again. Or one day you'll rip a taxi like I did, get a huge scratch on it and lose half the resale value unless you fix it - for half the resale value... good thing my car was under 100k with no debt
- Finding a good parking is difficult. Mine is 2k/month in central - what a bargain right ? Except it has a huge mega slope, I cannot park it easily and I scratch the car sometimes trying to maneuver in it.
Rule of thumb: only throw money at a car in HK that you can afford to lose or that you'd have thrown in a casino in Macao... It's not an investment (as in Europe you need one to get to your job), it won't raise in value and you must be ready to ditch it in the sea at the first sign of paying more than you can afford to literally throw by the window.
Selling a car is also very difficult!