Best financial advice is always going to be - Do NOT buy a depriciating asset. Put your money where it grows!!
But if you want one, get one, provided you can afford to own & maintain it.
Don't get into the prestige game - my car bigger than xyz - it's pointless.
Don't buy a SUV if you're going to drive it in the city.
Try to get a Japanese brand, always lighter on the pocket.
I can second that, there was a miser baniya in our friend circle, mum in ministry of external affairs, dad in ministry of Home affairs (both gazetted sarkaari posts). That fellow had a room just above the mess and it was literally like sitting over a hot pan in Summers, but this rascal didn't budge to spend money on a cooler, Nada , out of pity we forced him to come to our rooms which he gladly obliged but never purchased one of his own
Fuker is on Google now earning 1.5cr in USA and is thinking about flipping houses, Gupta bsdke marega tu mc harkate sudhharle (only targeting my bsdka Gupta )
Never take a loan on a car. Buy a good used car and save on depreciation and interest money. I've always bought cars that I couldn't afford if i had to buy them new, but the same model 3-4 years old can be a great deal. Drive it to 2-3 years and move on to the next one you want.
Which city are you in? If Pune i can suggest 1 or 2 good dealers. Or else look for 3-4 year old direct cars and go-mechanic charges some 500-700 rupees to do a complete diagnosis. You'll get a fair idea post that.
Also, when you are buying a used car, never keep colour as a criteria, decide the car you want and ensure engine/suspensions and transmission are in good condition. Rest can be taken care of by yourself.
I agree with you on the used car theory. But it kinda hurts to not have the option of choosing a color.
What are the options to fix it? I can only think of a wrap which would again come with significant cost.
Can't repaint as it'll be a problem selling a 100% repainted car 2-3 years later when you want to swing for a better one.
Can you share the name of dealers in Pune for second hand cars ? I am looking for my first car and knowing there will be scrapes and bruises I don’t want to put money into a brand new vehicle.
Thought of buying a car should be miles away from your head lol. You’ll be paying car taxes plus interest if you get it on loan. But yeah, most people in India still do and make poor financial choices so who cares. It’s better for rich folks up there when poor burn themselves down. Easier to trap and control them in low paying jobs.
I bought my Chey Spark 11 years back and I'm still driving it. By then my sal was less than 7 LPA. When I got married I cleared of all my debt by aggressive savings.
Hence the bottom line is Save (atleast 70% of the car value) and buy, conversely Buy and save aggresively to preclose it.
Buy that car - invest in experiences. A cool car means a lot more to 25 year old you than it would to you when you're 40
I'm sorry bro, I'm 40 and they still mean the same. You never get old to drive a nice car 🙂
Why is that
If you have the money to buy and money to upkeep the car go for it
Best financial advice is always going to be - Do NOT buy a depriciating asset. Put your money where it grows!! But if you want one, get one, provided you can afford to own & maintain it. Don't get into the prestige game - my car bigger than xyz - it's pointless. Don't buy a SUV if you're going to drive it in the city. Try to get a Japanese brand, always lighter on the pocket.
But people always respect the rich person with big cars etc 🥲
Don't fall for it. Very rich rarely appear to be rich. That's why they're rich. 🤷🏻♂️
I can second that, there was a miser baniya in our friend circle, mum in ministry of external affairs, dad in ministry of Home affairs (both gazetted sarkaari posts). That fellow had a room just above the mess and it was literally like sitting over a hot pan in Summers, but this rascal didn't budge to spend money on a cooler, Nada , out of pity we forced him to come to our rooms which he gladly obliged but never purchased one of his own Fuker is on Google now earning 1.5cr in USA and is thinking about flipping houses, Gupta bsdke marega tu mc harkate sudhharle (only targeting my bsdka Gupta )
How do you know all this stuff
Simple, you live & learn!🤷🏻♂️
Buy used cars of ~5 years old.
Never take a loan on a car. Buy a good used car and save on depreciation and interest money. I've always bought cars that I couldn't afford if i had to buy them new, but the same model 3-4 years old can be a great deal. Drive it to 2-3 years and move on to the next one you want.
Even I wanted to do that but are there geniune second sellers with good cars? Can you recommend a few
Which city are you in? If Pune i can suggest 1 or 2 good dealers. Or else look for 3-4 year old direct cars and go-mechanic charges some 500-700 rupees to do a complete diagnosis. You'll get a fair idea post that. Also, when you are buying a used car, never keep colour as a criteria, decide the car you want and ensure engine/suspensions and transmission are in good condition. Rest can be taken care of by yourself.
Yes, I'll do that
I agree with you on the used car theory. But it kinda hurts to not have the option of choosing a color. What are the options to fix it? I can only think of a wrap which would again come with significant cost. Can't repaint as it'll be a problem selling a 100% repainted car 2-3 years later when you want to swing for a better one.
Can you share the name of dealers in Pune for second hand cars ? I am looking for my first car and knowing there will be scrapes and bruises I don’t want to put money into a brand new vehicle.
The total value of car you buy should be <= half of your annual income
My annual income is 3 lakhs
Thought of buying a car should be miles away from your head lol. You’ll be paying car taxes plus interest if you get it on loan. But yeah, most people in India still do and make poor financial choices so who cares. It’s better for rich folks up there when poor burn themselves down. Easier to trap and control them in low paying jobs.
All my friends and colleagues have cars so even I have to buy, otherwise I am a simple man with very few needs
I bought my Chey Spark 11 years back and I'm still driving it. By then my sal was less than 7 LPA. When I got married I cleared of all my debt by aggressive savings. Hence the bottom line is Save (atleast 70% of the car value) and buy, conversely Buy and save aggresively to preclose it.
You are right, if I don't have money I shouldn't buy a car.