Why Finance Influencers are wrong about your car buying decision?
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- Опубликовано: 6 фев 2025
- You must have stumbled upon some reels where some finance gurus are explaining you the formulae to afford a car, do you think they are right?
Can't you afford an alto even with a salary of 1lakh rupees a month?
well let's find out in this video as I've debunked many unrealistic car-buying methods that are being pushed on you through social media
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No Ankur was hurt in this video
LOL
😂😂❤
I got hurt when I learnt that Ankur is from ISB.
@@only_Anjani Why
Why guru?
Warikoo: If you get married, your savings will get halved. Instead, you could invest that money in a mutual fund.
What if your wife also earning
@@007tushardThen you invest her earnings and yours 100% 😂
For MF me invest me karte karte die and the fund remains unclaimed.
@@007tushard😮😮😮😮😮😮😮😮😮
Marriage is financial blunder after divorce you get broke.
My friend was working as teacher in school, he brought a bike on EMI which did not fit into any rule according to his salary at that point. After buying the bike he started giving home tution in the evening as traveling to tutions via public transport was buring his time. Now he is earning more money in the tution business tha his school salary, even after changing his main job and getting higher salary than before. If he at that time followed those finance influencers he would still be doing monthly sip of 1500 rupees instead of earning 3 times of what he was earning. All because he bought a bike which provided him the mobility to earn more.
👌
Some days ago there was state transport protest in Maharashtra, and my father was half way through the journey to my brother for delivering some things and meeting my niece. Now he was stuck. I asked my mom should we go ? It's only 400 km , and just like that we took our car , picked up my father on the way and reached our destination.
You can't put price on that.
Cars are important.
So depreciating asset and all that is nonsense.
Exactly. Sometimes convenience and freedom are invaluable.
true, Cars like your 1bhk on move with your family in a relatively safer environment. Can’t put a price tag on that. Just be sensible about the car you can afford and need
freedom of going anywhere anytime is invaluable
It is a versatile tool and should be treated as such. Claiming cars are depreciating assest is like saying swiss army knifes depreciate.
Yeah, but a 5L car or a 50L car, both will do the same job. That's where the depreciating asset 'nonsense' comes in.
Le people having salary 20000: BUY 2 Lakh iphone on emi
Edit: Jinka salary 10000 hai woh 80000 ka iphone lete hai because unka credit limit utna he allow karta hai 🤣🤣
Edit: i am also iphone user 😢 but i bought in cash
90% of them buy base model bro come on wake up to reality
@@NagarathnaN-n6j still the base model costs1.3 lacs that is still a big amount for someone who has a salary of 20k
@@ਅੰਸ਼ੁਮਨਬਰਾੜ Base model 1.3 lak? Bro where you livin? Base model iphone is 80k.
@@ਅੰਸ਼ੁਮਨਬਰਾੜThey don't even buy the pro model. iPhone 15 base model costs around 60k
They are called chhapris😂
Bro roasted ‘crore’ guy in intro🫡💀💀🗿🗿
Laakhhhhhhh
Cabs cannot help us in emergency situations...we need a car for our own comfort and also for our precious lives at emergency....you cannot buy new life..
Get an auto rikshaw.
You should be a good salesman
@@JiyuTomo first you buy
@@JiyuTomoAutorikshaw are also sometimes not available when we need a transport at the time of emergency
Be sociable with your neighbours, they will rescue you. Stop being a caveman 😂
Salute to you, bro, for covering topics that most RUclipsrs don't really talk about but are super important for us to know as buyers. Really appreciate all the hard work you put in to keep us informed. Thanks and Keep up the great work!
I recently read "Psychology of Money" where the author Morgan Housel nicely puts up that humans are not excel spreadsheets.
Indeed not every decision should be so rational. Emotions should have a say. The beauty is in the balance. It shouldn't be all emotion or all rationale driven.
Bang on! This book was a big eye opener!
Balance
That's the key in every decision.
If you ignore your heart then will not remain happy
If you ignore the mind then it will be problematic later.
❤
I'm reading that book too
I read Author Morgan as Arthur Morgan 😅
Meanwhile us🗿who don't follow those so called MF finance influencers 🤡💩
Us moment brother🤝🏻🫂
@@siddharthjain6738 khali bkchodi krte hn😅
@@zade-wq9kb literally 🤣🤣
@@p.shuaib13 OK
There are few financial influencers (some of them professors) who actually give good advice.
Starting reel remake very nice lovely 😂😂😂
One more tip: Buy a car which cost less or equal to your annual income.
I made a mistake, bought a car double my income.😢 (Although the reason for purchase was a bit different for me)
Clarification: Annual *Post Tax* Income
straight calc for mid class indians, max go equal to taxed annual income for car and go 3 times annual income for house, other wise rent it.
Which car you bought ?
@@Anant.Bhatia.Antz_Bin yes, important point
@@callingbell-ix5se I got MG Astor. Costed around 18L.
No Warikoo was harmed in this video 😂
Yes, 😂
the most practical commentary on car buying finances, most people seem to forget the emotional aspect and happiness related to buying a car..
Some dos for buying a used car.
Try to buy it from a person or a dealer you or your friend know personally.
Keep looking for the best deal until you find it. Don’t rush to buy a used car in a hurry.
Tell your friends and relatives about your buying intent. The chances are you find someone from your circle who wants to sell a car.
Take someone with you who knows how to inspect a car properly.
Negotiate as much as you can and make the seller realize you want to buy the car genuinely. I managed to bring the car price down by 80k by delaying the purchase. Selling used cars is a painfull process, so people can sell it at a lower price if they find a genuine buyer.
Yeah ur the one who telling the truth and it's even better way to explain necessity or show piece. Second hand wagonr is now best option for my small family. Thank you for a brilliant video. Keep it up.
Finalllyyy!! Someone made a video on the overhyped 20-4-10 rule which every other finfluencer just blatantly slaps on to your face .
Its a good rule for money saving. There is a saying dont buy stuff that you cant buy twice.
You bought a car, and a problem occured and insurance people refused to pay, you will end up paying emi with no car.
20-4-10 takes worst into account.
@@gamesong6600 okay 🫡
These rules are usually approximations or guidance on the lines of a bigger concept of affordability.
If not be 20-4-10, it can be 30-5-20. Question is do you have enough savings in cash to be left with short term goals and emergency needs even after paying 30% in down payment? Is the additional interest worth it for each additional year of loan? Can you afford 20% of earnings going towards car EMI when you already have rent or house EMI?
Proportions might change but core concept of affordability and trade-off is still there.
Your preference about car changes over time, in my 20s I felt that a two Wheeler is way better, efficient, affordable, but when I hit late 20s and early 30s i started to realize the importance of a car, your parents grow old, hospital visits become frequent, you get married and then it becomes a lot sense to have a car with a larger space, a car is no longer a luxury but a necessity these days
0:39 jo insaan ki 1.15 lakh ki monthly salary hoga, wo kabhi Alto Cng nahi khareedega, wo minimum Kia Seltos/Carens lega hi😂😂. Par zyada chances hain ki wo SUVs ki taraf jaaye
Bought used Swift, it’s been performing great since last 3 yrs
What about the mileage & maintenance cost as compared to a new car?
@@desertcactus619 Just 3-4k service cost, Haven't done any major work.
Returns 20-22 kmpl on highways
Smart and practical. I can only expect you to say such mature things. No one realises what you say
8:00 cars 24 wagerah bahut mehenga gaadi bechte hai. 2021 model ignis zeta ₹6.5 lakh me bechte hai jab ki new car ₹7.8 lakhs me mil jayegi
Ankur Warikoo definitely hurt during making of this video
Aap khud ko maar daliye 😂😂😂
@@dr.pushpakmali5261he might make sense to upper middle class metro dwellers, not to the majority that aren't from that demographic.
@@s_n9210 indeed the problem with him is he is to rational or practical. He assumes that if i did this in my life to achieve freedom on every sence every one should do that.
Acc to me the people who earns less that 60k per month shouldn't watch his content.
He has been making helpful videos for his audience from years. It doesn't matter to him if some of his videos goes in the wrong way.
Sharan too 😂
Used car buying guide pe ek series kis kisko chahiye? Like karo 😊
Used Honda cars are gold mines video watch
Most of the people who consider cars as a status symbol are those who have recently entered a financially stable condition. My family were Zamindars and had multiple cars since the British period, many were imported like dodges etc. for me a car is just a mode of transportation.
Even now none of my family members cars are more than 15 lac even though most of my family can buy 20 lac cars in just 2-3 months through agricultural income.
Your car doesn't speak about your social status at all, it comes down to actual money and your family history.
BTW most of my family members cars cost below 8 lac
Jab se 10 aur 15;saal ka rule aaya hai tab Se 2nd hand Car market are rocking 🎉🎉🎉🎉🎉🎉
So you mean second hand cars are getting cheaper?
I'd say getting a used car would be a better option overall than buying a brand new car in India considering the tax brackets and all
@@hrittikchakraborty8953 how exactly? Can you explain with an example? I’m curious to know
@@dhvanantrivediYou should search on google or youtube as there will be a lengthy answer for this with multiple calculations. Not suitable to explain in a YT comment
People are spending 60-65% of their salaries on EMIs of Home, Car and Utilities under societal pressure. The scary part is they don't have the runway of 6 months in case of Job loss.
The thing about love watching your videos Is that you evaluate all the key points that is basic 1:11 👏🏼
This is what happens when you read books of internet based on a collective group and apply it on everyone. It's funny people would just make a straight jacket formula and apply it on everyone. It's all about how well you can handle your funds and what are your actual needs and wants. Don't just listen to guys who tell you how to use your funds and be wise. Earn good and spend well.
Finally someone is practical
And this man is being consistently senseful!
4:30 this is the part that car companies like mahindra and toyota dont realise thats why they have such long waiting periods 💀💀
They understand but they follow rolex strategy never give your product when asked make it desireable
@ganpatsinghrathore7723 it isnt rolex strategy. its more of hype generation you book the car but it doesnt arrive that soon since mahindra is slowly increasing the price so a mahindra which they claimed to be 25 lakh actually costs 28 lakh when you get it.
@ganpatsinghrathore7723 for the same reason why during the launch of scorpio N and xuv 700 only the base and top models went into production the mid variants had not even left the design board.
I relied on Cabs (Ola/ Uber etc) for over a decade. Yes, Maths may tell you to use cabs since there is no ownership cost but the day the outstation cab charged me 4K (for one side), I bought a car since that was egregious. I fully agree that own car gives you convenience and predictability. For market hustles, I prefer cabs/ autos or public transports, for rest, I love my car 😍.
Note: I agree to the statement about social validation. I took the car I needed vs what people around me wanted. I am happy with my Tigor Petrol AMT since it meets my needs. Rest of "Gyani" world can preach elsewhere.
The reference is for AW.
0:43 aukaat alto ki bhi nhi😂😂
Baat to sahi boli hai 😂
😂😂😂😂😂😂😂
@@Harpreetsingh01703 ha bhai ab abhi k liye to accept Krna hi padega
Bhai Etna bura to naukari na lagne pr bhi nahi huva tha
@@atishchavan4899 😁😁😁😁 bhai rishtedaar krwa denge
Best thing is buying a car under business name. Claiming GST refund and depreciation every year.
But what if we are of the salaried class?
@@saumabhobagchi5547 The nation graciously accepts your service and selfless gratitude.
That's tax fraud.
@@himalayanmonkgaming whole India is doing it. It is a sort of loophole. No one can distinguish if you bought something for your personal use or business purpose. All businesses use it to buy mobiles, cars, ACs etc... Even personal chauffeurs are paid salaries as employees of the company.
bhai just eak correction
gst section 17 : blocked credit does not allow any person to claim gst refund ( or input tax credit ) on the gst paid while purchasing a car
so fir income tax ke under pure amount par depreciation hi claim karna padega
and also jis cheez pe input tax credit le lete ho ( gst refund ) toh uss gst portion ka fir depreciation nahi le sakte
govt humse bhi jyada smart hai
Yes, First time someone understood the points & not telling unimaginable unpractical talks!
Right now there is a massive increase in inventory days for the dealerships. They are pushing off their inventories in discounted rates which are supposed to increase in coming days.
Make a video on this. I think if we can crack a better deal for the 2023 model in their inventories with 15-20% depreciation that will be a great deal, an easy 25-33% off deal. And no hassle of buying a used car. Make a video on this bruv!
Somebody needed to bring this up, much appreciation about making this video!!
Bro you nailed it ! Once this Waricuuu said petrol cars are 1.5 lakh cheaper than diesel blabla bla.....I ignored him as I was getting mid variant diesel at price of Top variant petrol for same car .
My Diesel car is actually cheaper than the petrol car of the same trim when I include running costs.
The actual difference between a petrol and diesel car in my case was roughly 1 lakh (= ₹2000/month in EMI) BUT, in the early 8-10 months, my usage was so much that I was saving 4000+/month in just fuel expenses.
Soon after I got a raise and the extra ₹2000 didn't even matter anymore 😂.
Is that a FORD? Or Fiat ?
@@varunsoni4069 It is a 2019 Ford Figo with the delightful 1.5 Diesel 😁
@@Anant.Bhatia.Antz_Bin trend? Titanium?
@@varunsoni4069 Titanium. Red one.
One of the best channels I have encountered over last few years, you bring the real facts out to the people, great work.
He's not trolling finance influencers. He's just saying don't follow everyone blindly. Listen, learn, then decide for yourself.
This video should reach millions of views this is what we need ❤❤ great content bhaiya ❤
Bhai car owners ke liye unki gadiya bache jaisw hoti hain isliye i dont guess that we hear these financial influencers😂😂
*Hear
@@Darthvader-h7c thanks bro
For majority people, Cars are just a necessity rather than a hobby
Hah jab wo bacha aukat se bahaar ka ho or paal he na paaye koi insaan tab fhir wahi baap rota h.
Bhai yehi sachaai h kaafi logo ki india may.
They don't know how to manage their finances. Aukat se jyda ki wants Kharid lete h or save nai krte fhir depressed rehte h. Fhir ye emotional bacha bacha waale decisions ko Koste h.
Isliye decisions kosish kro toh practical lo. Bahaav may mat lo, kyuki ye bahaav waale decisions he le dubte h.
Phle needs aate h fhir wants...
@@deepakbisht7764 bhai aapki baat sahi but tier 1 aur tier 2 mein ye pronlem nahi hain
FINALLY!! Someone made a video on this topic and I resonate with this 100%. This validates my understanding & opinion of AW's 20-4-10 video/rule!
This rule is very good sir if you looked in to it thoroughly.
Most of the time, Fin. Influencer हमे बेवकूफ़ और खुद को ultra pro max समझदार,
आपकी लास्ट लाइन बिल्कुल सही है, जैसी जरूरत वैसा decision 👍
Fabulous video, well explained and clear thought process 👏
Sir. I chose car as mode of transport. I purchased Tata nano 2 years back for 35000. Spend 15000 as maintenance since purchase. 5000 as insurance. Drive approx 10000. Average of car is 17kmpl. So petrol cost 58000.
Using car for 2 years cost me around 113000 Indian rupees.
I had plan to buy Honda Jazz for 350000. That was on hold seller asking for 385000.
In between I found 2010 model Tata nano in very good condition.
My decision was absolutely correct because initially people was making fun of me including my wife. But after sometime they was asking if I have any contact for tat nano. 😂
I am still getting 45000 for this car on OLX.
Hope this will help you..
I am fan of your work. Thanks for informative videos ❤
Love from Navi Mumbai. Maharashtra
Kya bhai, Activa se sasti car :)
@@memesofproduction3yes but petro cost more than car itself 😂
Great content...and above all a different league. Continue with good work.
10 years old Dzire is being listed at minimum 3.5. Which does not make any sense
Some people have ruined second hand car market. They don't understand depreciation.
cars24 and spinny do that. when u want to buy they compare it to new car prices of 2024 and try to tell you great deal it is, many people dont understand it.
Much needed video. Its a stupid idea to book cabs, even in tier 1 or 2 cities we know the pain of getting a ride booked. More than money, its the time and convenience that matters over time.
Please make video about why all companies are giving discounts and does the price will still go down or this is the least price we could get
Loving all your content. Well researched and explained. God bless you!
No warikoo was hurt in this video
Exactly brother.. you nailed it with the topic..
Life can't always be a profit & loss statement. You can't be on the safe side every time by some financial emotion less formulas.
Fintech guys are not wrong. I wasted a great deal of my hard earned money on iwing and maintaining a car since 2005 and regret it these days. Back then cabs were expensive and aggregators were not available, however now a days there are ao many options. Yes some times you will get struck but planning helps at cost of convenience. Also remember that a large part of the population park their cars on roads as they lack parking. Its heart wrenching to see your property damaged or stolen when you cannot safeguard it. Cars are a liability and the more expensive they get it is better for our environment. Government should provide better and safer facilities tor 2 wheelers and cycle for a greener future.
You cannot plan an emergency. People who can afford a car, should buy one. I agree with you on the parking issue, cars parked on the road should not be a thing.
A large part of the populace also live outside of the metropolitan cities. Good luck trying to sell the idea of hire cars and round the clock public transport to that populace, where it is non existent. What I find is that most finfluencers are a bit dense and view the world through very narrow lenses of the the Top 0.01% metro dwelling individuals.
Every time I see your videos... It is something new and great 👌🏻
For finance influencers inflation doesn't exist 🤣🤣
Kudos to you brother. Finally someone spoke sense
Make video why electric car is not growing in india??
1) charging stations
2) range anxeity
3) no resale value
4) reliability issues
5) price.
You are awesome in any auto analysis. Way to go....
Biturbo: 1 FinInfluences: 0 🙂
Convenience, emergency situations make a car a very compelling buy. No money can help you when you are in a fix. Great video i must say 👌
0:23 Bhai no one in India give car loan at 8%😂
Min 10% to hota hi hai
8% available ..
Car is a depreciable asset. It should not be purchased on loan unless it contributes to your business/adds value to your business.
Main nano lene ki soch rha... Kaisi rhegi?
Budget kam h....
@@zade-wq9kb a good option. For city running. CNG would bring fuel pricing equal to a two wheeler.
@@zade-wq9kbwatch DDS channel it has some user reviews on nano. Invest after proper research.
@@kprashanntt4603 considering for village usage. Barish m family nhi jaa paati koi kaam pdta h toh
@@zade-wq9kb Alto ya WagonR lo aap tension free rahoge
Yess thank you ❤ we need this kind of practical videos from every car influencer.
Bro you can pucca become a finfluencer 😂
Overall fantastic video, just one correction loans on new cars are secured loan. The news snippet you shared was for unsecured loan like personal loan
2:17 german shepherd said this 🐕🦺
Ur father???😅
@@diamondrock4945 No I am not your father. You are adopted 😊
@@FaltuTime-u4sgerman cockroach hai german shepherd bahot loyal hote hain
your observation is what is called "wisdom"! 👍
Thank you for your efforts to clear people doubts
बहुत सही बात कही आप जैसे सही मार्ग दर्शक की सलाह सभी के लिए उपयोगी होगी
Much needed video...... People like Ankur warikoo tell you to think like a machine
I highly appreciate the topic and content of the video. This is a very sensitive subject of modern society.
Bro, Also make videos based on categories like most fun to drive cars, enthusiast's favourite cars, worst cars of all time, underrated and overrated cars. Add these videos to your upcoming series. I am sure most of your audience would love that. ❤
Amazing video bro... Your Content keeps getting better
Good video make more like this rather than making only car videos❤
Great work guys I'm a finance professional whenever i see these type of new fin-influencer spreading this type of knowledge & adding nothing valuable to the life of viewer is stupid .
Behtareen intro brother... Sahi dhoya hai finfluencers ko... Kuch bhi bolte hain RUclips per...
Balance
That's the key in every decision.
If you ignore your heart then will not remain happy
If you ignore the mind then it will be problematic later.
Highly informative video. Good to see someone counter the human calculators. 😅
First time someone had made sense in this subject 👏👏😎
वीडियो बिल्कुल सही हे लेकिन इसके साथ साथ लोगो को ये भी समझना चाइए की गाड़ी की जरूरत कितनी हे।
अगर साल ४ से ५ हजार किलोमीटर भी गाड़ी नही चलेगी तो नही लेना चाइए।
और अगर पार्किंग की समस्या हे तो नही लेनी चाइए। अपने देश में आधे लोगो की गाड़ी घर के बाहर रास्ते पर खड़ी होती हे जिससे सबको तकलीफ होती हे। और अगर गाड़ी बाहर खड़ी हे और किसी कारण वश आपातकालीन परिस्थिति की संभावना हो गई तो विमा कंपनी वाले पैसा नही देते हे।
शहर में कितने गाडियां रास्ते पर खड़ी होती हे चलने में तकलीफ होती जो कभी भी नही हटती वहा से।
जरूरत हो तो गाडियां खरीदे।
The videos car community really want ❤ (waiting for the next video)
this ease of information and knowledge make me to subscribe this channel
Really nice and practical video. Appreciate your efforts.
It is good that you have made a video on this topic. mostly we only see other Car Influencers who are busy with new launches of cars and their monthly sale reports, It feels good that i follow the right person All the best in ur life keep doing the good work.
to the point perfect video, buy second hand car, research well or buy from spinny and pay cash, no loan :)
bhaisahab dil ki baat bol rahe hai
What a video.. 💯💯💯💯
Awesome content 🔥
It is true for every advice finance influencer gave to viewers
Thank you so much for the upcoming series for used car
This will be immensely useful for a lot of people.
Yahi mai sochta hun sahi bol rahe ho very well explained
My father owns hyundai santro which he bought from second hand market in 2008 and still running great, and that car is 22 years old from manufacturing year 😊
Finally i saw my instinctive thoughts on a video
Which i never thought i will see on RUclips
absolutly agree on used car point planning to buy a cars for so long now and just purchased a used 2018 Hyundai Verna
Bhai we need more 2nd hand car buying videos, eagerly waiting fot it
I like your video, I came to know about your channel when Abhijit Iyer Mitra shoutout your name on recent Dostcast episode.
Thankyou aap middle class car enthusiast ke liye itna sochte ho, pls wo video nikalo jo top 10 best car in budget ho ❤️💯✅👍
I completely agree with you 💯 if the budget is low one can opt for used cars from certified used cars vendors. I myself purchased a used car which is running without any trouble. Used cars also have less depreciation rate which is also a plus point. Don't follow such illogical financial influencers' calculations for getting a dream car.
Very nice information 👌