I bought my first car when i was 25 years old. Of course no idea what’s the thumb rules and all. I dont know if i did did wrong or right. I am 32 now I am glad I bought it that time. 7 years were fun wonderful. I took my parents to many places. I never let them take any auto bus train . convenient all times. My mother passed away this year. If i could have ever waited for right time to buy car those glorious pride in mom’s eyes could have been missed. Just do what your heart says. I am from middle class family. I do know it is depreciating asset. But remember you pay premium for convenience on any items your purchase. I have seen people dont eat out side god don’t go movies. I have seen people who do. Guess what both are gonna die one day. Remember to save for future and at the same time also taste the materialist world. Edit: I bought my second car in 2023 Tata Harrier. Feels like top of the world. Dad is so proud as no one from my family ever bought a SUV.
Best response. I bought my car at 25 too even though I paid 30% of my net salary as EMI. I was able to get my grandfather sit in it and take him for around my native place. I lost him in less than a year's time. All rosy stuff these youtubers talk are very idealistic and even might not best suit them! Follow your heart and little brain will work most of the time.
Even if you always invest in appreciating assets and watch your money grow, it can give you a feeling of satisfaction and peace, but to enjoy your money, it has to be spent on depreciating assets. Always remember, you're not gonna live forever. Some things can be enjoyed only till you're young. 🙂
Very well said. We should understand the value of a thing. A harley Davidson will no value to a 60year old person but will mean the world to a person who have bought it in their late 20's from their own money
My formula is simple. I invested every penny in mutual funds. Created a good basket. Now I have booked 2 BHK. Will buy four wheeler next year ( no priority) and will start exploring India and world in coming years. (without touching my core portfolio)
@@jagandas8322 so many schemes. You can choose nifty index fund, flexi cap fund, if you can wait more patienly then small cap and / or infotech sector fund. Please don't stop investing until you reach your dream corpus
Rachana, as always, very crisp explanations. Keep going. I want to add 3 more points on advantages 1. It saves time and can do much more with a car if use effectively 2. Should buy a car at appropriate period of life when your children are with you. No point in waiting till retirement :-) 3. Particularly for ladies staying alone, car gives protection and confidence
Factors which are not considered: 1. Asset(car) price also going up over the roof nowadays. So investing the money now, and buying the car later may not be a money saving decision. 2. It also bring many more opportunities like easier and flexible maneuver within your workspace etc, which can increase time value.
I have 10lakhs in my hand... Instead of buying it in full cash payment mode.. I invested the 10lakh in Mutual fund SWP scheme and bought the car in EMI. Used the 1% SWP withdrawal amount every month to pay the EMI... At the end of 8 year EMI period, my entire capital of 10lakh remains the same and will use the remaining amount to pay of the balance loan amount
Just a thought what if you had bought car with cash and did sip of your emi amount? In your case you got the benefit of lumpsum investment at the year 0 itself but you had to pay loan interest. In the alternative case you had no obligation to pay interest but you were investing in sip over the years. I would love to know the results. Please provide more details or calculate yourself and tell me the result.
Living in a city centre, I have never ever been in a situation where I felt car would have made my life better. Cheap and well connected public transport plus cab services makes owning a car absolutely obsolete. Except for once a lifetime occurrence like 1st wave of lockdown, not having a car makes life only better.
50-30-20 needs drastic change, 40 basic expenses, 40- savings, 10-wants, 10-Misc Use car as pool share and make as little possible. My entire car loan was interest free because, interest was earned by car pooling. Buy a car even if it's depreciation asset, if your work , personal life needs frequent commute, travel places and enjoy. Cabs are no way cheaper...
Lol...then don't buy car and on one day when u r in urgent medical condition and need to rush hospital then best of luck booking a cab on oka and uber which shows 10 mins on the way or try asking neighbours and then u know the emotional quotient which these financial analysts bring into consideration
@@apurvpatil192 there are thousands of people who do that everyday but they don't call it depreciation asset...it helps when u need it without realising it many times.
One major correction: my annual income is 24 but i pay emi of 36k to gov for great services like Road, Education, Healthcare and awesome air. 👌 i cannot afford anything now.
Rachana… You forgot to mention 2 most important points 1) First learn to drive the car from a good motor training school. Learn on the same car which you plan to purchase 2) Get the driving license and become legal. Having a driving license and knowing how to drive are two different things in India
Mam, Similarly we would love to see a video more on "How/When to buy your first Rental Property or things to consider when you are building your first ever home?"
Very good video Maam . Sometimes for some individuals the passion takes over sense . It’s all about the passion and the memories they make with machine.
In general most car are depreciating asset. But there are definitely few which hold very good value. Club the cab expense and and resale these few cars command one might end up net positive even after owning the car. My only problem with new age excel savvy financial experts is that they miss out many non quantitative benefits.
Buy car when you need it, don’t listen to people suggesting buy/not buy. If your travelling need fulfilled by public transport,shared travel, private cab services then it’s useless to buy/lease car. But many times car becomes need let’s say when you have baby or you often visit to places with low transport options. In that case all the investments related advices are not relevant.
december is ideal month because companies want to clear stock of cars because in january they want to start production for that year and increase price. however january is not ideal time because price goes up and generally u might not get good deals so u have to be careful
it is great time to buy now...retail investors will not have conviction unless Nifty is again above 18,000...then, the risk-reward ratio will not be favourable...retail investors are always late...valuation is reasonable right now...commodities have already steeply corrected...impact will soon be seen on food inflation, consumer price index, producer price index, etc....we should use the dips now to accumulate some quality stocks like Fiem Industries, Tube investments, Lancer containers, GNFC, etc.
I have a question. If someone like me who cannot drive a car, but planning to buy one in near future assuming all quantitative factors and qualitative factors (that you mentioned), then should I go for buying? or Should I think of buying a 2nd hand car for initial period? or should I just focus on learning the same fully before buying the one? I think this angle , with risk analysis and Pros & Cons of every option, will help more to the people like me.
Bro learn Driving first, that's what you will have to consider first. Being a Beginner, I will suggest you. Just consider if you want to. Buy a new Car itself, it will cost you less maintenance than a second hand car. If you have family of more than 4 members than consider a SUV, else go with Hatchback or Sedan itself as a first car. Also ask the concerned sales person in detail about maintenance of the car beforehand so you don't feel it expensive to maintain. Always ask for a Long Test Drive coz you can feel if it satisfies your requirements. Then buy that car you wish to. All the best and Happy Motoring.
Many of my friends and family members have bought expensive cars than they can afford... Mainly to show others...now they have lost their financial freedom and are struggling...most of them would drive car on very rare occasions. Unless your business depends on it, car is just a liability. A good second hand car worth 2-4 lakh would do the job just fine. Top of that, our road and traffic conditions are so amazing that we can rarely enjoy driving a good car.
Straight philosophy is while you are young buy a car. Enjoy the drive. Rather than getting old and then not having the physical fitness to drive for long distances
Hi Rachna, Great video ! 👍 However I suggest you to include the aspect of existing liabilities in terms of loans (personal /educational / home) while making a decision . This could help in guiding youngsters especially those who have just graduated and started their professional journey
Hehe...Firstly, thanks ma'am for such an insightful video..I really loved it....Now Just something what I observed. Using the CARR i.e. 30% in wants rule means you won't be spending anything big in your wants for that particular month han! (May be for 4 years of EMI, ignoring the income growth for once). You've already reached the limit of WANTS criteria by paying Car EMI...hehe so dear fellows please do consider this also before getting excited! I also got excited for once but then I realized this🤣
I will make it more simple, purchase the car of value of 6-7 months of income, if monthly income is 1 lakh go for 6-8 lakh car value, if 2 lakh per month go for 12-16 lakh car, down payment n all decide based on what you are saving.
Ma'am, Mental Piece is over and and above all the formulas, with current trends of NASDAQ and NIFTY, looking at the no. of layoff's even by companies like Tesla, [the more higher the down payment = the more secure the future one can have] Also isn't it always better to have same amount of investments in SIP with same amount of vehicle loan EMI to eliminate the finance cost?
Buying car early is better because interest you pay is almost equal to inflation nowadays. If you're buying used car it actually is not a depreciation but break even.
I observed you are making videos mostly when you get any paid promotions . Good marketing skills. Generally in the videos you promote companies who pay, promote your courses and promote your old videos. This is how marketing should be done.good job.
I think this is not the correct approach. There are two ways to buy anything. 1. It improves your productivity or cuts costs in a way that it more than makes up for whatever you would be doing if you do not buy it; and 2. The cost of the thing is so low that you would not even feel it (like it is okay to buy an egg roll if you want it, you don't have to do accounting for that). In the case of a car, method 1. involves comparing the cost of owning the car and running it compared to whatever you would do otherwise (like Uber) or if it would improve your productivity appropriately (for example, where Uber is not available and you would lose time taking the bus). Method 2. means you are so rich that you cannot even notice the cost of the car (it is like buying an egg roll for you).
1. Buying a car should not be thought of investment or luxury spending. 2. Buying a car or buying a stock or saving in bank argument doesn’t make sense. Food you eat becomes shit, so will you stop eating ? If you want it? need it ? go ahead. 3. Be it person earning 5 or 50 lacs, any good deal in used car market should be considered. 4. All your investment has a goal, if your goal was to buy car and you have money. Go ahead. there is nothing right or nothing wrong. There is no perfect flow chart else everyone would follow it and no one would have watched this video.
You gave good decision making factors to consider before buying a car, but trust me people earning less than 6LPA are having cars now. They are ready to pay for Convenience sake and Cars price are going above Sky now. It's better to buy a car if purpose is necessary and pay for the convenience. I am an Entrepreneur, I bought Fortuner now. I have money to pay Hot Cash and buy it immediately but still took loan coz I plan everything properly and my decision don't make me bankrupt and suffer. When you plan properly and good in decision making, these factors are nothing to consider. Just go with the flow and buy the car and create memories with your family.
Vikas bhai ko dekh ke car purchase karne ka Dil Kiya. Ma'am ka video dekh ke Dimag ne plan cancel karne ka decision liya. Thanks to RUclips for suggesting me this video before I went to the showroom for my advance payment. 😕😕😕 Sorry @Mahindra
My thumb rule is don't take any Car loan but financed it from your savings...go for car when u have your own house / flat & your housing Loan should be just 20% of it's realisable value of that house/ flat....always be conservative in purchasing such depreciable assets....however, if your networth more than Rs 5 cr , then go for car...again, without car loan
The economic hardship, unemployment and loss of jobs caused by covid is enough to push people into financial venture's. Am taking a trip into investing because I've lost so much during pandemic and post pandemic..
@@thomascastillo1661 You are definitely right. Crypto related investments are super profiting, it's where I've earned the most gains from amongst all investments.
A lot of People are hesitant to invest in cryptocurrency due to the current level of unprofessionalism, but this sounds awesome. Thanks for the recommendation..
Just to add one more point here: How about Car lease policies which companies provide where complete Car EMI will be not taxed at all. Road Tax and insurance will be borne by company itself.
Not a CA , but I went for plan C . I'm an MBA 🙂, so first I invested the entire amount for car . And then bought the car on loan at 20-4-10 rule . It did(in the pas tense ) exceed the "10" part by roughly RS 2800 .
Everything which ma’am has told is correct but everytime its not about analysing what is the exact time…If it is satisfying you then its a good decision
Hi guys there is another aspect as well, which is depreciation of dreams. I am not against savings but dont forget to buy something which you like. consider gifting something for yourself sometimes & enjoy life
Such a great explanation by you ma'am. Really needed this suggestion and got this video at right time as i was planning to save for buying a car in near future waiting to see more such informative videos.
Great video mam, my calculation is bit different, If person earning 10 LPA, then he can afford car of 10 Lack price, on 5 year emi option. same for 10,15,20,25 LPA considering 20% down payment. Suppose take example of Tata Nexon diesel Car Value : 15 Lacks Approx Diesel price : 110 rs Car mileage : 20 kmph 5.5 Rs per KM Cost of fuel For 1Lack KM = 5.5 Lacks + Maintenance 1 Rs per KM = 1 Lack +Toll approx = 50k - 1Lack + Interest on EMI = 3 Lacks Approx + Insurance 12k per year for 5 year = 60K Total = 11 Lacks approx, except car value i.e. If you want to own 15 Lack Worth Car you should atleast have 25 Lacks To Run that car for 1 lack KMs. New Car is good option if monthly running is 2000 KMs, nowadays even second hand cars are not that cheap either, so you can get around 50% cost of car. at the end Car is like second home, this financial calculations do not make sense, at the time of crisis when actually vehicle needed, Go for new car if you can afford, or buy second hand car of good condition at first.
ಹಾಯ್ ಮ್ಯಾಮ್ ನನಗೆ ಮಾರ್ಕೆಟ್ ಅಂದ್ರೆ ಏನು ಗೊತ್ತಿದ್ದಿಲ್ಲ ನಿಮ್ಮ ವಿಡಿಯೋಗಳನ್ನು ನೋಡಿದ ಮೇಲೆ ಇವಾಗ ನಾನು ಕೂಡ ಟ್ರೇಡಿಂಗ್ ಮಾಡ್ತಾ ಇದೀನಿ ಧನ್ಯವಾದಗಳು ಮ್ಯಾಮ್ ನೀವ್ ಇದೇ ತರ ವಿಡಿಯೋ ಮಾಡ್ತಾ ಇರಬೇಕು 😊💞
If car value is 100 Down payment will 20 loan amount 80 Emi (interest ignored) 80/48 month 1.67 which is 10% of salary then 100% salary will be 1.67*100/10=16.7 Then car value is equal to six month Salary.... 😊😊😊♥️♥️♥️ Mam I love your content ...and way of explanation and your example in a very simple language...great job...👌👍
In India like own house, car also also is an emotion and one should not go in such deep analysis what you shown in your video, if you really want to buy and can afford with taking care of your needs and savings then go for it. Everything doesn't need such in-depth analysis always.
Mam you should have mention annual income after taxes as most people will take annual income as CTC which would be way beyond the real number as 20%, 30% as tax would already be deducted.
Wonderfully explained maam thanku sooooo muchhhhhh💫😊. unlike others u also gave positive aspects , otherwise RUclipsrs suggest dnt buy a car .it really demotivates us who are really in need of car
Here is method: 1. Be a super productive and make 2 Cr in 2 to 5 years. 2. Save 1 CR in Bank and Monthly 2L in Index funds, and 50L in All Weather fund 3. From your first 1 Cr you will get monthly 70K save that money or start the Car EMI of half of that amount. 4. Make your money works for you and Enjoy the car.
To watch this video in Hindi : ruclips.net/video/Fu3ATkGlH6s/видео.html
I bought my first car when i was 25 years old. Of course no idea what’s the thumb rules and all. I dont know if i did did wrong or right. I am 32 now I am glad I bought it that time. 7 years were fun wonderful. I took my parents to many places. I never let them take any auto bus train . convenient all times. My mother passed away this year. If i could have ever waited for right time to buy car those glorious pride in mom’s eyes could have been missed. Just do what your heart says. I am from middle class family. I do know it is depreciating asset. But remember you pay premium for convenience on any items your purchase. I have seen people dont eat out side god don’t go movies. I have seen people who do. Guess what both are gonna die one day. Remember to save for future and at the same time also taste the materialist world.
Edit: I bought my second car in 2023 Tata Harrier. Feels like top of the world. Dad is so proud as no one from my family ever bought a SUV.
🫵
I have saved this comment so that it will inspire me
Right, man
I agree 👍
Best response. I bought my car at 25 too even though I paid 30% of my net salary as EMI. I was able to get my grandfather sit in it and take him for around my native place. I lost him in less than a year's time. All rosy stuff these youtubers talk are very idealistic and even might not best suit them! Follow your heart and little brain will work most of the time.
Even if you always invest in appreciating assets and watch your money grow, it can give you a feeling of satisfaction and peace, but to enjoy your money, it has to be spent on depreciating assets.
Always remember, you're not gonna live forever. Some things can be enjoyed only till you're young. 🙂
Right. It's all about balance.
Invest some, spent some to have that balance of satisfaction,peace and enjoyment!
Well said
Very well said. We should understand the value of a thing. A harley Davidson will no value to a 60year old person but will mean the world to a person who have bought it in their late 20's from their own money
Correct bro.. many people ended their life in mid due to corona .. every time .. every penny is imp think, spent and enjoy
Nowadays there is a trend going on in RUclips shorts
Everyone is a finance influencer with the same dialogue
My formula is simple. I invested every penny in mutual funds. Created a good basket. Now I have booked 2 BHK. Will buy four wheeler next year ( no priority) and will start exploring India and world in coming years. (without touching my core portfolio)
Which mutual fund ?
Which mutual funds
@@jagandas8322 so many schemes. You can choose nifty index fund, flexi cap fund, if you can wait more patienly then small cap and / or infotech sector fund. Please don't stop investing until you reach your dream corpus
@@rahulkulkarni7467 how is etfs compared to mutualfunds
Masttt plan h... bhia itna kya calculate kr raha life ko
Rachana, as always, very crisp explanations. Keep going.
I want to add 3 more points on advantages
1. It saves time and can do much more with a car if use effectively
2. Should buy a car at appropriate period of life when your children are with you. No point in waiting till retirement :-)
3. Particularly for ladies staying alone, car gives protection and confidence
Appreciated.. Thank you for your feedback.
Factors which are not considered:
1. Asset(car) price also going up over the roof nowadays. So investing the money now, and buying the car later may not be a money saving decision.
2. It also bring many more opportunities like easier and flexible maneuver within your workspace etc, which can increase time value.
True after BS6 emission norms, the rate at which car prices are going up is more than the returns on FDs.
Very true
I have 10lakhs in my hand... Instead of buying it in full cash payment mode.. I invested the 10lakh in Mutual fund SWP scheme and bought the car in EMI. Used the 1% SWP withdrawal amount every month to pay the EMI... At the end of 8 year EMI period, my entire capital of 10lakh remains the same and will use the remaining amount to pay of the balance loan amount
Partially wise but you are disturbing the compounding effect
He's getting a car with that compounding @@RishiSharma-ti4bt
Meanwhile inflation is laughing at the corner😂
Just a thought what if you had bought car with cash and did sip of your emi amount?
In your case you got the benefit of lumpsum investment at the year 0 itself but you had to pay loan interest.
In the alternative case you had no obligation to pay interest but you were investing in sip over the years.
I would love to know the results.
Please provide more details or calculate yourself and tell me the result.
Living in a city centre, I have never ever been in a situation where I felt car would have made my life better. Cheap and well connected public transport plus cab services makes owning a car absolutely obsolete. Except for once a lifetime occurrence like 1st wave of lockdown, not having a car makes life only better.
50-30-20 needs drastic change, 40 basic expenses, 40- savings, 10-wants, 10-Misc
Use car as pool share and make as little possible. My entire car loan was interest free because, interest was earned by car pooling.
Buy a car even if it's depreciation asset, if your work , personal life needs frequent commute, travel places and enjoy.
Cabs are no way cheaper...
Could u explain further
Have u shared with friends or family
How u pool shared explain
Best loan is no loan for a depreciating asset.
Lol...then don't buy car and on one day when u r in urgent medical condition and need to rush hospital then best of luck booking a cab on oka and uber which shows 10 mins on the way or try asking neighbours and then u know the emotional quotient which these financial analysts bring into consideration
@@livestyle5527 I bought car in cash. Speak for yourself.
@@apurvpatil192 there are thousands of people who do that everyday but they don't call it depreciation asset...it helps when u need it without realising it many times.
@@livestyle5527 It is a depreciating asset. Why did my statement bother you?
It was not targetted towards anyone.
Eh second hand prices of cars are seriously high now. A car 3 years old still goes at almost 70% of the price
One major correction: my annual income is 24 but i pay emi of 36k to gov for great services like Road, Education, Healthcare and awesome air. 👌 i cannot afford anything now.
LoL .. truth
Don't worry, this formula is stupid.
@@sar3388 it is sensible.
Spammers are replying on literally every comment in this comments section... Hope you will take an action before someone falls in to their trap. 😐
Rachana… You forgot to mention 2 most important points
1) First learn to drive the car from a good motor training school. Learn on the same car which you plan to purchase
2) Get the driving license and become legal. Having a driving license and knowing how to drive are two different things in India
😂😂😂
Epic!
🤣🤣🔥
Mam,
Similarly we would love to see a video more on "How/When to buy your first Rental Property or things to consider when you are building your first ever home?"
Thank you for your suggestion will try to bring it up soon.
Or also how to plan a foreign trip!
@@CARachanaRanadejai bhim
That is how she bought new car by promoting sponsored videos by trapping new retail investors. She's here to make herself rich not others.
Very good video Maam . Sometimes for some individuals the passion takes over sense . It’s all about the passion and the memories they make with machine.
Brilliant timing. I was trying to plan to buy one and I've found your video to be a lot enlightening.
Glad I could help.
My monthly income 9000... My dream car is on my phone gallery.. after watching Mam video I understood that I can only affort Cycle.. # go green,,,😃
In general most car are depreciating asset. But there are definitely few which hold very good value. Club the cab expense and and resale these few cars command one might end up net positive even after owning the car. My only problem with new age excel savvy financial experts is that they miss out many non quantitative benefits.
11 months ago Watching this video to Meeting you in person at seminar.. It was great pleasure to attend your seminar.. Truly Inspirational!! 👍
Buy car when you need it, don’t listen to people suggesting buy/not buy. If your travelling need fulfilled by public transport,shared travel, private cab services then it’s useless to buy/lease car. But many times car becomes need let’s say when you have baby or you often visit to places with low transport options. In that case all the investments related advices are not relevant.
This was exhaustive and crystal clear. Thank you for making it so easy to follow. Do make a video on when to buy a house on similar lines.
Thank you for your suggestion will try to bring it up soon.
Dude you are too good. Ppl don't even think like that remotely about things..
december is ideal month because companies want to clear stock of cars because in january they want to start production for that year and increase price. however january is not ideal time because price goes up and generally u might not get good deals so u have to be careful
it is great time to buy now...retail investors will not have conviction unless Nifty is again above 18,000...then, the risk-reward ratio will not be favourable...retail investors are always late...valuation is reasonable right now...commodities have already steeply corrected...impact will soon be seen on food inflation, consumer price index, producer price index, etc....we should use the dips now to accumulate some quality stocks like Fiem Industries, Tube investments, Lancer containers, GNFC, etc.
Ahh..comment section is soo interesting I had to rewind this video multiple times
I bought 11.5L car last year while getting 3LPA :)
I have a question. If someone like me who cannot drive a car, but planning to buy one in near future assuming all quantitative factors and qualitative factors (that you mentioned), then should I go for buying? or Should I think of buying a 2nd hand car for initial period? or should I just focus on learning the same fully before buying the one? I think this angle , with risk analysis and Pros & Cons of every option, will help more to the people like me.
Bro learn Driving first, that's what you will have to consider first. Being a Beginner, I will suggest you. Just consider if you want to. Buy a new Car itself, it will cost you less maintenance than a second hand car. If you have family of more than 4 members than consider a SUV, else go with Hatchback or Sedan itself as a first car. Also ask the concerned sales person in detail about maintenance of the car beforehand so you don't feel it expensive to maintain. Always ask for a Long Test Drive coz you can feel if it satisfies your requirements. Then buy that car you wish to. All the best and Happy Motoring.
Many of my friends and family members have bought expensive cars than they can afford... Mainly to show others...now they have lost their financial freedom and are struggling...most of them would drive car on very rare occasions.
Unless your business depends on it, car is just a liability. A good second hand car worth 2-4 lakh would do the job just fine.
Top of that, our road and traffic conditions are so amazing that we can rarely enjoy driving a good car.
Straight philosophy is while you are young buy a car. Enjoy the drive. Rather than getting old and then not having the physical fitness to drive for long distances
Hi Rachna,
Great video ! 👍 However I suggest you to include the aspect of existing liabilities in terms of loans (personal /educational / home) while making a decision . This could help in guiding youngsters especially those who have just graduated and started their professional journey
Thank you for your suggestion.
😂
Q: When Should You Buy Your First Car?
ANS: AS SOON AS YOU CAN !
गुरुपौर्णिमेच्या हार्दिक शुभेच्छा रचना मॅडम... तुमच्या मुळे मार्केट मधला प्रवास खूप सोप्पा झालाय माझ्यासारख्या खूप जणांचा...
🎉💕
👆👆👆 Thanks For Watching. Reach out to our Personalized Financial Coaching...
धन्यवाद 😊
Hehe...Firstly, thanks ma'am for such an insightful video..I really loved it....Now Just something what I observed. Using the CARR i.e. 30% in wants rule means you won't be spending anything big in your wants for that particular month han! (May be for 4 years of EMI, ignoring the income growth for once). You've already reached the limit of WANTS criteria by paying Car EMI...hehe so dear fellows please do consider this also before getting excited! I also got excited for once but then I realized this🤣
After watching ur video, booked a new car with 2Lac down payment 6L loan.
At right moment of my life you have uploaded this video...thank you so much Ma'am. Love your presentation and style of giving knowledge.
👆👆 Thanks For Watching. Reach out to our Personalized Financial Coaching.
Glad to know that. Thank you :)
Car is not a depreciating asset,
its a depreciating liability
I will make it more simple, purchase the car of value of 6-7 months of income, if monthly income is 1 lakh go for 6-8 lakh car value, if 2 lakh per month go for 12-16 lakh car, down payment n all decide based on what you are saving.
her looks n way of speaking is just like himanshi singh mam
This video came at right time when i was wondering to buy a car or not thank you RR madam
Hope it finds you helpful in your decision-making.
Ma'am,
Mental Piece is over and and above all the formulas, with current trends of NASDAQ and NIFTY, looking at the no. of layoff's even by companies like Tesla, [the more higher the down payment = the more secure the future one can have]
Also isn't it always better to have same amount of investments in SIP with same amount of vehicle loan EMI to eliminate the finance cost?
Buying car early is better because interest you pay is almost equal to inflation nowadays. If you're buying used car it actually is not a depreciation but break even.
गुरुपौर्णिमेच्या हार्दिक शुभेच्छा 🙏
ᖴeedback appreciated.⬆️
Wanting more info and insight?
WatsApp the number above,
Endeavour to reach out.
Rachana ma'am, you are awesome. Helped made my decision of buying a CAR more conscious in a good way. Thank you!
I observed you are making videos mostly when you get any paid promotions . Good marketing skills. Generally in the videos you promote companies who pay, promote your courses and promote your old videos. This is how marketing should be done.good job.
No one do free service....
ruclips.net/video/owA5JvHAk-0/видео.html
Above link will help you to understand who is the right influencer ...
If you are good at something never do it for free.
That is how she bought new car by promoting sponsored videos by trapping new retail investors.
I think this is not the correct approach. There are two ways to buy anything. 1. It improves your productivity or cuts costs in a way that it more than makes up for whatever you would be doing if you do not buy it; and 2. The cost of the thing is so low that you would not even feel it (like it is okay to buy an egg roll if you want it, you don't have to do accounting for that). In the case of a car, method 1. involves comparing the cost of owning the car and running it compared to whatever you would do otherwise (like Uber) or if it would improve your productivity appropriately (for example, where Uber is not available and you would lose time taking the bus). Method 2. means you are so rich that you cannot even notice the cost of the car (it is like buying an egg roll for you).
1. Buying a car should not be thought of investment or luxury spending.
2. Buying a car or buying a stock or saving in bank argument doesn’t make sense. Food you eat becomes shit, so will you stop eating ? If you want it? need it ? go ahead.
3. Be it person earning 5 or 50 lacs, any good deal in used car market should be considered.
4. All your investment has a goal, if your goal was to buy car and you have money. Go ahead.
there is nothing right or nothing wrong. There is no perfect flow chart else everyone would follow it and no one would have watched this video.
Car is a depreciating asset. But a sasta 2 electric wheeler should do. In today's age and time, we can make do with Ola, Uber, Droom, etc.
Excellent explained 👍
Thank you 🙂
Thanks rachna its just beautifully explained
You gave good decision making factors to consider before buying a car, but trust me people earning less than 6LPA are having cars now. They are ready to pay for Convenience sake and Cars price are going above Sky now. It's better to buy a car if purpose is necessary and pay for the convenience. I am an Entrepreneur, I bought Fortuner now. I have money to pay Hot Cash and buy it immediately but still took loan coz I plan everything properly and my decision don't make me bankrupt and suffer. When you plan properly and good in decision making, these factors are nothing to consider. Just go with the flow and buy the car and create memories with your family.
Hat's off to The CA Rachna Ranade
Rachana madam you give practical simple explanation related to money and finances.
God bless you
Vikas bhai ko dekh ke car purchase karne ka Dil Kiya. Ma'am ka video dekh ke Dimag ne plan cancel karne ka decision liya. Thanks to RUclips for suggesting me this video before I went to the showroom for my advance payment. 😕😕😕 Sorry @Mahindra
My advice. Don’t buy car on a loan. Grind it out, wait if possible . It will help you later. Avoid loans at all costs unless its an emergency.
It depends on various factors, if your age is 40 and if you can afford on loan, why not then.
Finally a sensible video
Great Madam its, very useful for everyone's.... Thanksgiving this knowledge.
My thumb rule is don't take any Car loan but financed it from your savings...go for car when u have your own house / flat & your housing Loan should be just 20% of it's realisable value of that house/ flat....always be conservative in purchasing such depreciable assets....however, if your networth more than Rs 5 cr , then go for car...again, without car loan
I don't want to watch the video but I know the answer
"When you want"
Invest in Bitcoin, Gold,silver, buy stocks, forex market, NFT's anything just invest and save yourself.
The economic hardship, unemployment and loss of jobs caused by covid is enough to push people into financial venture's. Am taking a trip into investing because I've lost so much during pandemic and post pandemic..
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@@thomascastillo1661 You are definitely right. Crypto related investments are super profiting, it's where I've earned the most gains from amongst all investments.
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Just to add one more point here:
How about Car lease policies which companies provide where complete Car EMI will be not taxed at all.
Road Tax and insurance will be borne by company itself.
Hi Rachana ma'am, Great video. Please make similar kind of video for first time house buying as well. That would be really helpful to us
Brother need 10k urgent bro please help
I will repay u
Thank you for your suggestion will try to bring it up soon.
Thanks a lot mam you are given excellent financial plan for car.
Not a CA , but I went for plan C . I'm an MBA 🙂, so first I invested the entire amount for car . And then bought the car on loan at 20-4-10 rule . It did(in the pas tense ) exceed the "10" part by roughly RS 2800 .
Everything which ma’am has told is correct but everytime its not about analysing what is the exact time…If it is satisfying you then its a good decision
Yes, qualitative factors are also important.
well explained video
keep up the good work Rachna
Thank you 😊
Hi guys there is another aspect as well, which is depreciation of dreams. I am not against savings but dont forget to buy something which you like. consider gifting something for yourself sometimes & enjoy life
Simple thumb rule : if you have twice money then buy it
Khup bhari... Exactly same way Home Buying varti ek video banava..
Such a great explanation by you ma'am. Really needed this suggestion and got this video at right time as i was planning to save for buying a car in near future waiting to see more such informative videos.
Great video mam, my calculation is bit different,
If person earning 10 LPA, then he can afford car of 10 Lack price, on 5 year emi option. same for 10,15,20,25 LPA considering 20% down payment.
Suppose take example of Tata Nexon diesel
Car Value : 15 Lacks Approx
Diesel price : 110 rs
Car mileage : 20 kmph
5.5 Rs per KM Cost of fuel
For 1Lack KM = 5.5 Lacks
+ Maintenance 1 Rs per KM = 1 Lack
+Toll approx = 50k - 1Lack
+ Interest on EMI = 3 Lacks Approx
+ Insurance 12k per year for 5 year = 60K
Total = 11 Lacks approx, except car value
i.e. If you want to own 15 Lack Worth Car you should atleast have 25 Lacks To Run that car for 1 lack KMs.
New Car is good option if monthly running is 2000 KMs,
nowadays even second hand cars are not that cheap either, so you can get around 50% cost of car.
at the end Car is like second home, this financial calculations do not make sense, at the time of crisis when actually vehicle needed,
Go for new car if you can afford, or buy second hand car of good condition at first.
Thank you so much for this video Rachana!
A very well thought video on car puchase decision. Thanks for creating this. Clarified a lot of doubts.
Glad you liked it.
Need a video like this for buying house or land
Shall try.
Thank u very much ❤ I have postponed my plan now 😅
Very good advice and new perspective
Glad you liked it.
So... I am gonna buy a car🖤🥂... Cheers
ಹಾಯ್ ಮ್ಯಾಮ್ ನನಗೆ ಮಾರ್ಕೆಟ್ ಅಂದ್ರೆ ಏನು ಗೊತ್ತಿದ್ದಿಲ್ಲ ನಿಮ್ಮ ವಿಡಿಯೋಗಳನ್ನು ನೋಡಿದ ಮೇಲೆ ಇವಾಗ ನಾನು ಕೂಡ ಟ್ರೇಡಿಂಗ್ ಮಾಡ್ತಾ ಇದೀನಿ ಧನ್ಯವಾದಗಳು ಮ್ಯಾಮ್ ನೀವ್ ಇದೇ ತರ ವಿಡಿಯೋ ಮಾಡ್ತಾ ಇರಬೇಕು 😊💞
@Rachana ㊉①⑥⓪①②⑧⑦①⑧⑦⑤ which number , i need some course details on f and o
@@prajwal6638 it's fake comment by spammers. Don't fall for it. Visit her official website for information
@Rachana ㊉①⑥⓪①②⑧⑦①⑧⑦⑤ frst number is 4?
u can watch srimanta finance kannada channel also
ಧನ್ಯವಾದಗಳು
If car value is 100
Down payment will 20
loan amount 80
Emi (interest ignored) 80/48 month 1.67
which is 10% of salary then 100% salary will be 1.67*100/10=16.7
Then car value is equal to six month Salary.... 😊😊😊♥️♥️♥️
Mam I love your content ...and way of explanation and your example in a very simple language...great job...👌👍
@Rachana ㊉①⑥⓪①②⑧⑦①⑧⑦⑤ On Which whatsapp number ...i have to send?...i did't get your point
@@himanshuverma3984 Thank you sir
@@himanshuverma3984 i also recognised that ...i was just passing my time .. 😀😀😀
@@bharatgupta5755 ha ha. It is a good idea. Irritate them till they quit their job as scammers
@@ajay316 😀😀😀😀😀😁😁😁
In India like own house, car also also is an emotion and one should not go in such deep analysis what you shown in your video, if you really want to buy and can afford with taking care of your needs and savings then go for it. Everything doesn't need such in-depth analysis always.
Very good explanation madam
Thanks for the guidance
Really great explanation ma`am👌👌
Awesome Maam. Subscribed!!
Mam you should have mention annual income after taxes as most people will take annual income as CTC which would be way beyond the real number as 20%, 30% as tax would already be deducted.
Super and educational explanation. Thank you
Thanks a lot madam
For always right direction given to students 🙏
After your video, I am getting recommendations for second hand cars 😅
Wonderfully explained maam thanku sooooo muchhhhhh💫😊. unlike others u also gave positive aspects , otherwise RUclipsrs suggest dnt buy a car .it really demotivates us who are really in need of car
Thank you for your feedback.
Starting🔥🔥
Hats off
@investaajforkal anant sir 😀
Thank you 😊
bhaiya aap yha
Here is method:
1. Be a super productive and make 2 Cr in 2 to 5 years.
2. Save 1 CR in Bank and Monthly 2L in Index funds, and 50L in All Weather fund
3. From your first 1 Cr you will get monthly 70K save that money or start the Car EMI of half of that amount.
4. Make your money works for you and Enjoy the car.
Kitna kama liya bhai😂 2 cr toh aise bolre ho..jaise ped se tod laaye insaan.
staying debt-free is the best way to stay healthy, have freedom and accumulate wealth.
Rachana: using examples of cars priced at 6,12,18 lakhs according to incomes.
Also Rachana: gives a link to almost unaffordable Mercedes Benz promo 😀😀
Simply mind opening vdo. Fantastic.
Hi rachna,
Great knowledge video
Aakhe khool di
nice video mam,
and here I was dreaming to buy Toyota Fortuner....
What is one going to achieve after saving most of the earnings and passing it to next generation one fine day....
Very impressive .. thanks for this video
Thank You 😊
Answer is simple. You buy one, when you need one and you can afford one. Either by cash or loans.
excellent explanation, thank you maam
Thank you so much for this video