Your monthly salary, expenses and value of car when you bought it?
I am considering buying a car but haven’t decided the right budget for it yet. Wanted to know how much y’ll were earning and spending on other expenses at the time when you bought your car, as well as the value of the car itself? Additionally, if you can add the downpayment percentage, that would be like a cherry on the top.
Me and my wife were making 2.5L/month post taxes when we purchased my car. Expenses would be about 75k/month. I do not like loans. We paid the full value (~7L).
Have you decided the kind of car you need? Coupe, sedan, SUV? Look at safety features in addition to resale value and maintenance costs. I didn't spend an additional amount on Android screen etc. I purchased the variant with sensors, I think 4 airbags, good ncap rating and good suspension.
Car is a lifestyle choice. We bought our first car worth 7L when our combined earning was just 10LPA before tax. Now we have a suv - 27L.
My brother bought his first car worth 6L when he was earning 26 lpa + wife 12 lpa.
Buy depending on how frequently you travel. We do all our vacations by self drive and hence wanted a good car.
