Can I buy a car?
Can some experienced people who have owned car/s for years enlighten me with their reviews around quality of life, expenses, loan related to buying and owning a car. To be honest, I don't "need" a car, life's going without it. But I do "want" to have one. Also, I would appreciate suggestions on which car to go with in case you think I should buy one. For context, I live in BLR, 25M. Added income details below.
Software Engineering
SDE 2Small SaaS StartupBengaluru2.5 YoE
If you want a car, and you can afford one, it's a good enough reason to buy one.
Since you are asking the question, you know that it is a depreciating asset and will cost you additional maintenance.
Just figure when you can use it - weekend traffic is crazy, parking is difficult and Uber is not so irresponsive that it warrants a car. Yet, i feel safer and independent in mine.
My 2 Rs. I suggest you see your needs and pick one if you are going to use it. Because if you don't use the car, it will give you more trouble than if you use it regularly
Thanks. Can you elaborate the last part? Why would not using the car trouble more?
If a car is simply lying in one place the car degrades - rats may come and cut pipes, battery may drain, tyres need to be moved, people seeing cars in the same place tend to use it (they may put something on it). Someone may feel it's just lying there and attempt to steal spares (not trying to scare you here)
My point being that if you don't use it regularly, it may not work when you need it too because of the above reasons (and more)
Regular running ensures that these issues will not crop up.
Don't buy. Rent or use uber/ola.
I really wish this was a viable option. Normal Maruti Suzukis are rented for 25-30k a month, so I'll pay 30-40% price of the vehicle in an year and own absolutely nothing. Let me know if you know of a better deal. Ola Uber is a nightmare, atleast where I live.
The question should be “Do I want a car?” You can definitely buy one at the salary range you are at.
I have owned motorcycles all my life. Personal choice and passion.
I bought a car after marriage because we “needed” one.
Go for a pre owned hatch back in Bangalor from a reputed seller/ platform.
Use it for a couple of months. If you don’t like it resell it at a modest loss and consider it the price of indulgence.
Things to consider for a new car
- Down payment - 10 -20%
- Emis - variable
- PUC - annually
- Service - 5k-15k depending on the car/brand
- Fuel - variable
- Aftermarket additions - alloys, lights, wraps, etc variable
- Speeding and no parking challans - each to his own
- Tolls - FU