Buy when one has real need, not when it's for status. 
 Secondly, but when you have atleast 1.5 times surplus balance. 
  
 And then buy with CC, and then pay CC bill. You will atleast get 1 lakh cashback.

Data Analyst

Yes. If you buy a car for 10 Lacks. Some HDFC CC Provide 10% cashback. So you will get 1 Lack as cashback

Analytics Manager

I had 15 Lakh cash for buying a car, so I created a FD at 6.8% P/A 
  
 Took overdraft on the same FD for 7.8% P/A, you can avail 90%  
  
 Bought Car at 13 Lakh and paid almost 90% back as well to the OD account,  till now I have paid as of total around 45k as interest. 
  
 This Overdraft facility is great to avail a cheapest loan at 1%

Software Engineer

Go for a loan. And go for maximum tenure. And try the emi doesn't take more than 20% of your monthly salary  
  
 Saying from my own experience

Software Developer

Loan, and invest the same amount in MF or somewhere else.

Loan.. car is a depreciating asset and you can pay back with depreciated currency

Real Estate

Welcome to Personal Finance's Private Community

Should one buy a car with a loan or all in cash ?

Should one buy a car with a loan or all in cash ?- Grapevine

Hi, we are thinking of buying a new car in Bangalore and contemplating on whether to buy in cash or on loan. Considering the traffic conditions, we only want a small car like i10 or Tiago. We do have cash on hand to buy a decent hatchback or sedan upto 10L. It will not burn all our savings for sure. However, I have seen so many people still buying on loan even though they have cash.

Would be interested in knowing what makes more sense for others. Especially want to understand if there are other benefits of loan apart from credit building. Other suggestions on car models are also welcome! TIA.

Buying a car on Cash or Loan?

Cloud Consultant

Given all the variants in the market for both Creta and Seltos, how did you decide which model to choose from. 
I really don't want to go with the manual when we have all the more comfy options in the market, can you help me decide which one to go with and how you compare them and make an informed decision. I am also not sure whether to go with kia or creta.

Choose between DCT vs CVT vs AT

Hi All,
We are planning to buy a builder floor flat(reason : we get more land share than buying an apartment). Budget within 1.5 to 1.8 cr
My salary : 44lacs
My husband's salary: 64 lacs
We both have purchased two houses in our home towns in tier 2 cities. Together we both have a loan of  approximately 44 lacs. We are not closing it because of tax benefit and also those loan accounts are OD we are getting approximately 7% interest.
Till now we didn't have a plan of buying any property. We just had a plan of doing sip in mutual funds which will give more returns. But now we are feeling like buying one. Because both of us are doing wfh and our daughter started going to school. Parents are also staying with us. 

Is it a good idea to buy a house or stay in a rented property, have some savings for the next 10 years or so and buy with full cash?

Need suggestions on purchasing a property

Software Test - QA

Hi everyone, I am a new professional in the workplace (~2 years), and for my own independence and various other factors, I need to buy my own car. I already know the basic specifics of my car choice; I know which car model + variant to buy, along with the Showroom dealer and approximate on-road price of my choice of car.

As this will be my first car, I need to buy this with a loan. If it helps, my loan financing should be from SBI and I am choosing a Maruti Suzuki Nexa car.

I am looking for advice on how to go about financing this car payment via loan, i.e. what are the things I need to keep in mind in terms of the technical details of opting for a loan, whether I can directly opt for a loan with the help of the car dealer or keep the car purchase and loan sanctioning from the bank separate, down payment, etc.

Any advice is greatly appreciated!

First Car Advice: Financing

Systems Engineer

What do you think of this split ? What would you change?

Living in BLR , earn 43LPA, sharing how I spend my money

Engineering Manager

Senior Product Manager

Guys,
I have a monthly salary of 40000 rs(8 years in IT) and I am thinking about a switch and learning for it. My husband joined a company on Feb 5 and his monthly expected salary is around 65000 rs(5 years in fincrime).
We have around 5-6 lakhs debt, which we are repaying based on requirements. We are seriously thinking about buying a car as we have a 10 month old baby and travel is difficult without a good car, hence we are planning to buy kushaq ambition automatic (~18 lakhs).
We don't have money in hand thinking about taking a loan of 12 lakhs and rest by pledging gold.

Do you think we made the right decision to buy a car now. We have a 15 year old Alto now.

Is it advisable to buy a good car at this point?

Data engineer

I recently came across an idea/perspective about debt and it seemed to bring me clarity among discussion & fights online about credit instruments like credit cards etc.

Here it is:

Debt is a chainsaw tool, it is a dangerous tool. But it can be incredibly useful if used appropriately (like in cutting down trees) but can do incredible damage if it's misused.

Let me elaborate with couple of examples:
1. Credit card is dismissed as a dangerous tool by many and traditionally, people are hesitant to use it. But if you use it and pay it off in full every month, you can earn back 2-5% of your purchases, offsetting inflation partly. But if you use it as a bridge to pay for your expenses until you get paid or use it to take on debt or buying things that you cannot afford, it will damage you. Understand the tool and use it to your advantage.

2. Many people need a vehicle for their job. Lot of times people need to take debt for this. And it makes sense as you need to go to your job to earn money. Purchasing a good value for money vehicle is the choice, but instead of that many people buy what they can't afford by extending their loan tenures and spending a huge chunk of their income. Again, here debt isn't the problem, how you plan to use it makes all the difference.

I came across this idea when there was a lot of twitter chatter between influencers about good/evil of credit cards etc. In conclusion, credit is just a tool and by itself, it's neither good nor bad. Understand the tool and use it to your advantage or if the tool isn't for you, then just ignore it. Don't let tool make & control your financial decisions

A different perspective about credit/debt

Is it worth buying 23 lakhs creta? Need suggestions please

Growth Manager

Hey all! Planning to get a car just for the fun of it. Any quick thoughts on the average percentage of net worth people spend on cars? 🚗💰 Thanks!

Car Purchase Advice: What % of Net Worth is Standard?"

Assistant Manager

I am from Ahmedabad. Till now me and my family was living in a rented house. Now I shifted to Hyderabad with a very good package. Now I am planning to buy a home in Ahmedabad so that my family can live in our own home 🏡. 
Should I invest 70-80 lakhs? Any suggestions.

Should I buy Home?

Welcome to Indian Startups's Private Community

So I withdraw 1L in hand every month and saves around 50-60K per month. I am married with no kids yet and my age is 28. 

I do not have any responsibility. I do have one loan for which I pay 5.7K EMI.


Would you suggest me to buy a car? If yes then Which one considering my finances.

Should I Buy Car?

Data Scientist

My Bank BOB is not giving me personal loan they are saying that as if now you are not eligible for this benifit. 
So where should I go for this ? Plz recommend any good other bank or fin-tech.

Should one buy a car with a loan or all in cash ?

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