I am not sure if this has been already discussed, but for new car buyers especially first time buyers, beware of the 13th month bill.
Most new cars have 8000kms/ 1year service interval (for oil change etx)
So Assuming this Feb you bought a new car, Next March will be an expensive month for the following reasons:
1. Insurance Renewal
2. 1st detail car service
3. Your regular emi
4. Plan well or this expense might clash with rest of your commitments.
Most entry level hatchbacks are available for EMI of 7000/month
So the 13th month, you will have approx 7000 - EMI
5000 - Car Service
10000- Insurance renewal
3000 - Fuel
Total - 25000/-
Although this is only once a month, the issue is you are used to spend only 10K/month, now the sudden hump in your bills will be tough to tackle.
I personally know a friend who could have gone for a wagonR new (top end) instead preferred to buy only a swift - as it looks better (although he cant afford it), I had advised him of the 13th month issue, which will again repeat on 25th month.
He was used to paying 10K EMI+3K fuel
on 13th month it was - EMI+FUEL+INSURANCE+SERVICE = 33K
That's double of what he can normally afford to spend on a car, ended up swiping credit card & then converting that excess bill to an EMI.
When travelling is not part of your job, when you fuel from your pocket, You have other priorities in life & car is not on top of list - choose wisely.
Buy a car that you can manage easily and keeps you happy for atleast a few years.
There are so many Creta/ Ecosport/ XUV with less than 10k kms on odo for sale, primary reason (as per my conversation with olx sellers etx)
1. I dont use the car that often (I dont see why I need such an expensive ride)
2. I can save on EMI, anyway company offers cab - to & fro (I realised my EMI's are twice of many people's rent)
3. Parking issues = mostly fake
4. Going abroad = If half the owners were really going abroad, you would find no traffic jam in Bangalore.
There's a lot that goes into owning a car, dont go by just EMI & downpayment, if you go 1step higher than what you should ideally buy, be prepared for.
- Higher Insurance premiums
- Usually (not always though) higher fuel bills
- Even simple things like mirrors will cost 8K for new cars (even if you claim insurance, you still got to shell 3K from your pocket)
- Accessories cost too is high
- Most new/ 8L - 10L cars run on Synthetic oil, so the oil change alone will land you a 4000bill
- If you are caught in a Creta for signal jump, do you think the cop lets you go for 100/- ?
- In case of out of court settlements for major accidents etc, the bigger or costlier the car you onw, the higher the victim's deman/ eventually payout.