Originally Posted by encounter007
Yes This is my first car and first driving also. I have planned to keep this car for atleast 4 years.
What you gain in paying 4% less interest , you will lose much much more in depreciation. Also for new car you will paying interest on 3 L while for a used car on 2L. Overall payment as interest will be less.
With 2 - 2.3 L you wilk get a pretty less old , less driven car, that too maybe still in warranty. Since less than 5 yrs, you will be able to get 0 dep insurance as well.
Do the maths since this will be your first car, first driving and you are on a limited budget. I have changed 7- 8 cars and the other than the alto in mumbai and the ritz now have all been used cars.