What Car Should Be Bought at What Income?


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Hi,

I am gettint 16 lacks gross salary annually, I am single probably will be married next year. As of now I am having only personal loan of emi 10k. Please let me which car I am eligible to buy. I want to buy house also worth 50-60 lakhs in Bangalore. I normally won't use car for city rides I take out when going to native or long drives. Kindly suggest me some good affordable car.i had alto but sold it off due to rusting issue in car.
 
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^^ Since you talk about buying a house and not using the car for city ride as well, I don't think buying a car makes sense for you. Why not keep it as an investment and use options like Zoomcar for your long distance travel. This way you don't have the hassle of EMIs, maintenance and so less worrying!
 

kkn13

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I thought about the same. Will look for lower running vehicle. On another note, this particular city has single moustache type chrome grill. Isn't it supposed to be three slate chrome grill for 2009 City?



3rd gen is the one with three slate chrome grill, right? And newer one is 4th gen. Please correct me if I am wrong.
I know this is a very late reply but 2010 facelift (they added alloy wheels, tweeters in the introduced V variant, not present in the launch models of 2009) got single slat grille as added accessory for a fee
 
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I know this is a very late reply but 2010 facelift (they added alloy wheels, tweeters in the introduced V variant, not present in the launch models of 2009) got single slat grille as added accessory for a fee
Yeah I found that. But dropped the plan of buying used City. It's much of a hassle!
 
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Hi,

I am gettint 16 lacks gross salary annually, I am single probably will be married next year. As of now I am having only personal loan of emi 10k. Please let me which car I am eligible to buy. I want to buy house also worth 50-60 lakhs in Bangalore. I normally won't use car for city rides I take out when going to native or long drives. Kindly suggest me some good affordable car.i had alto but sold it off due to rusting issue in car.
You can look into Jazz petrol,New Swift dzire,I20 diesel,polo diesel ( 7lac to 9 lac budget). This will be good upgrade for you since your old car is Alto. I think you can buy only flats for 50-60 lakhs in bangalore not Indiviuda house.Indiviudal houses are too costly here. If you look to buy both flat and car . Then you can also look tiago under 6 lacs budget.
 

kkn13

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You can look into Jazz petrol,New Swift dzire,I20 diesel,polo diesel ( 7lac to 9 lac budget). This will be good upgrade for you since your old car is Alto. I think you can buy only flats for 50-60 lakhs in bangalore not Indiviuda house.Indiviudal houses are too costly here. If you look to buy both flat and car . Then you can also look tiago under 6 lacs budget.
Agreed however Id say Honda, Maruti,Hyundai and Toyota are better buys for him because they are more tried and tested, better resale value for future
Imagine if he buys Tiago or Polo, good cars but there is higher risk attached financially, and later has to sell it for whatever reasons, he wont get good resale value and given his usage, it would be sacrilegious and he would be stuck imho
Also VW has much higher maintenance costs than the competition if unforseen maintenance comes about

Id say if he goes for flat+car, its best to stick with Honda, Maruti,Hyundai and Toyota from a financial perspective even if initial costs (purchase) are higher
 
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No salaried individuals are buying flats/houses as an outright full cash purchase IMHO. Every body is going for home loan emi only. OP thinks he is affordable to buy 50 lacs property and car both. Since his old car is an alto, the new car should be an upgrade of his alto. We cant suggest him another alto , kwid or nano . If OP wants to buy 50lacs property he should have 12 lacs atleast and remaining will be on home loan. He should have another 2 lacs for car and remaining will be car loan. He is the perfect judge of his current finance. So that 40k on home loan emi and another 10k on car emi from his monthly income.It is not an impossible task.
 
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Hi,

I am gettint 16 lacks gross salary annually, I am single probably will be married next year. As of now I am having only personal loan of emi 10k. Please let me which car I am eligible to buy. I want to buy house also worth 50-60 lakhs in Bangalore. I normally won't use car for city rides I take out when going to native or long drives. Kindly suggest me some good affordable car.i had alto but sold it off due to rusting issue in car.
What do you really want to buy: home or car or both? Car is depreciating asset however home/flat is not. Looking at your salary, I wouldn't suggest you going for both unless you've strong financial support or would like to have working spouse. Even you need to spend few lakhs on your marriage from your side right? [:D] As you're not going to use car for city driving better to go for home.

Start searching for house with pre-launch offers. This will give you enough time to build some funds at own level till it is ready to move-in and you wouldn't require to go for home loan quickly or start paying EMI. Importantly, you will take less loan from bank.

I had followed this and don't regret it. I choose buying a house over car.
 
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i bought my grand i10 petrol in 2015 which was nearly 50% more than my annual salary for a 3 year loan. Since am single and live with parents i have managed it ok and no major expense on car too except fuel bills. Owning a car was a dream and thankfully it happened. I had initially planned for a Alto k10/celerio but then i liked the grand i10 too much. made the choice to go a segment higher than keep thinkng of a upgrade within a few years of buying the entry level ones.
 
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I met a client of my mom today and that guy recently lost 3.5 crores by getting frauded by a man and now he does not have a penny his monthly income used to be around a lakh from his business and recieved rent and owned a fortuner but now he is broke and he is doing a job for 35k and is married and has two kids and is in his early 40s and he is paying rent, fees of two kids and other daily expenses. He wants to own a pre owned swift which is costing anywhere near 2.5 lacs to 3.5 lacs he maybe opting for a loan but i suggested against it and advised to buy an Alto instead which will cost him anywhere near 1. 5 lakhs according to me and he even can use cng as he is in NCR but he told me he tried that but could not drive it properly as the Alto being a small car and said he will buy a bike instead and maybe borrow a car from someone if needed. Please advice me guys what to advice that man
 
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I met a client of my mom today and that guy recently lost 3.5 crores by getting frauded by a man and now he does not have a penny his monthly income used to be around a lakh from his business and recieved rent and owned a fortuner but now he is broke and he is doing a job for 35k and is married and has two kids and is in his early 40s and he is paying rent, fees of two kids and other daily expenses. He wants to own a pre owned swift which is costing anywhere near 2.5 lacs to 3.5 lacs he maybe opting for a loan but i suggested against it and advised to buy an Alto instead which will cost him anywhere near 1. 5 lakhs according to me and he even can use cng as he is in NCR but he told me he tried that but could not drive it properly as the Alto being a small car and said he will buy a bike instead and maybe borrow a car from someone if needed. Please advice me guys what to advice that man
First make all out effort to recover atleast part of 3.5 crores. I am sure such a big fraud would leave lot of traces for police to follow. Regarding the commuting vehicle, bike would be better as he can buy new and can have have lower maintainance and running cost than a car.
 

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