NEVER take a CAR LOAN #shorts

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[rushiashtikar]

Using your savings to buy Car is the dumbest advice.
Keep your savings and investments for rainy days and retirement. Buy Car on loan.

[nigamjogadia]

Don't buy car on loan.... don't purchase house...live on rent....rent a car..in the end own nothing....by giving these kind of advices most youtuber influencers buying everything in life they want...car home etc....

[truthShallPrevailRRVS]

This is applicable for a VERY small percentage of people.
Let's say car is 10L
Type 1 - People who have a lot of money (20L+) mostly wouldn't consider a loan and the advice is applicable to this type of people who are considering going for a loan
Type 2 - People with just enough (10-15L) will want to hold on to the remaining for emergencies
So these will definitely go for a loan
Type 3 - People with not enough money (2-5L just enough for a down payment) so buying in cash is not even an option or they'll have to wait for 3-6 years to earn the remaining and that would be chasing a carrot on a stick because the cars would then cost 12-15L

Talking about home loans the downpayments themselves will be worth buying 4--5 cars so only Type 1 people (very small percentage again)

[AuguryOmen]

Buy cars/bikes dont listen to these fools as time wont come back, keep investing is not a good advice at all. At 50 you wont even need a car coz your money will now be your children and you will be going without car for your life. Enjoy life

[TheSandipDev]

Very bad advice. If you have that much, just invest it. The return on investment is way higher generally than the car loan interest rate.

[kbmadon]

100% agree. Buy 2nd hand when younger and use the extra money for investments that will build your wealth over time. Focus on BEING wealthy instead of APPEARING wealthy. I followed this rule and drove old used cars costing 2-3 lacs in my 20s and early 30s while my friends were in fancy new sedans. Now i'm 37, drive a 30 lac car fully paid for, own 3 properties, have great savings and 0 loans/debt. Oh and my wife and I are normal corporate employees from middle class families, not rich business people and we dint take a single paisa from our parents after the age of 18.

[falcontrader]

current intrest rate of gold loan 8.5 %
if we buy a 12.5 lakhs worth gold (200gram) put into bank . for a month u need to put 6400 intrest per month .total 12*6400= 76000 for 1 year. total ex 7 years 7*76000= 532000 intrest you need to give for the loan but for the car loan 3.5 lakhs intrest without paying 12.5 lakhs before. so car loan is good compared to gold loan.

[RahulKumar-mryb]

As a influencer you should be responsible enough. Many people are there who can earn more on their savings than they pay on their loan. You are sharing half knowledge which is more dangerous than having no knowledge

[roronoazorro]

I don't have a car but I have a KTM Adventure 390 motorcycle of 4 lakhs that I bought in 2023 and I bought it in full cash. The sales guy was forcing me too much to get the bike on loan, He started saying the same thing what most of the people are saying in the comments(Things like you can save the money for emergency etc.) But I told him that it was my dream to buy and adventure bike and do long rides and I have been saving money since the year 2016 when I was in my second year of college. It was my dream that I will buy my adventure bike only in full cash otherwise I will not buy. I could have easily got that bike in loan but still I waited for so many years to fulfil my dream. Already did 3 long trips with that bike and don't have any tension of EMI. Same thing I will do for purchasing my first car. I have done an SIP for 30k with which I will buy a car after 5 years that too full cash. Fulfilling your materialistic dreams without taking any loans is the best feeling.

[Geniusingh]

Bhai ka logic

Baccho ko school mat bhejo
Car mat lo
Ghar lete raho

Jeevan mein har cheez ka balance hona chahiye which is imp

So i bought a new suv and yes its on loan but i dont have any home rather i have equivalent or more equity investments…now i could buy that suv that i love on cash as well but i would rather make 15% on my equity investments rather than putting entire thing on cash…so if u love to drive and are a traveller, there is no harm in fulfilling your dreams - that is what is most imp for anyone…dont listen to this guy, u dont want to think even while breathing!!

[ayushchandra]

Is hisab se log zindagi bhai car nhi le paynge.

[biruly]

Middle class people don't have enough savings to buy cars worth rupees 8-10 lakhs. And even if they have, They're not going to give it all at once for car. Loan is the best thing.

Loan will be headache to those who don't have regular good salary.

[aj]

A car is a depreciating asset, and if you spend savings on buying this asset, you will lose more money long term than if you buy it with loan.. The impact of EMI will decline over long term because of inflation.. So, always go for car loan.

[ashwinji]

Suppose you have 5lac in savings and you want a car need 5 lac rs loan(9.5%), if you choose for 7 yrs you have to pay 187000 interest on that, and you put 5 lac in fd you will get 259000 (6%) interest so car loan is good if you can pay EMI 👍🏼

[pritikale-igby]

Buying car after age 30 is useless 😅....car chalane ka maja kya budape mai le kya 😅

[GeetaGyaanbyChetan]

Internet hai, YouTube hai to kuch bhi bakchodi karlo
Simple si chij hai
Agar Paisa hoga logo k ps to loan kyun lege, kisko bank jana pasand hai,

[munishmahajan]

I am taking the car loan at roughly 9 percent and some of the money from the savings invest in the market and get 3 percent per month return to offset the loan.

[tariqueShamim]

Took a personal loan of 18 Lakh in 2021 and invest 1L a month in Small case and paid EMI through salary. My small case value is 38 lakh as of now after 3 years and loan tenure is left for 2 years. Now, I'm planning to move the total money to index fund and do SWP to pay the rest of my loan 😂😂😂 of 38k emi and I will do 30K swp

[Lmi.N]

U get tax relief of many kinds especially if it is business use or just contact a good CA.

[adityamodi]

Actually the problem is not loans but value of car. Nowadays people love to buy super expensive gas guzzling suv like xuv700 which is more than thier annual income. People completely ignore total cost of car ownership which is much higher than purchase price.