Car EMI is keeping YOU Broke!

Buying a car in India is a big deal—only 1 in 12 people own one. And with most of us under 30, it’s no surprise that cars are on everyone’s mind. But let’s be honest, a lot of that desire comes from clever marketing and social pressure.

So, in this video, we will talk about the 20% rule of buying a car. We have prepared a car affordability calculator. You can find the calculator in the description below.

Do show us your love in the comments below!

[KM-rkok]

If it makes you uncomfortable.. don't buy it. This has been my go to rule for every purchase. I could technically put together 25 lakhs for an XUV or a Thar but I restricted myself to 12-14 lakhs because that is the amount of money I can spend on a car and not think about it. If your car is so valuable to you that you're stressing out over every minor scratch and dent then it means you've spent more than you could afford to.. simple.

[aakashavashthi]

Just to acknowledge, you guys are doing great. I have learnt so many financial tips.

[RahulKumar-mryb]

4 year back my inhand salary was 84k. I bought Tata altroz rhythm for onroad price 7.15 lakh. Only booking amount I paid 30k. Rest 6.85lakh was loan because interest rate was 7.6%. In any condition index fund will give more. My monthly cost 13800emi + 3k petrol+ 500 tool + 1100 insurance + 1000 maintenance = 18400. My need of buying car was just to travel comfortably in sunlight with AC and music. That’s why base model was enough.

[manukuriachen]

It's all about balancing out...

Do you need a car? Absolutely yes! I have many a lot memories along with my family... That's for the experience part... It gives you independence also.

Should you be wise with spending money on a car? Yes; buy 1 step below what you can afford which will give you room for monthly expenses..

Loan Tenure - Keep it 3 or max 4 years

[happypotato]

Buying a car is like buying an experience which one can enjoy for a lifetime, unlike experiences like holidays which only lasts a couple month.
On the other hand a car acts as a utility as well.

[MayurCreativeStudio]

Due to this on going tariff war i stopped the decision to get a car.

[wajarabapunshi]

The Indian government makes it nearly impossible for middle class people to afford cars because of huge taxes and tariffs.

[sidshri]

Second half of the video is an absolute gem!! 💎❤

[ritwikgopi]

Experiences definitely matters. But at the same time a vehicle brings you independence. You don't need to rely on some one for commuting. And owning a car is also sort of an experience. I guess it will be personal choice for each

[IndianTubebuddy]

In some companies there are lease options, 1. Petrol 6000 rupees is provided. 2. Driver Salary 15k is provided 3. And the car will be purchased on EX showroom price 4. After four 4 year we need to renew new car. 5. You get tax exemption also because it is registered on the company name 5. Insurance is paid by the company for 4 years 6. Maintenance is managed by the company 7. Now you tell me still i should i go for the car or not.

[kunjanashara]

I have done this car ownership calculation several times way before this video came out and I end up delaying the purchase every time i do it😂

[muralisaripalli]

The car i bought which un my case costed me 20.6lakhs on road. I made 50% downpayment and 50% loan. The car was a 7 seater SUV with only 5 seats put in and a big boot for airport shuttle of my family living in US. My parents travel comfortablly in it, all temple and doctor visits. My family is comfortable, it gives me superb satisfaction and am happy with it. The car EMI is <12% of my monthly income and it suits me well. But i didnt chug out an excel sheet and stressed myself. I went ahead with the best suited model and variant which satisfies my basic needs. People, yes follow certain basic finances but dont obsess with these vedios. Theres something called as present which needs to be meaningful too....these videos make people miserable

[karanaggarwal]

Sometime ignorance is bliss. I agree with everything you said Prateek, but basing all life decisions on so much logic and calculations also takes away a lot of joy from the experience. We should obviously not go overboard when it comes to own finances but scrutinising everything so minutely and then planning will never give so much joy as sometimes just going with the flow. After-all the heart wants what it wants. To each his own.

[darsanreddy]

Forget about experience, owning a car gives you peace not just one time, several times. Yes it comes with its cons, but Peace beats everything. Surprising to see your whole team rated experience, may be due to FOMO since the work is based on assets rather liability. Human mindset is about have everything and I am sure every person who rated experience would also buy a car for sure :) I definitely agree, you should only buy what you can afford but trading off car for experience doesn't make sense for me.

[yjsandeep]

This video is definitely not for driving enthusiasts. Driving cars is also a sheer experience and you missed it in the entire video.

[SagarSawant]

Bit lazy to do comments on videos but this time I had to. Unlike other plenty of finance stuff out there on YT, this Channel makes sense. Great perspective. Great Team!

[Rohan]

I usually prefer used cars. Since 2021 I've been purchasing only used cars, and the 2nd one that I own now is Verna Fluidic, which was purchased only for 3.6L. This is less than 20% for me. I plan to change cars every 4-5yrs, not ready to spend anything beyond 3-5L (mostly 1st or 2nd owner vehicles). Even after 15yrs, a used car owner would still be spending 50% lesser than most new car owners, and would get to enjoy the experience of driving different cars in that period, with family and friends of course.

[HolyMolyDoughnutShop-s]

JUST BUY A SECOND HAND HONDA CAR FOR 4-5 Lakhs

[phoenix_random]

I think 99 percent of citizens don't care about this.

[muditsrivstv]

Someone needs to call bullshit on all these fin guys ranting against owning stuff
Only those who have never owned a car will buy into this idea of trading a car for experiences
A car allows you to create so many cherished memories
Think of it as a more expensive version of a large tv with a good music system
It adds so much to your life and lets you create memories which will outlast the car itself
A car is the most essential of necessities - more so in India
It shouldn't be an aspirational or emotional purchase but an essential one