Financial advice

Posting behalf of my friend:

One of my friends who is planning to buy a new car(on loan) but unable to understand how much he can spend. His annual financial details are as:

Income: 30L Home loan: 6L Investment: 5L Expense: around 12-15 L

He is married, so expenses will rise more in the future. I suggest not to fall into a financial trap by buying a new car. What's your opinion?

7mo ago

DerpyLlama

Deloitte

7mo

First ask him to decide the budget/car that will help in deciding to go for loan or not

Yes, its a trap never go for a car loan. I have not taken any loan personally but my friends who have taken, suggested never to take a car loans. AVOID going for a car loan

Maybe try buying a used car without loan

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