SqueakyBoba
SqueakyBoba
13mo

Help me decide Car Budget

26/M, SMTS at Oracle 38 LPA CTC, 22 Base. Not a great financial background but lately doing good. Planning to buy a car this year, have following options.

Around 10 LPA, 5 cash + loan
Around 10, 5 cash + oracle RSU
Around 16, 5 cash + loan
Around 16, 5 cash + oracle RSU
174 votesexpired
13mo ago
WobblyCupcake
WobblyCupcake

In 10-11 lacs max budget
You will get a decent car with lesser loan. If you increase the budget from 10 to 16, the peace of mind will be disturbed more than the value addition of a bigger car, imo.

WobblyCupcake
WobblyCupcake

And selling asset(rsu) and buying a liability is also not a good idea, whatever you buy take the loan

SqueakyBoba
SqueakyBoba
13mo

Thanks for the insight. I am also thinking on the same line, I doubt a bigger car is going to add any additional value.

FuzzyPretzel
FuzzyPretzel
12mo

I took 13L car last yr, half RSU half loan

SqueakyBoba
SqueakyBoba
12mo

nice. Do you mind sharing the car name ?

SquishyMochi
SquishyMochi
12mo

Buy a good car so it lasts you like 7-8 years. You can get a good car till 12-13 lakhs

SqueakyBoba
SqueakyBoba
12mo

any suggestion?

TwirlyMarshmallow
TwirlyMarshmallow
12mo

Brezza

BubblyKoala
BubblyKoala
12mo

Don't you have carlease by company, you can save around 15% on pricing

SqueakyBoba
SqueakyBoba
12mo

i don’t think it’s there. For sure not at my level.

BubblyKoala
BubblyKoala
12mo

Check with hr team, it should be there at your level

QuirkyJellybean
QuirkyJellybean

You can go for 15-20 lakhs car if you are planning on working till 40-50. Tech is in very good shape now. If you love your job, buy your dream car. Go for an automatic mode, as it is easy to drive in cities. If you buy a car worth 10 lakhs, you will always think again and again that you have a small car. You have to use it for next 10 years. If saving money is important for you, then you can go for one around 10-12 lakhs. Emi on a 16 lakhs car for 7 years is 16.5k and for a 11 lakhs car it is 9k once you pay 5 lakhs down payment. If you think that extra 7.5k per month is crucial for you, go for a smaller one. But learn to feel content with the 10 lakhs car. You are at a crucial age where you can flaunt your things which you can't later(if you know what I mean). Car is a status symbol as well if you want to attract people.

QuirkyBagel
QuirkyBagel
12mo

Bigger car bigger expenses. Try to go for low maintenance ones. Go for base variants of high end cars which nowadays in similar price bracket of second end top of the line variants

QuirkyBagel
QuirkyBagel
12mo

Also go for 10-12 lakh car with 50% down payment and rest loan. Dont sell shares

DancingKoala
DancingKoala
13mo

Bro, refer me first for your company

SqueakyBoba
SqueakyBoba
13mo

DM with jobID and resume.

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