
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.

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.

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

nice. Do you mind sharing the car name ?


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.

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

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



