Car Buyer’s Guide : Nowadays everyone dreams of having a shiny car. But just dreaming does not bring a car home, money is also needed for it. And nowadays cars have become so expensive that many people buy a car by taking a loan without thinking, but later the burden of EMI and expenses increases so much that they are forced to sell their beloved car. Do you know why this happens? And if you are also planning to buy a car worth about Rs 12 lakh, then this news is very important for you. Before buying a car, you have to understand the math of your monthly salary and EMI, otherwise you may have to pay a lot.
Is your salary low?
After buying a car, not only the price of the car has to be paid, but there are many other expenses as well. Therefore, today we will tell you what should be your monthly salary after buying a new car and whether you will really be able to afford a car or not. This information is very useful for you, so read it carefully.
How much should be the monthly income?
Financial experts say that if you are thinking of buying a car worth up to Rs 12 lakh, then first of all try to make a down payment of 20% to 25% of the car’s price i.e. Rs 2 lakh to Rs 2.5 lakh. This will reduce your EMI. And take a car loan for the remaining amount. But, before taking a loan, make sure that your monthly salary should be at least Rs 1 lakh or more. Only then will you be able to easily bear the burden of EMI and you will not have any problem.
Will you be able to afford the expenses?
Before buying a new car, definitely ask yourself this question, will you be able to bear the price of this car and its expenses? Because after buying a car, not only EMI, but also insurance, maintenance, petrol-diesel expenses and toll tax have to be paid. All these expenses together can have a huge impact on your pocket. Therefore, always decide to buy a new car keeping in mind your income and budget. Avoid taking hasty decisions, otherwise you may have to regret later.
