Quick Answer: Is buying a car worth it in India?

Is it worth buying car India?

Never. We find it difficult to even imagine. Because availing loans at high interest rates, to buy luxury items & depreciating assets, is never advisable. Similarly, in the case of car as well, the idea should be to buy it for emotional reasons within our budget limitations, but without loan.

Which car is worth buying in India?

The most popular cars in india include Tata Punch (Rs. 5.49 Lakh), Mahindra XUV700 (Rs. 12.49 Lakh) and Mahindra Thar (Rs. 12.78 Lakh).

Top 10 Cars.

Model Price
Kia Seltos Rs. 9.95 – 18.10 Lakh
Maruti Vitara Brezza Rs. 7.61 – 11.19 Lakh
Mahindra Scorpio Rs. 12.77 – 17.61 Lakh

Is it good time to buy car in India?

October to December is the best time to purchase a car in India. During this time, the car showrooms will be clearing the stocks of outgoing models and will offer heavy discounts and additional benefits.

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At what salary should I buy a car in India?

1. Follow thumb rules. There is a thumb rule of not spending more than half of your annual household salary on the car. An individual earning Rs 10 lakh a year should at best buy a car worth Rs 5 lakh.

Which car brand is best in India?

Top 5 Car Brands in India – Best Car Brands in India

  • Maruti Suzuki. Maruti Suzuki or Maruti Suzuki India Limited was founded back in 1981 and is the leader in manufacturing cars in India. …
  • Hyundai. …
  • Toyota. …
  • KIA. …
  • Mahindra. …
  • Tata Motors.

What month is the best to buy a car?

If the stars align for the last day of the month to fall on a Monday, you can get even more leverage. In 2019, September 30th (the end of Q3) was a Monday!

The best day of the week to buy a car.

Day of the Week Average Savings Rate
Friday 8.06%
Saturday 7.77%

Which is the No 1 car in India?

The top Indian car brands are Mahindra, Tata, Maruti Suzuki,.

Top 10 Cars in India.

Model Price in New Delhi
Maruti Vitara Brezza Rs. 7.61 – 11.19 Lakh*
Maruti Celerio Rs. 4.99 – 6.94 Lakh*
Hyundai Creta Rs. 10.16 – 17.87 Lakh*
Mahindra Scorpio Rs. 12.77 – 17.61 Lakh*

Is it OK to buy second hand car?

Getting your used car insured will cost you a lot less as compared to a new car. … Even if you decide to sell it in the future, it won’t dent your wallet much by losing less amount of money than a new car would do. Especially for the first timers, a used purchase is more practical and affordable at the same time.

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Which is the safest car in India?

List of Top 10 Safest Cars in India

  1. Tata Nexon – NCAP Rating 5 Stars. …
  2. Tata Altroz – NCAP Rating 5 Stars. …
  3. Mahindra XUV 300 – NCAP Rating 5 Stars. …
  4. Mahindra Marazzo – NCAP Rating 4 Stars. …
  5. Volkswagen Polo – NCAP Rating 4 Stars. …
  6. Maruti Suzuki Vitara Brezza – NCAP Rating 4 Stars. …
  7. Tata Tiago – NCAP Rating 4 Stars.

How do car dealers negotiate in India?

Let the salesperson know that you are in the market and looking at different vehicles. A quality salesperson will be able to explain the benefits of his car over the competition. Take a test drive, but don’t talk price. Dealers love to negotiate with you right after the test drive, when you are at an emotional high.

Are cars a good investment?

Your car may be considered an asset because you can sell it for a large amount of money. … But your car is not an investment. It depreciates over time. In the first year, most cars depreciate in value at least $1,500.

How can I save money for a car in India?

Here are some tips to save money while you buy car in India.

  1. 7 Tips To Save Money While You Buying Car In India.
  2. Get In contact with, authorized car dealer. …
  3. Buy car on specific occasions. …
  4. Avoid taking car insurance from the dealer. …
  5. Bargain for free goodies. …
  6. Sort things out before making payment. …
  7. Ask for warranty extension.

Can I buy a car with 30k income?

If you have a monthly income of Rs 30,000 and aspire to buy a car, you can get a list of models including Tata Tiago, Tata Indica eV2, Maruti Suzuki Celerio, Hyundai i10 to choose from.

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Can I buy a car with 40k salary?

It is advised to customers that they restrict their car loans to not more than 20 percent of their monthly income. For example, if you make Rs. 40,000 per month, your monthly car loan EMI should not exceed Rs. 8,000. But the criteria for getting a loan also depends on the creditworthiness of the customer.

What car can I afford with 50k salary?

The higher you can get your credit score, the lower your monthly payment is likely to be. With the right credit score, you can afford more expensive cars even while earning a lower income. In many cases, those with fair credit have to pay 20% or more than those with very good credit for the same car.