hello everyone i am planning to buy a car 6lakhs on road

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hello everyone,
i am planning to buy a car 6lakhs on road with 3lakhs as downpayment and 3 lakhs as loan. one of my close friend told me to buy altok10 he said, you will be troubled by paying huge EMI's and with fuel cost of big or higher cars. i somewhat find his advice valuable but i will keep my car for atleast 5 years. so i am little confused, whether i should buy alto k10 with liquid cash or some other 6lakh car with loan.
  • 2476 day(s) ago by ErSahil
Under: Maruti Alto #Cars
7
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Answers submitted by Users


Mantra
Hyundai
i20
Owner
like the rise in inflation and coming years, it would be really difficult to run a car.
however if your drive is strictly in city and low upto 30kms a day then its better to go for alto k10.
maruti service, reliability is best.
or if your driving is more than 30km a day, i would suggest you to put your money for diesel hatchback like figo.
exi model would cost you around 5lakhs on road.
 

Posted: 2476 day(s) ago


Abhishek
Honda
City
Owner
go for Grande Punto...world class diesel...most awarded engine..even maruti uses the same....
after 8-10 yrs of service grande punto will still look the same!!! ageless beauty
 

Posted: 2476 day(s) ago


Ravinder
Maruti
Alto
Owner
I agree with Mantra...I also want to submit that if your car running is above than 20Km daily...go for Diesel/ford figo...better choice
 

Posted: 2476 day(s) ago


Pawan
hi shahil i think i 10 asta is best option in 6 lacks beacause more length hight and width it's very comerteble car,,,
 

Posted: 2476 day(s) ago


Prashant
Maruti
Ritz
Owner
You are the best judge of your finances, always remember car is a luxury it's value will be depreciated with time. If you are comfortable in taking 3 lakh loans and it is not hampering your financial goals then go for a big car, if yes then go for Alto.
 

Posted: 2476 day(s) ago


Partha
Maruti
Swift Dzire
Owner
Sir, As per as your question is concerned, whether EMI is profitable or not. Here is the answer. If rate of interest is in lower side, it is profitable to take loan from Bank.Here is a example. SBI gives car loan at the rate of 8% in the first year and 10% in 2nd and 3rd year which is daily reducing basis. So for example, if you take Rs. 2 lacs from SBI say for one year,your EMI will be Rs. 17,485.00 which includes insurance too. So, in whole one year, it will be Rs. 17,485 X 12 = 2,09,820.00.Now, in case of keeping this 2 lacs in PPF or even in bank, in case of PPF, you will get 8% return tax free which is Rs.16000.00 for Rs.200000.00 or bank at 9% return which is taxable (if you are in tax bracket).Considering that you are in highest tax bracket that is 30%, return of 18,000if taxed by 30 %, it will be Rs. 5400.00 and actual return will be Rs. 12,600.00. So, you are clear gainer even in the worst scenario.Moreover, you need not pay at a time and in case of unfortunate death or serious injury, you or your family need not pay a single paise.
 

Posted: 2476 day(s) ago

Hi,
Considering the budget range and requirment, It will be worth taking loan of 1 or 2 lakh max and go for a diesel version car like figo diesel or Tata Indica eV2.The advantage being best of mileage and long term utlity combined with spacious interiors which is one of the drawback of Alto K10.
 

Posted: 2471 day(s) ago


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