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Sir I disagree with 30k as maintenance yearly for a petrol car of hatchback..also ppl might not drive 2000kms per month with petrol car they might buy a diesel which give better mileage..also 23k is shown as ownership cost ..hiring is also expensive as 22k doesn't include petrol..ola uber is cheaper this i agree
Two more point that you can add in CONS of not having a car: 1. You don't get Ola/Uber all the time. Specially in late night and early morning. 2. At the time of emergency, when we need to urgently drive to hospital/relative/friend, we can't rely on Ola/Uber.
Nowadays people are living far from cities due to high cost of owning a flat or renting .which makes owning a car is good decision. Moreover after covid personal car is also need of hour. And everything cannot be thought financially becoz u r earning to give itself a better life.
This would be a must watch request for all the youth in India and parents who prioritize in showing off and having the grandest wedding even if they are a pauper
Totally yes! Much needed topic. That's a kind of wastage of money where in the family can utilise those lakhs of money in investing or saving it for a foreign trip for the couple!
@@haresh3562 The rituals in themself don't cost much. It's the desire to make it grand and blingy that costs moolah. And forget what older generation did, younger lot are also fanatics. Going for destination wedding, dance parties , almost making it a movie.
Many times we get rude drivers too... If it rains or during office hours, its difficult to get Ola/Uber and when we get it, we have to pay huge charges. Even though its spacious and you regularly go with your car, many times drivers refuse to go in an alley...and consider you are with your family and its raining...all logic fails
Having own car adds lot of flexibility, which ola, uber or any rent will not provide. If you translate it to monetary value (assuming u can do that) one would definitely buy a car. There are many hidden reasons beyond EMI, Fuel and maintenance. Found this bit over the top
Most important financial thing is missing *TIME* When going for ola/uber you get a lot of issues with booking a drive. Many times it cancels the ride after few minutes of booking. Many times you get rude drives which even abuse for not giving a tip. Many times it takes very very long to book a ride and abnormal weather conditions. Most importantly, it almost takes 2 to 3 times more time to book a ride and reach to a destination compared to you own car for short distances. The times goes in slow booking, driver roams around with the car around your house but never reaches at the pickup spot, and the list goes on. *TIME is MONEY to me* so I prefer time over my money in owning a car.
No doubt about that but think like this time spent at petrol station, searching for parking, for servicing etc. How do you compensate for these time ??
They have ola select or uber priority something for this. You don't get peak pricing and you get first preference and best rated drivers. So if it's regular cab for you then go for it
Exactly!!! The analytic doesn't take account of time and emotions most of the time. If I earn well I don't want my family to see others face. Also one should understand u need something in life to encourage u. It's all person to person. I would buy cheap new car rather than second hand. Mehnga roye ek baar.. sasta roye bar bar.
You could consider making a followup video in favour of buying a car reconsidering following factors: 1. Resale price of car 2. CNG variant which bring down fuel costs 3. Business factors - it may not look nice to arrive at a meeting in Ola for discussing a client deal. 4. Outstation trips (though car rental is also option here) 5. It is better to cry in your own car rather than in Ola with driver consoling you ;)
You missed a point. Sometimes there are situations where cabs aren't a viable option-at peak times. Cabs are expensive and also difficult to find. You talk about how time equals money, and in this case a lot of time is lost. Having one's own vehicle gives a sense of security and saves a lot of time.
Right . a srif apni batko asa rakhna chahta ha ki sunamya sahi lage asalme sahi navi ho ,ish ka target teenagers hota hai jinma Jadatar log non critical hota ha jin ka faida uathake ishbakti apna personal brand building , sells and marketing karta hai.he is a new generation Chester
@@Mamtasingh-ni2fp and in A cities, cabs are not safe in the middle of the night. He's got no point just Telling people how you can Eliminate every single Luxurious thing from your life and just use the money for bread and Butter.
@@JakePeraltaaa99 bhai Mai ek example deta hu Ji. Mere society main 80% log ke paas gaadi hai. Agar main kisi emergency main chahiye tho kisi se bhi pooch nahi Saktha kyuki personal gaadi ho gayi. Agar woi society ka common gaadi hai tho sabka Fayda hoga. Raat 2 Bhaje bhi use kar sakta. Car personal nahi sharing hi better hai. Emergency ke liye 3-4 transporters aur ambulance Walon ki number rakhlo. Daily work ke liye bus auto ya train use Karo. Is desh ko Bahuth fayda hoga Bina kuch Kare.
@@user-xbbsjsjsbna777 Bhai desh ka fayda aap hi kro hame zindgi jeeni h... ye bus train me zindgi nahi kaatni. Sbki apni apni soch hoti h. Yaha desh apko loot ta rhega aur ap uske fyde ke bare me sochte rhna.
@@mradulbhardwaj4134 in the intial episodes if you wanna see babitas honda city go and search it between episode no. 50 - 60. And if you wanna se taarak mehta's wagon r go and search between episode no. 100 - 115 where champak chacha is lost and jetha and taraak Mehta go finding him in tarak's wagon r
I use own car mostly for office (pre-pandemic) commuting and use quickride to share my ride. It covers 75% of my petrol expenses. Worked out very well for me!
Sir with due respect lot of holes in the calculation, dont miss lead people.... 8.5k emi includes principal, aftee 5 years you own the car and sell it back at 2.5 to 3 lakhs... so money is not entirely wasted... My office is about 10 km... never in my life i paid anything less than 200 - 300.... so per km cost is 20-30 inr
I don’t know where you are living but in Bangalore you get an UBER for 25km(average) at around ₹400-600, i.e. ₹15-25/km. Coz you don’t take into consideration the other charges. Can you get a cab late at night easily? many of the cabs cancel ur ride if you want to go to airport also. And lastly - 22k/month excluding petrol🤣🤣 And then hiring a driver 😝😝
Yup, the cost of UBER and OLA is freaking ridiculous. Thats y Bangalore is filled with 2 wheelers!!. Advantages of 2 wheelers- -> Can go on footpath 😂 -> Gives good mileage compared to car. -> Easy to manuever in Bangalore traffic!
Brother second hand car log kyo bechte unme kuch kharabhi hoti h tabhi bechte hai ab us car ko aap kharidoge to aap uski servicing ke itne pese de dego jitna car ka actual price nhi h
आपके गाडी का ड्रायव्हर का खर्चा 22 हजार रेंट मे इन्कलुड है क्या ? क्या उसका खर्चा अलगसे देते है यह भी क्लियर नही हुआ और पुराणी कार खरीदना और विकेंड लॉंग ड्राईव्ह के बारे मे बता दे प्लिज
@@_knowhowto 3.5 lakh me achhi gaadi mil jaati hai and koi bhi owner mna nahi krta apna mechanic bula kr gaadi check krwane ke liye .Gaadi dekhni aane chahiye achhi gaadiya bahut hai market me .
Two places where I cannot agree with you; 1. Monthly maintenance of owning a car is INR 2,500 !!?? I have been driving a Ford for some years now. My average annual maintenance cost is around INR 5,500. 2. You have done a comparative study upto year 5. But what happens after that? The thing that happens is that one doesn't have to pay the EMI anymore! Then your cost of owning a car becomes way insignificant than getting a taxi / car rental.
I collected the money for 3 years first, then bought the new Honda City full payment no loan and I am satisfied by it. I love cars and I don't care about finance when it comes to cars and bikes.
Same bro. Purchased my car after saving for about 3.5 years. Also worked hard and progressed in my career. Also made sure I had enough for emergency. No loan. No tension.
My father always considered second hand car And then he sells it after 3 years. So we get to own new car every 3-3.5 years at only 80k to 1 lakh price for 3 years. I think this is best way to enjoy your youth and also have financial stability.
@@warikoo sir what about the income of your driver you didn't added that and ha 5 years ke baad to per km cost kam ho jati he usko bhi consider nhi kiya plese make a vedio again on this topic.
I have actually evaluated both owning and subscription options and honestly the only positive of the subscription model is that you can upgrade easily however cost wise owning becomes much cheaper. Also maintenance for most is hardly 5k to 10k annually. 1 more important factor is that apart from the petrol, all other costs remain almost the same from year to year when you own a car whereas, your subscription cost is most likely to increase everytime your lock in ends. All in all, subscription is only a good option when you want a car for short term (say a year or 2).
Yes sir.. I agree with you. Financially hiring a car makes more sense.. But as you also said, and i agree to it... Buying a car gives you: - sense of pride - fulfilling dreams of family (parents, wife, kids) - Safety - Convenience in short and long trips - sense of ownership - family trip - emergencies - etc I think, when you are young, you should rent car and house. But once you reach a level in life, then buying an own car and house is always good.
I have made a habit of finding out the rental yield of properties, and on my last visit to Vasundhara, Delhi NCR. I was astonished that my friend's rental property was generating just 0.16% yield. It was a paradigm shift for me. Thank you for such simple yet powerful content.
This is the same thought process I have @Ankur. Same calculation I ran my husband and family through. I feel confident and proud after watching your videos about my financial literacy.
@@d2y_dx2 I think it's about what are your priorities and how do you decide to take a step. If you have any video that can help share it here and we can comment on how we feel just the way we did here
Finding the best person or best organization to invest your money is one of the most important financial decisions, Helen Walker is one I have seen.straight forward, honesty and trustworthy person.
The older I get,the more I see a straight path where I want to go.if you're going to hunt elephant, don't get off the trail for a Rabbit, Helen Walker investment is was what I have been finding for years.i thank my friend Phillip for recommended Helen Walker investment.i will be everly be grateful to Helen Walker for her honesty and sincerity
@@janemunsey9753 you are very right Ms, Helen's investment had help me so much especially my studies fees,may the Good lord bless continue to bless you Ms Helen.
I have always wanted to invest, but I'm very inexperienced.i even watched some video yet difficult to understand.i'm so much interest and in need of an expert.
Loved the way you explained it in such a simple manner! I myself bought a used CNG car just for fulfilling the emotional aspect and sold it after 5 years of decent usage. I use cabs for relatively long distance and my motorcycle for short distances! At this point I really feel that the notion of owning a car is a scam!
Nice logical video. I do want to add on a point that there's another factor which many people may want to consider while taking the decision - Family Emergency. Finding a cab in the middle of the night when your husband/wife/parent/child needs to see a doctor or rush to a hospital may set you in a frenzy
@@bhabanitripathy6741 No! Consider I book an Ola for tomorrow but I don't know how's the driver or is the car in good condition or not. Same goes with zoomcar, We don't relly know about the condition of car. and most of the times on urgent bookings you end up paying more and dont event get the desired vehicle. Imagine I have only 2 wheeler and there's some emergency at 2-3 midnight, Should I be searching for a ola or uber at that time? That's why now days car has become a necessity atleast for those who can afford it. Will be waiting for your reply! ;)
yes, i don't know, finance is like postponing everything in the name of investment?? what to invest for if I'm not the one enjoying my hard earned money?? Ola uber sucks sometimes as they don't arrive on time, don't go to your location, or keep cancelling until you finally get late for that important meeting. I am a commerce student and i do understand opportunity cost clearly, but i would not put all my emotional comfort aside like blasting my car with my favourite music, going on rides when its raining, pulling off a road trip mid of the night, or in general enjoying with friends. These little moments is what i call life cuz i got way too depressed watching these videos that demonstrate the importance of investment at the cost of life-long struggle. Investment is for sure important but putting our life on hold to enjoy the basic things is where i see capitalism winning.
Hi Ankur , I think one more option you must add , “ why we should buy a Car “ coz we can rely on our own car in medical emergency , we can’t depend on Ola and Uber specially when we have kids and senior citizens at home
I made my mummy see this video.. when he talked about investing the 1 lakh down payment money, she said "itna investment kya budhaape mein chhaati pe sajaake rakhenge?" 😂 She's not wrong 😂😂😂
but budhape me khane k liye kuch ni bachega to bheek mangna padega. u will have lots of time after retirement. but no money. agar us waqt apke pas pesa ho to u can travel world. live a beautiful luxurious life. she is not wrong. but money is needed even after 60 to live.
@@swethapavani7185 as per your logic, aaj se aap sirf daal roti khana, why waste money on other foods. Daal roti is sufficient ,healthy & will save lots of money :)
In long run, a second hand car would make you lose more money than a new one. Not to miss the fact sometimes a person is so unlucky, he buys a tin box in the name of cheap second hand car
Sir I have a genuine query if we would always take decisions based on financial interests, then what would we do with the money that we've saved. I mean we're investing money just to create more wealth. So when should we spend it? It is a genuine query and in no way I'm disagreeing to the content in the video.
You can use it in situations like funding your child's education or something that interests you. There's a concept called FIRE ( Financial independence and retire early). All this money you save can give you the freedom to retire early or start your own venture.
Thnx, Mr.Warikoo. Leaving a note: Being a hardcore car enthusiast myself, buying a car vs renting all boils down to emotions. If u ask me buying a car is a necessary evil. But it is to be noted that everyine's situation and conditions are unique and needs to make a conscious and balanced decision upon it. Sit down make some charts people then take decision.
Thank you for ur information. My dad watched ur video and he understood everything what u just said. We bought a Hyundai Verna of our requirements. Once again thank you
I don’t agree with the calculations, he has not calculated the resell value, also the cost of traveling when you want to go on a vacation out of town, he calculated everything but petrol for the cost of renting a car, it’s not sensible to rent a car.
Yes. Also he only calculated the Cost after 5 years. If we maintain a car it can easily last 10 years and After 5 years we dont have to pay for the emi. This channel is only for dumb wanna be smart peoe
Exactly! I completely agree with this point. Cost of renting is way higher than owning a car. It wastes a lot lot of time waiting for Ola and Uber and specially when it is a peak time in Delhi & NCR very frustrating.
Subjected to correction bro😂 Final Analysis: cost of ownership after 2 years. Rent a car: 4,80,000/- Hire Ola/Uber: 5,76,000/- Own a car: 3,00,000/- Let's assume as per your example KMS commuting in a month: 2000 Calculate for 2 years Rent a car: For you it's costs about 10rs/km In a month: 10*2000= 20000 In two years : 20000*24= 4,80,000/- Hire ola/uber For you it's costs about 12rs/km In a month: 12*2000= 24,000 In two years : 24,000*24= 5,76,000/- Buy a 5lakh car as per your example: Monthly EMI: 8500/- Monthly Maintenance: 2500/- Monthly Petrol: 12000/- Monthly Insurance:1000/-(you haven't added but let's calculate) Monthly Opportunity cost: 1000/- In a month: 25,000/- In two years: 6,00,000/- After two years you have an option to sell your own car and calculate 10% depression every year. 5,00,000 - 1,00,000= 4,00,000 you should get back in worst scenario your car has some issues and it sold for only 3lakh. 6,00,000-3,00,000= 3,00,000/-
@@santunubhaduri5353 yes Gandhi was also one. I know a state government teacher. I know him for 25 years. I see just one piece of Shirt and pant for last 25 years which he wears everyday going to school. Same old chappal repaired 200 times. His hair r full of dandruff. I don't think he ever uses hair oil. Same like u.....not even bicycle. House he lives in was built by his father. The son studies in private school ( govt. School teachers never teaches there children in govt. school) . He has never bought a small cricket ball to play as his father never pays . All money goes to bank. Entire family is so thin. Live like human being man. Not like an lizard
@@santunubhaduri5353 agr Tu paidha hi nahi hota toh tera sara kharcha bach jata aur tu zada happy rehta public transport b use krne ki zarurat nahi padti😂
I have been frequent user of ola, so some corrections 1) You can run your car on CNG( all ola car on cng) which will gives you average around 25 to 30 km per kg, so basically 50% drop on running cost 2) ola or uber charge around 20-25 rs/km And on peak hours it goes to 40 rs/km also 3) you can always get 2nd hand car from good vender. So that way your intial cost reduced, your running cost reduced.
Sir, you know what these huge amount of knowledge jo aap rozana youtube prr free of cost de rahe hai hume, sir hats off to you ! You are my greatest motivation !! I see u as my ideal
On of the few channels from where i can learn something new everyday in a very methodical and calculative manner...Its a request ANKUR SIR to make more videos on Investing , Prospects of Entrepreneur in India especially after the union budget of 2021 , Long Term career prospects for mid 20's for future and many more.... Loads of love and respect from KOLKATA.
but sir if we buy a car we can make money through selling that car after 5 years....okk it will be depriciated but it will have same money and mostly greater than 1.1 lakh so basically ola,uber or buying is same the difference is the free driver
A point that I believe hasn’t been included is the resale value of the car. A car can be sold for 25-30% of the On Road Value which could reduce the overall value of the car. Though, I personally also believe that renting a car is a better option, atleast for me.
Well if you invest that lets say 1 lakh in stock it has resell value and most likely if you invest in a good stock it's (resell value ) will be higher than Purchase price :)
Per month charges of renting a car (i20):22 k rent+ 13k petrol +10-12 k driver salary equal to:35 k per month 35×12 months equal to 4.20 lakh 35×30 months equal to 10.50 lakh Sir 2.5 saal m khud ki gaadi aa jati itne m Or aapne rent p le rkhi h, nayi ko 3 saal k baad bech bi skte ho for almost 7-8 lakh ki bache 3 lakh means 1 lakh per month means 8k per month Buying a new car:8k+12 k petrol+3k service charges equal to 23 k per month Renting a car:35 k per month Kaha h sir aaapka math of financial advise 🤣🤣
I sold my first car 7 years back. I bought that for 5.7L and sold it for 4L after 5 years. With that, I can say this calculation misses a big part. Along with that my wife tried to manage with Ola Uber to commute to her work which was 15 kms some time in past. It was horrible. A little rain and she would be stuck for one two hrs before she could get a cab. She was frustrated like anything that time. Calculation with cab and all looks good on paper but in reality things are quite different. Long term renting looks reasonable to me.
Gaadi kharidna hain ki nahi? Agar lena hain toh kyon lena hain? 🏁 Second waali gaadi kya jyada better option hain? Daily Drive Kitna kms gaadi chalani hain?? (New Car ki jhanjat Insurance + Registration+ Road Tx + Parking 🅿On Road Price)
What about reselling the car, a car bought for 5 lakh can easily be sold for at least 2 lakhs even after 5 years. Ola/Uber make no sense to me for everyday use.
The invested money grows each year But the car Depreciates every year. After 10 years at 10% return the 1 lakh will be 250000 but the car value after 10 years will be way more less than 2 lakhs
How the hell you read my mind always, just 30 mins before I was discussing this same topic with my friend and then just opened the TH-cam and there you are with a proper satisfying answer Thanks
ola/uber is perfect for city use only but there's a need to have a personal car if one lives in villages or travel from cities to villages once a week or so. Ola uber drops to village/other small cities but doesn't pickup. So for the convenience having a car is good option like in emergency situation when one has to rush to a hospital, you can't afford to wait for an ola.
That's what he said, it's more useful if you travel very frequently. If your city has good public transport then there is definitely no need to purchase a new car, or worst case go with the second hand car.
@@haresh3562 ola/uber is mainly in tier 1 and tier 2 cities, rarely in tier 3 cities or villages. India is way to big and although his point is good but even living in a city where ola uber is operational, a few times I really miss having my own car, there have been times when the cab was delayed and cancelled when needed to reach somewhere urgently. But overall ola/uber have been a revolution in India. I use it whenever possible.
@@umangku99 Absolutely true, there is no point denying the fact that the level of convenience you would get owning a car is way greater than ola/uber any day! But if you are economically strong enough to manage all the ownership cost then you should not look for any other option but own car. His analysis will be helpful for those who are from middle class, have multiple other options to travel and still want to buy a car!!
Excellent... practical illustration.. Kudos The timing of me watching this couldn't have been more appropriate since I'm planning to buy a car.. bcoz I'm passionate about driving...to save investment thought about buying a used car...but but but.... honestly it has gone back to square one...since I was also of the opinion that owning a car was mere luxury than utility...that's why I've not bought one so far...
During this super hot time of the year. I take my car to buy groceries, vegetable market, nearby market to buy stuffs for home and everything else. i don't think one would ever hire an Ola or Uber for this purpose. Way costly. Video and the topic is amazing for a debate and nothing else.
Thank you for explaining meticulously the options available, also for clearing it out how it would be a personal choice perfectly suiting/beneficial for one but not the other. This is what makes your content more wholesome and relatable!
Nice video, Ankur! I also wanted to add a time dimension to this thought process. Let's say one wants to purchase a car, use it for 4-5 years(same time frame as you mentioned) and then sell it. Do you still think that buying a car would be an unfavorable option in that case? I haven't done the math, just speaking hypothetically. I actually agree with all of your suggestions, no doubt about that. At the same time I'm also curious to know how this dimension adds to the overall thought process.
Hey Vasu. I was thinking the same and here's the math I had on my mind. 1. Say, you purchase a Hyundai Grand i10, my fav small car for 8L on-road all inclusive. 2. Say, you made a down-payment of 2L and took 6L loan for 5 years at 8.5%. 3. You'll be paying an EMI of 12,310 per month. Total interest on this is 1,38,595. You'll end up paying 7,38,595 overall for borrowing 6L. 4. Since we're in a pandemic, not all offices are open. Most are WFH. If you are from this audience and say you're having to drive occasionally only around 500km a month, so spending approx. 3200 a month at an average mileage of 18kmpl at an average petrol price of ₹112 over 5 years. 5. Since first 3 services are free for 24,000 kms or 2 years, you're only spending bare minimum for servicing in the first 2 years. 6. It is only from the 3rd year that labour kicks in. And servicing happens only once every 10,000 kms. So, the cost for Y1 = 186120, Y2 = 186120. From Y3, you're typically spending only around 5-6k if you are servicing once every year. Y3 = 191120. So, overall cost = 945600 for 5 years (add another 40-50k to this for petrol and any basic spare part replacements). Say, you clocked 50k kms in the last 5 years and you plan to sell the car after paying off the loan. Now, your car will fetch you around 4L to 4.5L in the used car market because the demand for used cars is incredibly growing and the Nios is sure to fetch a pretty good price if the maintenance has been top notch. If the car was sold after 5 years, your overall cost of ownership 11,45,600 - 4,50,000 = 6,95,600 for 5 years or 11,593 per month. Of course, I haven't considered inflation and the value of currency dropping due to that. This means that your EMIs will become cheaper for you over 5 years since your salary gets hiked. But it also means that the 450000 is actually 450000/1.20 (considering 20% overall inflation in 5 years) = 3,75,000 is the return on your car being sold in the used market. If you have the money, go for peace of mind. Get a new car. If you have less money and have ways to deal with surprises, go for a used car. For me personally, I am seeing more value in a well maintained used car.
Well balanced video.... Throughout the video I was thinking, what about emotional side of this and at the end it was addressed and an alternative way was also suggested. This made me to comment on this video. Well done, keep address all the concerns. Being financially right is not always right option, this is life and we have emotions that need to addressed as well.
Thank u sir I have learned lesson by spending few lacks unnecessarily Now am using small hatchback polo vw car which is loan free (so no interest and no emi burden) Now am investing in stocks of Bharat petroleum and hpcl so I can earn dividend and spend on fuel
This video inspired me to make some calculations😅 My Dad own a Xuv 500 for last 7 years It’s odometer is at 2,50,600 some KMs Taking avg price of diesel 75rs🤷🏻♂️ and mileage 12Kmpl Which comes out to be around Rs.15,66,000 for price of diesel in 7 years (which obviously includes 1 year of covid) And total cost of the car it self is about Rs.16,00,000 Lastly the maintenance cost Rs.4,00,000 Total = 15,60,000 + 16,00,000 + 4,00,000 Total = Rs.35,60,000 Comes out to be 14* rupees per Kilometre!
then he'll sell the same car for 7-8 lakhs. What would be rupees/km, Let us know that too. Also price of diesel 5-7 years ago was like 45-50rs, why u've taken 75 rs an average.
Yeah but if we sell the car after say 4 or 5 years at 40% of the initial cost, I guess buying a car becomes a better deal. It is good financially as well as fulfill the dream of having your own car. That being said, a pretty helpful video by you Sir.
Sir! with due respect, all the companies including zoomcar or what so ever works for profit. U're paying them 22K a month and they've given you asset of 9 lakhs. If they've invested 9 lakhs on a car and have to make profit out of it then obviously it'll be paid from ur pocket. So is it really a wise decision????
It was nice hearing you out on Leasing or Having your own Car. I would only go for leasing Cars (Zoom and Other service providers) if, i am living alone temporarily at some different city (Job Location). At my permanent resident, i will definitely have my own car. Doesn't make sense to lease cars at permanent residence. A Personal Car becomes like a family member. This car can be leveraged in Happy and in difficult times. Lets say if some falls sick at home, instead of booking a cab its more convenient to have our own personal car. Even leasing a car, we would end paying huge amount Per month. These services are already provided by different service providers like Zoom etc.
Sir! with due respect, all the companies including zoomcar or what so ever works for profit. U're paying them 22K a month and they've given you asset of 9 lakhs. If they've invested 9 lakhs on a car and have to make profit out of it then obviously it'll be paid from ur pocket. So is it really a wise decision????
Driver is a hugely important thing. At least what I feel, time is most important asset. One can invest his own time to his work while sitting in an ola or uber (depending on the type of work). Or at least you can relax to get energized to work more after travel. That is impossible for self driving.
Recently one week ago I bought a car as per my 10 times in hand salary monthly and trust me sir I did this same calculation considering these factors and still I have managed to manage all my expenses and savings while maintaining the all car related costs, though it was my emotional decision cause we don’t drive daily neither we need, but in a way I am happy 😎
I remember reviewing my my uber and ola bills - they typically come down to 18-20Rs/km. Uber has stopped showing the number of kilometres travelled in their receipts to hide such higher per km costs.
Actually sir after 5 years of my EMI mera gari tab sirf petrol, maintenance and insurance kahi kharcha mangegi and I think it would be quite a money saving option as compared to Ola and Uber.
Correct ma'am....this guy has got absolutely a wrong calculation....its actually not a calculation...its called discouraging...this is a dream of almost every person in this planet....if you maintain the car you can use it for 15 to 20 years straight...there are people still driving the good old Fiat and ambassadors.... Maintenance cost goes high if you drive the car like truck drivers...learn and develop your driving skills and love your car... saves you lots and lots of money....and fuel...
Another point to add is Uber/ Ola have a lot of surge when travelling in peak time, so it becomes very expensive. Also, I would like to know how resale value of owned car factors into this.
Sir! with due respect, all the companies including zoomcar or what so ever works for profit. U're paying them 22K a month and they've given you asset of 9 lakhs. If they've invested 9 lakhs on a car and have to make profit out of it then obviously it'll be paid from ur pocket. So is it really a wise decision????
Let us do a quick calculation - If you rent a i20 for 22k per month then for 1 year it would cost 2.64 lacs and in a matter of 4 years, the car rent alone would be 10.56 lacs. If you would have bought a new i20 for 9 lacs On- road on 7 lacs loan with 10% interest for 4 years, you pay additional 1.52 lacs on interest making the cost of car as 10.5 lacs similar to renting a car. For additional 10-12k (Max) you can get your car serviced yearly. *The BEST part is you own your car and can sell it in 4 years for 5 lacs approx making the effective cost of the car around 6 lacs which is way cheaper than renting a car.* I understand your perspective but in this scenario buying a car seems more sensible and if you buy a used car, then that would be the best decision financially. Feel free to share your opinion.
Well explained sir, Thanks a lot. The last reason you mentioned to buy a car is actually true. I can feel that same is happening with me. Thanks again :)
Rental car = 22000 monthly + Petrol (2200 km ×100) As per your calculations = 242000 ur monthly car expense!! ( driver salary not calculated) A very exaggerated calculations...and 100% wrong advice ur giving! If Daily u have to commute 80-100km then it's always safe to use public transportation or move near to your workplace.
and what life is this? if you have to travel by Local train everyday among those sweaty people? Some things are meant not to be mixed with finance. Don't get me wrong but if your budget allows to buy a car or bike of your choice and still you don't buy it and rather invest it... then what's the use of that? You earning for yourself right now or your future children and grandchildren?
@@JakePeraltaaa99 well I earn enough to own a car and a bike at once but I come from a humble background and I prefer to keep it that way . It helps me to keep myself grounded
@@abir95571 being humble is a state of mind. Even Many Celebs and Sportsperson are Humble and Down to earth but still drive fancy cars. It's all in your head. If you think owning a car let alone a simple one makes you "NOT HUMBLE", then it's good that you don't wanna buy a vehicle which will make your life simpler, Will bring joy everytime you Take it out...
Owning a car is still a better option. Ola and Uber are not available all the time and it's rate changes depending on the peak hours. Sometimes they are very expensive. Also, what if some emergency comes and you wanna go somewhere urgently say to a hospital. At that time you can't wait for an uber cab to come. Think about a situation where you want to go someplace for a vacation. What if Uber and Ola are not available in that place? Renting a car for the long term isn't that of a good option either. When you have ownership of the car, you can sell the car whenever you want and get a new one. Resale value is not considered in his analysis.
@@ankitshaw6491 If you can afford two, doesn't mean you need to buy 2 of it😂 This is the basic way of saying don't spend more than 50% of your worth in a single item. (ofcourse, not possible with houses 😉)
@@bhanuprakashhc4176 There is a general saying that If you dont have enough money to buy any item twice, then you can not actually afford it. Suppose, you have 30k as monthly salary, and you want to buy 25k mobile (assuming you have no other savings), then even though mathematically you can get 25k mobile out of your 30k salary but financially you shouldn't do that. This is to save money for doing more important expenses lile rent, food etc or for some emergency situation like a hospital visit. So, you should save money till the time you have money to buy atleast 2 of those mobiles which you wanted to buy earlier and then buy yourself a new mobile. Following this will make sure that even after buying a certain product, you are left with some good money which you can later use for emergencies, important expenses or investing.
@@rohitsoni9325 this helps in some cases bro thank you. Even I was looking for buying bike which costs around 2.5L damn I am confused though. Hope I can get it without any hassle 🙏🙏🙏.
Hi Ankur. Interesting video with practical insights. One pertinent point which I believe you overlooked in car ownership cost calculation is the resale value income after 4 / 5 years of using the car. This bring the cost per km down in the overall analysis. Additionally, the opportunity cost of 10,000 is per annum, which will be much lower on a monthly basis.
Sir you missed few things: 1. It’s not easy to get ola and Uber these days and with traffic in metro the expenses these days goes upto 14-15 per km 2. After 5 years when u sell the car you get back almost 1.75-2.0 lakhs which you have not reduced 3. So I think buying a car is much better than Ola and Uber not sure about leasing
if you have a good business and You can afford the emi very easily then what's the harm? Many Companies or businesses buy car In the name of businesses to get hefty discounts and Tax savings. And If they are able to pay the emi Every month without any hardships then there's no harm in buying a luxury vehicle on loan.
also, car loans in india are in favour of the Consumers. After Home and Education loan, car loan is the lowest in indian market. even if you have full cash to pay for a car, it's always advisable to buy on loan... you can checkout Mycarhelpline's video on this topic.
That's quite insightful Ankur, but there's this one very important factor which should also be considered while making the decision. It's when you own the car, you basically are paying the depriciation of it each month, not the complete EMI as monthly cost. As after 4-5 years the car can be resold for 40-50% of the value. So the cost of car should be considered as Rs 2.5 lakhs instead of 5 lakhs to make a fair comparison with hiring or renting. And if one buys a CNG car then it becomes even more economical.
Very well explained. My car is 11 years old and in good condition at just 45,000 km. Will stretch for at least 2 years and then will buy, hmm..., a used car. Budget max 5 lac. I have convinced my wife of that plan. Parents' concern need to be addressed :)
this is exactly how my parents planned.in their early 30s despite both of them having a relatively good job till their 40s they didn't buy any car. only invested in plots and golds(as they had no idea about stock).our first car was when my father turned 45. today they together earn properties worth 3 crore
How poor people manage this issue ???? How to manage emergency in case of punctured tyre? .....What if someone is injured on vacations, should he/she comeback home first to take car.....These issues are rare.
all the people who have emergency they have car?? For that purpose ambulance is their with proper equipment which is necessary in emergency condition to reach hospital....
@@mohitjoc25 in india except 5-7 top cities you won't get public transport or govt services as promp. Also you would also agree how many times ola uber cancel the ride if you want to go where they won't get return trip. Point is if you can afford, then get at least second hand.
@@behindthering329 They really can't! That's the reason you hear things like man died before reaching hospital or condition worsen coz many hospitals decline the admission. What's the point of having money if they can't be used in emergency situations to help our loved ones.
@@mohitjoc25 This is India bro. You can't really rely on ambulance when at the time of emergencies many hospitals even deny the admission of patient. And I'm not sure but I don't think the hospital denying the admission to patient will let you have its ambulance to transfer patients from hospital to hospital in a hope that next one will be ready to admit the patient. Not saying everyone must have a brand new sedan but one should have a second hand hatchback atleast which you can get in range of 2-3 lakhs also.
Ankur bhai you are very inspiring on being disciplined on financial situations... a true admirer and I have started following similar ways of being financially rigid as you say
Hi Ankur... I am a subscriber and regular viewer.. After a lot a deliberation I bought an expensive car ... It has got an aspirational value, something that I wanted to own for a very long time... We r a small family but I love driving ... long road trips gives me true sense on vacationing ... An utterly an emotional decision true ..But to repress your own emotions is to deny the very fact that makes us human .... Your take on this .. :-)
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For all of you requesting the excel sheet!
bit.ly/bvrdrive
Me and my father calculate these costs before buying . These videos are really helpful and quite easy to understand
Cng me convert karke sasti pdti
Hi, can you make a comparison video on petrol vs ev scooter
Sir I disagree with 30k as maintenance yearly for a petrol car of hatchback..also ppl might not drive 2000kms per month with petrol car they might buy a diesel which give better mileage..also 23k is shown as ownership cost ..hiring is also expensive as 22k doesn't include petrol..ola uber is cheaper this i agree
@@viqariqbal3887 You can change all these numbers in the excel sheet and see how it works for you
Two more point that you can add in CONS of not having a car:
1. You don't get Ola/Uber all the time. Specially in late night and early morning.
2. At the time of emergency, when we need to urgently drive to hospital/relative/friend, we can't rely on Ola/Uber.
Nowadays people are living far from cities due to high cost of owning a flat or renting .which makes owning a car is good decision. Moreover after covid personal car is also need of hour. And everything cannot be thought financially becoz u r earning to give itself a better life.
Get the context
Very good points... Really true
Also if it's raining , surge pricing becomes insane
And most of the cabs drives rash and many are not clean very dirty. Ola and Uber many times charge higher amount like 1.3 x or 2 x.
Can we look at a video on "Spending on Marriage"? I feel that is the biggest emotional investment with negligible returns.
This would be a must watch request for all the youth in India and parents who prioritize in showing off and having the grandest wedding even if they are a pauper
Totally yes! Much needed topic. That's a kind of wastage of money where in the family can utilise those lakhs of money in investing or saving it for a foreign trip for the couple!
We all know the answer already :)
Yeah thats a very good topic i also thought for that
We need video on this topic
@@haresh3562 The rituals in themself don't cost much. It's the desire to make it grand and blingy that costs moolah. And forget what older generation did, younger lot are also fanatics. Going for destination wedding, dance parties , almost making it a movie.
Loved it,
I bought a second hand car last month😀 (maa baap ka sapna😂)
Congratulations sir.!!
second hand car is a wise decision bro... i have too 😜
Money minded mandeep
Good option
Achcha Sir aap yaha bhi 🙌 uska bhi ek video ho jaye fir Channel pe
When you are with friends and relatives and trying to book ola/uber like a jackass since 30 minutes, then these logic wont even matter.
Don’t forget about the last minute cancellation by the driver after waiting for cab to arrive for 30minutes.
Many times we get rude drivers too... If it rains or during office hours, its difficult to get Ola/Uber and when we get it, we have to pay huge charges. Even though its spacious and you regularly go with your car, many times drivers refuse to go in an alley...and consider you are with your family and its raining...all logic fails
True that !.
Having own car adds lot of flexibility, which ola, uber or any rent will not provide. If you translate it to monetary value (assuming u can do that) one would definitely buy a car. There are many hidden reasons beyond EMI, Fuel and maintenance.
Found this bit over the top
if only friends and relatives would contribute to the overall expenses :)
Most important financial thing is missing *TIME*
When going for ola/uber you get a lot of issues with booking a drive. Many times it cancels the ride after few minutes of booking. Many times you get rude drives which even abuse for not giving a tip. Many times it takes very very long to book a ride and abnormal weather conditions.
Most importantly, it almost takes 2 to 3 times more time to book a ride and reach to a destination compared to you own car for short distances. The times goes in slow booking, driver roams around with the car around your house but never reaches at the pickup spot, and the list goes on.
*TIME is MONEY to me* so I prefer time over my money in owning a car.
No doubt about that but think like this time spent at petrol station, searching for parking, for servicing etc. How do you compensate for these time ??
They have ola select or uber priority something for this. You don't get peak pricing and you get first preference and best rated drivers. So if it's regular cab for you then go for it
Exactly!!! The analytic doesn't take account of time and emotions most of the time. If I earn well I don't want my family to see others face. Also one should understand u need something in life to encourage u. It's all person to person. I would buy cheap new car rather than second hand. Mehnga roye ek baar.. sasta roye bar bar.
Uber / ola will get you pissed of.. when most needed... or else make you pay double or thires...
Same reason why I got a vehicle for myself. Ola is so taxing on the mind... I found myself in a bad mood a lot.
You could consider making a followup video in favour of buying a car reconsidering following factors:
1. Resale price of car
2. CNG variant which bring down fuel costs
3. Business factors - it may not look nice to arrive at a meeting in Ola for discussing a client deal.
4. Outstation trips (though car rental is also option here)
5. It is better to cry in your own car rather than in Ola with driver consoling you ;)
It's better to have it in your own car too lmao
If you are a garments shop owner, reply to me
Don't buy CNG.
@@gohan12991 why?
CNG cost increasing now
Ankur is the Indian uncle we all wished we had :)
Y
Please don’t say uncle it hurts...he is still handsome
@@nidhiyadav8802 app shadi karlo Ankur sir se😂😂
Tu kya school m h kya ? 🤣🤣
Ankur Bhaiya should be better 😜
You missed a point. Sometimes there are situations where cabs aren't a viable option-at peak times. Cabs are expensive and also difficult to find. You talk about how time equals money, and in this case a lot of time is lost. Having one's own vehicle gives a sense of security and saves a lot of time.
Absolutely B-cities me raat ke 2 baje kha se cab aegi, also in emergencies.
Right . a srif apni batko asa rakhna chahta ha ki sunamya sahi lage asalme sahi navi ho ,ish ka target teenagers hota hai jinma Jadatar log non critical hota ha jin ka faida uathake ishbakti apna personal brand building , sells and marketing karta hai.he is a new generation Chester
@@Mamtasingh-ni2fp and in A cities, cabs are not safe in the middle of the night. He's got no point just Telling people how you can Eliminate every single Luxurious thing from your life and just use the money for bread and Butter.
@@JakePeraltaaa99 bhai Mai ek example deta hu Ji. Mere society main 80% log ke paas gaadi hai. Agar main kisi emergency main chahiye tho kisi se bhi pooch nahi Saktha kyuki personal gaadi ho gayi. Agar woi society ka common gaadi hai tho sabka Fayda hoga. Raat 2 Bhaje bhi use kar sakta. Car personal nahi sharing hi better hai. Emergency ke liye 3-4 transporters aur ambulance Walon ki number rakhlo. Daily work ke liye bus auto ya train use Karo. Is desh ko Bahuth fayda hoga Bina kuch Kare.
@@user-xbbsjsjsbna777 Bhai desh ka fayda aap hi kro hame zindgi jeeni h... ye bus train me zindgi nahi kaatni. Sbki apni apni soch hoti h. Yaha desh apko loot ta rhega aur ap uske fyde ke bare me sochte rhna.
Jethalal already knew this, that's why he didn't buy a car yet😂😂😂😂
Fun fact: in the FIRST episode of TMKOC, Jethalal tells Daya that their car has gone for repair. It was never mentioned again.
I always think that they all are financially stable, then why no one have car…
Except sodi as he having his garage !! 😂😂
Even taraak mehta had a wagon r and babita had a honda city
@@nabeelshaikh1103 never seen in the show
@@mradulbhardwaj4134 in the intial episodes if you wanna see babitas honda city go and search it between episode no. 50 - 60. And if you wanna se taarak mehta's wagon r go and search between episode no. 100 - 115 where champak chacha is lost and jetha and taraak Mehta go finding him in tarak's wagon r
I use own car mostly for office (pre-pandemic) commuting and use quickride to share my ride. It covers 75% of my petrol expenses. Worked out very well for me!
Sir with due respect lot of holes in the calculation, dont miss lead people....
8.5k emi includes principal, aftee 5 years you own the car and sell it back at 2.5 to 3 lakhs... so money is not entirely wasted...
My office is about 10 km... never in my life i paid anything less than 200 - 300.... so per km cost is 20-30 inr
I don’t know where you are living but in Bangalore you get an UBER for 25km(average) at around ₹400-600, i.e. ₹15-25/km. Coz you don’t take into consideration the other charges. Can you get a cab late at night easily? many of the cabs cancel ur ride if you want to go to airport also.
And lastly - 22k/month excluding petrol🤣🤣
And then hiring a driver 😝😝
Agree @abhishek. Including petrol price it will go 34k per month. Also if we sell car, we will get back some money which is not in case of renting it.
This exactly what I was thinking 😂
Yup, the cost of UBER and OLA is freaking ridiculous. Thats y Bangalore is filled with 2 wheelers!!.
Advantages of 2 wheelers-
-> Can go on footpath 😂
-> Gives good mileage compared to car.
-> Easy to manuever in Bangalore traffic!
Totally agree. You don't want to bang your head getting a cab late night after office. Time also has monetary value, people forget that.
When you hear such things from a CEO of a company then we as a mere mortal should avoid showing off . Thank you Sir . Always inspiring .
I am also a mere mortal :)
@@warikoo He's trying to say mere mortal with less money 😉
@@MrMiyagi005 with dramatically less money 😆
@@somkashyap9785 With mind-bogglingly drastically overwhelmingly the-I'm-living-in-poverty-level less money
Mr. Warikoo is a millionaire mortal. Money control says he earns 12 crores per annum.
मुझे 2nd hand/Used कारों के विकल्प के बारे में आपके विचार जानने की जिज्ञासा थी। प्रयास कीजिएगा के कृपया इस विकल्प पर भी वीडियो बनाइये। धन्यवाद।
Yes us car ko bech kr apna paisa bhi recover kiya ja sakta h
Brother second hand car log kyo bechte unme kuch kharabhi hoti h tabhi bechte hai ab us car ko aap kharidoge to aap uski servicing ke itne pese de dego jitna car ka actual price nhi h
Hume bhi yahi janna hai
आपके गाडी का ड्रायव्हर का खर्चा 22 हजार रेंट मे इन्कलुड है क्या ?
क्या उसका खर्चा अलगसे देते है यह भी क्लियर नही हुआ
और पुराणी कार खरीदना और विकेंड लॉंग ड्राईव्ह के बारे मे बता दे प्लिज
@@_knowhowto 3.5 lakh me achhi gaadi mil jaati hai and koi bhi owner mna nahi krta apna mechanic bula kr gaadi check krwane ke liye .Gaadi dekhni aane chahiye achhi gaadiya bahut hai market me .
Two places where I cannot agree with you;
1. Monthly maintenance of owning a car is INR 2,500 !!?? I have been driving a Ford for some years now. My average annual maintenance cost is around INR 5,500.
2. You have done a comparative study upto year 5. But what happens after that? The thing that happens is that one doesn't have to pay the EMI anymore! Then your cost of owning a car becomes way insignificant than getting a taxi / car rental.
15yers old swift Suzuki running 100000 kilometers
I collected the money for 3 years first, then bought the new Honda City full payment no loan and I am satisfied by it. I love cars and I don't care about finance when it comes to cars and bikes.
Correct, some things in life should not be mixed with finance. If we just think about investing, we won't buy anything of luxury or comfort.
It's my dream too to buy honda city & I'll buy that when I will collect that much amount.😁
I love cars and mad for cars, so i bought 3 cars in 4 yrs, innova, skoda, and Hyundai, i will purchase 2 more 1 is bmw and last is audi.
@@srinivasrao2307 *one by one* or *together* ??
Same bro. Purchased my car after saving for about 3.5 years. Also worked hard and progressed in my career. Also made sure I had enough for emergency. No loan. No tension.
My father always considered second hand car And then he sells it after 3 years. So we get to own new car every 3-3.5 years at only 80k to 1 lakh price for 3 years. I think this is best way to enjoy your youth and also have financial stability.
That legend do 😂😂😂 ❤️
Next time car sales down
Nirmala sitharaman : Not Ola uber ankur sir video is responsible 😆
Haha
Rohit bhai rocks😀😀
😂😂😂
@@warikoo sir what about the income of your driver you didn't added that and ha 5 years ke baad to per km cost kam ho jati he usko bhi consider nhi kiya plese make a vedio again on this topic.
😂😂
I have actually evaluated both owning and subscription options and honestly the only positive of the subscription model is that you can upgrade easily however cost wise owning becomes much cheaper. Also maintenance for most is hardly 5k to 10k annually. 1 more important factor is that apart from the petrol, all other costs remain almost the same from year to year when you own a car whereas, your subscription cost is most likely to increase everytime your lock in ends. All in all, subscription is only a good option when you want a car for short term (say a year or 2).
Yes sir.. I agree with you. Financially hiring a car makes more sense..
But as you also said, and i agree to it... Buying a car gives you:
- sense of pride
- fulfilling dreams of family (parents, wife, kids)
- Safety
- Convenience in short and long trips
- sense of ownership
- family trip
- emergencies
- etc
I think, when you are young, you should rent car and house. But once you reach a level in life, then buying an own car and house is always good.
I have made a habit of finding out the rental yield of properties, and on my last visit to Vasundhara, Delhi NCR. I was astonished that my friend's rental property was generating just 0.16% yield.
It was a paradigm shift for me. Thank you for such simple yet powerful content.
While the world is confused between two options, introduce them to a third near-perfect solution! Great video, Ankur!
Haha - thanks Shrenik :)
@@warikoo
Sir please, make videos in English.
So we can get it in better manner.
@warikoo no sir..pls keep posting in hindi only so that ur videos can penetrate more in Indian towns
@wariko I live in rural areas and Car is big prestige symbol.
How can deal with this???
@@kiranmahamuni1390 rent a car from local garages . or buy a second hand car with full payment
This is the same thought process I have @Ankur. Same calculation I ran my husband and family through. I feel confident and proud after watching your videos about my financial literacy.
He is financially illiterate.
@@d2y_dx2 I think it's about what are your priorities and how do you decide to take a step. If you have any video that can help share it here and we can comment on how we feel just the way we did here
@@buddylove7935 Such a cool reply to a blunt comment. World needs more people like you. :)
The real source of inner joy is to remain truthful and honest.i thank Helen Walker for her honesty and trustworthy...
Finding the best person or best organization to invest your money is one of the most important financial decisions, Helen Walker is one I have seen.straight forward, honesty and trustworthy person.
The older I get,the more I see a straight path where I want to go.if you're going to hunt elephant, don't get off the trail for a Rabbit, Helen Walker investment is was what I have been finding for years.i thank my friend Phillip for recommended Helen Walker investment.i will be everly be grateful to Helen Walker for her honesty and sincerity
@@janemunsey9753 you are very right Ms, Helen's investment had help me so much especially my studies fees,may the Good lord bless continue to bless you Ms Helen.
I have always wanted to invest, but I'm very inexperienced.i even watched some video yet difficult to understand.i'm so much interest and in need of an expert.
I have been having losses on my trading, please someone should link me to this Ms Helen's investment.
Loved the way you explained it in such a simple manner!
I myself bought a used CNG car just for fulfilling the emotional aspect and sold it after 5 years of decent usage.
I use cabs for relatively long distance and my motorcycle for short distances!
At this point I really feel that the notion of owning a car is a scam!
Nice logical video. I do want to add on a point that there's another factor which many people may want to consider while taking the decision - Family Emergency.
Finding a cab in the middle of the night when your husband/wife/parent/child needs to see a doctor or rush to a hospital may set you in a frenzy
We should consider one more point which is Freedom. If you own a car you can plan a trip any day anytime. And it's way way useful in emergencies.
I don't agree on this point. You can rent a car anytime for a trip and to that to which ever car you want.
@@bhabanitripathy6741 No! Consider I book an Ola for tomorrow but I don't know how's the driver or is the car in good condition or not. Same goes with zoomcar, We don't relly know about the condition of car. and most of the times on urgent bookings you end up paying more and dont event get the desired vehicle. Imagine I have only 2 wheeler and there's some emergency at 2-3 midnight, Should I be searching for a ola or uber at that time? That's why now days car has become a necessity atleast for those who can afford it. Will be waiting for your reply! ;)
For emergency ambulance is always Der
yes, i don't know, finance is like postponing everything in the name of investment?? what to invest for if I'm not the one enjoying my hard earned money?? Ola uber sucks sometimes as they don't arrive on time, don't go to your location, or keep cancelling until you finally get late for that important meeting.
I am a commerce student and i do understand opportunity cost clearly, but i would not put all my emotional comfort aside like blasting my car with my favourite music, going on rides when its raining, pulling off a road trip mid of the night, or in general enjoying with friends. These little moments is what i call life cuz i got way too depressed watching these videos that demonstrate the importance of investment at the cost of life-long struggle. Investment is for sure important but putting our life on hold to enjoy the basic things is where i see capitalism winning.
@@beenagautam7676 That's absolutely true. Even I'm a commerce student. Infact last year only I bought Ecosport.
Hi Ankur , I think one more option you must add , “ why we should buy a Car “ coz we can rely on our own car in medical emergency , we can’t depend on Ola and Uber specially when we have kids and senior citizens at home
*Despite the economic crisis, this is Still a good time to invest in stock and Crypto*
The rich spend less and invest more,
Investing in these economic crisis will be one of the best thing to do,
You're right I think stock and Crypto are the best to invest right now☺️
As stock's are good but crypto is better
I wanted to trade crypto but got confused by the fluctuation in price.,
I made my mummy see this video.. when he talked about investing the 1 lakh down payment money, she said "itna investment kya budhaape mein chhaati pe sajaake rakhenge?" 😂
She's not wrong 😂😂😂
Bhai bhai bhai🤣
😂 shi kha ye pura shi bhi nhi bol rha
😂😂😂
but budhape me khane k liye kuch ni bachega to bheek mangna padega. u will have lots of time after retirement. but no money. agar us waqt apke pas pesa ho to u can travel world. live a beautiful luxurious life. she is not wrong. but money is needed even after 60 to live.
@@swethapavani7185 as per your logic, aaj se aap sirf daal roti khana, why waste money on other foods. Daal roti is sufficient ,healthy & will save lots of money :)
Buying a second hand would also be a good decision!!
Nope
@@maneeshk6437 why?
Additionally using CNG
In long run, a second hand car would make you lose more money than a new one. Not to miss the fact sometimes a person is so unlucky, he buys a tin box in the name of cheap second hand car
Maintenance is higher in old car compared to new one
Sir I have a genuine query if we would always take decisions based on financial interests, then what would we do with the money that we've saved. I mean we're investing money just to create more wealth. So when should we spend it?
It is a genuine query and in no way I'm disagreeing to the content in the video.
Spending it wisely on the things u need and enjoy. Like family vacation etc.
Agree with you.. we earn for our convenience and comfort.
u can spend the earned money on something that is value adding like going on long vacation and not worrying about the cost of the vacation!
@@kalpeshkalal7736 what if the person enjoys driving ??
You can use it in situations like funding your child's education or something that interests you.
There's a concept called FIRE ( Financial independence and retire early). All this money you save can give you the freedom to retire early or start your own venture.
Thnx, Mr.Warikoo.
Leaving a note:
Being a hardcore car enthusiast myself, buying a car vs renting all boils down to emotions.
If u ask me buying a car is a necessary evil. But it is to be noted that everyine's situation and conditions are unique and needs to make a conscious and balanced decision upon it. Sit down make some charts people then take decision.
Thank you for ur information. My dad watched ur video and he understood everything what u just said. We bought a Hyundai Verna of our requirements. Once again thank you
I don’t agree with the calculations, he has not calculated the resell value, also the cost of traveling when you want to go on a vacation out of town, he calculated everything but petrol for the cost of renting a car, it’s not sensible to rent a car.
Yes. Also he only calculated the Cost after 5 years. If we maintain a car it can easily last 10 years and After 5 years we dont have to pay for the emi. This channel is only for dumb wanna be smart peoe
@@tushargarg.7 exactly
Strongly agreed.. paying 22k per month for rent and petrol.. aur last me resale bhi nahi 😂
Exactly! I completely agree with this point. Cost of renting is way higher than owning a car. It wastes a lot lot of time waiting for Ola and Uber and specially when it is a peak time in Delhi & NCR very frustrating.
BUY A CNG car
Subjected to correction bro😂
Final Analysis: cost of ownership after 2 years.
Rent a car: 4,80,000/-
Hire Ola/Uber: 5,76,000/-
Own a car: 3,00,000/-
Let's assume as per your example
KMS commuting in a month: 2000
Calculate for 2 years
Rent a car:
For you it's costs about 10rs/km
In a month: 10*2000= 20000
In two years : 20000*24= 4,80,000/-
Hire ola/uber
For you it's costs about 12rs/km
In a month: 12*2000= 24,000
In two years : 24,000*24= 5,76,000/-
Buy a 5lakh car as per your example:
Monthly EMI: 8500/-
Monthly Maintenance: 2500/-
Monthly Petrol: 12000/-
Monthly Insurance:1000/-(you haven't added but let's calculate)
Monthly Opportunity cost: 1000/-
In a month: 25,000/-
In two years: 6,00,000/-
After two years you have an option to sell your own car and calculate 10% depression every year.
5,00,000 - 1,00,000= 4,00,000 you should get back in worst scenario your car has some issues and it sold for only 3lakh.
6,00,000-3,00,000= 3,00,000/-
Spot on dost!!!
But nowadays people just get dragged on headlines and clickbaits with any Funda...
Rental car petrol is not included
Absolutely correct.
You have not finished paying your EMI if you choose to sell after 2 years..... So the amount you get in hand will be much lesser than your calculation
@@tanmayhaldar7565 please show us tge calculation
Iam working as a govt.school teacher for the last 12 years..I dont have any bike or car.I use public transport and Iam happy with that...😊👍
Sure. Plz also keep just peice of cloth for daily use. U will stay more happy. Live like Mahatma Gandhi .
@@nilu811 dont compare me with gandhi.Iam just trying being frugal.
@@santunubhaduri5353 yes Gandhi was also one.
I know a state government teacher. I know him for 25 years. I see just one piece of Shirt and pant for last 25 years which he wears everyday going to school. Same old chappal repaired 200 times. His hair r full of dandruff. I don't think he ever uses hair oil. Same like u.....not even bicycle. House he lives in was built by his father. The son studies in private school ( govt. School teachers never teaches there children in govt. school) . He has never bought a small cricket ball to play as his father never pays . All money goes to bank. Entire family is so thin.
Live like human being man. Not like an lizard
@@santunubhaduri5353 agr Tu paidha hi nahi hota toh tera sara kharcha bach jata aur tu zada happy rehta public transport b use krne ki zarurat nahi padti😂
@@viveksingh-rb1fz bachkana aur bewakoofi bhari batein mat karo bhai...bike aur car jo nahi chalate unka koi value nahi hota kya?
I have been frequent user of ola, so some corrections
1) You can run your car on CNG( all ola car on cng) which will gives you average around 25 to 30 km per kg, so basically 50% drop on running cost
2) ola or uber charge around 20-25 rs/km
And on peak hours it goes to 40 rs/km also
3) you can always get 2nd hand car from good vender.
So that way your intial cost reduced, your running cost reduced.
Sir, you know what these huge amount of knowledge jo aap rozana youtube prr free of cost de rahe hai hume, sir hats off to you !
You are my greatest motivation !!
I see u as my ideal
On of the few channels from where i can learn something new everyday in a very methodical and calculative manner...Its a request ANKUR SIR to make more videos on Investing , Prospects of Entrepreneur in India especially after the union budget of 2021 , Long Term career prospects for mid 20's for future and many more....
Loads of love and respect from KOLKATA.
Sure
Perfect presentation with Calculations. That is more convincing and differs you from other youtubers. Keep the same approach sir.
Thank you!
but sir if we buy a car we can make money through selling that car after 5 years....okk it will be depriciated but it will have same money and mostly greater than 1.1 lakh so basically ola,uber or buying is same the difference is the free driver
A point that I believe hasn’t been included is the resale value of the car. A car can be sold for 25-30% of the On Road Value which could reduce the overall value of the car. Though, I personally also believe that renting a car is a better option, atleast for me.
Well if you invest that lets say 1 lakh in stock it has resell value and most likely if you invest in a good stock it's (resell value ) will be higher than Purchase price :)
Per month charges of renting a car (i20):22 k rent+ 13k petrol +10-12 k driver salary equal to:35 k per month
35×12 months equal to 4.20 lakh
35×30 months equal to 10.50 lakh
Sir 2.5 saal m khud ki gaadi aa jati itne m Or aapne rent p le rkhi h, nayi ko 3 saal k baad bech bi skte ho for almost 7-8 lakh ki bache 3 lakh means 1 lakh per month means 8k per month
Buying a new car:8k+12 k petrol+3k service charges equal to 23 k per month
Renting a car:35 k per month
Kaha h sir aaapka math of financial advise 🤣🤣
Add one more point for buying a car
When in you are in emergency situation and Ola Uber drivers keep cancelling your ride
Never clicked on a notification so quickly!
Haha
@@warikoo So true...guess it was first time ....getting a feeling from heart to search for subscribing and notify button and I did it...
Thank you so much for this. Not to be cheesy but you're like a father I never had. Wish my dad taught and explained me all this.
Father???
वाह बेटे मौज करदी।🤣🤣😆🤣
Kids: Buy car
Men: Hires a car
Legend: Opt car rentals
Ultra Legend: Buys Taxi 😆😝
powerful Ultra legend : uses platina 😂
@@technicalast233 😂😂👌🏻
@@akashdasoz_yt 😂😂
Double powerful ultra legends : uses Activa 😂👍
@@harshadparab2042 Antique Ultra Legend : Uses Atlas with electric motor😂😂🛵
I sold my first car 7 years back. I bought that for 5.7L and sold it for 4L after 5 years. With that, I can say this calculation misses a big part.
Along with that my wife tried to manage with Ola Uber to commute to her work which was 15 kms some time in past. It was horrible. A little rain and she would be stuck for one two hrs before she could get a cab. She was frustrated like anything that time. Calculation with cab and all looks good on paper but in reality things are quite different. Long term renting looks reasonable to me.
Gaadi kharidna hain ki nahi?
Agar lena hain toh kyon lena hain? 🏁
Second waali gaadi kya jyada better option hain?
Daily Drive Kitna kms gaadi chalani hain??
(New Car ki jhanjat Insurance + Registration+ Road Tx + Parking 🅿On Road Price)
What about reselling the car, a car bought for 5 lakh can easily be sold for at least 2 lakhs even after 5 years.
Ola/Uber make no sense to me for everyday use.
The invested money grows each year
But the car Depreciates every year.
After 10 years at 10% return the 1 lakh will be 250000 but the car value after 10 years will be way more less than 2 lakhs
How the hell you read my mind always, just 30 mins before I was discussing this same topic with my friend and then just opened the TH-cam and there you are with a proper satisfying answer
Thanks
Thank you
ola/uber is perfect for city use only but there's a need to have a personal car if one lives in villages or travel from cities to villages once a week or so. Ola uber drops to village/other small cities but doesn't pickup. So for the convenience having a car is good option like in emergency situation when one has to rush to a hospital, you can't afford to wait for an ola.
That's what he said, it's more useful if you travel very frequently. If your city has good public transport then there is definitely no need to purchase a new car, or worst case go with the second hand car.
@@haresh3562 ola/uber is mainly in tier 1 and tier 2 cities, rarely in tier 3 cities or villages. India is way to big and although his point is good but even living in a city where ola uber is operational, a few times I really miss having my own car, there have been times when the cab was delayed and cancelled when needed to reach somewhere urgently.
But overall ola/uber have been a revolution in India. I use it whenever possible.
@@umangku99 Absolutely true, there is no point denying the fact that the level of convenience you would get owning a car is way greater than ola/uber any day! But if you are economically strong enough to manage all the ownership cost then you should not look for any other option but own car. His analysis will be helpful for those who are from middle class, have multiple other options to travel and still want to buy a car!!
Excellent... practical illustration.. Kudos
The timing of me watching this couldn't have been more appropriate since I'm planning to buy a car.. bcoz I'm passionate about driving...to save investment thought about buying a used car...but but but.... honestly it has gone back to square one...since I was also of the opinion that owning a car was mere luxury than utility...that's why I've not bought one so far...
During this super hot time of the year. I take my car to buy groceries, vegetable market, nearby market to buy stuffs for home and everything else. i don't think one would ever hire an Ola or Uber for this purpose. Way costly.
Video and the topic is amazing for a debate and nothing else.
Thank you for explaining meticulously the options available, also for clearing it out how it would be a personal choice perfectly suiting/beneficial for one but not the other. This is what makes your content more wholesome and relatable!
Nice video, Ankur! I also wanted to add a time dimension to this thought process. Let's say one wants to purchase a car, use it for 4-5 years(same time frame as you mentioned) and then sell it. Do you still think that buying a car would be an unfavorable option in that case? I haven't done the math, just speaking hypothetically.
I actually agree with all of your suggestions, no doubt about that. At the same time I'm also curious to know how this dimension adds to the overall thought process.
Hey Vasu. I was thinking the same and here's the math I had on my mind.
1. Say, you purchase a Hyundai Grand i10, my fav small car for 8L on-road all inclusive.
2. Say, you made a down-payment of 2L and took 6L loan for 5 years at 8.5%.
3. You'll be paying an EMI of 12,310 per month. Total interest on this is 1,38,595. You'll end up paying 7,38,595 overall for borrowing 6L.
4. Since we're in a pandemic, not all offices are open. Most are WFH. If you are from this audience and say you're having to drive occasionally only around 500km a month, so spending approx. 3200 a month at an average mileage of 18kmpl at an average petrol price of ₹112 over 5 years.
5. Since first 3 services are free for 24,000 kms or 2 years, you're only spending bare minimum for servicing in the first 2 years.
6. It is only from the 3rd year that labour kicks in. And servicing happens only once every 10,000 kms. So, the cost for Y1 = 186120, Y2 = 186120. From Y3, you're typically spending only around 5-6k if you are servicing once every year. Y3 = 191120.
So, overall cost = 945600 for 5 years (add another 40-50k to this for petrol and any basic spare part replacements).
Say, you clocked 50k kms in the last 5 years and you plan to sell the car after paying off the loan. Now, your car will fetch you around 4L to 4.5L in the used car market because the demand for used cars is incredibly growing and the Nios is sure to fetch a pretty good price if the maintenance has been top notch.
If the car was sold after 5 years, your overall cost of ownership 11,45,600 - 4,50,000 = 6,95,600 for 5 years or 11,593 per month.
Of course, I haven't considered inflation and the value of currency dropping due to that.
This means that your EMIs will become cheaper for you over 5 years since your salary gets hiked. But it also means that the 450000 is actually 450000/1.20 (considering 20% overall inflation in 5 years) = 3,75,000 is the return on your car being sold in the used market.
If you have the money, go for peace of mind. Get a new car. If you have less money and have ways to deal with surprises, go for a used car. For me personally, I am seeing more value in a well maintained used car.
Well balanced video.... Throughout the video I was thinking, what about emotional side of this and at the end it was addressed and an alternative way was also suggested. This made me to comment on this video. Well done, keep address all the concerns. Being financially right is not always right option, this is life and we have emotions that need to addressed as well.
Thank u sir
I have learned lesson by spending few lacks unnecessarily
Now am using small hatchback polo vw car which is loan free (so no interest and no emi burden)
Now am investing in stocks of Bharat petroleum and hpcl so I can earn dividend and spend on fuel
3 reasons I watch warikoo :
Right to the content
No ads
English subtitles. (Explanation also in English wud have been perfect)
This video inspired me to make some calculations😅
My Dad own a Xuv 500 for last 7 years
It’s odometer is at 2,50,600 some KMs
Taking avg price of diesel 75rs🤷🏻♂️ and mileage 12Kmpl
Which comes out to be around Rs.15,66,000 for price of diesel in 7 years (which obviously includes 1 year of covid)
And total cost of the car it self is about Rs.16,00,000
Lastly the maintenance cost Rs.4,00,000
Total = 15,60,000 + 16,00,000 + 4,00,000
Total = Rs.35,60,000
Comes out to be 14* rupees per Kilometre!
Exactly
then he'll sell the same car for 7-8 lakhs. What would be rupees/km, Let us know that too. Also price of diesel 5-7 years ago was like 45-50rs, why u've taken 75 rs an average.
@@abhishekraj719 Warikoo bhai ko khush bhi toh krna hai...
@@anshulguptain Plus ola uber me waganor chalte hain, n jab kharidne ki baat krte hain to price i20 ka compare krte hain... hadd chu*** hai
Toh alto kharid leta if u r worried so much about mileage and maintenance and if safety was not priority
Yeah but if we sell the car after say 4 or 5 years at 40% of the initial cost, I guess buying a car becomes a better deal. It is good financially as well as fulfill the dream of having your own car. That being said, a pretty helpful video by you Sir.
Yes I was thinking the same. Why wasn’t this calculated
Yes you’re right.
Did you take in account the inflation?
@@lavishagera1302 dude how much will it fluctuate
Sir! with due respect, all the companies including zoomcar or what so ever works for profit. U're paying them 22K a month and they've given you asset of 9 lakhs. If they've invested 9 lakhs on a car and have to make profit out of it then obviously it'll be paid from ur pocket. So is it really a wise decision????
Instead of taking a loan invest money & then buy a car from that money.
totally agreed. buy a car with the profits from investment
But its gonaa take a lot of time
@@ankitshaw6491 Stock market.
It was nice hearing you out on Leasing or Having your own Car.
I would only go for leasing Cars (Zoom and Other service providers) if, i am living alone temporarily at some different city (Job Location).
At my permanent resident, i will definitely have my own car. Doesn't make sense to lease cars at permanent residence.
A Personal Car becomes like a family member. This car can be leveraged in Happy and in difficult times.
Lets say if some falls sick at home, instead of booking a cab its more convenient to have our own personal car.
Even leasing a car, we would end paying huge amount Per month. These services are already provided by different service providers like Zoom etc.
what a balanced analysis. cant agree more. and the way you present will make the audience sit up and take notice.
Me watching this video while not having money, investment, car, even having to think twice before hiring a taxi.. like wtf is going on bro😂
😂 😁
Meanwhile Elon Musk: Sala,ye log toh 5 lakh ka gaadi chalata hai mera 1 crore ka gaadi kaun lega bey
Kartik Aryan 😂
tu laelle fer, bolda peya vadda aaya
@@PrathamBhatia Tera baap bhi nhi khreed payega khoteya 1 crore ki gaddi,tu kya khreedega
kya bey bey laga rakha hai. Saale bolna to seekhle pehlle.
This is an extremely well articulated video..Covers everything and more with the 3rd option...Good Job Ankur 👍
Sir! with due respect, all the companies including zoomcar or what so ever works for profit. U're paying them 22K a month and they've given you asset of 9 lakhs. If they've invested 9 lakhs on a car and have to make profit out of it then obviously it'll be paid from ur pocket. So is it really a wise decision????
Sir whenever you explain any calculation just explain it with an excel sheet. I have also fall in love with excel by watching your videos.😁😊
Driver is a hugely important thing. At least what I feel, time is most important asset. One can invest his own time to his work while sitting in an ola or uber (depending on the type of work). Or at least you can relax to get energized to work more after travel. That is impossible for self driving.
Recently one week ago I bought a car as per my 10 times in hand salary monthly and trust me sir I did this same calculation considering these factors and still I have managed to manage all my expenses and savings while maintaining the all car related costs, though it was my emotional decision cause we don’t drive daily neither we need, but in a way I am happy 😎
I remember reviewing my my uber and ola bills - they typically come down to 18-20Rs/km. Uber has stopped showing the number of kilometres travelled in their receipts to hide such higher per km costs.
Actually sir after 5 years of my EMI mera gari tab sirf petrol, maintenance and insurance kahi kharcha mangegi and I think it would be quite a money saving option as compared to Ola and Uber.
10 saal me to gadi purani ho jayegi
@@laalgoli8217 a good car usually okay for like 12-15 years if used properly. He's actually correct.
Correct ma'am....this guy has got absolutely a wrong calculation....its actually not a calculation...its called discouraging...this is a dream of almost every person in this planet....if you maintain the car you can use it for 15 to 20 years straight...there are people still driving the good old Fiat and ambassadors....
Maintenance cost goes high if you drive the car like truck drivers...learn and develop your driving skills and love your car... saves you lots and lots of money....and fuel...
@@larsonralphpais8230 he is telling truth,but you are good
Great vidoe!!! You excel with Excel, Ankur. Keep them coming. Thanks a ton.
Another point to add is Uber/ Ola have a lot of surge when travelling in peak time, so it becomes very expensive.
Also, I would like to know how resale value of owned car factors into this.
Request you to add excel sheet for this. Thank you for quality content !
You are making us quite intelligent as per the business side of things is concerned , thank you Mr Warikoo
Sir! with due respect, all the companies including zoomcar or what so ever works for profit. U're paying them 22K a month and they've given you asset of 9 lakhs. If they've invested 9 lakhs on a car and have to make profit out of it then obviously it'll be paid from ur pocket. So is it really a wise decision????
Superb in -depth analysis, Ankur. But you missed on the insurance costs (but I'm assuming its included in the maintenance costs)
It is there in on road part
Let us do a quick calculation -
If you rent a i20 for 22k per month then for 1 year it would cost 2.64 lacs and in a matter of 4 years, the car rent alone would be 10.56 lacs.
If you would have bought a new i20 for 9 lacs On- road on 7 lacs loan with 10% interest for 4 years, you pay additional 1.52 lacs on interest making the cost of car as 10.5 lacs similar to renting a car. For additional 10-12k (Max) you can get your car serviced yearly. *The BEST part is you own your car and can sell it in 4 years for 5 lacs approx making the effective cost of the car around 6 lacs which is way cheaper than renting a car.*
I understand your perspective but in this scenario buying a car seems more sensible and if you buy a used car, then that would be the best decision financially.
Feel free to share your opinion.
Well explained sir, Thanks a lot. The last reason you mentioned to buy a car is actually true. I can feel that same is happening with me.
Thanks again :)
Rental car = 22000 monthly + Petrol (2200 km ×100)
As per your calculations = 242000 ur monthly car expense!! ( driver salary not calculated)
A very exaggerated calculations...and 100% wrong advice ur giving!
If Daily u have to commute 80-100km then it's always safe to use public transportation or move near to your workplace.
me trying to understand all of it even though i take 80rs train pass per month to travel to office lol
Wise choice :)
and what life is this? if you have to travel by Local train everyday among those sweaty people? Some things are meant not to be mixed with finance. Don't get me wrong but if your budget allows to buy a car or bike of your choice and still you don't buy it and rather invest it... then what's the use of that? You earning for yourself right now or your future children and grandchildren?
@@JakePeraltaaa99 well I earn enough to own a car and a bike at once but I come from a humble background and I prefer to keep it that way . It helps me to keep myself grounded
@@abir95571 being humble is a state of mind. Even Many Celebs and Sportsperson are Humble and Down to earth but still drive fancy cars. It's all in your head. If you think owning a car let alone a simple one makes you "NOT HUMBLE", then it's good that you don't wanna buy a vehicle which will make your life simpler, Will bring joy everytime you Take it out...
@@JakePeraltaaa99 materialism never end being "simple" ... It just grows from Xiaomi to Samsung to Apple , better curb it in the xiaomi phase
The book "Rich Dad, Poor Dad" should be a mandatory read for all citizens. It just gives the principles behind financial thinking.
Owning a car is still a better option. Ola and Uber are not available all the time and it's rate changes depending on the peak hours. Sometimes they are very expensive. Also, what if some emergency comes and you wanna go somewhere urgently say to a hospital. At that time you can't wait for an uber cab to come. Think about a situation where you want to go someplace for a vacation. What if Uber and Ola are not available in that place? Renting a car for the long term isn't that of a good option either. When you have ownership of the car, you can sell the car whenever you want and get a new one. Resale value is not considered in his analysis.
Whenever i get an emotional urge to buy a car, i watch this video and it always saves me 😌 🎉
Reach me with the What'sap Line above for more information , guidance and available investment. Thanks for the feedback!!
I think you missed the value of the owned car that it will still be having after five years. may be very less but still.
A delhi metro traveller & non-earning student watching this like 'hmm interesting'
True ... i am the second one but having a startup and looking to raise!
"If you cant afford two of it, dont buy it" -WB
Wtf I'm supposed to do with 2....just stop listening motivational guru
@@ankitshaw6491 If you can afford two, doesn't mean you need to buy 2 of it😂 This is the basic way of saying don't spend more than 50% of your worth in a single item. (ofcourse, not possible with houses 😉)
@@rohitsoni9325 what do you mean didn't get you bro
@@bhanuprakashhc4176 There is a general saying that If you dont have enough money to buy any item twice, then you can not actually afford it. Suppose, you have 30k as monthly salary, and you want to buy 25k mobile (assuming you have no other savings), then even though mathematically you can get 25k mobile out of your 30k salary but financially you shouldn't do that. This is to save money for doing more important expenses lile rent, food etc or for some emergency situation like a hospital visit. So, you should save money till the time you have money to buy atleast 2 of those mobiles which you wanted to buy earlier and then buy yourself a new mobile. Following this will make sure that even after buying a certain product, you are left with some good money which you can later use for emergencies, important expenses or investing.
@@rohitsoni9325 this helps in some cases bro thank you. Even I was looking for buying bike which costs around 2.5L damn I am confused though. Hope I can get it without any hassle 🙏🙏🙏.
Hi Ankur. Interesting video with practical insights. One pertinent point which I believe you overlooked in car ownership cost calculation is the resale value income after 4 / 5 years of using the car. This bring the cost per km down in the overall analysis. Additionally, the opportunity cost of 10,000 is per annum, which will be much lower on a monthly basis.
Sir you missed few things:
1. It’s not easy to get ola and Uber these days and with traffic in metro the expenses these days goes upto 14-15 per km
2. After 5 years when u sell the car you get back almost 1.75-2.0 lakhs which you have not reduced
3. So I think buying a car is much better than Ola and Uber not sure about leasing
Imagine owning a luxury car in loan!! 😱😱
Status driven society doesn't care untill they get the attention
if you have a good business and You can afford the emi very easily then what's the harm? Many Companies or businesses buy car In the name of businesses to get hefty discounts and Tax savings. And If they are able to pay the emi Every month without any hardships then there's no harm in buying a luxury vehicle on loan.
also, car loans in india are in favour of the Consumers. After Home and Education loan, car loan is the lowest in indian market. even if you have full cash to pay for a car, it's always advisable to buy on loan... you can checkout Mycarhelpline's video on this topic.
Me a 17 year old watching investment and renting videos between study breaks, nerd energy
You will be first milliner in your family
Sir, I think we should also consider the resale value around 1.5 L. Correct me if I am wrong.
Thank you for this video.🙂
That's quite insightful Ankur, but there's this one very important factor which should also be considered while making the decision.
It's when you own the car, you basically are paying the depriciation of it each month, not the complete EMI as monthly cost.
As after 4-5 years the car can be resold for 40-50% of the value. So the cost of car should be considered as Rs 2.5 lakhs instead of 5 lakhs to make a fair comparison with hiring or renting.
And if one buys a CNG car then it becomes even more economical.
Very well explained. My car is 11 years old and in good condition at just 45,000 km. Will stretch for at least 2 years and then will buy, hmm..., a used car. Budget max 5 lac. I have convinced my wife of that plan. Parents' concern need to be addressed :)
this is exactly how my parents planned.in their early 30s despite both of them having a relatively good job till their 40s they didn't buy any car. only invested in plots and golds(as they had no idea about stock).our first car was when my father turned 45. today they together earn properties worth 3 crore
how old is your dad?
I'm just thinking what I have to earn to pay 22,000 rupees to rent a car for a month and what warikko earns so he is capable of renting a car
All the best waiting for ola/uber when you have emergency or injury. The driver will keep on cancelling the ride.
How poor people manage this issue ???? How to manage emergency in case of punctured tyre? .....What if someone is injured on vacations, should he/she comeback home first to take car.....These issues are rare.
all the people who have emergency they have car??
For that purpose ambulance is their with proper equipment which is necessary in emergency condition to reach hospital....
@@mohitjoc25 in india except 5-7 top cities you won't get public transport or govt services as promp. Also you would also agree how many times ola uber cancel the ride if you want to go where they won't get return trip.
Point is if you can afford, then get at least second hand.
@@behindthering329 They really can't! That's the reason you hear things like man died before reaching hospital or condition worsen coz many hospitals decline the admission. What's the point of having money if they can't be used in emergency situations to help our loved ones.
@@mohitjoc25 This is India bro. You can't really rely on ambulance when at the time of emergencies many hospitals even deny the admission of patient. And I'm not sure but I don't think the hospital denying the admission to patient will let you have its ambulance to transfer patients from hospital to hospital in a hope that next one will be ready to admit the patient.
Not saying everyone must have a brand new sedan but one should have a second hand hatchback atleast which you can get in range of 2-3 lakhs also.
Ankur bhai you are very inspiring on being disciplined on financial situations... a true admirer and I have started following similar ways of being financially rigid as you say
Hi Ankur... I am a subscriber and regular viewer.. After a lot a deliberation I bought an expensive car ... It has got an aspirational value, something that I wanted to own for a very long time... We r a small family but I love driving ... long road trips gives me true sense on vacationing ... An utterly an emotional decision true ..But to repress your own emotions is to deny the very fact that makes us human .... Your take on this .. :-)