CAR FINANCES! | What Car can you Afford? | Ankur Warikoo Hindi
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- เผยแพร่เมื่อ 3 พ.ย. 2023
- This video comes with an excel sheet, check here: bit.ly/45Q9xi6
Buying a car is a significant financial decision, and knowing how much you can afford is crucial. In this informative video, I dive into the essential factors that determine your car affordability.
Making a well-informed decision about your car affordability can help you manage your finances wisely and avoid unnecessary financial strain.
Join me in this discussion as we unravel the complexities of car affordability and equip you with valuable insights to make a sound financial choice. Remember, financial empowerment starts with making informed decisions.
#CarAffordability #FinancialWisdom #warikoo
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My gear for shooting this video:
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The above links are on Amazon.
If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L and in 2022 we contributed 53L.
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This video comes with an excel sheet, check here: bit.ly/45Q9xi6
My Money Apps: bit.ly/3Zg56eR
My bestselling books:
‘GET EPIC SHIT DONE’: ankurwarikoo.com/getepicshitdone
‘Do Epic Shit’: ankurwarikoo.com/doepicshit
My gear for shooting this video:
🎥 Sony a7III camera: bit.ly/3M42wAV
🎬 Sony FE 24-70 f2.8 Lens: bit.ly/3KCCiF0
🎙 Shure SM7B Microphone: bit.ly/3O1NAVA
🔆 Fill Light 60W: bit.ly/37aJolP
💡 Key Light 150W: bit.ly/3O9nyjs
📽 Benro IT15 Tripod for Sony a7III camera: bit.ly/3O4PvJ1
Useful links:
20 books for your 20s: bit.ly/WarikooBooks
20 online courses for your 20s: bit.ly/WarikooOnlineCourses
Gadgets that I use: bit.ly/WarikooGadgets
The above links are on Amazon.
If you buy any of these using the above links, I stand to make affiliate income from it. 100% of this income is contributed towards the education of kids who cannot afford it. In 2021 we contributed 38L and in 2022 we contributed 53L.
Hello sir... Give me a suggestion please, I just started a travel blog channel, shoot with my phone. But it produces so much heat, that's why I can't shoot properly.
I started mutual fund last year and I'm 4000/- profit on the total amount.
Should I break my funds to buy a new camera ? And start again investment now ????
Ankur it's always in view only mode and i can't edit on mobile phone
sir your excel sheet are not work .
can you guide me that how i use this excel sheet
bro they don't edit laptop also.
@@sagnikmitra2307
Bhai Mai aapko bank walo ki tarf se fraud batata hu bank farzi Ruppaya mai len den kar rahe
Jab hum loan lete hai tab bank Hamare Account Mai Digital Number Dikha deta hai
Jisne bank se loan liya hai agar nahi bharta hai to jis cheez par unhone loan diya hai usko kabza lete hai
Humane baatcheet ki aap hamre sath farzi Ruppaya diya hai
Agar aapne nahi diya hai to aap hume likh kar de diyje tab bank likh dene ko tyaar nahi
Phir baad mai bank notice pe notice bej deta hai jab loan nahi bharte hai
Iske aage manie Devender balhara ki Videos dekhi jinka Channel NIDER INDIA hai
Unhone hame bataya ki 1 Ruppaya 777milligram GOLD ke baraber hai
Phir hame bank ko Likhit paper mai hamne pucha ki hamre paper kay jawab deydo tab bank ka koi jawab na koi notice aata hai naa hee koi phone
Iska matlab saaf hai ki bank Fraud kar raha hai
Devender balhara ji ne 60 caro par 50 se jyada Jamino par experiment kar chuke hai
Agar aapko meri baat mai dum lagta hai
To aap inke channel par jayie kul 10 ya 15 videos mai saari baate samaj aa jaye gi
I bought a bike worth 1.3 lakh in 2012 when my salary was just 22k. The memories I made on that bike and the happiness it gave me are far far more valuable then any excel calculation or the money i could have saved. Life is to live, not to just survive looking at excel sheets
Great to hear! See there are many intelligent people who say not to invest on depreciating assets but value of a bike and car cannot be calculated over excels unless you are highly environment concerned and want to end life for polluting world. But as per my theory, if I want a 1.3 lak bike on 22k salary, I would simply not go for bike loan, I wish to manage for few months and save the total or manage from friends, credit card and clear it without interest. I did so for my bike, no loan attached. I feel it's better to pay a personal loan with 1% higher rate than a vehicle loan and hypothecate it loan providers. If I'm looking for car, my source would be a chit fund. In both cases, common is a bit of waiting and acting timely so that I don't get trapped in any sort of commitment. But both car and bike are Paisa vasool. If you think and act as per options available to you to lead a loan free life, you can find the best car that fits you. Not surely like a warikooo
if you survive looking at excel sheets and controlling your spending for next 7-10 years.. life will give you foreign trips and big houses and cars.. if you live life for today .. it will give you loan traps and headaches and you will work more harder for job just to survive in your mid 30ies.
@@ShobhitTechVideo Im in my mid 30s. Enjoyed to the fullest in my 20s also worked hard and still work hard. Have saved as well as enjoyed life. Still ride a 650cc motorcycle and drive an awesome car. love collecting watches too. Earnd and saved enough to buy a house and do foreign trips too. Life is about striving and achieving, not doing excel finance calculations and saving it all in the hope for a better future, which may never come (another covid/ world war). Of course saving is important, so is having fun and spending
@@ShobhitTechVideo seriously not! What is debt for you is lifeline for someone. What is luxury for you is taste for someone. So it's individual decision not surely that who did a video will never get default or frauded
@@wildskyper well i know that.. what i don't understand if someone wants to live life to fullest and live life according to that.. then why click on videos that teach to save money and invest.. and then laugh at the excel calculations shown.. well if someone wants to save money and invest .. excel calculations help in the stock market and life savings..
If this rule were mandatorily enforced in India, more than 50% traffic would automatically have been eliminated 😂
I think at least 70%
India is a democratic country, you cannot enforce anything on personal finance.
@@GODgiftedArttrue and a lot of Thars and seltos would get replaced by Altos 😂
KTM company barbad ho jayega vai😂
90%
I spend around 28% of my pay on my car with no regrets. I am currently working from home sitting all 5 days in same 4 walls and when that 6th day of week comes, I have to have my car on highways.. push them up vibing with punjabi songs and thats how we live, it takes off all the stress of those 5 days and thats how we enjoy life. Its not just a car its an emotion
Totally agree with you bro
Bro baleno lene ki soch raha hu income 70k per month hai or 3to4 lakh le sakta hu cash mai 7.5 lakh ki car hai on road 3.5 lakh ka loan kra lu kya 🤔
Bro baleno lene ki soch raha hu income 70k per month hai or 3to4 lakh le sakta hu cash mai 7.5 lakh ki car hai on road 3.5 lakh ka loan kra lu kya 🤔
@@Fitguyzz_ baleno nahi fronx ya breeza le lo 2-3 lac aur jod kar
I completely agree with you bro, if u won't brought the car after 5years u would have on rear seats of the car with a shawl or blanket with Md. Raffi sahabs song "kabhi kabhi mere dil main khayal aata he"song. 😊
A guy in my neighborhood bought Rs.20L Tata Harrier in his 25K salary 🤣
Lol😂
How?
25k salary se harrier kaise milegi
Baap ka paisa udaana kehte hai
That is called ….Zigra 😂
As per this rule, to buy 10lakh vehicle, we need to earn around 25-26lakh in hand per annum. So in 30lakh ctc you can only afford Baleno😂
This rule makes no sense for tier 2-3 cities and village people who have very little extra spendings. Its only applicable to people staying in metro cities in rented or emi house.
Alto costs 3.5 lakhs? Sir is living in 2008. 😅
Irony is k ye sirji ne magnite lease pe li hui h 25k per month rent pe💀💀
Ok
😂😂😂 5 lakh hota hai
Base model itne ka he aata hai
😂😂
Warikuu is very unaware of the current market prices of the on-road vehicles 😅. Also Maruti Alto abb 6lac ki padti h 😂
Alto base model is for 3.5 lacs and top model is for 5 lacs.
@@udbhavsinghchauhan5359 on road price toh 4lac hi hoga
Warikoo Audi, BMW ke niche baat ni krta 😂😂
@@udbhavsinghchauhan5359Top model alto is 6.2 lakhs
@@udbhavsinghchauhan5359 On road price of top model of Alto is 7 lakhs 😂😂😂😂😂😂😂😂
This video was great...gave a reality check. But is also traumatising because basically these days middle class people won't be able to purchase it on their own if they don't have parental wealth.
Why you dependent on anyone for your desires. Make it /Live it
@@user-po2gh2fk4e sunnke accha laga magar middle class rupiya jama karte karte retire ho jayega job se. Phir Retirement ke baad kiya karega wo jb khaane ke liye teeth he na ho.
One thing he does not highlight is the room rent in the metro city. This above-mentioned rule will be applicable only to those who just use an auto for a 10-minute ride. Whereas most of the Indians live outside of metro cities. Rent/EMI in metro city is 20k avg, whereas outside the metro rent is 7k with better flats, so you can also avail a car for your comfort for the remaining 13k. You have to choose the priority.
Actually it should be calculated against a traveling expanses ,
Eg I live in village , nearest city is 15km away , I need to updown daily and
it takes 30rs for bus daily
Monthly atleast 900 rs
So for me it's always better to buy a bike with an average at least 60km/l
So my monthly petrol cost is 1500 which is just 600 rs extra
And it saves my time 😁 + I take one more parson which contributes half in my petrol so I cost 200 less than a bus 🚌
Actually u are right and u will also get more comfort from Ur own bike u have done a nice decision
.we middle class have to sacrifice many things in our life time
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly
😊
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s your financial advisor or coach, do you mind hooking me up?
The adviser I'm in touch with is *CAROLINA MELINA PHERSON* she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me she strategy works hence my result. She provides entry and exit point for the securities I focus on.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
It depends on everyone's priorities, personal finances and lifestyle. Everyone prefers to spend differently on everything. Someone might want to spend 1 lakh on a phone whereas someone might want to own a big car.
It is always important to visualise and understand the impact of purchase on your own finances and then fulfill your wants.
Excellent illustrations..!
It's an eye-opener for most of the younger executives..
🙏🙂❤️💐
But, the prices of Cars assumed is very less as per the latest pricing... it seems it is assumed for pre owned cars...😅😊
No man u can buy base model of 5star cars like tata punch from 6.9 lakhs onward which is not too much as a mini suv
Thanks for the info. Loved your excel sheet.
Day 3 of asking for more book recommendation
Avi tk ki saari recommend books padh liye ho ?
This video was really useful, thanks warikoo!😊
I have see a lot of your videos. Love how you use excel to create savings, returns and help people become Crorepati.
If you can also share how to produce food and live life in excel, it would be immensely helpful. Thanks in advance
This will also depend on the savings the car would bring on per se commuting charges as well as time in commuting, the family structure, and other personal finance calculations.... budgeting can be done on a bigger picture as well
You are creating more Stress and Anxiety among buyers
Very nice explanation! Thanks! :)
Thank you so much for providing such a knowledge about finance.
Can you please explain what is an economy and how it works ?
7:45 piyush ne saste me nipata diya 😂
Thankyou Sir. Its interesting.
Ankur Sir, thank you so much før giving us gyan on such topics, it indeed helps the commin man, middle class people a lot.
Suggest to also provide some info on how to invest so that Down payment is not a burden but via savings / investment.
I see so many negative comments here, we will understand it only when we are in their shoes. In 2019 I went for a basic hatchback which costed less than 10 percent of my salary. This creates a peace of mind
Wagon r bol bhai
This formula says even with a salary of 5lk per month which is 60 lakhs an year cannot buy a car of 20 lakhs 😢
I really don't get why these fin tech influencers use Western rules all the time. Where the car is half the price and income is 5x compared to our country.
Yes its true. If your annual disposal income is 60 L you should buy 6 lakh worth of car only.
Bro the max salaries being given these days are 70 lpa package. After removing taxes and variable components, they get max 2.5-3lpm. It is brutal out here.
@@dimaagkharabhaimerais Ur logic dead 😅 man we indians (middle class ) are expert in saving my neibour purchased 15lakh creta with 35k salary (obviously he had saving from years ) but this law therefore is invalid for middle class man u can buy a car worth upto 30 lakh with this much salary
@@akshaymundhe8883
If you want to live peacefully then you should have some rules in your life.
Thank you sir ...
It's really very helpful video ❤
First of all Thank you so much ❤ for saving our time and efforts in calculating this before taking any decision. I want to add some minor tweaks in this to enhance this sheet.
1. E.g. In my knowledge, there is not any superbike which gives 35kmpl mileage which might impact calculations.
2. Vehicle Insurance needs to be renewed every year, hence it should also be taken into account. (For cars: 15-20k onwards depending on model)
Hope this is useful 😀
Just one thing y would u even buy a super bike first, if u need these calculations 😂
Great sir it helped me a lot
Great . This was enlightening . On my way to book Audi A5 Sportback for new year ..
😂😂😂😂😂😂
@@dimaagkharabhaimera 😂😂😂
The only problem I see here is the interest rate offered for Car & Bike financing is different, as per industry. From what I understand, finance options for bike are over 10-12%. Maybe some industry experts could proof this. But definite eye opener though!
I went to Triumph Showroom a week ago and asked them regarding financing options. They said the interest rate is 8.2% which I find is reasonable
@@Justforfun-pt5vvJust check the emi value quoted by them and calculate the interest rate
Thanks for sharing 🙏
Thanks for the information and those excels.
This video will help in my future
2nd hand car or Electric car options may be better than new car. Majorly just check whether do you actually NEED a car now?
Thank You Ankur
2nd hand car is best choice for salaried employees. It helps in saving taxes like GST , cess etc . Car should be used for travelling and not for show off
Depends....
If you have cash then its good. If not the finance for second hand car is Through the roof
@@IdlyVadawhy will you finance a second hand car , instead of paying 3 lakhs down payment for first hand car, u wil get second hand car with good condition and chk th car and buy no issues at all ... Keep 20k extra for repairs since it is second hand...u are good to go no need to pay emi rest of ur life
Second hand car is more of headache...u cant guarantee it will break down in roads in night with family...also repairs will cost u around 25-40k
@@anubhavmohanty1736 if u get a less than 4 year old car no issues will b der...and take sm1 who knows about car with u
Would you recommend taking RTI cover on car insurance of a 5 year old car that's costing 27k? Or opt for a higher IDV with insurance premium costing 12k?
Assume that car was invoiced at 8Lacs and the highest IDV available is 5.3 Lacs.
Thank you Sir Warikoo
Nice way to express 7:00 to 7:15 Mr Warikoo
Thank you sir❤
I used to hate this Guy earlier but he gives practical Tips
@warikoo, thank you for such wonderful analysis.
I have one question:
why you advice to limit the tenure to 4 years? Assuming I'm a financially disciplined person, long term 12% cagr return from nifty, wouldn't it be beneficial to just minimise the emi and invest the surplus in the index? (same for the down payment )
I did the calculations and it seems yes it would be beneficial. could you please share your thoughts on this? thank you 😊
So, to afford a Mercedes-Maybach S-Class, I need a monthly in-hand salary of 20 lacs. Great.
that is brand new and not worrying too much on maintenance but if u love it so much get a used one but ya u still need a lot of money
@@prithvirajsainiranjan6240 yeah, second-hand makes sense
obviously lol. s-class is held by super rich businessmen or a-list celebs who are clocking at least 10cr a year.
2L is too less on it's maintenance + fuel costs
Of course, look at people who own one.
Still using my Dad's old Santro from 2008. For me car is just something that takes me from point A to point B.
garibi
Thank you so much for your advice pal but unfortunately neither I have a car nor I have a bike only I believe in public transportation and always prefer to commute in public transport 🤭🙏🌹
What if there is an existing loan(home/education) , should we consider the starting income as (cash in hand-existing emis)?
that is why i bought a used Toyota Etios with my down payment money (2.5 lakh) and since it is a very reliable vehicle, i am more than happy with it.
My friend took a loan and bought 3 lakh RE Bullet and he is in a bit of a financial crunch currently
This is very good
I see many harriers and safaris in my neighbourhood. Colleague with similar pay as mine got suv700. Either they are totally unaware of this rule or those are from sasur ji.
majority get from sasurji as in my area even bank po gets creta and 25 lac cash from sasur ji
They are enjoying the life ..and u are just thinking urself smart and are in depression😂
Next level explanation 🤯 12:47 topic sir
Amazing video
Let me do the reverse engineering and see what Income should I earn that I can buy a BMW X1 Car of around 45 lakhs. 😅
Its amazing
But sir after paying the loan amount doesn't this cost remain only the cost of operation taht is petrol and maintainence and that would be significantly lower i think
I bought a bike of 80000 while earning 12k in 2012. Absolutely no issues that time. So much difference in a Bike and Car buy.
samaj nahi aara ki acha feel karu ki ye video mil gai, ya bad feel karu ki ab car out ho gai
Missed the car insurance, which can also create an increment of 2-5% of ownership cost, if car is being bought on EMI.
This is why financial influencers should not talk about owning cars, especially if they are not car enthusiasts . What a pity.
Owning a car also brings a lot of flexibility if you run a small business.
The cost of time wasted using public transport and the mental stress it brings also results in lost potential.
His theory and chart are valid for salaried individuals and only to some extent.
Even for salaried persons...what's the point in simply looking at Excel sheets and not having fun. I get that you don't have to get a car that's way insane for ur personal income, but getting a decent car to go on road trips and to take your family is far better than what he has said.
@@DrDothraki Owning a car you can't afford will only bring stress to your life. You can't exactly have fun if you are paying 34% of your monthly income just as car payments, how are you going to pay your house loans, your grocery expenses, and your bills after that? With all that, will you have anything left to go on that road trip you are talking about? Well, "you" in here isn't assuming your specific case but a general person in the above Excel sheet. The best way for someone earning 6 lakh income is just to go for a used second-hand car. You shouldn't dream of getting a new car unless your income is above 10 lakhs, or you won't have money left to do other things in your life.
2 lakh ki salary wale 60-70 lakh ki gadi leke ghum rahe h bhaishab
@@jazzyjazzy903 at a time ek emi rakho simple,
super useful
Sir I saw your picture of 2002 you have amazing experiences in your life about study abroad can you make videos on this topic ❤your loving subscriber Krushna
Sir I bought breza on TDR, and I am paying interest of 50.000 every alternate month. I don't have any responsibility. But only i knw is to give minimum to bank.
Pls explore cng fuel option... it has better mileage when it comes to tata icng cars...
I bought a brand new Hyundai Xcent second base model in 2017. It costed me 6.30 lakh...after that I spent another 1 lac in customising the car. At that time my salary was just 27k. Got carried away. I took a car loan of 7 years.. Squandered a lot of money.
It's your Life make it large
Enjoy what you want
Thanks wariko
When you say monthly income, is that a net amount after exclusion of your main expenses (like home loan, monthly provision, Insurance etc....)
@warikoo why are we also not considering persons yearly salary increment too in the calculation?
I think the rule should be made 50:4:10 and as the saying goes dont buy something unless you can afford it twice, so we literally need to have the entire money saved in the form of cash to make a down payment of 50% and that also easily. Cz nobody would like to save for 10 years for a car. So the entire sum should be accumulated in 2-3 years to make that 50% down payment
Need trumps all.
Buy the car you need, even if it's expensive.
Buy only the car you need, even if you can easily afford a more expensive one.
Hi Ankur, thanks for this video, it was helpful. Just want
to highlight you to correct $102,405 amount to INR102,405 mentioned in green box
I bought an Alto 800 in 2020 lockdown at 4.20 lakhs. My monthly income is not more than 30K in any case. I have been using my car to treat and rescue animals since 2021 which i otherwise would not have been able to.. my run is 400 Km per month. It's giving more dividends than the excel sheet
Too good
My company offers flat 22% of discount in any car with 4yrs of lease plan and the car wound be under your name only. I brought xuv700. 😊
I can afford a small car but i have invested it in stock market hoping i can retire a few years earlier
my rule is simple, spend 6 months of take home salary on car. Thats's it. Either get a smaller car or a used car, or increase your salary
Is is sensible to have the full car cost in your account but still take out the loan and invest the remaining (apart from downpayment) for the same period of time?
Only and only, if your gains (after tax deductions) are greater than the extra money (interest on loan amount + GST) you gave to a bank or financed party for a vehicle.
I actually 😢 understand u are right
My father were working from last 20yrs (principal at gov school) he buyed nios for our family after too much saving it was very happy moment but man you are right man
It's a great car! Nothing wrong with a Nios. All the best
If you are the only earning hand in your family and dont have your own house ...then it is very difficult for you to buy a car even with the 50000 salary
Please make next videos ideal lifestyle rich and successfull people follow and habits or routines for daily life
💙💙💙💙💙
I applied the same ratio and bought a kwid 2015 make for 2.70.000- downpayment of 60k- 2,10,000 loan - EMI (5900 for 51 months)... rest in peace🎉
Good ❤❤
Appreciate it
Wanted to get brezza top model getting salary 19 thousand how to calculate?
Can you kindly let me know how to get the Excel Sheet. Am unable to find out from comments. And also ignore all the unnecessary comments because personally I feel you make sense of who wants to live life peacefully.
What about if person have mulitple bikes and loans?
For example:
Already have 2 bikes with 35kmpl, Monthly traval 704km = 2100/- petrol + 500 maintance cost for both bikes
Home loan EMI 35,000/-
And monthly salary 1,20,000/-
Can I affort car in this case?
It's not about money we also think about our safety 😊
For Alto example, you were supposed to take 20% of the car price as down payment. Instead, you took 20% of annual salary which is wrong 😀
Also, with 6L income a yr n with this math, even Alto isn’t affordable. Need to consider all the other expenses😀
Yes man but with 6l salary u can afford a tata punch or nios if u save hardly for 4-5 yrs
That is right if salary is just 6L priority should not be car.. unless you are settled. And family has everything not dependent on you and you have no emi or anything to worry about.
This was epic 😂
Please make a video for afford a house that value is 3 crore rupees
Why do you need 3 cr house ?
I hope sir aap answer denge..
Aap. Ke sare video me rich ya grow krne k liye ya to mutual fund me invest krne liye bataya he ya stock market, par muje isme kuch b na samaj aata he na kuch pata he. Sir kya in dono chizo k alava esa kuch b nai he jo hume rich kre. Ya jisse hum extra saving kr ske
Plese sir answer kriega
My monthly expenses on travel is around 8 to 10k should I buy a car or go for old car
I have been looking for such a video for a long long time, really appreciate your efforts in this video, Thank you so much.
I’m also looking forward to time spent in having fun & work along with going out on vacation which will be highly productive .
Please share your view on buying car through FD OD. If I have good amount of FD and avail od limit on the same. At the end of year almost interest nullified and I just pay EMI amount just to recover my FD. Please share your suggestions on it. 😊
Sir how i can start sip with 15000 salary please tell how and where I want invest I mean through app or agent
great ! sir : )
Now people will fight on proving this that.. here’s the thing, everyone have different life , someone can buy a car at age 22 , someone live whole of their life on rent. So, find a balance and spend per priority.
The excel sheet link isn't working. Could you reshare?
But a person with 50K/month shouldn't go for a car worth 6L.. at least a sensible person..
I remember when my salary was at that range, I bought a car worth 2.5L, on loan.. with an EMI of 5k.. drove that car for almost 8 years.. maintenance cost was there but I used to have an RD of 2K/month which always helped me with insurance and maintenance cost..
The shared Google Sheet link is no longer working. Do anybody understand how he calculated the 'maximum loan amount possible' in the backtracking sheet?