Buying a Car

POSTED BY waris ON January 13, 2013 3:20 pm COMMENTS (4)

My querry is as follows:
I want to buy a car for my family.The cost may be 4-5L.
I have 50K in my currently running RD and 80K in MFs(SIP).I can arrange aroound 40K cash also.
Plz advice me how much loan shall i take.
I am 28, married .

4 replies on this article “Buying a Car”

  1. Credexpert says:

    Dear Waris,

    The answer to query would depend on your monthly budget and the long term goals you have set in your life. We would advice that you avail a loan amount – the repayment of which will not hamper your finances.

    Regards,
    Credexpert

  2. 85% of the on road price of the car will be given as loan by ,most lender incl SBI

    Consider buying a second had car (SBI has schemes for this).

    That is what will be given How much you can take depends on your personal situation:
    expenses other emis other goals etc.

    you can check this calculator to see why a second hand car is better

    http://freefincal.wordpress.com/think-before-taking-a-car-loan/

  3. waris says:

    I think there are some issues in the website for IE9.
    My querry is as follows:
    I want to buy a car for my family.The cost may be 4-5L.
    I have 50K in my currently running RD and 80K in MFs(SIP).I can arrange aroound 40K cash also.
    Plz advice me how much loan shall i take.
    I am 28, married .

  4. Dear Waris, what’s the query.

    thanks

    Ashal

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