All of us dream of owning a luxury car be it a BMW, a Mercedes, an Audi, a Porsche, Lamborghini or even a Rolls Royce.
Assuming that you want to buy a car say X which costs you 40,00,000 on road.
Assuming that the interest rate is roughly 4-5%. {This is relatively lower than your standard car loan rate because of the relatively larger amount}
Also, assume that you are willing to take the loan for say 7 years.
Your easy monthly installment works out to roughly 56,536.
Your yearly installment is roughly 6,78, 432
Considering, that you are smart enough to actually have at least half the value stacked up. {If you don't you don't deserve to buy the car} the average amount available with you is 20,00,000 which is roughly the amount you have saved to purchase car X.
Now investing this in a Fixed Deposit Scheme at roughly 9.5% interest or maybe even 10% the average return on this investment after 7 years is 39,92,990.
Assuming that you pay off your entire car loan through your salary and withdraw your investment after 7 years. Assuming it is taxed at 1% long term gains tax the amount left is 39,53,060.
Therefore, you have merely spent 46,940 to buy a car worth 40 lakhs.
Happy Shopping
Udit Sabharwal { On behalf of Doodle inc}
Assuming that you want to buy a car say X which costs you 40,00,000 on road.
Assuming that the interest rate is roughly 4-5%. {This is relatively lower than your standard car loan rate because of the relatively larger amount}
Also, assume that you are willing to take the loan for say 7 years.
Your yearly installment is roughly 6,78, 432
Considering, that you are smart enough to actually have at least half the value stacked up. {If you don't you don't deserve to buy the car} the average amount available with you is 20,00,000 which is roughly the amount you have saved to purchase car X.
Now investing this in a Fixed Deposit Scheme at roughly 9.5% interest or maybe even 10% the average return on this investment after 7 years is 39,92,990.
Assuming that you pay off your entire car loan through your salary and withdraw your investment after 7 years. Assuming it is taxed at 1% long term gains tax the amount left is 39,53,060.
Therefore, you have merely spent 46,940 to buy a car worth 40 lakhs.
Happy Shopping
Udit Sabharwal { On behalf of Doodle inc}
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