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Riya asked 3 years ago

Should I invest in 10 lakh rupees car when my salary itself is 10 lakhs?

Question Tags: Purchase car

1 Answers

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FinMargin Expert answered 3 years ago

I assume, you really want to buy a car out of necessity. If your salary is 10 lakhs then you may end up paying emi for 8 years and the total interest and principal paid by the end of 8 years would be around 60% of the value of your car. Now you decide whether it is worth it or not?