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Want to buy your dream car on a low salary? Follow these 5 smart tips
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News18•18-10-2026, 14:55
Want to buy your dream car on a low salary? Follow these 5 smart tips
- •Assess your salary and expenses properly before buying a car, ensuring the loan EMI does not exceed 10 to 20 percent of your take-home pay.
- •Understand the total cost of ownership by factoring in fuel, insurance, registration, and maintenance beyond just the ex-showroom price.
- •Choose a car model based on your practical daily needs, family size, and driving requirements rather than for luxury or show-off.
- •Take multiple test drives on different roads and involve family members to thoroughly check comfort, engine, and safety features.
- •Compare offers, discounts, and exchange deals across different dealerships to save thousands of rupees on your purchase.
Key Questions Answered
Your car loan EMI should ideally not exceed 10 to 20 percent of your total take-home salary, and the loan tenure should be kept to sixty months or less. Financial experts also recommend ensuring proper budgeting for overall expenses.
The total cost of ownership goes beyond the ex-showroom price and includes fuel, insurance, registration, tax, and maintenance costs. Keeping these monthly expenses within twenty percent of your salary prevents your budget from overflowing.
Better deals, discounts, and exchange offers are typically available during festivals or at the end of the year. Comparing quotations from different dealerships and negotiating extra charges can help you save thousands of rupees.
