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Can middle class afford luxury cars?
A person whose Income Tax Return (ITR) is of around 15,00,000/- INR , can afford a down payment of 8,00,000/- INR, EMI of 79,632 and monthly cost Of ownership including fuel expense of 17,564 can afford a Luxury Car in India.
Which luxury car should I buy in India?
Here is the list of top 10 luxury cars available in India.
- BMW M5: An excellent vehicle of the sports sedan category, BMW M5 is priced at Rs.
- Mercedes-Benz E-Class:
- Audi Q7:
- BMW X3:
- Mercedes-Benz B-Class:
- Ford Mustang:
- Jaguar F-Pace 2020:
- Volvo XC90 2020:
Is it worth buying a luxury car in India?
Lose less money: The first few years is when cars depreciate most in value and a luxury car definitely loses a considerable amount of its market worth….Got 18 lakhs? Decide Between a New OR a Used Luxury Car.
| BMW 3 Series (320d) | Volkswagen Jetta Diesel |
|---|---|
| Engine Oil and oil filter replacement Rs. 10,000 | Engine oil and oil filter replacement Rs. 4,600 |
Is it worth owning a car in India?
Never. We find it difficult to even imagine. Because availing loans at high interest rates, to buy luxury items & depreciating assets, is never advisable. Similarly, in the case of car as well, the idea should be to buy it for emotional reasons within our budget limitations, but without loan.
How can I afford a car in India?
When buying a car on loan, make a down payment of 20\% of the vehicle’s price. Opt for a loan tenure that is not more than four years. And lastly, keep the monthly payments (EMI, maintenance, etc.) to 10\% of your salary. Select the right car size: Select the right car based on your usage.
Can anyone buy Mercedes?
So, yes, people do buy Mercedes-Benz cars in India, more so than any other luxury automobile brand available in the market.
At what salary can I buy Audi?
Audi Finance Car Loan Eligibility
| Car Value | Criteria | Salaried |
|---|---|---|
| Car Value upto Rs 10 lacs | Loan to Value | Upto 90\% |
| Car Value Rs 10 lacs to Rs 20 lacs | Age | Minimum age 21 years old |
| Income | Gross annual income of at least Rs. 5.00 lacs | |
| Job Stability | Minimum 3 years |
How much can you afford to buy a luxury car in India?
A person whose Income Tax Return (ITR) is of around 15,00,000/- INR , can afford a down payment of 8,00,000/- INR, EMI of 79,632 and monthly cost Of ownership including fuel expense of 17,564 can afford a Luxury Car in India. I have elaborated the above figures in detail in this answer.
What are the new models of Mercedes Benz luxury cars?
For mercedes benz luxury cars, there are 3 new models. Mercedes Benz S-Class, Mercedes Benz CLS and Mercedes Benz AMG GT are among the most popular cars in this price segment.
What is the EMI of luxury cars by Mercedes Benz?
* You would be amazed to see the customization options in finance schemes in Luxury Cars by Mercedes Benz where a same EMI of 79,632 can be reduced to 55,000 without changing the tenure and loan amount. An ITR of 15 Lakhs with regular income, no liability and clean track of previous loans can easily get the loan of 32,00,000/-.
What are the most popular Mercedes Benz cars?
Mercedes Benz Luxury Cars For mercedes benz luxury cars, there are 3 new models. Mercedes Benz S-Class, Mercedes Benz CLS and Mercedes Benz AMG GT are among the most popular cars in this price segment.