Indian IT pros don't buy flashy cars

[Tech]

Good companies buy cars for their employees. Why would any body buy cars then ? In our company at Sr level nobody spends their after tax earnings on cars. Company bears the cost or if you do not take it then you get the cash after tax. It's your money so Sr level employees go in for company cars. And the listed cars are not at all flashy. Highest is a Corolla. Even though a 3 yrs experienced person can own it, still company standards are also in line with this thread's heading.

Basically some Indians feel that too much flaunting can cause them to risk their lives or their loved ones lives. Kidnapping issues happen only to rich people mostly. So some prefer to play safe. So why flaunt at the first instance?

However overall the Indian society is moving towards American way of living. Soon we'll see more Porshe's, BMWs and Lamborghini's on the streets. You never know as well. In Singapore owning cars is quite costly. They make people prefer the MRTs (their Metros). Plus high taxes on 5yrs + cars. Indian population is already quite high so imagine the mess it will create on Indian roads. Future is quite uncertain. So people prefer to be more sober.... Besides flaunting is only to feed your own ego. It's nothing more than that. Nobody else is normally bothered what wheels are you driving on the roads.

[vivekiny2k]

Originally Posted by sbasak

That's why people head to overseas

and that's why business heads to offshore, because of low cost manpower.

[1100D]

Originally Posted by CrAzY dRiVeR

Taking my old 800 to 100+ speeds was so much fun! It really made you feel like the king of the world. While some of the bigger cars i have driven dont even let you know you have exceeded 100+ speeds.

BUT, braking from 100-0 (m800) was a different story altogether.

A Bajaj RE electronic, will get one the same thrill at 60kmph, on top of it, is also a convertible and in having the engine at its hindside, is the 911's first cousin.

[vivekiny2k]

Originally Posted by GTO

WHOA! Is that common? If it is, that is bad money management....Even as a car enthusiast, spending such a huge amount of my income toward a new car (EMIs included) is a bad decision to me. Simply because a car is nothing but a cost. Or a depreciating asset. I would never spend more than 10% of my net income on a car.

that's probably because a safe, moderately luxurious entry level cars starts at 4L. if one needs a good entry level car, 4L is standard, regardless of hows much s/he earns.

[nanu28]

...I am an IT PRO and I own a RED SKODA vRS.
So does that go against the topic...???

[Torqy]

Originally Posted by 1100D

A Bajaj RE electronic, will get one the same thrill at 60kmph, on top of it, is also a convertible and in having the engine at its hindside, is the 911's first cousin.

At those speeds it is also INVERTIBLE.

[Spitfire]

Originally Posted by nanu28

...I am an IT PRO and I own a RED SKODA vRS.
So does that go against the topic...???

Yes it does. But what the heck. Its your money.

If i had the money i could have been driving a BMW X5, to hell with the flashy bit.

[tomythomas]

Originally Posted by diabloo

This is the article that started the discussion & people are

Some points from the article

1. This article is about, "Top-level people working in IT companies in India draw salaries that are at par with their global counterparts" and not about entry-level, middle level people.
2. Flashy cars mean "Mercedes, Beemers or Audis"
3. Non-flashy cars are, "Corollas, Ambassador, Suzuki Swift, Ford Fiesta"
4. Reason 1 from Infosys, 'It is not that these executives cannot afford luxury saloons, but they feel it is not right to travel in these cars, especially when their bosses use simple cars.'
5. Reason 2 from Infosys, "Indians generally tend to drive compact midsize cars due to poor infrastructure conditions in the country. Moreover, higher degree of taxes on foreign vehicles in India and stratospheric maintenance costs are deterrents"
6. Reason 3 from Infosys, "A high-end car is an easily noticeable symbol of wealth and Indians generally don't like to flaunt. They might be buying less noticeable things like expensive villas or real estate in many locales, they might be connoisseurs of other expensive items like art or they might be taking trips abroad... At the end of the day it his personal choice."

1. Most of us are from middle class background.
2. Not very comfortable with driving flashy cars in Bangalore traffic :( I am more comfortable in driving around in Bangalore city with my Palio GTX compared to Civic which has to be treated with extra care and attention :(
3. Many opt for investing for the future generation rather than enjoying themseleves which is typical of middle class background!

[1100D]

IT people do not really earn as much as they are thought of to be earning. They just get a good start thats all.

[RajaTaurus]

Originally Posted by 1100D

IT people do not really earn as much as they are thought of to be earning. They just get a good start thats all.

Thats the point. just a good start with a big pay check is not sufficient to get loans nor is enough to maintain 'flashy" cars,(in addition to those extravaganza expenses they are kind of forced to do, like discos, week-end outs, dresses, shoes, mobiles, girl-friends, beer and else...!!).

[deepanonline]

FOlks

my point is like than most of IT guys, People in sales & marketing(in middle or senior management) go for such flashy cars.

Two reasons

1. Good Salary package with sudden incentives

2. ofcourse fuel bills payed by company :-) and in some case, car allowance is given every month in such a way where you can even pay the EMI & petrol bill every month.

[csentil]

IT guys don't buy flashy cars is very true. Well atleast the vast majority don't. I've been working in this industry for 10years+ and even senior management doesn't buy an expensive car easily (does expensive car translate to flashy car?)

I think I repeated this, I'm not even middle management and until the last month I had the most expensive car in office. There are atleast 150 people who earn more than me in my company and only one of them has a Pajero. The rest make do with Innovas, Accents, City, etc..... And I'm talking about a company close to 800 employees.

Also my whole complex has 6 companies or so. Again the most flashy car there is a Benz and that's because Daimler has an office here !!! Otherwise its Civics & Skodas at the max.

Which company by the way gives so much of an allowance that you can cover the car EMI? You are talking about atleast 2 lakhs+ as Perks for car alone. Only senior level people get that kind of perk.

By the way there's something called FBT (Fringe Benefits Tax) which has forced a lot many IT companies withdrawing such perks from their employees or if they are given then they are taxed accordingly !!

Originally Posted by deepanonline

FOlks

my point is like than most of IT guys, People in sales & marketing(in middle or senior management) go for such flashy cars.

Two reasons

1. Good Salary package with sudden incentives

2. ofcourse fuel bills payed by company :-) and in some case, car allowance is given every month in such a way where you can even pay the EMI & petrol bill every month.

[deepanonline]

Senthil,

i work for a security software firm as regional manager-TN & Kerala. With my firm any one who joins in sales from junior level to senior level in sales team gets 2.16p.a as car allowance..

But what u say is true.. it majorly depends on the person.

Even in our team there are people who saves that entire money and goes in rick.

at the same time people like me use it fully and also pay something from the pocket :-)

Here Flashy Cars means Civic, Cedia, Pajero - its simple...any flashy car which goes on for its performance and not mileage/resale value

[diabloo]

By the way how much do these IT pros earn? So that they can buy flashy cars?

[speed_devil]

I dont think an IT pro getting around 6lakh p.a can afford flashy cars. Thats why most of them stick to B segment cars.