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Old 10th April 2007, 13:12   #151
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Tata Indica DLS - 2 nos. (Age group 35 - 52)
Tata Indica Xeta - 1 no. (Age 32)
Hyundai Santro - 2 nos. (Age 28 and 24)
Maruti Wagon R CNG - 1 no. (Age 35)
Honda City ZX - 1 no.(Age 30)
Honda City Type1 - 1 no. (Same owner as above)
Ford Ikon Flair - 1 no. (Age 30)
Fiat Palio 1.6 - 1 no. (Age 23)
Maruti Esteem VX - 1 no (Age 30)
Maruti Van - 1 no. (Age 35)

In my office, the third level juniors own the cars highlighted in bold above. We did not follow the hierarchy rule and we fall into 20 - 30 age group.

Edit: Its easier to analyse since we have a small company. I can even list out the bikes that people own .

Last edited by moralfibre : 10th April 2007 at 13:14.
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Old 10th April 2007, 13:21   #152
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In a small company like yours, its even more difficult NOT to follow the Hiererchy rule. Thats because almost everyone is known to each other.
However your data is surprising. Does show that times are changing. Maybe things like increased job security in private sector(in comparison to say a decade ago) and rapid growth of IT sector are contributing factors.

Last edited by DCEite : 10th April 2007 at 13:24.
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Old 10th April 2007, 13:24   #153
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Default My two cents

I'm an IT professional too, let me share my thoughts.

One doesn't pine for something one has never seen nor experienced.

Exposure breeds motivation
Indian IT professionals have more exposure to the world at large, than professionals in other fields.
They have addressed the global market since long before the late prime minister Rajiv Gandhi outlined his vision 2000.
In the early years, there was much more overseas travel than in these days of instant electronic connectivity.
And the developed world, all over the globe, from Canada and Scandinavia to China and Japan recognizes India's significance on the world's IT map.

More than Indian businessmen, medicos, lawyers or civil engineers, it is the IT professional who has experienced first-hand,
two-door coupes and convertibles, V-8s, pickup trucks, California sin-bins, SUVs, lowriders, 4x4s, utes, drag races, ...
the car culture as seen in Canada, USA, Australia and continental Europe.

It is this exposure that might make him more likely to desire the same back home.

So it stands to reason that, it is the IT professional more than anybody else, who would be motivated to spend his income on an automobile, higher priced than basic transportation.

What is a flashy car?
By flashy car, I presume we mean a dark gleaming car, that comes across as being ostentatiously or vulgarly smart, tastelessly showy. I would qualify this as a shining Asian hatch wearing impossibly large chrome alloys on starved low profile wide tires. A bone jarring ride with dark velvet upholstery, gaudy colored lighting inside and under the car
and a hammering stereo playing acid rock or techno music at decibel levels that can shatter window panes. Strong lilac barber's perfume would complete the image.
The automotive equivalent of a transparent black lace shirt, white trousers and white leather shoes.

So what?
IMHO, the people to splurge on flash, are more likely to be the people who make easy-come-easy-go black money.
The nouveau riche thugs, bhais and politicians, the showbiz film and media industry, builders, restaurateurs, loan-sharks and financiers and integrated combinations thereof.

The quintessential IT professional lands his hot paying job after maxxing his/her examinations, spending many semesters in diligent study and clearing a gruelling set of interviews. He is more likely to show restraint, class and taste.

With the element of "Be'n there, done that!", is that the type of person to lust after flashy cars as described above?

Comments?

Ram
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Old 10th April 2007, 13:31   #154
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excellent post Ram.

by the way, your description of a flashy car sure forgives anyone who has the money but does not go for above described flashy car.
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Old 10th April 2007, 13:44   #155
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I totally agree with your 2 cents ram, it can't be put in a better way than that...
For me, flashy car has nothing to do with the pricetag of the car...otherday saw a RR in RoyalOrchid, it looked very sober but at the sametime we quite often see the modded Altos and Zens zooming around which looks quit flashy...

Abhi
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Old 10th April 2007, 13:45   #156
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While writing about the way IT professionals spend their money on cars, let me put here how employees of the CAT logistics division do so. Incidentally, both my firm, as well as the above mentioned firm share two sides of the covered parking lot.

Merc E class (2 - one silver, one black)
Honda Accord (1)
Toyota Camry (1)
Ford Fiesta (2)
Ford Ikon Flair (1)
Santro xing (1, with physical mods done)

Less number of cars here, but check out the quality in there !!
Interestingly here, most of these guys fall under the 30 - 35+ age groups.
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Old 10th April 2007, 13:49   #157
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Quote:
Originally Posted by hell_rider View Post
excellent post Ram.

by the way, your description of a flashy car sure forgives anyone who has the money but does not go for above described flashy car.
It is not only the money to buy it but you should be satisfied to maintain it as well....otherwise the car might become a burden to u...

In india I feel your car's maximum on-road price should be typically 30-35% of your annual income... then it will be VFM under your income and u will be satisfied maintaining it...

Abhi
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Old 10th April 2007, 14:23   #158
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Quote:
Originally Posted by akroy View Post
In india I feel your car's maximum on-road price should be typically 30-35% of your annual income...
Quote:
Originally Posted by ram View Post
What is a flashy car?
By flashy car, I presume we mean a dark gleaming car, that comes across as being ostentatiously or vulgarly smart, tastelessly showy. I would qualify this as a shining Asian hatch wearing impossibly large chrome alloys on starved low profile wide tires. A bone jarring ride with dark velvet upholstery, gaudy colored lighting inside and under the car
and a hammering stereo playing acid rock or techno music at decibel levels that can shatter window panes. Strong lilac barber's perfume would complete the image.
The automotive equivalent of a transparent black lace shirt, white trousers and white leather shoes.
What I understood by flashy (as meant in this thread):
If a guy earns 1 crore/annum, buying a 30L-35L car is flashy. Buying < 10L is not flashy. So buying a 2L car spending another 2L on wachy modification won't qualify as flashy. Correct me if this assumption (wrt this thread) is wrong.
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Old 10th April 2007, 14:53   #159
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Quote:
In india I feel your car's maximum on-road price should be typically 30-35% of your annual income...
Gross or net income?

Usually one can easily go for 50% net of annual income without much financial burden.
However, for young IT pros, I'll rather advise them to invest in real estate before buying a flashy car. In 2-3 years, your resale value from property will buy you the dream car free of cost
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Old 10th April 2007, 15:06   #160
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Quote:
Originally Posted by sbasak View Post
Gross or net income?

Usually one can easily go for 50% net of annual income without much financial burden.
However, for young IT pros, I'll rather advise them to invest in real estate before buying a flashy car. In 2-3 years, your resale value from property will buy you the dream car free of cost
Net Income I mean
I agree to your suggession to the new comers!!! That is how we middle class think about their hard earned money....Pehle Ghar fir Gaddi...

Real estate rocking more than cars these days...more so in Bangalore...

Abhi
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Old 10th April 2007, 15:31   #161
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Quote:
Originally Posted by akroy View Post
Real estate rocking more than cars these days...more so in Bangalore...

Abhi
Dont be so sure about that.. there is an oversupply building up slowly and prices wont go up forever.
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Old 10th April 2007, 16:24   #162
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Quote:
Originally Posted by akroy View Post
That is how we middle class think about their hard earned money....Pehle Ghar fir Gaddi...
I thought otherwise. Pehle Gaadi phir ghar dekha jayega . I know it is stupid to do so but I know many others who did!
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Old 10th April 2007, 18:14   #163
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Quote:
Originally Posted by moralfibre View Post
I thought otherwise. Pehle Gaadi phir ghar dekha jayega . I know it is stupid to do so but I know many others who did!
Count me in .....................
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Old 10th April 2007, 18:17   #164
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Adya, I never said they should. I asked why they don't.

No one seems to be getting the point I'm making, so I think I'll quit.
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Old 10th April 2007, 18:48   #165
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Talking Mamu theory by Jaggu

Quote:
I am interested in thoughts members may have on this topic. I am basically trying to find out what kind of thoughts go through your head when you have to spend your own hard earned money on expensive cars. Do IT pros think differently or is it the family background that influences your choice.
My views:
2 kinds of individuals

Mamu's 1: who believe in making wealth and thats their priority, have this feeling that they have a shelf life and have to create wealth for themselves, family etc. For them priority will be capital assets and rest are expenses that dont add wealth, depreciate etc

Mamu's 2: who believe in wealth as well as living it out, one who will go for the better things his wealth can afford. buy a house but why not have a good car also, flashy or otherwise, why not the latest PDA for that matter.

This is it, 1 & 2 in different proportions will give you any one under the sun IT or NON IT individuals.

Again there are new breed of people in other streams, say in finance stream, consultant/specialist docs etc who are capable of good earning power, so IT is just a part of the specimens we are taking in our experiment

Another point, higher "salaried" people means less evasion from IT from salary, though they are smarter to again use their wealth to make more money using other options, like markets and investments etc etc

WRT hierarchy, again depends on the culture of the company also and i truly dont believe any supre senior guy (in his right frame of mind) will question a person who buys a better car than him if they can afford the same, though its the stupid indian mentality of "maska chaska" "nazar na lage" very unprofessional approach i say, which created this guilt scenario for some falling in my original category of mamu's 2

For me at the end of the day, if i have earned it and i need to live it also (Mamu 2), but yeah am also equally worried about my future and always keep a buffer in place, atleast now after marriage

To end it from my side: we indians are truly very complicated mamu's at the end of the day

Last edited by Jaggu : 10th April 2007 at 18:49. Reason: oh... i am so jobless today :)
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