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Old 26th November 2007, 17:26   #256
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Originally Posted by diabloo View Post
So a guy who earns 6L must spend 60K. For 60K, you will get a 150CC bike.
I would say that would be the prudent thing to do.... salary is not for just buying cars.
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Old 26th November 2007, 19:11   #257
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So if I want to buy NHC, for which EMI is 15,000 for 5 years, my CTC should be 25 lakhs
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Originally Posted by gkrishn View Post
I would say that would be the prudent thing to do.... salary is not for just buying cars.
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Old 26th November 2007, 19:19   #258
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Originally Posted by tsk1979 View Post
I think you misunderstood. What GTO means is that he would not have car EMI be more than 10% of his monthly salary.
I think that is very low, it is more like 20% in Indian situation.
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Old 26th November 2007, 19:31   #259
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If you are a DINK or DISK you can afford an expensive car.

DINK - Double Income No Kid

DISK - Double Income Single Kid

However in an office of around 800, till recently I owned the most expensive car and I'm not even at the management level. Someone's got a Pajero now, damn !!
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Old 26th November 2007, 19:50   #260
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Originally Posted by diabloo View Post
So if I want to buy NHC, for which EMI is 15,000 for 5 years, my CTC should be 25 lakhs
By the time the person reaches that sal... he would have loads of saving. I was saying that for that particular year. So... any way i had spent between 10-15% of annual sal towards emi for 3 years, partly because of low interest rate.

Some where in a US web site have read that when you make a new purchase, the price can be upto 50% of annual sal.

Last edited by gkrishn : 26th November 2007 at 19:52.
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Old 26th November 2007, 21:25   #261
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There was a time I was very interested in crackers (when I was a kid) - Since I belonged to a middle class / lower middle class family, I did have my fair share, but not in abundance, as I would like to have. I used to think, when I start earning, I'll buy a lot of crackers for Diwali and have fun.

By immense Grace of God, I do earn well, much more than an average person of my age would - But, I have lost interest in crackers. Every year I buy and I give it away to kids around and sometimes watch them have fun. Last year I didnt strike a match! This year thanks to my mom's persuasion, I went out and burnt away some hard earned money. It is not that I resisted my interest or kept my senses in control - The interest just died away.

Why did I write this? Because, I feel, one day, I'll lose interest in the automobile stuff too. It seems impossible now, but losing interest in crackers was even more improbable 10 years ago. So, I feel, if I can indulge in something, and I can afford, even if it means stretching, why not?

When my colleagues where buying entry level, 100 cc bikes with maximum fuel efficiency, I bought Fiero as soon as it was launched -just out of my college. I then swapped it for a Karizma a couple of years later. All my relatives/cousins, couldnt believe I spent almost a lakh on a bike. I loved every moment of the time I spent on the Karizma - Early morning drives, drives to Nandi Hills - I used to take the bike out in the rains, especially if it rained after midnight, and have coffee in MG road (Bangalore). My interest in bikes may go, but the moments are etched in my soul. I can never forget my first 110 kmph (Fiero) and 120 kmph (Karizma)

I happen to be an IT guy, which is a misnomer. It is like telling I do manufacturing. (what?) - I love software as much as I love driving, and I am confused as to why I get paid so much for what I do. I'll write software for free

Same way, when I wanted to buy a car, my budget allowed something like a Alto / Zen. I bought a 1.6 Ford Ikon ZXI (SXI model was then withdrawn and all the features (Alloy wheels, CD player etc where shifted to ZXI model).

I travel a lot, and whenever I travel to US, I change my rental cars every week or once in two weeks - I have driven huge number of cars Chevy Aveo, Kia Spectra, Toyota Corrolla, Ford Mustang (I kept it for 1 month), Chrysler Sebring Convertible, Infiniti G35 (2 days on personal funds! Too expensive as an office car), Pontiac Grand Prix, Chevy Malibu, Chevy Impala (list goes on...)

After driving many 200+ BHP cars (and even 300+ BHP (infiniti)), the Ford Ikon 1.6 manages to put a smile in my face - Every time I drive! An awesome investment from my view.

It does not matter IT people or not - I feel Indians are not very confident of themselves and are worried about future (nothing wrong about that). My friends may have 25L in their bank accounts, but I have an equivalent set of experiences, which may make me richer!

Living life to the fullest, need not be being envious, dissatisfied or being greedy. I appreciate even cars that I cannot buy now (except for one rare moment, I let out a rant when I heard the price of a M3). Whenever I need to buy a car again (which is now :-) ), I plan to buy one which will put a wide grin on my face. It doesnt matter if it appears flashy to rest or not. As long as my company need not credit the salary to the car loan account , I'll get the car.


As some one noted in the thread earlier, cars / bikes need not be everyone's passion. But it is important for people to know what they like (shouldn't hide from themselves) and try living life to fullest.

Sorry if I wrote too much. It is almost 1:00 am in S. Korea and I need to wake up early tomorrow. Signing off..

Regards
Sriram

PS:- GTO Sir, I have posted my thoughts in this topic - Thanks for your suggestion to do so.
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Old 26th November 2007, 21:32   #262
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Originally Posted by sriramv.iyer View Post
My friends may have 25L in their bank accounts, but I have an equivalent set of experiences, which may make me richer!
Now, how many of us can say something like this?
You did take time to write this. Didn't you?
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Old 26th November 2007, 21:37   #263
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Only if I can peek into their bank balance
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Originally Posted by Rudra Sen View Post
Now, how many of us can say something like this?
You did take time to write this. Didn't you?
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Old 26th November 2007, 21:39   #264
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Smile Thanks

Rudra Sir: Thanks! I wrote it at a spur of the moment - Nothing much planned.

I used to write a lot more earlier []McGraw-Hill Education - Title
- Now dont find much time to write - TBHP makes me feel at home. So, I wrote a long message.

Regards
Sriram
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Old 26th November 2007, 21:46   #265
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It's nothing to do with your long message or anything. You write well no doubt.

I just mentioned about that thought. Off topic, but I liked it.
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Old 26th November 2007, 21:54   #266
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I feel taking out a loan to buy a depreciating asset is sheer madness !! I bought both my cars with my own money.. But there is a catch, I bought the first one by encashing my PF when I jumped companies .i.e. cashed on potential future savings. My next car is a second hand one.. so going for a loan was'nt really an option.
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Old 26th November 2007, 22:32   #267
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My view is that why would anybody buy a flashy car here ?

Do we have the roads, the service and resale value here ?

Imagine most of these super cars underbelly hitting our speed breakers or even worse an auto rickshaw causing a dent. Most of the drivers here are incompetent and most Indian men ( either with a belly or thick glasses) are not capable of driving beyond 50 km/h

My worst experiences have been that most of these incompetent guys occupying the middle of the road and travelling at 40 km/h. So much for lane discipline. If you ask them, they use vulgar language to reply. Imagine you driving a 20 lacs + car and being abused by an auto driver or a indica driver. So much for our freedom of expression.

Also we are paying double the global price for cars here which eliminates us from buying a super car. A guy who can afford a Accord here will get a BMW 3 series anywhere else !!
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Old 26th November 2007, 22:47   #268
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Quote:
Originally Posted by sriramv.iyer View Post
... So, I feel, if I can indulge in something, and I can afford, even if it means stretching, why not?

... My friends may have 25L in their bank accounts, but I have an equivalent set of experiences, which may make me richer! .

My feelings exactly. I've learnt quite early that money comes and goes. But we keep getting older each day. Time lost won't come back. Its how well we enjoy each day that counts. If we're spending money on what we like/enjoy, that money is well spent, regardless of what we spend it on.

I'm a total skin-flint miser on some things that people may spend a lot of money on. But when it comes to spending money on what I like (esp. it's something that I will enjoy the benefits of, for a while), I go all the way and break my bank balance if needed. I've never regretted doing that. And when money is tight, I go on enjoying the stuff I bought when money was available.

I'm not an IT guy and I really don't earn that much. But I'm not hitched yet, and so that helps
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Old 26th November 2007, 23:16   #269
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Because, I feel, one day, I'll lose interest in the automobile stuff too.
Exactly! When I was a kid, I used to think that when I'd earn myself, I'd eat 10 chocolates every day And now I never did so in reality!

Happiness is getting what you want AND when you want it.

Even if you (not directed towards any individual) can buy a Merc or BMW today, you'll feel the lust for Lambo or Aston Martin. That's the human psychology (won't say it is always bad though).

Driving pleasure doesn't require a flashy or powerful car. It is purely emotional. One can be more happy with an M800 than one with a Porsche.

That's my personal philosophy though
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Old 26th November 2007, 23:23   #270
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Well, don't think most IT guys get that kind of a salary to buy and maintain flashy cars! And the rest who do might not be having an inclination for the same. But I do see very high ranking employees driving mercs and all - i think they might be company sponsored though.
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