[blue_pulsar]

Hi folks, An interesting thought crossed my mind.

1) When in your life did your first car? That is, out of your own savings after you started to earn. Driving dad's car in college is a different thing altogether. But, I'm sure each one of us have fond memories of our first cars, be it a second-hand M800 or a Padmini. The feeling of "my" first car is unbeatable.

2) Is car buying your first priority as opposed to buying property or investing like a traditional Indian does?

3) When do you suggest first time buyers to buy a car? E.g, after a year after starting to earn, after 2 years or immediately after starting to earn?

4) I see some people earning in lakhs monthly and still drive(or chaffeured around in) an M800/Alto/Santro/Zen. And I also know some people who have multiple cars at home, with each car having a car loan. They spend a huge chunk of their salary on monthly EMIs. Some even sacrifice on basic needs for the heck of owning many cars at home. What out of the two extremes do you prefer?

I hope this makes for an interesting discussion. Each one of you have very different responses to the above point. Thats what makes the discussion interesting IMO. Thanks for your time!

[PatienceWins]

1) I bought my first car in 2003 after 6 months of getting into my first job. It was a 3rd hand Santro as I could not afford a new one. Though I was the third owner it was precious to me because of the "first car" feeling. I pampered her a lot and by the time I sold her in 2007, most of the parts except the engine were replaced. My friends said I am mad to spend a lot on a third hand car as I would not get a good resale value. But the heart ruled over the brain all along.

2. Buying a car is the first priority after taking care of the basic needs of the family and having enough money in store for unplanned expenses. I am possessive about my car and did not want to have a loan on the car. I bought it with my own money.

3. I would suggest a person to get car after he gets married. It is difficult to manage without a car once you have a family to transport. It also depends on how badly the person wants to have a car and how much he earns initially. In bangalore, I think many people travel in bikes because of traffic chaos and rent out cars for weekend travels with family eventhough they could afford one.

4. It depends on a persons outlook and his earning capacity. Some people place more importance on status than just satisfying a need or living in peace of mind. I do not belong to either categories. I have gone for a car which is within my budget, satisfies my need of a city commuter and do not put much strain on my other commitments.

[Torque123]

I bought my first car (Swift VXi with ABS) in Aug 2006. It was my first ever vehicle purchase since i didnt even have a 2 wheeler during my college days. I loved this car so very much that i had changed the front skirting thrice, Left side skirting and right side skirting once in a span of 17 months (total cost is 35k - 7k per skirting in A.s.s).

I sold the swift in Dec 2007 and trust me it was a very emotional scene. For so many days i felt like something in me was missing and i could not see the 2nd owner driving away with my car infront of me. But i had to bear with it as i was buying my 2nd car.

In Jan 2008 i bought my 2nd car (Ford Fiesta 1.6 SXi) . Now i was all smiles. But even now i still miss my first car so much that Whenever i see a swift it reminds me of my 1st car.

[lamborghini]

1) When in your life did your first car?
I still haven't bought my first car. Would like to once I save up enough money to do so instead of taking a loan.

2) Is car buying your first priority as opposed to buying property or investing like a traditional Indian does?

Yes, as we already have a house. However, I would still keep some cash aside for unseen expenditure.

3) When do you suggest first time buyers to buy a car?

Whenever I have saved a bit over my car budget.

4) I see some people earning in lakhs monthly and still drive(or chaffeured around in) an M800/Alto/Santro/Zen. And I also know some people who have multiple cars at home, with each car having a car loan. They spend a huge chunk of their salary on monthly EMIs. Some even sacrifice on basic needs for the heck of owning many cars at home. What out of the two extremes do you prefer?

We have 4 cars at home at present. All have been bought on loans. However, we haven't sacrificed our basic needs for the cars nor do we spend a huge chunk of our money on them. We will only buy a car if we can afford to maintain them and maintain ourselves without any sacrifices.

[ramki067]

Okee.. here are my views,


1) I bought my first car just months ago.. and true, the first car feeling with your hard earned money is most satisfying. I had never driven cars before and this was the first car in our family too. So, everybody are rejoicing the experience.

2) YES. This car i bought was against clearing all loans that my parents did because i was so exited to own one!!!

3) Depends on their interests. If crazy like me to buy then God can only help to withstand him against buying a car.

4) Oh ho! i think you should have your basic needs to be satisfied first and then only when you have that EXTRA that its ok to buy on loan and manage the family also. Nowadays i feel getting a car is not a big deal but maintaing the family as well as a car smoothly month after month should be given a thought!


Ramki.

[clevermax]

Originally Posted by blue_pulsar

Hi folks, An interesting thought crossed my mind.

I hope this makes for an interesting discussion. Each one of you have very different responses to the above point. Thats what makes the discussion interesting IMO. Thanks for your time!

Interesting thought... Here are my answers

1) I bought my first car when I was 6 years into my career, but before getting married. (Of course I wanted to have at least a car of my own before my wedding he he)

2) Of course it was. Buying a property, that too in a place like Bangalore is very difficult. I'll end up paying EMIs for the rest of my life....

3) Depends on the earnings... Some guys in IT field can afford to have a car even from the first year of their career...


4) Earning in lakhs per month, and still driving around, or rather moving around in 800s or Altos is bullshiit. They are of those kind, who believes in saving every penny of today for some quality life which they envisage (but will never happen) in the future.

I believe that among one's worldly possessions, the CAR reflects one's personality the most. So I will always buy / use car's that speak about my personality. Forget about driving around in tin-boxes.

[simonkayar]

1) When in your life did your first car?
I bought my first car a few months back in full cash out of my own savings. I had a goal that I should buy my first car before I turn 30 and I did it comfortably. It was a very emotional moment as it was the first car in our entire family (my and wife's siblings included)

2) Is car buying your first priority as opposed to buying property or investing like a traditional Indian does?
It depends, I got my house first as I felt house prices go up and car's come down so it was more of a financial decision.

3) When do you suggest first time buyers to buy a car?
It depends on the individual, but sooner the better, especially if you have a kid.

4) If I have enough money I would own 3 or 4 cars but then it is a financial decision for me. I will certainly buy another car for my wife in another couple of years but not before beefing up my investments (money, land). A car is still a depreciating liability and has to be dealt with care especially if taken on loan. They might add a glamor value but eventually will fade out like a mirage.

Happy Driving !!

[SkyWalker]

1) My first car was bought with dad's money. I was still studying then, and dad paid in full. It was a white 800, which we kept for 10 years back in my hometown Kochi. Dad recently sold it in 2007 and bought a Santro. My first car from my own money was a Palio 1.2 which i bought in early 2002, and i still keep. I was planning paying the entire money in cash - but the finance guy convinced me to put only 2L and take loan for rest - very low interest he said. I did that , and put the rest 2.6L into stocks. A great decision in 2002

2) Buying a car is no longer a luxury in India. Its quickly becoming a need. Unless there are other pressing needs probably a family should have a car even when they are on rented property. I bought my first car in 02 and my apartment in 03.

3) If their parents can afford it why not in College itself? When they are earning, I would put the needs as a basic car first before property.

4) I try to be bound by cold hard logic when it comes to car - you ain't what you drive. At the same time, comfort and safety are important - and why buy an 800 if I can afford a City without stretching my finances? As a rule, I will never purchase a car >1/3 of my annual earnings. Also all my cars were keepers - we kept the 800 for 10 years, I had the Palio for 6 years and going strong. I am buying a second car now coz we need 2 cars.

[mail4loys]

1) I bought my first car (Ford Ikon 1.6 nxt) in July 2005 and is still doing great, must had taken to lots of long drives.

2) I never had buying a property as an option, so didnt really think of it.

3) Deponds on the earnings that a person has

4) If a person can afford and has necessity to buy an expense car then he can buy it. But it should be his own interest!

[tamojoym]

1)I bought my first car a primier padmini 3rd hand in 1999.It was a great car .
2)After my third car I bought a property ,then again I bought my fourth car after buying the property .
3)Depends totally on the person and his earnings and when he is ready for it .
4)I would prefer to drive my own car anyday than being chauffered around .

[alto99]

1) When in your life did your first car?
Nov 2000, 1.5 years after I started work.

2) Is car buying your first priority as opposed to buying property or investing like a traditional Indian does?
Car is not a investment its a liability. In no way can it be compared to investment.
Can be compared to the need of buying a house to be self occupied. I would say that if you have a family and travel a lot then car is a must. If traveling is occasional then home.

3) When do you suggest first time buyers to buy a car? E.g, after a year after starting to earn, after 2 years or immediately after starting to earn?
After considering 2, whenever they have saved enough and can afford the EMI.

4) I see some people earning in lakhs monthly and still drive(or chaffeured around in) an M800/Alto/Santro/Zen. And I also know some people who have multiple cars at home, with each car having a car loan. They spend a huge chunk of their salary on monthly EMIs. Some even sacrifice on basic needs for the heck of owning many cars at home. What out of the two extremes do you prefer?
First the second extreme (cutting down basic needs) part of question and I should say it is insane to do so.
Now the first extreme that you mention is not even a extreme. What about people who earn in lakhs/month and don't even own a car - or bike for that matter? I have seen such and its like asking why do you still have a CRT TV at home when you earn a lakh per month and can easily afford a LCD/Plasma (may be even one per month haha)? Or yet another one - you dont own a digital camera even though you earn a lakh a month?
The answer to this is "owning a car of price proportionate to his/her income" is not the only thing in his/her life. There is life beyond cars...

[rajatkumar]

1) When in your life did your first car?
My first car is Swift VXI - White, bought in March 2008, almost 1.5 years after I started work!

2) Is car buying your first priority as opposed to buying property or investing like a traditional Indian does?
Simply put, shaadi se pehle masti karne ke liye gaadi chahiye thi! Car is not a investment its a liability. But I allowed my heart to rule over brain, and went for it.

3) When do you suggest first time buyers to buy a car? E.g, after a year after starting to earn, after 2 years or immediately after starting to earn?
You must have enough money every month to live ur life peacefully after paying EMIs... if this is true, you can go for the car!

4) I see some people earning in lakhs monthly and still drive(or chaffeured around in) an M800/Alto/Santro/Zen. And I also know some people who have multiple cars at home, with each car having a car loan. They spend a huge chunk of their salary on monthly EMIs. Some even sacrifice on basic needs for the heck of owning many cars at home. What out of the two extremes do you prefer?
Owning multiple cars.... sounds strange, that too if they are on loan! I guess I'll prefer owning a simple small car

[throttleking]

Not the car but my journey started with yamaha rx135, i started earning when i was just 19 yr old, bought my first bike yamaha rx135 in 2000 when i was 21, bought my second metal piece Royal Enfield Bullet in 2004, bought our first ever house, in 2004 and then i bought my first ever car WagonR Premia in 2005, sold the WagonR in 11 months and bought Ford Ikon in 2006, sold the Ikon in one year and bought Chevy Optra Magnum 2.0

i strognly wish to own Safari, lets see what happens next

[VBV]

1) When in your life did your first car?

After about 3 years of working. I learnt driving in my car and was the first car I drove. It is a Zen, bought it second hand. Yes, you're right, I will always have pleasant memories of it.

2) Is car buying your first priority as opposed to buying property or investing like a traditional Indian does?

Its not my first priority, but yes, if I don't have a car and a house to live, I'd rather live in a rented house and buy a car.

This is probably because I feel much more positive about the future than most people do. And I think a house or a property should be bought when you're in your prime and not earlier.

3) When do you suggest first time buyers to buy a car? E.g, after a year after starting to earn, after 2 years or immediately after starting to earn?

Depends, on how much they earn. I would suggest that they do not spend more than 50% of their taxable total income per year on a car. If this amount gets a car, then there's no harm in buying one immediately after starting to earn.

4) I see some people earning in lakhs monthly and still drive(or chaffeured around in) an M800/Alto/Santro/Zen. And I also know some people who have multiple cars at home, with each car having a car loan. They spend a huge chunk of their salary on monthly EMIs. Some even sacrifice on basic needs for the heck of owning many cars at home. What out of the two extremes do you prefer?

Somewhere in between. As I said before, my benchmark is 50% of CTC salary pa should be invested in a car once in four years. Anything more than that is done only when money comes easy.

VBV

[redfire]

I started my journey with a used RX100, when I started earning a small amount. Bought a brand new Pulsar in 2002 after I got a new job and was settled OK for 3 years. I bought my frist car, new Indica on 2003 when I was positioned better in my job and started to earn enough to meet the EMI's of Indica. Now they are replaced with a Bull 500 and a Swift. Now, though I can manage a bigger car, I am satisified with these vehicles as they serve the purpose as my family is a small one with my wife and kid. May be, down the line after 4-5 years, I may upgrade to a better car.

BTW in my opinion, go for a car only when you feel it is needed. If you are single and can manage with a bike, go for it. When you start to earn good money, and as you go higher in your job and family status (marriage, kids) go for an affordable car. Car is not actually an investment, for me.