[WindRide]

By "regular joe" did the OP mean the "great indian middle class".
If your monthly household income exceeds Rs.1 lakh you are no longer categorised as middle class (read this recently in TOI).

And Beemers/Mercs are not intended/targeted at the middle class.

Going by that logic, "regular joe"/"middle class" cannot/should not (higher priorities) buy these expensive toys.

[sajo]

A bit OT, but saw this ad on my company's internal portal.

For sale : SX4 VDi. Expected price ,8L. Reason for selling : Buying a BMW X1.

And I know for a fact that the seller is not top management.

[supremeBaleno]

^^^Yep, it is not a big deal (atleast an X1 or 3-series) as it is being made out to be.

All it needs is :

1) Work to earn the dough.
2) Save smart
3) Invest smarter.

While 1 & 2 are pre-requisities to reach the goal, 3 would make it quicker to reach it.

And, this is without rich Dad/FIL/wife or long stints onsite.

[shankar.balan]

one important point to remember is that most of these Fortuners and Civics owned by a working person are typically bought either on company car schemes or through some sort of loan. Mostly these are bought brand new and as someone else said on this thread, the EMI looms large every month.
The same logic holds good in the case of the Luxe marques. People save as much as possible for the downpayment and take the rest on loan - unless they are business people/ consultants etc who can set off the car expense as a business expense/ loss, thereby taking advantage of the taxation laws.
I would personally hesitate a bit, much as I like these cars, because one simply cannot drive them about as a daily vehicle given our horrendous roads, potholes, rash driving and parking woes. Half the enjoyment is gone because one would tend to worry deeply about one's lovely 30-40 lac car parked on the road outside some restaurant on a Saturday night! Imagine some jealous infidel taking a key to the paint! that is such a common occurrence here that one's heart will break if it happens to one's Audi or Beemer. Associated costs of keeping a driver to look after the vehicle etc can be incurred, but this will also have some effect on the overall financials. And the cost of maintenance and spares is pretty murderous, unless of course one is in a position to claim "actuals" from the company/ organization one works for! Think on it - say 50000 per month on EMI + around 10000 per month for driver salary. Straight 50-60K expense. If one has that financial capability, consider if one saves it up and buzzes off say to England or Mainland Europe or New Zealand or South Africa or somewhere for an annual vacation for 2 weeks and rents maybe a BMW 6 series for the holiday + invests in a number of other interesting experiential things while there such as a hot air balloon ride or flying lessons or something. Imagine the fun and the experience and the memories one can generate, year on year!! compare that to the drudge of an EMI and take your pick!
These big marque vehicles are anyway priced much higher here than they are in the International market - that in itself is a massive put off! I think I d be happy with a good holiday once a year to some interesting country with great roads where I can rent one of these cars for the duration of my visit and thus, enjoy it. For my daily India usage I think a common or garden rattletrap is sufficient, as long as it has the essential features I want and gives me reasonable comfort and lots of functionality/ utility value.
At least, till our conditions here improve with better infrastructure etc!
Buying one of these cars from the used market is certainly a very viable option - but it is suggested to do so only through a full down payment instead of taking an used car loan. Else the interest burden will be un-necessarily high.

Originally Posted by sammycoolster

Well.. The answer I guess is yes, Right here in India. I was going through carwale used car ads and I see that handsome cars like A6, A4 etc which have been driven 20k kms and less than 3 years old sell for less than or almost half their price.

I saw a neat Audi A4 for around 21L having run only 17k kms and was a 2009 model. I guess anyone who can afford a civic or fortuner etc should be able to easily afford these badges and the cars are also not bad when you consider how recent they are.

[rki2007]

There are lakhs of Software Engineers and very few BMW/ Beemer are seen on road. This itself shows will techies buy these cars. The answer is no.

Only industrialists/Politicians/builders and developers and businessman can easily buy and as well as maintain it.

[mtnrajdeep]

Originally Posted by Speed Pujari

Forget that, the third floor of my office has Mercedes R&D center (Pine Valley, EGL) .. You guys can come and check the number of benzes in the basement starting from S class to C class. Seems the managers get one each..
A slight OT, I see a black C class there with a Rs. 50 mockery Sparco mud flaps. This shows how deserving the manager is who drives that car.

I was working there 4 years back and have a few friends there now also. These cars are being provided now by the company to all the managers as they feel that the brand image has to be maintained. These are company maintained too. This is a recent trend and I am sure that the managers cannot afford buying these cars with what they are paid.

[bluevolt]

Just to add my further bits on this thread. My brother (works as Asst. Manager in a Japanese multinational chemicals company) told me last evening that his DGM (who is an M.Sc in Chemistry and MBA from an A grade university aged just 39) has purchased a brand new BMW X1. Earlier he was having a Skoda Laura. He also owns a flat in maple crescent Gurgaon.

So it is not necessary for one to be in IT/engineering field to get a 20-30 lakh car. Any regular IT or working professional can get a Beemer/Benz if he wishes.

Even a Senior Govt officer/IAS/IPS can buy a beemer but he certainly will not for the sake of Anna's Bill.

[xtremeshock]

I have not read the entire thread, so sorry if someone has already suggested this.

YES, anyone with an average salary could buy a 3/c/a4, conditions would be:

1. Buy it 2nd hand, preferably a petrol, your primary commute should be a bike or a cheap car like beat diesel.

2. Maintain it only at a reputed private garage

3. Try and pay as much money upfront then take a 3 year old loan.

4. Do not keep it for than 3 years.

Interesting thread. Cheers

[Samurai]

One question though, are you familiar with the service cost of an out of warranty BMW?

[Latheesh]

Originally Posted by xtremeshock

I
1. Buy it 2nd hand, preferably a petrol, your primary commute should be a bike or a cheap car like beat diesel.

Imagine buying a BMW and riding a CT100 everyday to office.

[xtremeshock]

Originally Posted by Samurai

One question though, are you familiar with the service cost of an out of warranty BMW?

Don't know if you are being sarcastic

Anyways, don't know the exact costs, but my Uncle who has one used to pay around 40-50k every year for a 5 series, after he moved to a private garage he is not paying anything more that 20-25k/yr. That is inclusive of major spares being brought down from abroad. But heaven help the average IT-Joe if he has an accident.

Originally Posted by Latheesh

Imagine buying a BMW and riding a CT100 everyday to office.

Lol, and on the bike he should have a sticker "My other commute is a BMW"

[kousik]

Originally Posted by Latheesh

Imagine buying a BMW and riding a CT100 everyday to office.

Heh, if I ever can afford to buy a BMW, I'll still use my Avenger (not as bad as CT100) to office. This Mars' surface like road will cause a lot of wear and tear to the BMW that I can't bear. I'll rather use it for weekend drives.

[vij]

I voted No. If the average IT Joe or even the reasonably affluent IT Joe is sensible he shouldn't splurge the cash.

I was an average IT Joe until I realized I was being limited to being so so so average. I quit my job and decided to start something of my own. Last year I made 70L. I consider it Gods blessing, a miracle really. I feel truly blessed.

Now -
1. I dont have a house of my own, but my dad has multiple ones and I reside happily in one of them.
2. I already have good savings in FD.


The thought of BMW X1 is hitting my senses. I keep thinking about it everyday. But I have not given in to the temptation because

1. I still want a good house of my own, That's priority.
2. Dont want to take things for granted. You never know how things can change.
3. I am not sure about maintenance costs. Also I am not a very social guy. More of a loner with very few friends. Who am I going to show off to. Perhaps it wont suit my image.
4. Do I want the attention. I am not sure.
5. Driving in crowded traffic could be tension filled.

[supremeBaleno]

Originally Posted by vij

I voted No. If the average IT Joe or even the reasonably affluent IT Joe is sensible he shouldn't splurge the cash.

Like many others, you are answering the wrong question. Your answer is to, "Should an IT guy buy a BMW?, which is neither the OP's query nor does does it need an answer given the fact that not many buy a BMW. The question is "Can he/she buy one ?", and well he/she can.

[vij]

Originally Posted by supremeBaleno

Like many others, you are answering the wrong question. Your answer is to, "Should an IT guy buy a BMW?, which is neither the OP's query nor does does it need an answer given the fact that not many buy a BMW. The question is "Can he/she buy one ?", and well he/she can.

I think my answer is relevant. Can someone sell his house, wife and kids and get a 7 series. Maybe... Should he or will he - ofcourse not.

Voting is closed eh... never mind.