Team-BHP > Super-Cars & Imports in India


Reply
  Search this Thread
58,508 views
Old 21st June 2019, 13:39   #16
Distinguished - BHPian
 
Join Date: Jan 2015
Location: Chennai
Posts: 1,824
Thanked: 8,476 Times
Re: Dream Car Fund - Do you have one?

All I have is a car maintenance fund, for the day when the Torque Converter Automatic gearbox on my used A Star develops a problem (God forbid) or for the day when my Mahindra TUV 300's turbo needs expensive repairs. If none of these events occur, the interest that my money parked in SBI's Overnight Fund will earn (thanks to Smartcat for suggesting this fund) will finance a change of tyres for the TUV in 4 or 5 years. And because it is a liquid fund, I can withdraw it anytime for unexpected repairs without incurring any exit load.

If I were you though - wanting to buy a Ferrari, I would rather attempt to generate extra streams of income. I'd try to become a top grossing YouTube star or an Instagrammer. I'd also have a blog on the side. Why? Top YouTubers like Jenna Marbles or Casey Neistat make a minimum of $400,000 a year. While it is true that only 1% make it to that level on social media, you also need to be in the top 1% to own a Ferrari, don't you?

Here's an afterthought - I doubt if you will ever succeed at saving enough for a Ferrari by just investing Mutual Funds. 30% of Equity MFs have underperformed when compared to PPF in recent years and the rest of the majority don't grow all that much either. Where there's rip-roaring growth, there's a tremendous risk involved too. And the worst thing with MFs is you can't forecast a huge dip either.

I'll tell you what could work through the investing route; a good friend of mine is active in buying/selling stocks. He targets small listed businesses after studying them or talking to them. While the risk is higher in following this strategy, the higher risks have paid off for him and he has a 1 Crore portfolio today of which a huge part comprises capital gains and he began with an input of approximately Rs.10 to 15 lacs. In this style of investing, you would have a direct view of any impending risks or dips in the market and you can book gains or cut losses well ahead of time - whereas with MFs, you're just riding out different market conditions passively. It took him 20 relentless years to achieve this. He doesn't own a car, by the way. Frugality is also part of his success equation.

Last edited by locusjag : 21st June 2019 at 14:03. Reason: Grammar + An afterthought
locusjag is offline   (5) Thanks
Old 21st June 2019, 13:48   #17
Senior - BHPian
 
AMG Power's Avatar
 
Join Date: Mar 2017
Location: BLR
Posts: 1,045
Thanked: 6,940 Times
Re: Dream Car Fund - Do you have one?

Quote:
Originally Posted by Naman_Ferrari View Post
Will definitely update you in a few years :-)
Preferably after marriage and two kids.
AMG Power is offline   (7) Thanks
Old 21st June 2019, 13:50   #18
BHPian
 
revsperminute's Avatar
 
Join Date: Nov 2018
Location: Navi Mumbai
Posts: 321
Thanked: 1,223 Times
Re: Dream Car Fund - Do you have one?

Yeah absolutely. For me it's a V12 Ferrari. I think smart investments help gather such a large sum of money. I'm 17, so I think if I can assign a certain percentage of my income from the day 1 of my career and invest it in SIPs etc, I'll be able to afford one in the first 10-15 years without financing. The game totally changes when you see the dirt-cheap leases, loans that are available in other countries. The idea of owning an exotic car seems a LOT more approachable in developed countries. It also takes a strong will. If you're saving up $300,000 for that dream car, there is going to be a point where you will have $100,000 ready at your disposal. It's tough to convince the mind to not "settle" for something like a 911 or a M5.
revsperminute is offline   (3) Thanks
Old 21st June 2019, 14:08   #19
Distinguished - BHPian
 
Join Date: May 2010
Location: Bangalore
Posts: 1,886
Thanked: 11,831 Times
Re: Dream Car Fund - Do you have one?

Quote:
Originally Posted by revsperminute View Post
The game totally changes when you see the dirt-cheap leases, loans that are available in other countries. The idea of owning an exotic car seems a LOT more approachable in developed countries.
This is actually pretty practical advice, seems to me like the realistic thing to do to be able to own and enjoy a really exotic car like a Ferrari or a Lambo would be to move to and work in a city in the US or the EU where such vehicles are more common and can be obtained and properly used by people who are not necessarily politician's sons!

Last edited by am1m : 21st June 2019 at 14:09.
am1m is offline   (4) Thanks
Old 21st June 2019, 14:47   #20
BHPian
 
Join Date: Jun 2019
Location: Banana Republic
Posts: 279
Thanked: 1,139 Times
Re: Dream Car Fund - Do you have one?

Different Strokes for Different Folks!

3 different cars worth 20lakhs over a period of 10 years or one supercar worth 1 crore after 10 years. Well not exactly but you get the drift. I belong to the former. I can't see myself sitting around saving for a decade to buy something which may not be available or may not even appeal at that point of time. I'd rather buy a good car in the present and enjoy it for what it is. Life throws curve balls, things change and a bird in hand is always better than two in the bush.
Also, cash is king. I'd rather have the car on a loan and the cash invested in an appreciable/liquid asset.
yd_gli is offline   (7) Thanks
Old 21st June 2019, 15:08   #21
Senior - BHPian
 
McLaren Rulez's Avatar
 
Join Date: Dec 2007
Location: Mysore
Posts: 3,379
Thanked: 4,994 Times
Re: Dream Car Fund - Do you have one?

A slightly different perspective - owning a sports car might not live up to the pleasure that you expect. After the initial thrill of acquisition, the joy of having one might quickly diminish - mainly due to the general driving infrastructure in India.

If your dream is a sports car, perhaps it makes more sense to save up for track day experiences/driving holidays abroad etc.?
McLaren Rulez is offline   (5) Thanks
Old 21st June 2019, 16:08   #22
Senior - BHPian
 
fine69's Avatar
 
Join Date: Dec 2008
Location: New Delhi
Posts: 1,591
Thanked: 1,467 Times
Re: Dream Car Fund - Do you have one?

Is the idea to spend majority of your investment in a sportscar? I'm not sure if that's such a good idea.

Don't get me wrong, I'm nobody to tell anybody how to live their life but if it was me, I'd rather buy a place that has secured parking before I decide to buy a sportscar. But then I'd also build an income flow that's sustainable and regular servicing cost doesn't keep me awake at night.

Car ownership is not just about being able to buy a car, that's the easy part. It brings along its own set of problems and but those don't bother us till the time we have the time & money to deal with them.

A sportscar garners a lot of attention. In fact a bhpian's black/dark blue Jaguar was keyed just because someone could. Imagine leaving your sportscar in a mall parking lot and coming back to see it keyed in.

If I was going to buy a Ferrari then I'd spend a great deal of my time hitting the track. Random burnouts and track days would mean new set of shoes more often, that'd mean significant money. Then comes the probability of totaling it on the track, insurance isn't going to pay for it.

What if someone rear ends me, even if insurance covers the 'how much', 'how long' it takes to get the bumper repaired or replaced is going to be another story?

I was driving a 5 lakh rupee car till 2016 and then moved on to owning a 30 lakh rupee SUV. While regular maintenance cost didn't change drastically but I could change all 5 tyres for my Swift for 24k and if I do the same for my Fortuner it costs me anywhere between 60-70k.

My idea of owning a sportscar or supercar or even my humble Fortuner is that consumables, wear n tear, fender benders etc. shouldn't keep me awake at night.

Someone recently broke my car's taillight, the damn thing costs 15k but if minor issues like these affect my pocket then the joy of owning a car goes out of the window.

I've always bought all my cars cash down because if I can't afford to buy it in one go then the part n parcel costs that come with it would bother me way too much along with an EMI.
fine69 is offline   (8) Thanks
Old 21st June 2019, 16:36   #23
BHPian
 
Join Date: Nov 2011
Location: Bangalore
Posts: 221
Thanked: 600 Times
Re: Dream Car Fund - Do you have one?

Well, I have both a Dream Car and a Dream Bike in my bucket list, and am making my investments accordingly to be able to hopefully afford both within the next 10 years. Former being a Range Rover and the latter being a Ducati Multistrada, both being high on practicality and usability in Indian conditions.

And yes, I am just about 6 years older than the OP, with a wife and kid to boot.

Last edited by pavanmadhini : 21st June 2019 at 16:37.
pavanmadhini is offline   (2) Thanks
Old 21st June 2019, 16:52   #24
Newbie
 
Join Date: May 2019
Location: Mumbai
Posts: 20
Thanked: 38 Times
Re: Dream Car Fund - Do you have one?

Awesome thread

5 years back I had an urge to own a German machine and I was saving up for a Octavia vRS. I had saved enough by 2016 and I came across an opportunity to buy a VW Jetta 2.0 TDI from unsold repository. I had the money in hand and leverage to bargain! I ended buying the VW Jetta with just 7k on the ODO for a steal. What a buy and what a car. Lesson learnt: you save up for something and you never know when an opportunity would arise with a sweeter deal!

My work took me to Australia for a couple of years. While there I drove the Abarth 124 spider along the coast line between Melbourne and Sydney with my wife. With the wind in my hair, sea by the side and beautiful motor underneath, to this day, it happens to be the best drive of my life. Lesson learnt : you never know where the life takes you and helps you fulfill your dreams.

I am saving up all the time. If lady luck is on my side I would like to get myself a pre-worshiped Porsche 911 Turbo someday
WIMR is offline   (4) Thanks
Old 21st June 2019, 17:04   #25
Senior - BHPian
 
humyum's Avatar
 
Join Date: Feb 2006
Location: Mumbai
Posts: 2,747
Thanked: 5,416 Times
Re: Dream Car Fund - Do you have one?

Subaru Impreza WRX STI

Ever since I was 19, I saw one and thought to myself, I will get one someday in life, as fanatical as it may sound, I went to UK and studied there, rented her a few times in 4 years, came back to India, worked my way up to reach a stage where in I can move out of the country, with one of the central aims being 'I will migrate to a country where in I can buy a Subaru Impreza Wrx Sti'.

In a year or two, this might will be fulfilled, Yes it has been a long wait and YES, it sounds weird too that a desire for a car is making me move to another country, but hey, dreams are just like that, unexplained
humyum is offline   (5) Thanks
Old 21st June 2019, 17:10   #26
Senior - BHPian
 
Join Date: Jul 2015
Location: Chennai
Posts: 1,353
Thanked: 5,687 Times
Re: Dream Car Fund - Do you have one?

Naman_Ferrari!

Congratulations on having a goal and taking steps to fulfill them! I assure you, it will add a bit of meaning to your life until you accomplish this goal!

The best decision you have taken is to start saving up/investing. Even if won't be able to buy one immediately, this fund will certainly aid in paying off for other commitments and you will soon be able to give focus back to your original goal! After all, the power of compounding is on your side at the age of 24!

All the best 👍
Turbohead is offline   (4) Thanks
Old 21st June 2019, 18:19   #27
BHPian
 
saurabh2711's Avatar
 
Join Date: Feb 2010
Location: Pune, Bhopal, Indore
Posts: 350
Thanked: 680 Times
Re: Dream Car Fund - Do you have one?

I only had dreams of owning two cars
1: Safari .. my childhood crush. I own an EX, due to availablity of vitamin M in 2010.
2: if ever to states, own a Yucon Denali or Ford F150. Would have loved to lease a top end.
The first dream was fulfilled 9 years ago and then I took a home-loan. Rest is history.

As others have clearly suggested how life flows for a salaried class in India (want to highlight specially if you are in IT and somewhere in middle management tear) : the second one, I see no chance of me visiting states, so I have burried that dream once and for all. I can foresee turbulent times ahead for me.
I am enjoying what I have already acquired and that should be it. No funds for me now, all will go in repayment of current liabilities. :(

Apologies if my post is off topic. Can be deleted if required.

PS: Don't go by my signature. Aria is my brother's and everything else is inherited.
saurabh2711 is offline   (4) Thanks
Old 21st June 2019, 18:44   #28
BHPian
 
Join Date: Apr 2019
Location: Nagercoil
Posts: 26
Thanked: 63 Times
Re: Dream Car Fund - Do you have one?

Dream car fund? Perfect!
And here's me already making plans on how to save up, doing countless calculations even though my college days.

As for me, I feel that the perfect sports car for India would be the Porsche 911 gt3 coupled with a manual transmission.Or even the recently announced Porsche Cayman gt4 available exclusively with a manual would do perfectly
Quote:
Originally Posted by revsperminute View Post
The game totally changes when you see the dirt-cheap leases, loans that are available in other countries. The idea of owning an exotic car seems a LOT more approachable in developed countries. It also takes a strong will.
This is perfect advice for someone who really wants to own an exotic *me*. Being in a developed country makes the whole process a lot easier.
Quote:
Originally Posted by batish View Post
Don't mean to dishearten you but by the time we'll be able to afford it somehow, they'll be all electric.
Boy Oh Boy!! Depressing thought indeed. I used to be worried about whether NA petrols and manuals transmissions would exist. But now, it seems I have to worry about the existence of any internal combustion engine powered cars
dr_davis97 is offline   (2) Thanks
Old 21st June 2019, 19:02   #29
Senior - BHPian
 
Join Date: Mar 2005
Location: Trivandrum
Posts: 1,749
Thanked: 3,204 Times
Re: Dream Car Fund - Do you have one?

Two dream - one that looks increasingly unattainable and one that is possible. The first being a Porsche 911 and the second being a hot hatch (truely hot not warm). Not bothering a dream fund for the first but keeping enough ammunition primed for teh second just in case!!

I always had something for hatchbacks! Little packages with big hearts delivering a punch that their size belies. At the same time being economical about the space they occupy and provide comfortable yet not extravagant occupation. So much so that the Golf R32 back in 2006 was my wallpaper.

I am still waiting for that hot hatch that marries great performance with acceptable compromises. The launches Focus ST, the Golf R, Golf GTI, Polo GTI (5 door), the Hyundai i30N, Swift Sport all have me poring the fine print for any indications of an India launch. I am still hopeful. Do I have a fund for cars? Not really but I have kept all my current buys below the 10 lakh range so that I can fork out a bit extra for that dream hatch that makes it's appearance.

Drive on,
Shibu.
shibujp is offline   (1) Thanks
Old 21st June 2019, 19:13   #30
BHPian
 
Thermodynamics's Avatar
 
Join Date: Aug 2017
Location: Bengaluru
Posts: 832
Thanked: 4,130 Times
Re: Dream Car Fund - Do you have one?

Wheeler dealers season 1: Mike Brewer comes to Kolkata buys a used Maruti Suzuki Alto and sells it for a marginal profit, buys a used Indigo and sells, buys a 2000 ambassador and sells. So on and so forth he wheeler deals again and again until he buys Porsche 911 Carrera Convertible. Link

Ever since I saw this episode, the 911 has become a dream. Certainly we can not do what Mike did but the show has inflicted a perpetual itch.
Thermodynamics is offline   (1) Thanks
Reply

Most Viewed
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Copyright ©2000 - 2024, Team-BHP.com
Proudly powered by E2E Networks