Скачать или смотреть Buying New Car VS Old Car 🚗

Please note the below assumptive calculations:
Cost breakup of new car:
Cost = 6 lacs
Down Payment = 1 lac
Loan = 5 lacs
EMI: 10,000 rs

Cost of fuel:
Assumption: Rs 80/L for fuel which increases by Re 1 every year
Average mileage of 12 Km/L
Per kilometer fuel cost would be Rs 7 in the next 5 years
Average travel per week is 500 Km

Cost of maintaining a new car:
Year 1 =0
Year 2= 6,000 and then on increase 10% every year

Insurance cost:
Year 1 = Rs 18,000 and then on it would increase by 5% every year

Cost breakup of old car:
Cost = 4 lacs
Down Payment = 1 lac
Loan = 3 lacs
EMI: 7,000 rs

Cost of fuel:
Assumption: Rs 80/L for fuel which increases by Re 1 every year
Average mileage of 8 Km/L
Per kilometer fuel cost would be Rs 11 in the next 5 years
Average travel per week is 500 Km

Cost of maintaining a new car:
Year 1 =10,000 and then on increase 10% every year

Insurance cost:
Year 1 = Rs 18,000 and then on it would increase by 5% every year

This calculation can be modified based on real time scenarios, however as per this example buying a new car saves more than old car.

Disclaimer: not a financial advise. Only for educational purpose
Source: ET Money