How Much Salary Is Needed to Afford a Luxury Car in India (e.g., BMW, Audi)?
BUYING A LUXURY CAR (eg. BMW, Audi) IN INDIA IS PRETTY MUCH CHALLENGING IF YOU HAVE TO ENJOY IT ON E.M.I. WITH CUTTING SOME OF THE PERCENTAGE FROM YOUR MONTHLY INCOME HERE, ARE SOME OF THE FINANCIAL DO’s AND DON’T TO FOLLOW FOR GETTING RID OF FUTURE PROBLEMS RELATED TO MONTHLY PAYMENT OF EMI AMOUNT LIKE,
•YOUR MONTHLY EMI FOR BUYING A LUXURY CAR SHOULD BE 10% OF YOUR TOTAL MONTHLY INCOME WITH A 20% DOWN PAYMENT WITH 4-YEAR LOAN RULE (20-4-10).
•ACCORDING TO THE DATA MENTIONED ABOVE SAYS THAT 20% OF THE TOTAL PRICE OF THE CAR SHOULD BE YOUR DOWNPAYMENT.
•ACCORDING TO THE DATA MENTIONED ABOVE SAYS THAT YOUR E.M.I. AMOUNT SHOULD BE 10% OF YOUR MONTHLY INCOME.
LIST OF LUXURY CAR BRANDS IN INDIA WITH SALARY NEEDED TO BUY.
(Salary Is Needed to Afford a Luxury Car in India)
-
BMW 3 Series
-
•Price: ₹70 lakh
- Down payment (20%): ₹70 lakh × 0.20 = ₹14 lakh
- Loan amount: ₹70 lakh – ₹14 lakh = ₹56 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹1.4 lakh/month
Required monthly income for BMW 3 Series : ₹1.4 lakh × 10 =
₹14 lakh/month
-
Audi A4
- Prices: ₹60 lakh
- Down payment (20%): ₹60 lakh × 0.20 = ₹12 lakh
- Loan amount: ₹60 lakh – ₹12 lakh = ₹48 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹1.2 lakh/month
Required monthly income for Audi A4: ₹1.2 lakh × 10 =
₹12 lakh/month
-
Mercedes-Benz C-Class
- Prices : ₹65 lakh
- Down payment (20%): ₹65 lakh × 0.20 = ₹13 lakh
- Loan amount: ₹65 lakh – ₹13 lakh = ₹52 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹1.3 lakh/month
Required monthly income for Marcedes Benz C Class : ₹1.3 lakh × 10 =
₹13 lakh/month
-
Jaguar XE (₹75 lakh)
- Down payment (20%): ₹75 lakh × 0.20 = ₹15 lakh
- Loan amount: ₹75 lakh – ₹15 lakh = ₹60 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹1.5 lakh/month
Required monthly income for Jaguar XE : ₹1.5 lakh × 10 =
₹15 lakh/month
-
Volvo XC90 (₹1 crore)
- Down payment (20%): ₹1 crore × 0.20 = ₹20 lakh
- Loan amount: ₹1 crore – ₹20 lakh = ₹80 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹2 lakh/month
Required monthly income Volvo XC90: ₹2 lakh × 10 =
₹20 lakh/month
-
Lexus ES 300h (₹85 lakh)
- Down payment (20%): ₹85 lakh × 0.20 = ₹17 lakh
- Loan amount: ₹85 lakh – ₹17 lakh = ₹68 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹1.7 lakh/month
Required monthly income Lexus ES 300h: ₹1.7 lakh × 10 =
₹17 lakh/month
-
Porsche Macan (₹1.2 crore)
- Down payment (20%): ₹1.2 crore × 0.20 = ₹24 lakh
- Loan amount: ₹1.2 crore – ₹24 lakh = ₹96 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹2.4 lakh/month
Required monthly income Porsche Macan: ₹2.4 lakh × 10 =
₹24 lakh/month.
-
Range Rover Velar (₹95 lakh)
- Down payment (20%): ₹95 lakh × 0.20 = ₹19 lakh
- Loan amount: ₹95 lakh – ₹19 lakh = ₹76 lakh
- EMI for 4-year loan at 9% interest: Approx. ₹1.9 lakh/month
Required monthly income for Range Rover Velar : ₹1.9 lakh × 10 = ₹19 lakh/month.
WARNING – The above-shown data may vary just because of a round calculation figure, fluctuation of prices, etc., without proper research and calculation. Salary Is Needed to Afford a Luxury Car in India need some more precautions like Avoid Over-Leveraging, Check Loan Terms & Interest Rates, Emergency Fund and etc.
Conclusion- This is conclude that salary is needed to afford a luxury car in India is around ₹8 Lakh to ₹20 Lakh. Make sure to include other costs like maintenance and insurance in your budget. By being smart with your money and taking the right precautions, you can enjoy your dream car while staying financially secure.
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