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How To Buy a ₹12 Lakh Car for FREE — Ultimate Car Finance Guide 2024

Original: How To Buy ₹12 Lakh Car for FREE🚘| Ultimate Complete Car Finance Guide 2024 | Money Purse Podcast

290.1K views · Jul 06, 2024 · 16:00 min · Watch on YouTube ↗
Takeaway

Don't buy a car on emotion or peer pressure — fund the cost via disciplined long-term investing so the asset is effectively 'free' over time.

Summary

  • Frames buying a car as a depreciating-asset decision and warns against peer-pressure / FOMO-driven car loans (friends buying cars, lifestyle inflation).
  • Walks through total cost of ownership: EMI, fuel, insurance, maintenance, parking — not just sticker price.
  • Shows how to 'effectively get a car for free' by parallel SIP/equity investing that compounds to cover the car cost over the loan tenure.
  • Advises buying a car only after the equivalent amount is invested or income/networth thresholds are met, and choosing a car within 25-50% of annual income.
car loanpersonal financeSIP
Original description
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Ultimate Car Finance Guide: How to Buy a Car for Free Using Investments | EMI & Finance Rules Explained

Welcome to our ultimate car finance guide! 🚗💰 Are you looking to buy your dream car but worried about the financial burden? In this video, we’ll show you how to navigate the world of car finance smartly and efficiently. From leveraging investments to understanding EMI and finance rules, we’ve got you covered.

What You'll Learn:
1. How to Buy a Car for Free Using Finance Hacks:
Discover the power of smart investments that can potentially pay for your car. We'll walk you through various investment strategies that can help you accumulate the funds needed to make your car purchase virtually cost-free. Learn how to make your money work for you, so you can drive off in your dream car without financial stress.

2. EMI & Finance Rules on Car Purchases:
Understanding EMI (Equated Monthly Installment) is crucial when financing a car. We'll break down how EMIs are calculated, the role of interest rates, and the key financial rules you need to know. Whether you're taking a loan or considering other finance options, this segment will equip you with the knowledge to make informed decisions.

3. Exclusive Car Affordability Calculator:
Knowing what you can afford is the first step to smart car buying. We’re sharing an exclusive Excel sheet designed to help you calculate your car affordability based on your income, expenses, and financial goals. This tool will provide you with a clear picture of your budget, ensuring you don't overextend yourself financially.

Topics covered -
- Car Finance Tips
- How to Buy a Car with Investments
- EMI Rules for Car Purchase
- Car Affordability Calculator
- Smart Car Financing Guide
- Best Ways to Finance a Car
- Car Loan Tips and Tricks
- Understanding Car Finance
- How to Get a Car Loan
- Investment Strategies for Car Purchase

Download the Excel Sheet: https://telegram.openinapp.co/money-purse

Stay updated with the latest tips on car finance, investments, and more by subscribing to our channel. Don’t miss out on future videos that can help you achieve financial freedom and make smart purchasing decisions.


#CarFinance #BuyCarFree #InvestmentStrategy #EMIRules #CarAffordability #FinancialFreedom #CarLoanTips #SmartCarFinancing #CarBuyingGuide #InvestmentsForCar

Thank you for watching! We hope this guide empowers you to make the best financial decisions when purchasing your car. Drive smart, stay informed, and enjoy the ride! 

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Team Money Purse

What is in for you?
00:00 Introduction
01:10 What do you want to buy the car?
02:33 Which type of car you wish to buy? And can you Afford it?
04:23 Affordability Calculation
05:51 Cost of Operation and eligibility
07:15 What about 20-4-10 Rule
11:19 Total cost of Owning the car
12:17 The Best option to buy a car