Thinking of taking a car loan? Hold it right there! Did you know that the value of a brand new car depreciates by 20% when you drive out of the showroom! Add to this a 15% depreciation in value each year (assuming normal wear and tear) the govt recommends!
This implies in the first few years and certainly before you pay out the loan the value of the car will be lower than the balance in your car loan!
Suppose you didn’t take the car loan but instead invested an amount equal to the EMI you intended to pay, could you buy an used car in 2-4 years and safeguard yourself against the initial steep depreciation in car value?
Use this calculator to find out!
Download the Think Before You Take That Car Loan Calculator!
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You Can Be Rich Too with Goal-Based Investing
My first book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create customg solutions for your lifestye!Get it now
. It is also available in Kindle format
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
My second book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a youngearner
The ultimate guide to travel by Pranav Surya
This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step. Get the pdf for ₹199 (instant download)
Free Apps for your Android Phone All calculators from our book, “You can be Rich Too” are now available on Google Play!
Install Financial Freedom App! (Google Play Store)
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