24 Aug How a more expensive car can work out cheaper
Buy a “great” car and use it for 8-10 years instead of buying “good” cars and replacing them every 5 years.
Let’s say you are planning to buy a WagonR today, and at the back of your head have already thought about a Compact SUV 4 – 5 years down the line. Well, it’s definitely better for you to get that Compact SUV instead. Wait if you have to (to accumulate more funds), but it’ll be cheaper than spending 5.5 lakhs on a WagonR today, selling it for 3.25 lakhs in 2024 and buying a 10-lakh rupee Compact SUV then. What’ll work out cheaper for you is spending 4.5 lakhs more on the Compact SUV today and holding onto it for 8-10 years. Do the math – it’s very simple and will blow your mind. If you are considering a Maruti Dzire for 10 lakhs today and have a feeling you’ll buy a 16-lakh Honda City after 5 years, it’s way better for you to buy that Honda City instead. If your financial situation is secure and you are absolutely sure of keeping the car long term, take a longer loan duration (if need be). But whatever the case, keeping the City longer on a 6 year loan will be cheaper than replacing your Dzire after 4 – 5 years.
Added bonus of the above = You’ll be driving a superior car for 8 – 10 years (Compact SUV instead of a WagonR, or a City instead of a Dzire). It’ll inevitably be safer, faster, of higher quality, more spacious, a better handler etc. The real question is = would you rather drive two good cars over 8 – 10 years, or one GREAT car over the same duration? If you buy a superior car today, it is a guarantee that you’ll keep it for longer. All other factors being the same, you will find it far easier to retain a superb car for 8 – 10 years (versus an ordinary / mediocre car).
Know what else is cool? 8 years down the line, your car will be better maintained too. How’s that? It’s basic human nature. What do you take more care of, from your cupboard? The 600-rupee shirt or the 2,000-rupee one? Fact = the best solution to stop losing cheap 20-rupee Cello pens is to buy a 1000-rupee Parker. Not to forget, a car from a higher segment will usually be built to finer standards + with better quality parts, which means that it’ll age slower & last longer. If your car ages well, you will happily retain it for more years.
A superior car will also lead to nicer memories because it’ll make every drive, outing & holiday that much more special. As BHPians, the drive is as important to us as the destination. Cars are anyway such a fantastic passion to have (unlike alcohol / smoking / gambling etc), so go out and splurge a little bit more.
Don’t have the budget for that nicer car right now? But you still agree with us to wait another few years before buying that one desirable car? Great! And, while you make this wise choice, you don’t need to mourn over not being able to go on those outings or holidays in your own personal car. That’s because you can always have your own personal car whenever you wish to! Contradictory, right!? What we mean to say is that while you have Athena Travels at your service, you can always grab the opportunity of our outstation taxi service in Bangalore, where we help you own a car of your own choice for a day or two, with only a few rentals. You can choose to have our professional chauffeurs drive you to your destination and back, or you can vote for picking your choicest car and driving it down the lane on your own, if privacy is what you want on your trip.
And for all those small car owners who are wise to wait a little longer for their most desired superior car, here’s some top advice: retain your current car for longer, so your budget increases. Each additional year that you drive your current car, you are saving big bucks & increasing the available funds for your next car. Wait for 2 years or 3 if you have to, save up and increase your budget, but buy a GREAT car!
You’ll also be EMI-free for a longer time. Buy a superior car today and enjoy the additional 5 years of an EMI free life (e.g. years 6 – 10 when you would have otherwise bought a new car). You’ll be out of the vicious EMI circle, considering you’d have paid off your loan in the 3 – 6 year period & are holding onto your “nicer than expected car” for longer. Compare this to upgrading cars every 3 – 5 years and continuously paying car EMIs.
Buy a nice car, keep it for 10 years and you can spend the money / EMIs saved on lifestyle enhancing stuff like doing up your house, electronics, going out more, holidays etc.
After reading this blog, you’ll now understand why even the best outstation taxi service in Bangalore owns some super cool cars like SUVs, MUVs, sedans, and hatchbacks from top names like Toyota, Tata, Maruti, Mahindra, and more. That’s because they want every client to enjoy their ride, no matter how long or short, no matter how frequent or rare. They value the money their clients pay, and want them to have the most of it!