Checklist to buy your own SUV | Money Psychology

In India, owning a car is still considered a luxury, with only 1 in 12 people having one. This makes buying a car a significant milestone for many.
With over 65% of India’s population under the age of 30, it's no wonder that cars have become a popular topic. However, it's important to remember that much of our desire to own a car is fueled by smart marketing strategies.
In this video, we'll explore two crucial aspects to consider when buying a car:
The Social Side: How societal influences shape our car-buying decisions.
The Financial Side: How to assess what you can afford, ensuring you choose a car that meets your needs rather than just your wants.
Happy watching!
Pre-purchase Money Checklist: drive.google.com/file/d/1yoIx...
Car Affordability Calculator:
1. Click this link: docs.google.com/spreadsheets/...
2.Once the Google Sheet is open, click on 'File' and then 'Make a copy.' A new sheet named “Copy of Car Affordability Calculator” will open in a new tab. You will be using this to check the affordability status.
3. Fill in all the values in the calculator as explained in the video. The cells highlighted in “green” need to be filled in. Please note that this sheet is in an editable format. Any changes to the format or the formulas will alter the calculator's settings.
0:00 - Let’s begin
1:47 - Why are you buying a car?
2:27 - Buying a car because others are buying it?
4:20 - Why have SUVs become cheaper?
6:08 - Upsell effect
7:30 - Car affordability calculator
10:48 - Bloopers!

[@Zero1byZerodha]

Hey everyone, If you'd like to use our Car Affordability Calculator, you can find the link below. Please make a copy to use it. For detailed instructions, refer to the description above. docs.google.com/spreadsheets/d/17SM0nY5ChFvyXzDFPXK4fOyaJhDkD7zl53wLd8sAiCU/edit#gid=0 And make sure you subscribe to the channel for more such content!

[@FaintArt]

Hi, can you guys make a video on managing personal finance? I find myself overspending after starting to use UPI. Great job, keep it up!

[@MA72110]

The calculation is missing the sales after depreciation. Suppose the individual will sell the car after using it for 5 years with a depreciation of 50-60%. Hence, the total cost of owning the Car will be down by 30%. Any comments?

[@nareshvaluelabs6322]

The operational cost assumed just around 500km per month. But I think on an average it will be around 1500-2000 km per month.

[@up6427]

What has music got to do with financial planning ? That background music is highly irritating to say the least.

[@bsn90]

No one noticed that fuel cost cannot be Rs. 40,000 per year. You a have just multiplied fuel rate with months, not taking into account the consumption of fuel by the vehicle (Mileage). A 10 KMPL SUV will cost you atleast Rs. 40,000 PER MONTH, NOW multiply this 40k into 12. Got it?

[@rathinamtrainers]

Consider GST (48%) + Road Tax (20%) + Income Tax (33%) + Fuel Expense + Maintenance Expenses (Insurance, Service, Wash package, Accident repairs over insurance claim,...).... Decided to keep my 15 year old car for another 5 years 🙂

[@deepakm3668]

Prepare to use it for your lifetime coz world is gonna become more expensive to live, eventually..

[@akhilmittalji6816]

How did you apply for the registration extension?

[@vishwasreddy9742]

The car cost increase is not counted.

[@true_indian987]

Taxes are crazy in India.. and it has become even worse since 2014 ..it will become worse in future!!

[@soulful2665]

MS 800 here 23 year old still run like anything

[@nrbgamingYT]

This drops 4 days after I order my car and after a whole year of research.

[@TheGeorgeous]

As long as you didn't pay, you can reconsider

[@Ramgautam12345]

which car?

[@abhinandankaranth8597]

If you can afford it . Why not....???😅

[@varun2250]

Well it all depends on your choice of the car as mentioned in the video

[@sidmishra8252]

Issue is not with the car, issue is with the fuel

[@MD-zr8xi]

ya Piss should be the fuel

[@TheGeorgeous]

Thank you. Somebody said it. Once you buy and start driving. Every distance is automatically in rupees in your head. You'll reduce driving unnecessarily and wonder if the purchase was worth it

[@parjanya5968]

even bigger are the taxes we pay everywhere: when we buy the car (gst, cess), when we pay for fuel (excise duty), whenever we do servicing, etc 🙃

[@Johnwick78y]

If you can't foot the fuel bill, don't bother splurging on a car. Stick to what's within your means, like a Platina. It's absurd how folks scrape by on loans for cars, then gripe about fuel and taxes. Why dive into luxury when you can't keep up

[@Johnwick78y]

If you're too broke to fill the tank, just stay off the road. Stick to your lane, Platina's for you. It's a joke seeing poor people rolling in on loans, then moaning about fuel and taxes. Stop playing pretend baller when you can't even afford the basics.

[@funnyguy0472]

Repeat with me, FWD sub 4 meter cars are NOT SUVs, just jacked up hatchbacks !

[@TheGeorgeous]

In India and on Indian roads those are SUV enough. PS : Thar is also sub 4 meter

[@funnyguy0472]

The Thar is atleast a RWD or 4x4, so it does qualify to be an SUV unlike others.

[@gsingh660]

​@@funnyguy0472Not all versions are 4×4 bro

[@naughtyUphillboy]

😂 CrossOver for comfort

[@naughtyUphillboy]

​@@funnyguy0472Now most selling, nearly 70% Thar are RWD😅

[@vinodr.g4665]

Some add ons from my side 1. Fuel cost is considered on the lower side for suv. It will cost atleast 1 lakh per year 2. Insurance cost too is on the lower side 3. Tyre needs to be replaced every 50k km. Replacement cost of 50k every 5 years needs to be added 4. Car detailing costs to be added 5. Car parts replacement cost ( expected after 7 years) needs to be added. And these are damn expensive. 6. Repair cost due to minor damage/ accident. Now the true.cost of ownership zooms.

[@nikhilhalyal1296]

I own a car from past 7 years and some one who tracks all the expenses I drive a maruti vitara brezza. I ride about 10k kms Max a year and get around 50k for fuel. Replaced my tires at 80k. Insurance cost is as per the video. I haven't done any detailing nor I have faced a accident. Since it's maruti replacement of car parts won't be much expensive.

[@rakeshkk3185]

True

[@cherianphilip4707]

@@nikhilhalyal1296 brezza is basically a hatchback tho

[@nikhilhalyal1296]

@@cherianphilip4707 ok boss not gonna argue!

[@Mrmaert]

1 lakh is too much you won't spend 1 lakh on fuel. hardly 10 % people do detailing.

[@saketarora]

The only difference in me and Abhishek is that I do not have a guru like ‘Abhishek’!

[@yogeshsharmaiitbhu]

I can't afford a car worth 2.92 lakh a yr after grinding for all my life , but need to pay 2.96 lakh as taxes which also i can't afford 🙂

[@arjunn6816]

You brought out the BS of this video properly.

[@ashwina.vardhan5831]

this is exactly where business owners win and individuals (salaried) lose. A business owner can expense this car to their company and get a tax write-off, but an individual would have to pay it as income tax no matter what

[@adithyanmb494]

The simplest method i use : If you can afford to buy a car 2 times , then you can buy that 1 car . It can be a bit over exaggerated , but it works

[@nivk9445]

Tbh it's the same with any purchase. If you're going to buy on EMIs, follow "If you can't pay the 5X that EMI, you can't afford that EMI".

[@soloflick6579]

if you can afford to live your life 2 times then you can live your life one time. :D joke!

[@daydreamers710]

That's what I always think when I feel to buy an iPhone with all my savings.

[@shridharvannam8408]

Same thought process

[@ujwalkuckian]

This method is best for buying luxury purchases but not for all the things.

[@anakingaming3687]

Was missing Abhishek in last few videos. Badiya aadmi h, we have common interests and financial condition

[@rohitpromise3815]

badiya aadmi ki english nhi aati kya

[@anakingaming3687]

@@rohitpromise3815 Bhai isko Hinglish kehte h, which is very common in cities. (I did the same here again). Aap kbhi Sheher aao toh batana, will teach you.

[@VikasJaink]

This videos really make sense, I am posponing My car purchase from 2 years for the same reason, Once I really need car I will buy it untill then I will use my 2 wheeler.

[@shaileshbhat6131]

If public transport works well then you don't need a car

[@Guyridesolo]

The only thing stopping me from buying SUV is my 'Gareebi' 😅

[@ModestYouTuber649]

One thing that I've come to understand over time is knowing your 'Aukaat ' at each and every stage of your life. And that 20lpa figure which you quoted is made by a select few that too in IT industries..Rest all industries,govt jobs even people in medicine make way less in the early years of their working lives for them to afford a SUV.

[@vedantmungre1702]

Trueee

[@te098jgjgbjjkjkhk]

You don’t buy SuV and invest same money with zerodha etc. Then their owners buy expensive yatchs with your money. How does that sound??

[@praveeny3337]

Message is "buy a car which you can afford & according to financial status, not the social status".

[@naughtyUphillboy]

😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

[@nishanthn6543]

Actual video starts from here 6:30 😂

[@piyushgupta1606]

Thanks 👍🏻

[@sumangupta7676]

thanks bhai.. u r angle

[@Johan-kb3lw]

lol bro angle or Angel 😂​@@sumangupta7676

[@amarnath4438]

Wow! this guy sounds like my dad. Thank you dad, I saved a lot of money and went with my fit in buying a car.

[@MazziniFan]

Buddy 😂😂😂

[@HeyCoop]

Actually thses videos helping me a lot , im 22 and learning a lot through these videos, keep up the great work guys ❤️

[@Zero1byZerodha]

Thank you ❤

[@shivammodi8551]

The issue is not with the car.. it's about the money you earn.

[@aakashjain9392]

Kudos on the affordability part We own a Tata Nexon Petrol Top Model, Annualised EMI + Fuel + Service + insurance Cost +misc is 13% of my annual income and 7% of household income Plus SUV is not always the most comfortable given the higher Centre of Gravity

[@SiddharthBhadauria]

Nexon in not an SUV. All such cars are just hatchbacks on steriods.

[@sweettruth8039]

When did Nexon ( a raised hatchback) become a suv ?

[@saisindhugurram9834]

Want same video on buying a house......my salary is 50k and i am planning to buy a house of 1.5 cr 🫣....pleaseeeeeeee make itttttt

[@Vaddipalli]

If my salary 1.5, do not have dare to by 1cr house 😢

[@RishavBaruah]

Whats the downpayment amount and can you afford the EMI?

[@meghdoot8608]

I think the emi itself would be much more than your salary

[@ponssap]

Just go through financial analysis before you buy that house for 1.5 crore. From my side, I will not do that.

[@parasrshah9918]

This is very nice as being in business- we used to calculate on similar way , Moreover we need to consider - 1. when the car is to be disposed / shift in ownership . Ideally not more than 6 years according to us. 2. Resale estimate ( be very prudent ) 3. Buy new or Second Hand if it’s a Good deal. 4. See your actual usage of the car - KM per year and decide too - if high wiser to go with a low maintenance car brand like Toyota. Etc . And if usage is low see if you have to spend that much amount .

[@vedantmungre1702]

Sedan is actually pretty good. I didn't know when people began to like big SUV cars like those in America.

[@alladapraneeth4450]

Can you make a video on "What to expect in 30s & 40s". What do you mean when life actually hits you and what are some of those actual joys that would be there in 30s and 40s for which we should plan

[@anmolnigam9409]

Marriage and having kids

[@shaileshbhat6131]

health issues

[@Chewin.]

More financial responsibilities

[@alladapraneeth4450]

In the video he has mentioned "joys in 30s & 40s". All of these are not joys na 😅

[@karansmittal]

Exactly my thought process while buying a car

[@ambedkarambedkarjaybhim1504]

This is really practical things which is discussed here.... Today SUVs craze but notedown...after 10 years people will buy hatchback due to parking and maintenance issues...

[@togarladeepak7174]

Can you also make a similar video on owing a house in 20's Vs renting + investing some money into mutual funds over a period of 20 years , which eventually gives me the same house which I planned to buy in my 20's

[@AkashJobanputra5]

One point to take a note of if you're an employee, is to see if you might need to relocate to some other city or state. Then buying a home in 20s will cost you more as you'll have to pay Rent in the new city, as well as EMI of the house you bought.

[@ravitejaganni9759]

Awesome video bro... No one listens to me when I say this.. Its just awesome .. Im amazed looking at The calculations in my mind , on your video

[@EXPLORADVEN]

👌👌👌 Valid video for a lot of reasons... Jub tak itni akal aa jaati hai, shakl kharab ho jaati hai, adhiktar ogon ka yahee rona hota hai 😛😛 I usually advise younger generation, life is not about a few sprint races, life is mostly about marathons & ultramarthons for years and years. Prize for winning the race is immaterial, satisfaction for completing the marathons while looking forward to the next one is amazing.

[@gauravSingh-ij7iy]

Great video. I have an emi free Hyundai nios grand i10 and I am absolutely happy with my small family.

[@binusam9437]

All videos are indeed very helpful. Thanks for making these. Thanks for the checklist. Awesome!

[@raghunath1612]

Car is an inescapable requirement for us now a days. These calculations are pretty decent.., like insurance, maintenance cost, emi etc. Have to plan a car practically, is that suits to our budget or not.. Good information 👌

[@sumitkumardhule1082]

Perfect timing.. was thinking about buying

[@vmsrinivas6230]

The sudden craze for sunroof in every kind of vehicle shows how much our people understand the feature and the need for it. They are showing similar understanding in their choice of type of vehicle they want to buy. Happy days for car manufacturers , so easy to extract more money from customers who don't mind to pay for needless features as long as it impresses others !

[@chetanyadav]

How did you calculate fuel cost? I think you should put modifiable fields there - Avg no of km drive / year, Fuel type CNG Petrol Diesel Electric etc, Car mileage for better results

[@johnybrokeit]

Beautifully done! That was fun to watch. Funny screenplay and amazing animation too. Good insight. Thank you for this well done video.

[@Mr.Siddhesh.Khandare]

What an eye opener 😅 thank you guys

[@chiragkeswani541]

Brilliant script and nice acting as well. Commendable how much effort you put to teach such basic finances. I am slowly getting hooked to your videos. Keep it up.

[@hariprasadbolar7945]

superb , this is the kind you financial advice currently need . I am in my early 40's it works exactly the way you said . how you plan you 20's 30's really gives the financial independence when you reach 40.s

[@fadilrahman2157]

How much should be the monthly income in order to get a 5 Crore car ?

[@vnc59]

These videos are indeed very helpful. Thanks for making these❤

[@im_karthik7]

This vedio has good explanation on calculation for buying the car over it's life span. Considering the financial aspects of the person this helps to find the price range of the car.

[@nithviews]

Just WOW! Another great episode, go forward and educate people more. 💯

[@Aman13579]

The black tshirt guy's dialogs and over-acting(required as per theme) are awesome 😅. Edit - white one is also good 😊

[@aswinkumarkk]

I have mixed thoughts about this calculator. I own a car for the past 1 year and it sure has added a lot of value to the comfort & safety to my life and people around me. I think one should buy a car if they simply qualify this affordability check. Min 10% of on road price in cash, EMI to finish within 7yrs whereas 4yrs is good. Ensure, your EMI doesn't cost you more than 10% of your annual income after tax and other expenses like fuel & maintenance doesn't eat up more than another 10%. You are already at 20% of your net income put into one EXPENSE for one purpose i.e. to commute comfortably at your pace and from your place. The funniest part is I don't qualify myself in the above mentioned criteria of mine. :D

[@arcchitjain]

Wow...very well explained! Thanks for the info.

[@vinodpersistent585]

I like the way of explaining with comic and awesome editing

[@25manishsingh]

The other doesn’t pretend to be dumb, but he actually is! They got a good deal!

[@TheVRview]

waah bhai, Must needed video in current situation.

[@dpaktyagi]

Prateek is a good guy he started an earlier platform for traders It's good to see a collaboration with nitin Kamath and prateek Hope to see him grow and succeed

[@gaurrysharma7654]

Can you suggest that going for a second hand car is a good decision and if yes can you also share some formula like this to evaluate that ?

[@sauravraychaudhuri7474]

Useful information. Loved it. Will use the calcy

[@saurabhmukherjee9757]

At least Some one telling truth for the first time. Thanks

[@mohitdaiya444]

Thanks for the video that success and stess is actual true buy luxury thing and hope that in future we earn more I am now learning the lesson 😅

[@user-gj5qg2sk2j]

I am glad that I bought a Hyundai Venue S(O) at 12.5L on-road instead of top-model which was going for around 14.8L on-road. I didn't go for DCT, instead went for iMT which solves the pain of driving in heavy traffic. I didn't wanted sunroof, Air Purifier and all other extras which weren't of any good use. Just because top-model sounds rich & luxury doesn't mean you have to buy it.

[@adarshagarwalla5554]

Thanks for sharing the calculator!

[@arunghosh4230]

nicely done, thanks.

[@telugunomad]

I was just thinking about this. Can you also help us with statistics like how many people are buying cars which cost around 20L with loan.. when I look out , like everyone looks arrived..

[@Om_namah_shivay_1080]

I will give one advice after owning a car for 8 years , for most people in India they do not need anything more than second base varient of baleno,i20 ir amaze.. amazing cars with minimum running cost and good resale.

[@_M_D_M_]

I couldn't afford SUV. Yet I took it. I want to feel safe and have better visibility in the circus of Indian traffic. I know money wise it's a bind but atleast I get my peace of mind.

[@kishannageshshanbhag4359]

Great video thank you team!

[@bobbyisac]

There is some abstract value to always having a safe commute option, the travels it makes possible and especially for enthusiasts, the joy you get out of driving. Most calculator see car as an appliance which is true for a lot of people. But there are a lots of exceptions in every case

[@mridulrathod3681]

Kushaq in background 🔥 🔥 🔥

[@shaikaftab1199]

It is Kodiaq not Kushaq. Looks amazing in that colour. 🔥

[@prithiviraj5848]

Very nice and conscious thing a typical Indian should be aware of . Bcoz success metric have changed to the model of the car an individual is having

[@TheNativeStrokesShow]

"saturday, sunday I have off, I have a life" hits hard 😆🤣

[@indrajeetrai1561]

Great way of presentation. Makes it very close to reality

[@zyzyx1111]

There are some needed features in cars which are unfortunately offered in upper variants, which often come with useless ones like sunroof...

[@desidovahkiin]

Man i just love this!

[@nabin_gh4946]

Really helpful. Eye opening moment 😂

[@nitinkamath.A]

❤great calculator...please share such calculators...

[@akhilmittalji6816]

At the speed the roads condition is improving, sedans will be in fashion again very soon. I own both and I like sedan for its maneuverability and stability over a SUV any time.

[@vaibhavshinde4965]

Great video. Very informative

[@Boyinthecircle]

Let's buy a cycle guys

[@dhaksjaj]

Better for environment too 👍🏻😄

[@sharadrai6138]

I actually did buy a cycle after evaluating all the options 😂

[@Boyinthecircle]

@@sharadrai6138 How do you deal with heat & Speed & Long distance?

[@sidarthg2477]

​@@BoyinthecircleActually I have both a cycle and a car. So I use cycle when the climate is good or I want to go for a joy ride. And it costs crumbles maintaining a cycle. So yeah

[@sharadrai6138]

@@Boyinthecircle speed and long distance are not really a problem. Cycles can catch pretty good speed too and for long distance u have public transport. However, i don't ride in heat like we have right now

[@SomjitNag]

I neeeded to see this video man! Thankyou!

[@Zero1byZerodha]

Glad you found this useful!

[@arpitarora293]

Just one thing with your calculator that's quite off is that it doesn't increase the income and in the span of 10 years you'll probably have doubled your salary and thats being modest if you're around the 20l mark

[@shaikaftab1199]

That Skoda Kodiaq looks 🔥. Does it have a Satin Matt pff ?

[@Anant.Bhatia.Antz_Bin]

9:26 Maintenance calculation is too high, insurance is too low. Both balance each other. Bigger maintenance items start after warranty. You can get extend warranty up to 7-8 years. If you don't increase his salary for 7-8 years, he will probably start working for someone who will. AND, the annual cost of ownership does not consider the fact that the car will be sold. Even if it gets sold for 5 lakh, the TCO reduces from 2.9L/yr to 2.4L/yr or 20k/month. 17 lakh disposable income is 1.4lakh per month. 21k/month is 15%. So in fact the car was actually affordable when you mentioned it was not.

[@praveenbhatt6085]

Thank You sir 👍🏻

[@Thedigitalalex]

Such lovely video

[@user-px9th3wb6g]

I think the cost of daily commutes with present means can be subtracted while calculating the net cost. Since it is assumed directly that the current daily commute cost is 0.

[@vijayritanshu]

Paisa ho to kya kuch nahi ho sakta prem bhai 😂 Jokes apart, loved the videos and rationale behind not buying an expensive car. Moreover, I planned to buy the new endeavour which will launch this year, but I'll reconsider 😅

[@paul7m12d]

Thank u guys♥️🙌

[@Randomcomment7699]

One of the best video

[@srinivasang1062]

Love this type of content. Keep making more videos.

[@Zero1byZerodha]

Thank you 🙌Stay tuned!

[@aravindanil462]

Can you do a similar video on buying iphones and iPads even though people can't afford it. I'm fed up with my friend who still spent a lot more than he earns, today he got a new job and the first thing he told me is he wants to buy an ipad. I asked why? You already have 3-4 emi and were jobless for almost an year with no savings and you wanna buy an iPad. He just cut the phone... I'm worried he might end up in a bad shape by the time I see him again 😔

[@PradeepKumar-tq4ev]

He just wanna show off in front of all. 😢 Some people only will be changed through their own personal experience.

[@daevinbennett6216]

I was planning to buy a SUV now I changed my mind..gonna stick with cab services until I can actually afford it.

[@sandeepintown]

Absolutely makes sense

[@me23xfhg]

8 seater Innova with on-demand AWD is all we need.

[@vijayaragavan440891]

Subscribed,, great content bros

[@santinama6069]

Thanks

[@codwzgaming]

Life is all about the Risk and Management of it. You need to take it, we all take someday in our life.

[@LalitKumar-cs8ey]

Meri annual income 60 lac plus hai..and I drive a wagon R. Recently bought a baleno. I'm happy😅

[@pranayr9284]

Well done brother ❤

[@Kingofwaterdroplets]

In my opinion it’s better to buy a second Hand car. Go for cash payment not EMI.

[@matthaitm8945]

Very good advice.

[@0verkilled]

Its not about hoe much money you have, its about the roads that are in your neighborhood, SUVs are available at every price point and sedans are actually expensive.

[@daydreamers710]

How would it be if company gave us a car, takes care of its maintenance and fuel expenses. It even may be a small car like Tiago

[@biswaranjanpattanaik]

I will prefer a pre-owned car.

[@manujohn99]

40% is veryyyyy HIGH Too good video 👌👍👍👍

[@Zero1byZerodha]

🙏

[@putaamit]

What is the monthly running in kms have u assumed??

[@SV2098]

Bought a naked sportsbike costing half my annual income and its worth every penny spent !

[@mrmidnight8975]

So happy that I never was into cars and bikes 😂😂😂😂

[@utk787]

You missed out on the fun these machines are

[@dgr8oneme]

​@@utk787but he will not miss out on the fun of enjoying life without any stress and retiring early

[@bimalgupta3648]

Such a noob

[@taahirhamgi8286]

Missing out on the joys they offer.

[@jaylalakiya]

Ur video editor is best in the country