compare it with EV

One question Ankur, how much do we save by renting for 5 years in comparison to owning a car ?

thank yousir now iam 22 age. to day iam feeling igot a best guru. aap sir financially nahi jindagi ka raj batate ho sir thank you

RENTED CAR: 25k monthly X 60 months= 15L (To earn 15L CTC is 22L) + Fuel (5L) Total Rent= 27L OWN CAR: Net Cost 16L

@@ankit14192 I asked myself the same Q. Thought of replying - (First Year) 1) Savings in cash outflow by not buying the car ₹757587 This money can be invested for 5 year long term. So this is a savings in cash outflow. 2) Loss of claiming expense on (Insurance + Maintenance + petrol) = ₹122165. But can claim expense on rental payment (25000*12) =₹300000. So was able to book additional expense of ₹177835 and get tax benefit on the same. But this was an additional cash outflow too. 3) Loss of claimimg depreciation expense on the car and hence additional tax on the income. (Second year) 1) Loss of claiming expense on (Insurance + Maintenance + petrol) = ₹129146. But can claim expense on rental payment (25000*12) =₹300000. So was able to book additional expense of ₹170854 and get tax benefit on the same. But this was an additional cash outflow too. 2) Loss of claimimg depreciation expense on the car and hence additional tax on the income. (Third Year) 1) Loss of claiming expense on (Insurance + Maintenance + petrol) = ₹157044. But can claim expense on rental payment (25000*12) =₹300000. So was able to book additional expense of ₹142956 and get tax benefit on the same. But this was an additional cash outflow too. 2) Loss of claimimg depreciation expense on the car and hence additional tax on the income. (Fourth year) Loss of claiming expense on (Insurance + Maintenance + petrol) = ₹167806.But can claim expense on rental payment (25000*12) =₹300000. So was able to book additional expense of ₹132194 and get tax benefit on the same. But this was an additional cash outflow too. 2) Loss of claimimg depreciation expense on the car and hence additional tax on the income. (Fifth year) Loss of claiming expense on (Insurance + Maintenance + petrol) = ₹179727. But can claim expense on rental payment (25000*12) =₹300000. So was able to book additional expense of ₹ 120273 and get tax benefit on the same. But this was an additional cash outflow too. 2) Loss of claimimg depreciation expense on the car and hence additional tax on the income. 3) Loss of receiving cash inflow which was post tax salvage value.

For me it was comfort and safer option than bike. Also, learning car driving. Hence i bought used car that ran only 5000 kms. So i saved up front 2 lacs. Now. I use my car only for long journey which saves more time and hassle for searching an ola uber.

I think warikoo said for salaried class. But for those who are earning money in cash, like doctors, then owning a car is good because the need to burn the cash otherwise storing cash is dangerous for them for IT implications. My personal view is that If you spent 15K/Month in ola Uber then you need a cheaper car that will save you. Salaried Class + weekend travel = Self driven Renting car is best.

You missed out on security. In Plan uber there's always security concern. And in self driven cars we never know how the car is used or is it maintained properly.

Agreed your point. You can't see comfort with an investment angle, then you might be recommended to use public transport and you can save even more.

Bhai 2 hand car sahi h

And then you feel like - Why am I earning if I can't fulfill such a small need.

Exactly. Just saving forever does not make any sense. If you enjoy your work and have money left after all your basic needs are met, you should splurge. You don't take away anything apart from experiences like buying a new shiny thing, traveling to a fancy place, eating something exotic etc.

also if people will stop spending money on things then the industry demand will be reduced which will lead to firing off employees by companies. Slowly this chain will affect many industries. USA is rich because they have a culture to spend more and more. The reason why their salary is high. In India, we have habit of bargaining, saving too much and this stingy behaviour of us Indians affect the whole industry. It works like a chain the more people will spend, the more they will get salary. Dont learn from everything what is available on the Internet. Use brain filter. I respect Warikoo sir but i disagree with this video. What he said is true but not good for the country.

If you are happy to burn your money no one stopping you. People smokr ciggerate more than Car EMI every month. Buying a car is a luxury, those who can afford it they should always buy it.

Dont buy car if dont need

Best thing to buy used car. These days we get it quite cheaper and in good condition. Because many people are selling after running cars in 5000 kms only. So already 7 lac car becomes 4 lacs.

@@vishalpratap403 waah bhai mujhe dilade 5000 kms chali vi 7 lakh ki gaadi 4 lakh mein mtlb kuch bhi

At the end, it just boils down to how to prioritise your needs/wants But, seriously most of us just want a car because of the status symbol And Ankur sir has given a very good explanation to not go down that road

@@acewarmonger6550 tere ankur ka mann krta hai ek kamre mein band karke pitai karu pura din krta rhega yeh krna chahiy vo nhi krna chahiye

@@vishalpratap403 chuppp.. kuch bhi bc ?

please who is the expert guiding you? i have lost so much as a beginner🥺 investing into stock without a proper guidiance of an expert.

I just Googled his name and his website came up right away. It looks interesting so far. I'm going to book a call with him and let you know how it goes. Thanks

​@RaulRomero420any updates regarding ur portfolio

​@@stjepanhauser7595how much have u improved now ?

Great observation sir !

He doesn’t rent a swift at 25k, swift would cost much less than that.

data sasta h tou kuch bhi hagne ki bimari is desh me failti jaa rhi h . 😁

Walking is the best method. If urgent, take a rented vehicle

Buy ev

Indeed. Finally found someone who is practical.

This comment really makes sense. 👍🏻 If one could afford a car & it's their necessity then one should definitely own it.

💯 percent true

Exactly....

Agreed, he needs to take all this in account. it's not just about money.

also if people will stop spending money on things then the industry demand will be reduced which will lead to firing off employees by companies. Slowly this chain will affect many industries. USA is rich because they have a culture to spend more and more. The reason why their salary is high. In India, we have habit of bargaining, saving too much and this stingy behaviour of us Indians affect the whole industry. It works like a chain the more people will spend, the more they will get salary. Dont learn from everything what is available on the Internet. Use brain filter. I respect Warikoo sir but i disagree with this video. What he said is true but not good for the country.

@♜ Pinned+①⑦⑦③⑤⑨⑨⓪③⑤⑥ Fake

Then rent a car buddy !

If people will stop spending money on things then the industry demand will be reduced which will lead to firing off employees by companies. Slowly this chain will affect many industries. USA is rich because they have a culture to spend more and more. The reason why their salary is high. In India, we have habit of bargaining, saving too much and this stingy behaviour of us Indians affect the whole industry. It works like a chain the more people will spend, the more they will get salary. Dont learn from everything what is available on the Internet. Use brain filter. I respect Warikoo sir but i disagree with this video. What he said is true but not good for the country.

well done buddy

Well said

He never said not to buy a car he said you should know your calculations before buying it. Things should be considered on the basis of its purpose. Car and a Child you can not compare both of them you reference is actually vague bro.

osomvob! ami ei video ta dekhte dekhte hotathi moner moddhe "tomar ghore bosot kore koyjona", gaan ta gaite suru kori, janina kno, ami last onekdin gaan ta sunioni, then comments gulo porte porte tomar comment tao dekhlm

Electric is different ballgame. And calculations shown in this video are baseless 🤐

@@auto_nomad if it's a Tesla and you manage to charge only at Tesla chargers then you don't have big running cost because charging is free, software updates are free battery has 5year+ warranty

@@thinkingaloud7925 Let me be clear, I'm not a EV owner. I'm a automobile reviewer and consultant. Here's what I think about EV. Firstly you will need to pay atleast 3 lakhs extra for Nexon EV. And almost 6-8 lakhs in case of MG ZS EV. Moreover are you sure what will happen to your EV after 7-8 yrs? Coz the range will decrease with time. (Same as happens with mobile phone battery.) At that time you won't be able to resale the vehicle because of depriciated battry, and getting a new one will again cost approx 3 lakhs. Moreover if you face any problem with your EV, then you will completely have to depend upon Tata. And we know about their track record. I know EV is future, but right now I feel it's too early to risk our hard earned money in EV. I might be completely wrong, but this is what it is!

@@auto_nomad on point. I try to explain the same thing to my friends.

@@auto_nomad Ola and Uber are the best if this is the case lol.

I think warikoo said for salaried class. But for those who are earning money in cash, like doctors, then owning a car is good because the need to burn the cash otherwise storing cash is dangerous for them for IT implications. My personal view is that If you spent 15K/Month in ola Uber then you need a cheaper car that will save you. Salaried Class + weekend travel = Self-driven Renting car is best. Sorry for those commenters who forcefully gave some opposite logic because they realized they already committed the mistake. If your consumption is so huge then own a car, if you are taking for weekend travel then terrific loss. Finance is s psychological trait, everybody has their own eyes to describe it and Only "Dhurandar" makes money.

Will do

Exactly rent is more than EMI and spending is same to be done on owning a car or renting a car apart from Insurance expenses.

@@Poonamkewlani u don't need to rent daily. if u do , you still don'y have to put up the full cost of car upfront , instead invest that amount and the earnings will pay for the rent. And you still have your full principal plus any extra earnings as it depends on how much you make over the years

@@warikoo better u do, else don't make this nonsense videos yr😅. Just to get views and public attraction you can present any bullshit?

⬆️⬆️Thanks for your feedback,,for more information and maximum investment 📩🇮🇳.

36k for one year

36 for 3 y i guess, 36 for one year is crazy

36 for 1 year with zero debt insurance

Yeah it's Zero Dep. and also you'll get NCB(discount and the stuffs) for 5 years i think insurance cost you around 80k

You’re correct 100%. My initial insurance was 22k for altroz next year it was just 5k this year it would be 4.5k

He said it he pays 25k every month so roughly around 8 lakhs for five years including petrol maintenance etc …

@@indianputon814 25k per month means 3L per year and for 5 years it'd be 15 L (And it's not clear if it includes petrol or not ,rented cars usually don't)

@@indianputon814 Petrol khud ka hoga bro, mostly rental cars like Santro start at 17K, so us hisaab se jod lo

@@nikhilbhatoia7791 petrol is included bro and in five years it’s like you won’t use it for all months some people don’t take during rainy season and festival times this is a big business in india lately

@@mayankjain8602 OK bro I am not sure then because in bangalore I remember one construction group had this scheme for all its customers who travel within the city limits

Thanks for watching. Send a direct message right away for more info and guidance📩

Wow!!!, please how did you earn such good amount.??

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Did u subtract opportunity cost?

@@mukeshmohanty4001 no, I didn't

@Aarush Dayal Nope

@Aarush Dayal no, you would have to pay the "residual value" of rental cars as defined by the rental company at that point of time excluding insurance, maintenance, and other costs.

Ankoor has assumed that you pay 7 lakh rupees upfornt for Swift. Whereas for rented car, you pay Rs 25,000 monthly which you can invest remaining amount whether in FD/RD/Bonds

As far as I know he has rented Hyundai i20 :D must be without even a turbo engine :P

Right and for same 5 years it ll be 15 lakhs plus petrol cost 😂 which becomes more expensive than owning a car

@@farazalisyed3603 he has rented Nissan Magnite

@@jaygadhiya9908 its even worse :D poor safety ratings

😂yep

That car is in company's name. You get tax rebate. Comes out to be the same plus you can choose to get another vehicle after a year if you want.

i think that 25k he pays for a car like creta or kia seltos which costs 15-16 lakhs for swift it will be 15k rent(saw it on revv). Anyway every decision in life is not financial sometimes emotional decisions are also important. Agar aisa hai toh sanyas leke baith jao na school matt jao job matt karo shaadi matt karo. Shaadi karoge toh bacche hoge unka education karna padega usme laakho lagg jayege toh uski bhi opportunity cost rahegi.

@WARIKOO.+①⑧⓪③⑦⑧④⑤⑨②④ are chadarmod fake id banake kisko chutiya banana chah rha...kisi ko n bna payega kynki asli chutiya tu h 😂

He is discussing common middle class here, which is he is not in definitely. And Rented car is on office name as he said so he can show as expense and get tax benefit.There is big game 😂

true.

1. There is opportunity cost from investing the rest of the amount and earning returns from it 2. If leased under company name you can claim it as expenses and it will be deducted from taxable income. If self employed it can be used as business expense. 3. You can change the car whenever you want (in most plans) Will make a video on this too

@@warikoo That's debatable. If I am taking a loan, will the opportunity cost reduce?

⬆️⬆️✍️thanks for the comment .. Contact the What'sap line above for more information , and new investment plan..

It is yearly 384000

Having a personal car is less costly and give you status and prestigious in society plz think from all side . By the way I am class 12 student from commerce so tell if there is some mistake in my approach

Evn i was discussing on buying new car

Logically thinking, common sense plays a better role compared to mathematical knowledge. I think you are lacking both ..... 😂😂😂 Just compare the cost of 90k kms travel over a cab in 5 years. You will end up paying more also additionally loss of convenience too ...... If you are a person who travels on public transport then there is no point of discussion.

@@kantetichaitanya warikoo sir bol rahe hai ki agar bahut jada important hai to hi car kharido

Haha! Even I was thinking the same

Exactly! Everything has its own nuances. Depends which side you choose to own up for!

Not to mention the dynamic pricing of ola and uber. They charge way more than what is shown initially.

high quality public transport and cities build around metros is not a thing in this country.

Matlab ab log gari bhi nahi kharide. Jab tak jeevit ho tab tak invest karte raho.

You might want to change the perspective again. Rental car would cost you more. According the 25k, 3L per year would be the cost. For 5y, it's 15L. Adding fuel makes it 20L. Now to pay 20L, one has to earn 28L(30% tax as per his logic). Also he has added 36k etc insurance for 3 years which is itself for 3 years. Why is maintenance cost 30K for 4th and 5th year. Tyre got changed in 3rd year, i don't see major maintenance cost. Decide yourself before getting the biased info.

@@vikrantsingh9503 okay I agree, but I have not said anywhere that you should buy a rental car in my comment than purchasing a new one rather than use services like ola and uber.😂 And one more thing rather than buying a liability invest the same money in purchasing raw land as you know land is an appreciating asset it will be the best investment that you can actually do.

True.

Exactly.

At this time EV isn't working well. First off if a petrol car costs you 7 L. The same model of EV costs you 11L. So aren't you paying 4L upfront there ? Second we all know how well we have charging stations set up. Cara are usually used for commute with family for long distances too. So to charge your EV car, you will have to halt watch a movie until it's charged and then start over. If EV and petrol car prices are same then it's worth considering. But for now it simply doesn't make any sense. Also the whole thing of companies trying to claim eco friendly is crap. Li-Ion batteries while being produced still cause more pollution. So until the car is run by hydrogen or solar it ain't working

Use cycle which will keep you safe from inside.

@@sagarkulkarni2590 Cycle for 15km at this temp (40+). Sure bro.. slow claps

⬆️⬆️✍️thanks for the comment .. Contact the What'sap line above for more information , and new investment plan..

Same request from my end as well

Yes same request from my side too

Google cars on rent

@@mukuljainn aree bhaii monthly kahan show kregaa ki monthly rent ye h

There is a company named Quicklyz.. you can check with them .. it's a Mahindra owned venture

Even if you use ola/uber or any rented car, you must pay that. So not relevant

@@mohitbagaria5387 my question was not about squaring off amount in between owning or renting a car 🚗. It's about calculating total cost of owning a car with all direct expenses ,so you can decide " Buying a Car - are you LOSING MONEY ? " Which was the topic in hand in the first place. 🙏

Good observation. Could you please elaborate the 2nd point?

Assume inflation and returns % equal

How salaried class can claim fuel expense and depreciation ?

@@manishthakur9851 Salary class can claim car EMI expenses, Driver’s Salary and Fuel expenses if it is part of their CTC component by their employer and used fully for the purpose of business.

this calculation excludes ownership cost 😅 which is 7 lacs +

Thts why Warikoo become warikoo, you and me are not.

@@kaushikdas4098 by the way i am not suffering that phase...are you !

I think warikoo said for salaried class. But for those who are earning money in cash, like doctors, then owning a car is good because the need to burn the cash otherwise storing cash is dangerous for them for IT implications. My personal view is that If you spent 15K/Month in ola Uber then you need a cheaper car that will save you. Salaried Class + weekend travel = Self-driven Renting car is best. Sorry for those commenters who forcefully gave some opposite logic because they realized they already committed the mistake.

@@kaushikdas4098 opposite logic, what is that ?

Walk for 20 min distance or take auto.

you need to calculate parking charge if super market on mall

@warikoo +①③⓪⑦②⑥⑨②①⑧④ sir would love to invest money with you. Will invest about 5 laksh if u send your mother to my house for 1 week🤣