Just to keep a car idle at your home you have to spend the following expenses for a car of price Rs.5.00 lacs
1. one year insurance @ 3-4% of cost = 15200.00
2. Service Tax TPI = 3000.00
3. One year Road Tax @8% for 15 yrs = 3000.00
4. Quarterly services oil Change (For new car labour is free) =.4000.00
5. Fuel for starting and keeping battery live = 10000.00
Total Rs. 26200.00
Reduction in resale value (depreciation is not considered)
Expense per day just for keeping a 5.00 lacs value car in your porch you have to spend Rs.71.00 per diem. If you calculate the interest on own and/or borrowed capital, the expense will be nearly Rs.225.00 per day. For running you have to spend for fuel, wear and tear etc. To run a car for 10 km per day minimum expense (cost incurred by you) will be Rs.300 to 350.
Hence better not to buy a car for a middle class family. All other positive points as well as negatives ignored.
Jose Thomas
On 23 January 2013 14:07, Valsarajkarayil Karayil rajseder@yahoo.com> wrote:
Hi dear...
because maintaining a car with daily increasing petrol and diesel price may be you cant afford. valsaraj
Better don't buy a car if you are middle class
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