CrazyEngineers Archive
Old, but evergreen and popular discussions on CrazyEngineers, presented to you in read-only mode.
@Kaustubh Katdare • 03 Jan, 2014 • 1 like
I bet most of us here have dreamt of owning a BMW or an Audi or a Mercedes Benz in our lifetimes. Whether your are working in an IT company or a core engineering company - these toys are pricey and owning them requires a big bank balance. In India, the price of these cars begin at Rs. 25L and above. Since most of us end up investing our savings in buying a home; the dream of owning these super luxury cars dies out over a period of time.

I did some math and found out that it's almost impossible for a typical middle class engineer to own a luxury car if salary is the only source of income.

What's your take?

PS: Inspired from a similar discussion on Quora.
@Kaustubh Katdare • 07 Jan, 2014 No takers to this discussion? Come on? Don't you dream of a luxury car? 😁
@KSS Manian • 07 Jan, 2014 In tamil there is a saying "Varavu ettana, selavu patthana" (i.e.) "Your earnings are 8penny but expences are 10penny". I am lying below the middle class engineer shed. So for me it is like a dream.
But I can make this dream real, If i start my own Construction consultancy.
@lovebox • 07 Jan, 2014 • 1 like Let's put the possibility factor aside and focus on the need factor.
Do we really need that kind of car?
Is there any point of putting all that hard earned money in to some fuel-guzzling vehicle? More so when you know that it is anyway going to crawl in the city road traffic.
If I had that amount to spare I would put it in to some better use.

Anyway, even the rich and famous around the world have no qualms driving around in a modest car. Check these out:
  • Mark Zuckerberg - Honda Fit (American market version of the Honda Jazz).
  • Bill Gates - Ford Focus
  • Warren Buffet - Cadillac DTS ($45000), which he purchased in a show of support for General Motors during the American automakers' financial crisis and subsequent government bailout.
  • Steve Ballmer - Ford Fusion Hybrid
  • Eric Scmidt - Toyota Prius
  • Leonardo DiCaprio - Toyota Prius
  • Ingvar Kamprad - Volvo 240 (1993 model)
What are your views CEans?
@Kaustubh Katdare • 07 Jan, 2014 When it comes to 'needs' - you don't really need Internet, a wrist-watch, a computer, that fan or AC, Internet, mobile (the list is endless). A luxury car is a 'want' - and it's the 'want' that drives people forward; provided needs are all taken care of.

We aren't certainly getting in the debate of 'need' vs. 'want'.

I'd really want this discussion to go in the direction of techniques which 'may' enable us to buy that car! 😀
@KSS Manian • 07 Jan, 2014 @lovebox - I hope the people you mentioned in the list must having a luxury car in their carriage. But the favorite is what you mentioned.
@lovebox • 07 Jan, 2014
Kaustubh Katdare
When it comes to 'needs' - you don't really need Internet, a wrist-watch, a computer, that fan or AC, Internet, mobile (the list is endless). A luxury car is a 'want' - and it's the 'want' that drives people forward; provided needs are all taken care of.

We aren't certainly getting in the debate of 'need' vs. 'want'.

I'd really want this discussion to go in the direction of techniques which 'may' enable us to buy that car! 😀
Hmm! Then perhaps the best bet could be to get in to a business or starting an enterprise, working hard enough, and at the same time being fortunate enough,to earn the kind of money that gives us that purchasing power in a short period of time.

Regarding the Internet, computer, and mobile phone, I think they are devices of convenience and help us improve efficiency.
@lovebox • 07 Jan, 2014
KSS manian
@lovebox - I hope the people you mentioned in the list must having a luxury car in their carriage. But the favorite is what you mentioned.
Perhaps. I am not sure about that. But most of the times they do drive around in the cars mentioned.
@Pensu • 07 Jan, 2014 Interestingly most of the people on Quora have said "yes" to this. I think it's going to be too hard to get a luxury car. Reason : We first want a home sweet home! I am living in Bangalore, and it's quite costly to buy a descent home here. Now, let's say you can manage to save some money to buy a big car, but how about it's maintenance? Plus you would be missing a lot to save that money, you might have to live like a monk! So, in my view it's a long shot to have a luxury car with salary.
@KSS Manian • 07 Jan, 2014
Pensu
Interestingly most of the people on Quora have said "yes" to this. I think it's going to be too hard to get a luxury car. Reason : We first want a home sweet home! I am living in Bangalore, and it's quite costly to buy a descent home here. Now, let's say you can manage to save some money to buy a big car, but how about it's maintenance? Plus you would be missing a lot to save that money, you might have to live like a monk! So, in my view it's a long shot to have a luxury car with salary.
Agree with you. If you are a salaried, its very hard to imagine to buy. Buying a Home (or) Dream car should be varied depend on one personal character. If you are so crazy about the motor vehicle then you might think about buying a dream car.
For me I am so crazy about driving a motor vehicles. I bought Pulsar at 2007, at the same day when I purchased I directly drove my bike to the mechanic shop to modify my bike for my needs. I changed the body color, wheel, handlebar, silencer etc. All my friends are scolding me, because every people want to go to temple or somewhere.
PS: If I have a choice to buy a car or anything else, I will buy the car first. 😀
@Kaustubh Katdare • 07 Jan, 2014 I think the investments made in buying a home eat up significant amount of the monthly income. I've seen a lot of people trusting a lot on mutual funds. I'm not sure if executing SIP would allow us to buy the dream car.

I think if you could work out something in your part time (income through blog or freelancing); you should be able to afford the car.
@Anand Tamariya • 07 Jan, 2014 • 1 like Rs. 50k per year invested over a period of 25 years @12% can get you 1 crore. Audi A4 costs around Rs. 35lakhs today. So not totally impossible.
@Kaustubh Katdare • 07 Jan, 2014 @Anand Tamariya - Right; the math does work that way. Sparing that sum every year; provided you've to take care of the EMIs and your regular expenses; not many people would find it easy to invest that amount for 25 years. But I agree- it's possible.
@Kaustubh Katdare • 07 Jan, 2014 PS: One more way, which I won't recommend, is to find a rich man in need of a kidney. ☕
@KSS Manian • 07 Jan, 2014
Kaustubh Katdare
PS: One more way, which I won't recommend, is to find a rich man in need of a kidney. ☕
😁😁😁. Nice way. Will try using yours @Kaustubh Katdare .
@Anoop Mathew • 22 Jan, 2014
Anand Tamariya
Rs. 50k per year invested over a period of 25 years @12% can get you 1 crore. Audi A4 costs around Rs. 35lakhs today. So not totally impossible.
Although it is possible as you have said for someone working in India. The time of necessity or the thrill of youthful riding dies down at that age (you'll be probably 50 by that time) - not to mention the fact that you'd be a family man with kids growing up as well. Atleast in most of the cases I've seen you need a real high pay to get that costly if your only source of income is from working in India.

P.S.: When you look at it (new car)- maintainence vice, it's better to own another new house instead!

P.S.S: Second hand cars are always another option to consider and often cheaper as well (well excluding the maintainence costs)!
@Avis1 • 26 Nov, 2014
Anand Tamariya
Rs. 50k per year invested over a period of 25 years @12% can get you 1 crore. Audi A4 costs around Rs. 35lakhs today. So not totally impossible.
Wtf.We bough a plot that cost just 17000 rupees when people were buying color TV and we were having Weston Black and white TV.I was a child,i cried for TV,My dad said NO,NO.He bought the plot and that cost now about Jaguar Car(1 crore).
I said can i buy Jaguar,my dad said no. I am doctor now and cannot compare the knowledge of business to my dad who is a farmer(BCOM second year).
Gonna buy UHD TV after marriage,lol to my brain.
@Rajni Jain • 26 Nov, 2014 • 1 like
Kaustubh Katdare
I did some math and found out that it's almost impossible for a typical middle class engineer to own a luxury car if salary is the only source of income.

What's your take?
I know a simple engineer cum entrepreneur who bought BMW S1000RR 😁

If not this, than normally its not possible until you have a STRONG family background who left millions of rupees for you.
@Kaustubh Katdare • 26 Nov, 2014
Rajni Jain
I know a simple engineer cum entrepreneur who bought BMW S1000RR 😁
I'm proud to say I can easily buy 2 of those any moment! 😀
@Anil Jain • 26 Nov, 2014 • 1 like
Kaustubh Katdare
I'm proud to say I can easily buy 2 of those any moment! 😀
You know, after your thread even I bought a Ducati
(*same bike that you had on your desk 9 years back)
@Ramani Aswath • 27 Nov, 2014
Kaustubh Katdare
I did some math and found out that it's almost impossible for a typical middle class engineer to own a luxury car if salary is the only source of income.
The only child of an engineer friend of mine turned up in a Rs40+ lakh Audi at my office. He told me apolegetically that he sold some real estate they had near the airport and bought this.
@Kaustubh Katdare • 27 Nov, 2014 • 1 like Sometimes I wonder whether we should focus on saving money and investing while keeping the 'wants' under check. But there's other side of me that says that money's useful only when it's spent.

I'll write an example from my own life. Back in 2003 and 2004 when my friends and I had no job (and only an engineering degree); we traveled by bus a lot from home-town to Pune. I hated traveling in a bus so much that I made a commitment to myself that I will travel 'first class' whenever I'm in a position to afford it. There were times when I lived in Pune and was making just enough money to afford air-travel back to home-town. I preferred paying Rs. ~4k for air tickets over Rs. 600 - Rs. 800 for a bus ticket; even though it's just an overnight journey. My friends called me an idiot; but I enjoyed it (and still do).

I'm not sure if I was right or wrong. If there's an upcoming travel; I start saving up; but prefer air-travel over bus or train. It's just me. I found a way to afford air travel by cutting down on other expenses.

Oh yeah, I do hope to be able to buy a BMW some day. ☕
@Ramani Aswath • 27 Nov, 2014 • 2 likes
Kaustubh Katdare
but prefer air-travel over bus or train.
Totally in sync with that.
@rithesh salian • 27 Nov, 2014 If u r fair enough to take any kind of risk in good terms than u can have it.
@Saandeep Sreerambatla • 27 Nov, 2014 Its impossible and slightly possible if you are interested to pay emi for many years.
@Anil Jain • 27 Nov, 2014 • 3 likes There are two facts associated , buy an elephant and feed it!!

Even though one will buy these ultra luxurious cars by spending his savings and taking loans, what about cost of maintenance. One need to pay insurance, servicing and maintenance, fuel for these cars which would come near about the cost of a small car 😀rofl: probably nano / 800) in a year.

Buying any car is not a big deal and as we say, Nothing is impossible. But, per me not advisable for a commoner.
@rithesh salian • 27 Nov, 2014 Required for people in the marketing field to show off the standards,
Depends on person to person.
*Not necessary for the person who thinks of survivals.
*Easy to buy for the person who like to take risk and know to survive in any condition. Get it ,use it, replace it.
@Ankita Katdare • 27 Nov, 2014 It's interesting to see, none of the engineers around here think of "It's my own money. I'll spend it on whatever I want, whenever I want." ☕
@Saandeep Sreerambatla • 28 Nov, 2014
Ankita Katdare
It's interesting to see, none of the engineers around here think of "It's my own money. I'll spend it on whatever I want, whenever I want." ☕
Yeah, its my own money but i can buy a BMW tyre 😛
@Neo 24 • 21 Sep, 2015 • 3 likes Gone through the whole discussion. Unfortunately, negatives were more than positives here. However, i strongly believe, one with an annual package of 7 lacs plus could think of owning it (specifically Jaguar XF).
Though thinking of next 20 years continuously paying EMI for a car seems ridiculous, but its just a matter of initial 5-7 years. Later then, paying 40K per month wouldn't be a big deal. I know people, whom salary has increased to around 200 times in a span of 40 years. This clearly indicates, what's the value of 40K now, wouldn't be the same after 10 years. If one has the ability to consistently pay EMI for initial 7 years, he/she would definitely be in a better position to pay it later on.
And yes, if one has the onsite opportunities, that's a plus point undoubtedly.
@Bala Venkat • 05 Feb, 2020 • 1 like

What a wonderful discussion! @Neo I totally agree bro. If you have your goal clear (owning a brand new BMW), no goal is unachievable if one plans his finances accordingly. Why shouldn't middle class aim for the skies? If you have heard it, everyone these days invests in systematic investment plans (SIPs) for future security. So, one can't say that all engineers are financially challenged. Once that is sorted, you have rest of your income to put aside for things you LOVE.

If average earning engineers (from average engineering colleges) my age can buy 75 Lakh homes, they can definitely go fo a 40L four wheelers!! ? 

@[Prototype] • 06 Feb, 2020 • 1 like

It's not ownership but the maintenance costs that deters me from owning one. ?

But yeah, now a days, 10L+ salary is very common I think (Rant: increase the 30% slab! 10L is like peanut now). So from absolute ownership perspective, yes it's very possible to own one of the luxury car provided there are no other family responsibility. But maintaining one is a different deal. 

That's the reason perhaps, I see a so many pre-owned luxury cars which ran less than 10k km on sale in olx. Also if you're in Delhi/NCR, you'll get A4, A6 and many others of 2012+ year for less than 15L. (Check youtube channel called 'My country my ride') 

@Kaustubh Katdare • 06 Feb, 2020

We had really awesome discussions in the past, didn't we? ? Pre-owned cars (pre-worshiped, as they like to call them) are within reach; but as Prototype said, it's the maintenance cost. Plus, the fuel economy of these cars is pathetic. 

What we really need is some pricing disruption - like the Chinese mobile companies did to premium phone segments. Companies like Xiaomi offer powerful features and hardware at a fraction of the price of the premium phones - and they make a lot of sense. 

But one may argue that one does not buy the 'features' that these premium cars offer. People buy the "status" that gets associated with these cars; and there cannot be any logical pricing to it. 

Let's hear from the newbie engineers. What say you, people?

@bill yorke • 06 Feb, 2020 • 1 like

Being pragmatic you need least of 3O Lakhs to purchase any of the above extravagance vehicle . 

Regardless of whether you need to purchase through EMI , the base sum you need is 50 thousands , regardless of whether the period is for a long time !! 

In the event that your activity brings you a net compensation of 1 lakh you may purchase . 

Second manner by which you can purchase is , proceed to purchase recycled vehicle from HARYANA , DELHI . 

Purchasing an extravagance vehicle isn't an issue , will you have the option to keep up it spending right around 70 thousand per year for it upkeep . At that point cool , if not don't consider purchasing .

@Noothan Kumar • 22 Feb, 2020

Yes you can !!!!!

You referred to as doing a 9–5 job , where ISRO , NASA ,PSU’S . If you are working in such comapnies you may “think” once of buying .

The above companies pay a good amount of money .

Being practical you need minimum of 3O Lakhs to buy any of the above luxury car .

Even if you want to buy through EMI , the minimum amount you need is 50 thousands , even if the period is for 5 years !!

If your job fetches you a net salary of 1 lakh you may buy .

Second way in which you can buy is , go and buy second hand vehicle from HARYANA , DELHI .

Buying a luxury car isn’t a issue , will you be able to maintain it spending almost 70 thousand a year for it maintenance . Then cool , if not don’t think of buying .

A humble request , never insult your own college from where you studied , IITIANS, NITIANS , BITS people are not god , at the end everyone has to struggle , we struggled when you were chilling .

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