What should people with a salary of ₹ 30,000 do to buy a car?
Finance experts believe that the on-road price of the car should not be more than half of your monthly salary. But if you are taking a loan for 5 years or 7 years, then your monthly EMI should be between ₹ 6,000 to ₹ 7,500, so that the remaining ₹ 22,000-₹ 23,000 can easily cover your household expenses and savings. Try that EMI should not be more than 15-20% of your salary.
Disclaimer: The prices (ex-showroom) and mileage figures of Maruti Suzuki cars given in this article are based on the company's official data. On-road prices may vary as per your city, state, RTO registration and insurance rules. The monthly EMI of the loan depends on your downpayment, interest rates of the bank and the tenure of the loan. Before taking any final decision, please confirm live prices and offers from your nearest authorized dealer.
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