🚗 Smart Car Budget Planner
Find cars that fit your salary using a smart budget split
1. Q: How much of my salary should I spend on a car?
A: Financial experts recommend spending only 10% to 20% of your monthly salary on car-related expenses, including EMI and fuel costs. For example, if your salary is ₹50,000/month, your car EMI should ideally stay under ₹10,000. Use a car loan EMI calculator to determine how much loan you can afford before buying.
2. Q: Which is the best SUV under ₹20 lakhs in India (2025)?
A: Some of the best SUVs under ₹20 lakhs include the Hyundai Creta, Tata Harrier, and Mahindra XUV700. These offer great mileage, safety features, and long-term value. Use a car budget planner tool to match these SUVs to your salary and loan eligibility before deciding.
3. Q: How can I calculate my car loan EMI in India?
A: You can use an online car loan EMI calculator by entering your loan amount, interest rate, and tenure. For instance, a ₹10 lakh loan at 9% interest for 5 years will have an EMI of around ₹20,758/month. Always ensure this EMI fits within your 20% income bracket.
4. Q: What are the best tips for buying a car on a budget in India?
A: Here are a few smart tips:
- Determine your max budget using a smart car budget planner.
- Choose cars with low maintenance costs and good fuel efficiency.
- Get car insurance quotes online to find the best deal.
- Check for used cars in good condition if you want a premium model at a lower price.
5. Is it better to lease or buy a car in India for salaried individuals?
A: Buying a car makes sense if you plan to keep it for more than 5 years. However, leasing is ideal if you prefer changing cars frequently and want lower upfront costs. Always use a car budget calculator and compare car loan EMI vs. lease payments before making a decision.