Planning to buy a car? Here’s how much you SHOULD spend based on your salary

Budget Cars: Are you looking to buy a car? Are you buying a car that fits your salary or monthly income? Let's find out in detail how much people earning should spend on a car.

Buying a car is a significant financial decision, and choosing the right one within your budget is crucial. Many people wonder how much of their salary they should allocate to a car purchase to avoid financial strain. In this guide, we’ll help you determine the ideal car budget based on your income, explore budget-friendly options in India, and provide tips to make a smart purchase without affecting your financial stability.

These days, a car is a status symbol. Many buy cars for status, spending more than needed. Buying a bigger car than others can hurt your finances. Car companies offer various deals to sell vehicles: zero down payment, 100% loan, low EMIs. Marketing teams convince you to buy pricier cars.

Let's see what range of car you can buy based on your income from job, business, or agriculture. If your salary is Rs 75,000, you can buy cars up to Rs 7 lakh. Models like Maruti Dzire, Baleno, Tata Punch fall in this range.

If your salary is over Rs 2 lakh, buying cars under Rs 15 lakh is better. Cars like Mahindra XUV 400/700, Tata Harrier are available.

Mahindra Scorpio Carbon Edition

In conclusion, buying a car within your budget is not just about finding the best deals—it's about aligning your purchase with your financial goals and income. By calculating how much you should ideally spend, you can explore budget-friendly options that offer both quality and value, ensuring that your dream car doesn’t turn into a financial burden. Remember, the key to smart car buying is planning, research, and staying within your means. Happy car hunting!