Mahindra Thar has got some next level craze these days, but do you know how much you should earn to afford a Mahindra Thar Diesel variant ?
Watch the video to know the details...
In the world of finance, we have rules for every other thing... like for example - for buying a brand new car, we have a rule known as 20/4/10 rule, wherein you should atleast pay 20% down payment of the overall car value, your loan tenure should not be more than 4 years and your total monthly expenditure on running and maintaining the car should not be more than 10% of your monthly income...
Now these rules are not necessarily to be followed point to point, but it's recommended to atleast follow them roughly...
Practically, most people opt for a 5 years loan, so I have used that in my calculations, instead of 4 years loan...
Also, to calculate the income/salary to own Mahindra Thar, I have just considered the EMI and not the overall running and maintenance expenses like diesel and car service cost...
Ideally you should take these things into consideration while taking any decision of purchasing a brand new car...
Note - I have shared the numbers for top variant as well as base variant... you may choose to buy any other variant as well... but the numbers will atleast give you a reference point....
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