New Delhi. Nowadays a person has some dreams which he wants to fulfill. When a person starts studying or earning, then he makes the same thought in his mind that he wants to build or buy his own house and buy another car. Nowadays how many people dream of a car. For this, the person gets ready to give loan every month, but it can be harmful for us in future, so if we want to buy a car, then there are some rules which should be kept in mind. So let us know that while buying a car, keep some things in mind-
In such a situation, when you are planning to buy a car, then you should first make up your mind to buy a car according to your salary. After this, you should also keep in mind that what features do you need in the car. Along with this, today we will tell you two rules, especially when you go to buy a car, keep these things in mind.
Spend only half of your annual income.
If you are planning to buy a car, then first of all keep your salary in mind and do not invest more than half of your annual income in the car, otherwise this deal can make you face problems. For example, suppose if your annual income is Rs 12 lakhs, then keep in mind that you should buy a car within 6 lakhs only and it should be 6 lakhs onroad. With this you will not have to face so many problems.
This rule of 20/4/10 says that while buying a car on loan, make a down payment of at least 20 percent of its cost, then the loan duration should not be more than four years. Along with this, the EMI of the car should not be more than 10% of your salary. If you follow this rule, then you will not face so many difficulties even after buying a car.