Own Car vs Rental Car | Which is Profitable | Money Series 7 | In telugu | Vikram Aditya | EP#237 - YouTube

Hey man! Ramarav! Why are you here?

I got on a small work here Nageshwarao. By the way, how are you?

Am doing good Ramarav

I also started following you. Since you suggested to buy own house, I bought a own car

You bought a new car! good to hear that

But in my view, buying an own car is not as good as a own house

What! Do you mean buying a new car is not good? Are you crazy

Am not crazy! In my view buying a car is not correct Nageshwarao

You tell me Nageshwarao, why did you buy a car?

Why would anyone buy a car? Comfort! For convenience it can give compared to the bike

I agree that traveling in car is comforting. Why should we buy a new one when we have Ola, Uber?

Despite the Ola, Uber and more, the comfort and satisfaction that the new car offers is unmatched

Just because you are earning, should not spend on unnecessary things Nageshwarao. You have to save as much as possible

What! Should we save as long as we live without even knowing how long we are going to live?

Not just earning, you should also know spending it. Looking for the small luxuries in life is not a mistake

If we want, we can earn a little more. Even when thought of it as calculative like you, the car is also an asset

A house is like a property that adds value over time, whereas the car depreciates over time

There is a lot of difference between the two Nageshwarao

Ola, Uber price is also not cheap, they are also more costly than a own car sometimes

Nageshwarao It's not mandatory to travel luxuriously, there are also low cost solutions like Rapido bike, Car pooling, Ola bike and many more

We can travel at a very low cost compared to own car

By traveling like this, even if we do not know the route to the destination, the driver will take us

Knowing the route is not a big deal these days Ramarao.

When we turn on Google Maps, it says "Left, right, your destination has arrived" and shows the way to the destination.

Nageshwarao, instead of buying a car you can buy useful items like gold to your family

There is no bigger thing that makes my family happy than buying a car. In fact they are more happy than me to buy a car

And we go for long drives in the car once a week which feels like a small get together.

What can be more happy than this?

because it gives happiness, if a middle class person buys a car beyond his financial state

He may be happy for one month

But, every-month paying for EMI, petrol, maintenance etc. becomes very expensive

For the craze to buy a new car, it's not right to be happy for a month and get in trouble for the next few years

A car doesn't serve the same purpose to everybody, Ramarao. For people into business, a car is also like an investment

They will be able to do more work after buying a new car than in a rented car

If someone wants to buy a car, they take a loan at the bank.

If we estimate the price of the car to be Rs 7 lakh, we will have to pay 15000 EMI every month

But if we invest the same Rs 15000 in the bank as RD, it will turn into Rs 15 lakh after 7 years

With that money, we can buy a big car Naeshwarao

Here you are only thinking about saving money. But as a man of today’s generation I think owning a car can save a lot of valuable time

There will also be good health and peace of mind with which we can make more money

We may also feel very sad for a small scratch on our own car

if any accident happens by mistake, we have to pay a lot for it

Do you say that accidents do not happen in a rental car? Fate does not know the difference between own car and rental car

Yes Nageshwarao, any car can meet with an accident

If our own car meets with an accident, we will be involved in mental stress, financial loss, and legal cases

Do you know that the people riding bike meet 10 times more accidents than on car?

Rents are very high in cities these days. Another loss with having a car is

we have to pay extra rent for the car parking space also

You do not have that option in apartments. Even if you have a car or don't, you still have to pay rent, including car parking

When you are already paying rent, what is wrong in using that facility

Some people who are unfamiliar with driving hire drivers for cars, they should be given extra salary

They have to pay Rs 10,000 to Rs 15,000 per month and this can be a big expense over time

While the driver is driving our car, we can sit in the back seat and relax

or we can work in the laptop or attend any important call

Another thing with Ola and Uber is that they charge a waiting charge when we get stuck in traffic.

Own car or rented car is the same when it comes to traffic.

But when the rental car gets stuck in traffic, you can get off and pay the driver right there and look for an alternative to travel in a different route

Everything you are looking will be in Ola and Uber car

Is it ? say a family going to their hometown 2 hours away in a car

Before leaving, they can save some motivational speeches on the pen drive and listen to them in the car speakers.

the educational use it offers to children will be extraordinary

We can’t do such things in a rental car, however we need a private space. In my view own car is perfect

In my view, rented car is correct Nageshwarao

You will not accept that I am right and I will not accept that you are right. How do we know who is right?

There is one person who could tell which of the two of us is right

What! Is he wiser than both of us? Who is he by the way?

That's me! Hi everyone, this is Vikram Aditya and welcome to my channel

Till now you heard about the argument between Ramarao and Naeshwarao

Which is advantageous own house or rented house? I made the characters answer to this question in my money series-2

But in this video I will give a proper conclusion

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Alright! Let's get into the actual story now

Like a coin has two sides, own car and rented car has their own pros and cons

In case if you are rich, rule out the question of what is best among own or rented car

Since you have enough money, you can buy the car you want according to your financial status

All calculations here are for a middle class person only

Own car has become a prestigious issue in our society right now

Most people buy a car without the need for it

let's do a small calculation now

In the current market, a typical car costs at least Rs 7 lakh along with insurance, taxes and accessories

Let's say you bought the car with a bank loan

Let's look at the cost per day to buy that car.

The EMI of the bank loan is Rs 12,000 per month, which is Rs 387 per day

Insurance premium is 10,000 Rs per years, which is 27 Rs per day

The cost of petrol for every 30 km per day is Rs 150

The tires are to be replaced once in 3 years at a cost of Rs 10,000, which cost Rs 9 per day

The price of batteries is Rs 3500 once in 3 year, whose per day cost is 3 Rs

Car maintenance such as cleaning and repairs can cost up to Rs 10,000, costing Rs 27 per day

If you hire a driver, he should be given a salary of Rs 10,000 per month, which is Rs 333 per day

So if you buy a car worth Rs 7 lakh and drive 30 kilometers a day by hiring a driver, the cost per day becomes Rs 936.

But if you drive the car by yourself without a driver, the per day expenditure is 603 Rs

If you use Ola and Uber, the daily cost per day is 400 to 450 rupees for 30 kilometers

So you can save Rs 480 to Rs 530 per day for 30 km by using a rental car rather than own a car

So you can save more than 15,000 Rs per month

Before buying a car you should note 3 important things without going for false reputation

First one, If you go more than 30 km per day in a rented car, it is better to buy your own car

Second, if you spend Rs 500 per day using Ola and Uber cars, then also you can buy own car

Third, after meeting basic financial needs like a house, children education, life insurance, Pension

then you can think about buying a car

Another thing is that the price of the car you want to buy should not exceed your salary per year. Go for as least as possible

But never buy a car beyond your financial status for a false prestige

Consider buying a car only after fulfilling all three conditions

Understood?

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Keep smiling

This is Vikram Aditya. Signing off, bye