Owning a car is a status symbol in my country. The craze for car among the #millennials as well as other generation of people is so much that an individuals always likes to own a car as soon as he or she find a stable source of income. Even if there is no income source, few people still like to possess one to make style statement in the society. People are ready to loan it and incur additional expenses. India's car culture is evolving from functional necessity to a vibrant passion, driven by aspirations, media, community, and a deeper appreciation for the machine itself. The way cars are portrayed in movies, advertising, and social media, are reason that shapes public perceptions and reinforces certain values associated with automobiles. This shift from basic mobility to aspiration and passion is fueled by economic growth and better infrastructure, making car ownership more attainable and enjoyable.
The recent tax rate deduction in vehicle insurance have fueled the craze once again among the people. This Sunday, my nephew took me to a nearby car showroom to enquire about a new vehicle. Although he bought one last year. But the young blood in him always like to remain a step ahead when it comes to luxury vehicle. In India, the demand for automobile were on rise on during festival season especially during "Dusshera and Diwali". The car dealer put up heavy discounts and other offers to woo the customers. But nowadays there is another trend engulfing among the public to own a car during the year end, especially during the last week of the year. This is a hidden tactic that slowly coming out, thanks to the some viral videos through social media handle. To clear their stock inventory and meet the sales targets, the car dealers offer significant discounts, better financing, and freebies, making deals more attractive during the year end. The fraction of days during the year end may bring a huge difference in car manufacturing year. Buying an older model year e.g. a 2025 model in Dec 2025 can mean it's a year older on paper immediately, but the significant discount that we gets often outweighs this if you keep the car for long-term.
"I never like owning one"
I came from that orthodox school that always support the "use-case" of vehicle than simply owning it. I have been to car showroom multiple times while I was at work in Delhi. Every time I go through the paper work availed all the discounts and then back off. Driving a car in crowded city like #Delhi is always a headache. To put it differently, I never find any usage of car in the city. My office cab fulfil the conveyance need, the cab rental like of Uber and ola cater the other need. This makes a car simply useless thing to own. The other reason is that the investment on car is worthless. As soon as the the vehicle is out of showroom the car get depreciated. I personally believe that, the money spent on a car could be invested in appreciating assets like stocks or real estate, which have the potential to generate higher returns over time. Buying a personal car is not a good financial investment because it is a rapidly depreciating asset.
"A car is like keeping an elephant"
My uncle used to say that, owning a car is like keeping an elephant at home. With so many offers, buying a car may be easy, however, maintaining and caring for it is very difficult, expensive, and fraught with responsibility. Just like taking care of an elephant. One should, consider the total costs, not just the purchase price. You must budget for fuel, insurance, maintenance, and other related expenses.
It does not mean that owning a car is completely waste of money. But I assume, a person should consider buying a car if they make use of it in their regular commute. Or if they, live in a remote area with limited public transport option to cater their need. In my nephew case, he frequently needs to travel to meet his client. And the car is probing very helpful to him. If the job or lifestyle requires you to travel to many different places at different times and you need flexibility, a car offers convenience and freedom.
What is your perspective on owning a car. Is it "good" for you?
In good faith - Peace!!
I've never purchased a new car in my life. I have always owned used cars that have fairly low miles on them. I can usually get about 10 to 15 years out of one before I need to replace it.