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  • Buying A Car V/s Hire A Cab: A Superb Analysis

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    Buying a car costs at least Rs. 6,00,000 whereas the scrap value after six years is only Rs. 1,00,000, resulting in a net cost of Rs. 5,00,000 over six years. Owning and maintaining a car over this period, including insurance, petrol, tires, batteries, and general maintenance, would cost Rs. 850 per day on average. In comparison, hiring a cab through services like Ola and Uber costs around Rs. 300 per day plus a driver is provided. Therefore, it is more financially advantageous to take cabs until daily ride costs reach Rs. 850 instead of owning a private vehicle, especially considering the mental stress of driving

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    Buying a car costs at least Rs. 6,00,000 whereas the scrap value after six years is only Rs. 1,00,000, resulting in a net cost of Rs. 5,00,000 over six years. Owning and maintaining a car over this period, including insurance, petrol, tires, batteries, and general maintenance, would cost Rs. 850 per day on average. In comparison, hiring a cab through services like Ola and Uber costs around Rs. 300 per day plus a driver is provided. Therefore, it is more financially advantageous to take cabs until daily ride costs reach Rs. 850 instead of owning a private vehicle, especially considering the mental stress of driving

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    10 views1 page

    Buying A Car V/s Hire A Cab: A Superb Analysis

    Uploaded by

    Anonymous nvSv1i374A
    Buying a car costs at least Rs. 6,00,000 whereas the scrap value after six years is only Rs. 1,00,000, resulting in a net cost of Rs. 5,00,000 over six years. Owning and maintaining a car over this period, including insurance, petrol, tires, batteries, and general maintenance, would cost Rs. 850 per day on average. In comparison, hiring a cab through services like Ola and Uber costs around Rs. 300 per day plus a driver is provided. Therefore, it is more financially advantageous to take cabs until daily ride costs reach Rs. 850 instead of owning a private vehicle, especially considering the mental stress of driving

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    © All Rights Reserved
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    Buying a Car v/s Hire a Cab: A superb Analysis

    Any car in india cost atleast Rs 6,00,000


    Scrap value after six year - Rs 1,00,000
    Net amount goes in effective
    Life of six year Rs 5,00,000
    Nos of days of six yr is 2200 days

    So Rs. 5,00,000/2200 = Rs. 230/day


    Yearly insu Rs 15000* = Rs 41/day
    Daily petrol minimum = Rs 100/Day
    After every 3 yr tyre & Battery change charge
    Rs 25,000 i.e. = Rs. 23/day
    Yearly maintanance of
    Car Rs 9000 i.e = Rs 25/day
    If driver employed ( bcas)
    Hire a cabe comes with a driver =Rs 300/day
    Plus interest loss on
    Car buying amount
    @8% on Rs 6,00,000 = Rs 131/day
    _____
    So total daily exp is
    After buying new car = Rs 850/= per one day.

    ⚖⚖⚖⚖⚖⚖⚖⚖⚖⚖⚖

    So friends untill you pay Rs 850 daily to hire a cab you are effectively in gain travelling in rental car.

    OLA / UBER now available

    Above all driving cars on Indian roads is full of risks and Mental tension/BP

    Make use of METRO wherever available

    If u agree share for the benefits of all.

    This is called financial planning and thinking of National Interests

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