I am a PA at a tier one law firm. Entry level German cars start around 45 lakhs, which is not really affordable for me. Is it safe to go for second hand options or shall I settle for a Skoda?
1. A new Skoda/Honda car will last you 8 years without any problem. The luxury car will probably be 5-7 years old already, its problem-free lifecycle is almost over. The remaining 8 years will be full of some or the other issue - AC, power windows, gearbox, clutch, etc.
2. Each time there is an issue, it is going to cost a bomb. Even a broken side mirror will cost you 30k for an Audi, windshield wipers for 20k.
3. You'll always feel it's second hand. If paying for something in lakhs, why not feel like it's fully yours!
4. People don't give two hoots about what car you drive. They only care about themselves. Spend that extra money on something nicer and meaningful for yourself!
Most people with 7-8 years in a T1 law firm can afford it. Equity Partners can afford much more. It all depends whether people make that choice because it's certainly not the most prudent financial decision. Nonetheless, I've met people who have always been passionate about cars, and I personally believe such people should save and splurge on a German their range can allow.
This job will take everything from you. Give something back to yourself too. Not everything in life needs to go by a rulebook.
Skoda all the way boss. The Germans have insane upkeep prices plus come with a very tight ticker if you're based in Delhi because you only have 10 years to drive those babies without getting caught by mamas on the road and being charged the premium bribery cases.
Pick up a second hand car. Even with the costs of maintenance factored in, you will save money. They are a pleasure to drive even after a few years of ownership.
Why? (This is coming from a big-time automotive enthusiast). I would blindly tell you that pretty much any car in the 25-40L segment is leagues ahead of an entry-level Mercedes (A Class/GLA). There really isn't any prestige associated with a tiny overpriced German vehicle. Further, the maintenance costs for a car of that nature is ridiculously overpriced.
You also haven't considered other things that happen at this age. Housing, Marriage, Long-term financial goals, or maybe personal expenditure (Medical, Family etc.). Things that are much more important than some pseudo-prestige that you crave.
1. A new Skoda/Honda car will last you 8 years without any problem. The luxury car will probably be 5-7 years old already, its problem-free lifecycle is almost over. The remaining 8 years will be full of some or the other issue - AC, power windows, gearbox, clutch, etc.
2. Each time there is an issue, it is going to cost a bomb. Even a broken side mirror will cost you 30k for an Audi, windshield wipers for 20k.
3. You'll always feel it's second hand. If paying for something in lakhs, why not feel like it's fully yours!
4. People don't give two hoots about what car you drive. They only care about themselves. Spend that extra money on something nicer and meaningful for yourself!
This job will take everything from you. Give something back to yourself too. Not everything in life needs to go by a rulebook.
Secondly, buy it if you want to drive it and enjoy the experience.
Don't waste your time worrying out the approval of people around you.
You also haven't considered other things that happen at this age. Housing, Marriage, Long-term financial goals, or maybe personal expenditure (Medical, Family etc.). Things that are much more important than some pseudo-prestige that you crave.
So yes, go for it.