It's amusing to see you at a law firm; perhaps pursuing business management and joining your father would have been a more fitting path instead of graduating in law.
Unless you're a mad car enthusiast, please don't unnecessarily spend on top end cars. Buy a mid range decent car when you can and later on don't fall for the urge of getting a luxury vehicle, the mid range segment is good enough! Trust me, no client is bothered about what car you drive as long as you're giving top class service! Be modest - in fact I know of a managing partner who's retained his old office (and hasn't moved into the corner office) just because he's modest enough!
So don't fall for these 'traps' - save and invest smartly for a rainy day (read: freedom to just kick the job anyday).
As for me, I'll be slaving away for many many years - thanks to Mumbai and it's real estate prices. But that's a choice I've made, not everyone has to :)
Don't get Skoda (or VAG in general). With law firm life, you won't have time or energy to coordinate with the service center 16 times a year when something inevitable stops working. I had a Polo GT TSI. Absolutely garbage and unreliable in Mumbai. Driven it only ~3000km in 2 years because half the time it was in the service center. Sold it this month, thankful that used car prices have risen due to chip shortage.
Gordon, my father is a self-made man, belongs to a poor agriculturist family and he turned his fortunes around. He is much more educated and intelligent than I am despite his highest formal education being a vocational diploma at a governmental Industrial Training Institute (ITI). So we have to prove ourselves before we join the business.
My brother an engineer, worked for 2 years with a Fortune 500 petrochemical company, then did his MBA from a renowned business school and worked for another 18 months at another Fortune 500 consumer durable company (my dad runs a conglomerate with the bulk of revenue coming from consumer durables) before he joined my Dad's company. At my Dad's company, he got only a 30% hike from his last drawn CTC and that too because he had his other offers on hand. Yes, one day he will pass on the mantle to both of us but only when we prove ourselves. Similarly, my Dad's company doesn't work with my employer, much to the dismay of my partner.
So, the point is I got an expensive car because my Dad was in a good mood not because I asked for one and he obliged. I used to travel by Micra/Activa before my job and still do at times. My dad's cars were off-limits if we wanted to drive them ourselves so we would take them only if we were going to relatives or family friends.
All this is not to say that I am struggling otherwise or facing hardships. I live a very good life but it is not as extravagant as they make it out in the movies. My dad would kick me out of the family if he starts believing that I am going to be a slacker. So as much as I would like to buddy I cannot simply go on an impromptu world tour.
Baleno, after 4 years (2 years in T2, 2 years in T1). Pay rental as well. Now 5 years have passed. Car is working great. But I am planning to move it to my hometown to someone in the extended family and buy myself the upcoming XUV 700.
Note: I have always been a car/ road trip enthusiast and like to cover long distances on the road. This is one passion I have managed to keep alive despite the law firm life. If you are equally cool with taxi and dont do road trips - get a hatchback and invest the remainder. But do get a car. Very very useful if you are living alone in a metro (and especially if you are a woman).
No, not Jindal. I graduated from a mid-tier NLU. Not all of us rich kids go to Jindal. Though I must admit, if I had known the kind of untoward attention I will get in law school, I would have rather gone to Jindal. I lived as per the means allowed to be my family and I am not ashamed of it. I never rubbed it in people's faces but they just had an issue with it. The worst part is every moron who hated me for my dad's money used to think that I should spend it on them by paying up for their food, or covering everyone's share if we are going out together. Some of them thought it to be the 'equitable' solution. I never asked anyone to go that one fancy place, I was happy at the nearby thela too but people just assumed if they are going out with me, I will be footing the bill.
When I was an associate, I lived and worked in London. When I returned to India as a PA, I drove a Civic. When I became a partner, I had a BMW X1. After becoming an equity partner, I bought a Boxster S and subsequently a 911 cabriolet. Now I wish it was all funded by my FIL... but alas, I have to work hard, pay EMIs, be a rainmaker at the firm..... You see, only Baba's get things on a platter... not me...
If you're from a family where daddy is gifting GL350 on getting a job- then why're you wasting time at a law firm bro? financially it doesn't make sense as daddy's gift is your 7-8 years working at a law firm (net worth wise). Travel the world, open a cafe at cuba, climb a tree, get a pet monkey..but don't watch your life fritter away taking calls and responding to emails!
Back in 2013, when my parents were still in Mumbai, I bought a Polo GT TSI. Still have it and use it. Doubt I'll be getting another car soon. Ps. - would not have been able to afford it if I had to pay rent.
If you know how to drive, please get a car in Delhi. Distances are humongous. Metro isn't great for last mile. Uber/ola atm isn't great for covid reasons.
I'm an A2 and planning to purchase a Skoda Kushaq later this year. Making this purchase just because I am an automobile enthusiast, else, spending on such a depreciating asset is not a wise financial decision.
My dad had gifted me a GL350 when I had got my first job. I haven't taken it to the office yet partly because of WFH and in part because I don't want my colleagues and superiors to despise me because of it. I faced similar issues in law school, so now I go out of the way to make sure that folks in office do not have any idea about my financial standing.
They will be saving that money, so that to have a financial cushion, when thier health deteriorates and lifestyle disease creep in from law firm work - no life balance.
The three PQE2 associates I know at Khaitan and L&L (lol) have not purchased any car so far, they're still saving. Especially because of WFH. They either use whatever cars their family had for them to use (if any) or take an uber/metro.
One of them planning to buy has been looking at Suzuki Swift and similar cars in that segment. Which is wise, I think. No point spending crazy money on a depreciating asset.
I haven't yet moved to my office location but wouldn't it be too much of a hassle to own a car in cities like Bombay or Delhi? I'm sure associates would not be able to find decent parking space in office buildings in lower Parel, BKC.
So don't fall for these 'traps' - save and invest smartly for a rainy day (read: freedom to just kick the job anyday).
As for me, I'll be slaving away for many many years - thanks to Mumbai and it's real estate prices. But that's a choice I've made, not everyone has to :)
My brother an engineer, worked for 2 years with a Fortune 500 petrochemical company, then did his MBA from a renowned business school and worked for another 18 months at another Fortune 500 consumer durable company (my dad runs a conglomerate with the bulk of revenue coming from consumer durables) before he joined my Dad's company. At my Dad's company, he got only a 30% hike from his last drawn CTC and that too because he had his other offers on hand. Yes, one day he will pass on the mantle to both of us but only when we prove ourselves. Similarly, my Dad's company doesn't work with my employer, much to the dismay of my partner.
So, the point is I got an expensive car because my Dad was in a good mood not because I asked for one and he obliged. I used to travel by Micra/Activa before my job and still do at times. My dad's cars were off-limits if we wanted to drive them ourselves so we would take them only if we were going to relatives or family friends.
All this is not to say that I am struggling otherwise or facing hardships. I live a very good life but it is not as extravagant as they make it out in the movies. My dad would kick me out of the family if he starts believing that I am going to be a slacker. So as much as I would like to buddy I cannot simply go on an impromptu world tour.
Note: I have always been a car/ road trip enthusiast and like to cover long distances on the road. This is one passion I have managed to keep alive despite the law firm life. If you are equally cool with taxi and dont do road trips - get a hatchback and invest the remainder. But do get a car. Very very useful if you are living alone in a metro (and especially if you are a woman).
Request all to please also specify whether you have your own (papa mummy) house in delhi or whether you pay rent, when you tell about your car.
Many law firm partners drive unclassy cars
Zindagi apni, ghamand bhi apna
I lived as per the means allowed to be my family and I am not ashamed of it. I never rubbed it in people's faces but they just had an issue with it. The worst part is every moron who hated me for my dad's money used to think that I should spend it on them by paying up for their food, or covering everyone's share if we are going out together. Some of them thought it to be the 'equitable' solution. I never asked anyone to go that one fancy place, I was happy at the nearby thela too but people just assumed if they are going out with me, I will be footing the bill.
When I returned to India as a PA, I drove a Civic.
When I became a partner, I had a BMW X1.
After becoming an equity partner, I bought a Boxster S and subsequently a 911 cabriolet.
Now I wish it was all funded by my FIL... but alas, I have to work hard, pay EMIs, be a rainmaker at the firm.....
You see, only Baba's get things on a platter... not me...
Batch of ?
Ps. - would not have been able to afford it if I had to pay rent.
Hee Hee Hee!!!
(Money Heist people would understand)
One of them planning to buy has been looking at Suzuki Swift and similar cars in that segment. Which is wise, I think. No point spending crazy money on a depreciating asset.