Thinking of Buying Used Car on Finance from Spinny
I live in Gurgaon, my in hand salary is 34,500 after deductions.
I was thinking of buying used car on finance through Spinny showroom in sohna, Gurgaon.
They currently have a 2019 Maruti Suzuki Alto 800 LXi on sale for 2.70 lakh base model.
I have almost 1 lakh on savings and I was thinking of putting down 1 lakh for down payment and rest finance.
Principal amount will be 1,75,900 and I will paying 39,821 interest.
Do you think this is right investment strategy as the car won't expire and is relatively new. Plus, it would last me a decade.
EMI is coming down to 6,537 per month.
After all my expenses I save around 14,000 per month.
Also, my company is offering 1200 monthly reimbursement in fuel so I won't be burdened with fuel cost completely. Monsoon is coming as well, I know it means more jam, but maybe I can get some colleagues to carpool with me as well.
However, I am still afraid to pull the trigger.
Posted Jul 5, 2026, 12:20 PM UTC