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Why buying a new car does not make financial sense

In India owning car has always been a matter of pride. Such has been the craze that in the past people have waited months if not years to get delivery of their cars after booking. In fact, buying a car has been looked at as a first step towards independence by young professionals.

However, the rising maintenance cost of cars due to bad roads, congestion and the lack of parking space in cities is increasingly making driving a car difficult. In cities like Delhi, Mumbai and Bangalore driving during peak hours can be a back breaking task. It’s no wonder then, with radio taxis and cab service providers like Ola and Uber, driving your own car doesn’t seem much of a big deal. Increasingly, for urban Indians, convenience of travelling hassle free seems to trump the aspiration to own one.

For those of you still looking to buy your own car, take a look at why owning a car doesn’t make financial sense.


If you still need more convincing, here are some more benefits of calling a cab, which you might want to mull over:

  • There are no parking charges to pay at malls or your apartment complex
  • You don’t have to deal with parking violations or pesky tow trucks
  • Splitting fare in a cab pool is so much easier than a car pool, and don’t forget you get to meet interesting people every day!
  • Even CEOs of companies are travelling by cabs, you never know you might just land your new job, while sharing a cab
  • You’ve got multiple payment options, link your wallet, debit card, credit card or you bank account
  • You’ve also got multiple promotional offers you can use to get discounts on your ride.
  • There are no off days, there is always a cab available, if only just a few minutes away! So, say goodbye to your driver and the daily dramas.
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