Unless be it for prestige and better status in society, it does not make any sense to get a new car technically in the financial sense, if you do not spend more than a fixed sum every month. Let us see how it is reasoned out...
Any car in India costs at least
Scrap value after six year
Net amount which goes in effective life of six year
Nos of days of six years
a. Depreciation per day in six years
b. Yearly insurance premium of Rs 15,000
c. Daily petrol, minimum
d. After every 3 yr tyre & Battery change charge, Rs 25,000 i.e.
e. Yearly maintenance of car Rs 9000 i.e
f. If driver is employed, because Uber comes with a driver
g. Interest loss on Car buying amount @8% on Rs 6,00,000
Total daily expense after buying new car
Rs. 850 / day
If u agree, share for the benefits of all. This is called financial planning.