Hey everyone! I am keen on buying a new car however I don't want to own it, specifically, I want it either on a lease or on EMI. I don't know whether those two are the same or not because on one you can get some tax reductions (which will help me a lot!). I am looking at buying either a 3series or 5series BMW or a Q3/Q5 Audi or Volkswagen Passat/Tiguan. Kindly help me to figure out how to buy a car without paying the entire amount all at once.
For salaried individuals, no tax benefits are available if you have taken a car loan. Deductions from payable tax can be availed only if you are self-employed or a businessman, and you declare the profit or capital gains earned from your work or business, or if you purchase a vehicle for business use.
To get the car on lease, you need to co-ordinate with the respective brands you wish to buy.The lease will have to be taken in the name of your company. Though there is no down payment or security deposit, you do have to submit a few documents. Since you will be getting the lease in your company's name, you will have to submit documents such as financial statements, electricity bills (as proof of address). Lease plan allows you get the mobility without the hassle of owning and managing it. At the end of the tenure, simply return the car and take a new one. All this, for just a fixed monthly payout.
Secondly, if you wish to purchase the car on loan, you have to pay the initial down payment i.e 20-25% of the ex-showroom price approximately and rest of the amount is financed and converted into EMI's.
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Hi Team, You are doing really a very good job and hearty wishes to continue the sane .I am in planning to buy Nissan sunny XL Diesel model .But i dont know about the maintenance cost .Can you guide me the prons and cons on after service of Nissan .Thanks in advance
Thank you for the appreciation. It means a lot.
The car that you have shortlisted is a great option. It offers fantastic cabin space with comfortable seats and smooth ride quality.
Approximate maintenance cost for Nissan Sunny diesel variants in 5 years will be Rs. 32,170. These charges doesn't include labour cost & tax.
Please click here to see the detailed information of maintenance cost.
For the confirmation on the same, we recommend you to get in touch with the nearest Nissan service centres. Click here to find the Nissan service centres, select the Brand & City accordingly.
Hello, Will there be any effect of GST on vehicles. I want to buy vitara brezza and was wondering when to book it. Either before or after the implementation of GST(i.e. 1st of July). Kindly suggest. Thanks beforehand ! Regards, Prasoon
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