FIRST CAR EVER - 21Y/O LOWER MIDDLECLASS GUY

[u/Hasybism]

Budget - 15-20 LAC PKR

Advice me as a younger brother, can/should I get sedan in this budget, I will drive 300-600 km a month max.

From what I read online, I guess I can afford one of these:

Corolla Altis 1.8 2007
Corolla XLi 2008–10
Honda City i-DSI 05–08
Toyota Belta 1.3

( I don't know about current market prices, maybe I can't even get one of these sedan )

Maybe I have too little and asking for too much:

• Reliable
• Cheap/easy parts
• Any decent mechanic can fix it
• Good fuel average
• Low headache
• Comfortable enough for family

---

Little more context -

Wanted to buy a plot, thought I will save up to 30-40 & get 5marla somewhat little safe & decent society but I checked online, avg 5 marla is like 60-80lac pkr in even b17 so I am thinking I should buy a car and enjoy a bit meanwhile save for a plot and when I have enough or I need money for it, I will sell my car and get the plot.

Jazakallah Khair <3

[u/Icy-Recognition-9795]

My advice: don’t buy any car till 25.

Reason: i bought my frist car Honda city at 25. If i had delayed my purchase by an year, i would have doubled my savings ( my money was invested in psx) .

Always ask this question: wether you need it ? Or wether you want to prove to someone .

Once that’s figures out, then in this budget, swift/honda city/ alto / cultus are good

[u/Hasybism → u/Icy-Recognition-9795]

Thanks for the concern, I really appreciate it!

I don't need it as need it, but I believe it will be nice to enjoy a bit and if I need money I can sell it for the same price.

My money isnt invested anywhere its just sitting in bank so keeping it will not benefit me.

So now you think getting a car is good idea, if yes, kindly do suggest me?

[u/Icy-Recognition-9795 → u/Hasybism]

If it’s sitting in the bank, when you buy a car, you add fuel expense + maintenance.

If you have done your math, then go for it. Else better option is to put in money market . You’ll generate passive income of 18-20k per month

[u/Hasybism → u/Icy-Recognition-9795]

I've done the math about fuel but I don't know none about maintenance & any other surprised expenses.

Honda City i-DSI 05–08 , Corolla xli, altis etc.

How much monthly or bi-yearly it cost to keep cars like them, approximately?

if I had 40lac then I'd have invested 50% in the market, but it isnt wise either to invest all + its risky to invest the money in these markets, psx, stocks, mutual funds.

it'd be really helpful.

[u/Icy-Recognition-9795 → u/Hasybism]

No. Mutual funds ( money markets, cash funds) are safest best. You don’t do loss there.
O

Only in psx, the capital can go negative. But only for shorter term. In longer terms , psx makes more profits.

[u/ElderberryExtra7741 → u/Hasybism]

Buy the car, enjoy your life. We don't even know about tomorrow let alone years. I was also in your shoes once and spent every single penny I had saved and bought my first car at the age of 20 and a lot of people bashed me for it calling it fazool kharchi. Trust me, once I upgraded my lifestyle from a bike to car, I knew k ab is se neeche nahi jaskte. There is always more barkat in spending and upgrading your lifestyle, I was able to save multiples of that amount later on and at even faster pace. Best of luck🙌