Uber v/s Buying A Car

Uber is a better choice today than buying a Car

How many of you have dreamed of a chauffeur driven car where all you want is to travel comfortably to your destination?

In today’s world travelling takes up the major time and for the majority of the people “Time is Money”. The affordable way to utilize your time is by doing your minor work like sending emails or calling up clients, etc. You can hardly do this if you are travelling by train, bus or rickshaw. Car is an apt choice if you want to utilize your time efficiently.

Do you think buying a car is a good choice or do we have an alternative? Uber is an economical alternative choice for all those who choose to drive rather than using local modes of travelling like train or bus.

Any car in India(Minimum cost) Rs 6,00,000
Scrap value after six-year Rs 1,00,000
The net amount goes in effective
Life of six-year Rs 5,00,000
Nos of days in six yr is 2200 days
So Rs. 5,00,000/2200 Rs. 230 /day
Yearly insurance Rs 15000 Rs 41/day
Daily petrol minimum Rs 100/Day
After every 3 yr, Tyre & Battery change charge Rs 25,000 i.e. = Rs. 23/day
Yearly maintenance of Car Rs 9000 i.e = Rs 25/day
Yearly maintenance of Car Rs 9000 i.e = Rs 25/day
If driver employed ( bcas)
Uber comes with a driver Rs 300/day
Plus interest loss on Car buying amount @8% on Rs 6,00,000 Rs 131/day
So total daily exp is After buying a new car Rs 850/day
So, till you don’t cross this limit of Rs.850/day by hiring a cab you can happily travel in Uber. If you still want to buy a car it is fine until it is a planned move. If you agree, share this with your friends. This is called Financial Planning.

For everything else, Money Anna is there to help!