3 Oct, 2023
Steer Toward Your Dream Car with Mutual Fund SIPs
Did you know that a small decision of Buying a car of 10 Lakhs v/s Planning SIP to delay the Decision can Save you ₹ 3 Lakhs.
Ayush had a burning desire to own his dream car. He had to choose between two paths: taking a car loan or using his savings.
Both choices have their merits, but he wanted to make the most informed decision. So, he decided to seek advice from his financial advisor.
Discussion began, a car loan would mean immediate ownership of your dream car, but it comes with interest and monthly installments. However, a SIP Planning requires patience, as it won't provide instant gratification but it comes with significant advantages.
Instead of paying EMIs, you invest the same amount in a SIP each month. Over the years, your SIP investments would provide good returns, thanks to compounding. By the end, you could not just have your dream car but also additional funds.
Ayush said, But what if I want my car right away?
Valid point! If you need the car urgently, a loan might be the right choice. However, with SIP Planning you'll have your dream car without the stress of EMI due to fear of job instability.
|SIP for Car
|Rate of Return
|Number Of Year
|Monthly SIP Amount
|Loan for Car
|Rate of Interest
|Monthly EMI Amount
*we have considered the past returns (average) of best performing mutual funds as the rate of returns. Mutual Fund returns may or may not be sustained in future.
After seeing all the advantages of SIP, Ayush decided to start a SIP. He realized that his dream car was worth the wait, and the financial wisdom gained from the SIP journey was equally valuable.
Wise & Regular Investment through SIP can Save You a lot of Money!
Disclaimer : Investing in mutual funds carries market risks; please carefully review all scheme-related documents .