Buying a car is still a big dream for people who are living a middle-level lifestyle. Many people complete this dream by taking a loan, but later they have to face trouble in paying instalments.

If you buy a car through a mutual fund, then it can be done without a loan. For this, you will have to invest in the mutual fund for the first three years, then the amount of money will be available to buy up to 5 lakhs of cars without any loans.

If you want to buy a car of up to Rs 5 lakh, you have to invest in a mutual fund by creating a 3-year investment strategy.

Simultaneously, two good schemes should be started and investing Rs 10 thousand in them. It is good to invest in MF’s more than one scheme. If a return of 15% returns on this return, then in three years this investment will be about Rs. 5 lakhs. In total, your investment will be 3.6 lakh rupees, while about Rs 1.25 lakh will be received as a return.

How to plan this?

  • Start monthly investment of Rs 10,000/-.
  • Run this investment for 3 years.
  • 15% returns in Mutual Fund scheme.
  • 4.79 lakhs will be ready for the fund.

If you plan to buy a car by investing in a mutual fund, you will only be able to buy 3.6 lakh rupees and you can buy a car worth Rs. 5 lakhs. But if you buy today with a car loan of 5 lakh rupees, then it will be very expensive.

To buy a car of Rs. 5 lakh, you will make a down payment of around Rs. 1 lakh and take a loan of 4 lakh. SBI’s auto loan now has an interest rate of 9.25%. On this, you will have to pay approximately 12,766 rupees for three years. In three years, you will pay 4.59 lakh rupees in interest. Whereas if you put one lakh rupees in the form of down payment, if you put it in FD then it will be 1.26 lakh in three years.

Thus, after paying a loss of interest of Rs 26000/- and about Rs 60,000/- in lieu of the loan, this car will have to pay around Rs. 6 lakhs. At the same time, after taking the first investment, after 3 years, it will come in only 3.6 lakh rupees. Thus, you can save more than two lakh rupees if you planned properly.

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