Want to buy a car worth Rs 10 lakh without a loan? Know this trick to make your dream come true

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Buying a car is the dream of every middle class person. Many times either you do not have that much money or you have to take a loan. Taking a loan is not that easy. Suppose even if you take a loan, the hassle of repaying it also bothers you. In such a situation, there is a trick by which you can buy a car worth Rs 10 lakh without a loan. Let us explain the whole math to you.

Food, clothing and shelter are the most important needs of people in life. In today's modern era, cars and internet are becoming a necessity for people. New vehicles are launched almost every day. They have great features. In such a situation, if you do not want to be burdened with a loan, then you can also do SIP. Let us understand its collection in detail. After all, how much SIP will have to be paid every day.

For a car worth 10 lakhs, you will have to deposit 10 thousand rupees every month as SIP. If we do some rough calculations, then in just 6 years you will have deposited more than 10 lakh rupees. This amount can increase even more. However, there is no fixed return on investing through SIP. Still, if we invest keeping in mind the past trend, then if we invest 10 thousand rupees every month in SIP, then this net investment amount will be 7,20,000.

Now let's talk about its total return. If we consider 12% which is considered to be the lowest return, then the total amount will be Rs. 3,37,570 as interest. If the same calculation is applied for 6 years, then this amount will become Rs. 10,57,570. If you start a SIP of Rs. 12,500, then Rs. 10,31,080 will be deposited in just 5 years. In this way, you can get your favorite car without any cost. This can prove to be the best deal for you.