A Redditor narrated an odd phenomenon prevalent these days about these with ₹1.4 lakh to ₹2 lakh month-to-month revenue making downpayment to purchase Mercedes automotive price ₹60 lakh to ₹80 lakh. This buy caught his consideration which instructed that people made down fee of ₹7 lakh to ₹9 lakh and financed the remainder by way of loans.
The caption to the put up states, “Persons are shopping for ₹70–80L Mercedes automobiles with ₹2L salaries. Have they fully misplaced it?”
Describing how people are making such massive buy with minimal salaries, he mentioned, “Went to a Mercedes showroom yesterday. The gross sales execs have been telling me tales about how folks with salaries of ₹1.4L– ₹2L are shopping for automobiles price ₹60–80L – with down funds of ₹7–9L and the remainder on loans – which the gross sales execs completely battle in getting permitted.”
Narrating this peculiar case, he alleged that the gross sales executives face difficulties in getting their loans permitted. Furthermore, the pleasure to personal a luxurious automotive overrides their rational considering and “they even borrow extra money from others to satisfy these EMIs.”
The Redditor was stunned to seek out out that these people have been “Signing up for a 7 yr slavery contract simply to look wealthy.” He questioned, “I used to be actually surprised. How do folks persuade themselves this is smart?” He claimed that this is not ambition anymore it’s “monetary self-sabotage disguised as “YOLO!!!””
In keeping with the Redditor, even when a person possesses “generational wealth,” it’s impractical to spend ₹8 lakh as downpayment for a ₹80 lakh automotive.
Social media response
A person wrote, “Our maid’s son received a job as a salesman at 20k wage in an area store and in 1st month he paid 15k down fee for royal Enfield meteor 350 and so they did not actually have a fridge or a cooler on this residence however as a substitute of getting essential- what did he purchase? A f’ng 2.2 lakh bike.”
One other person remarked, “Looks as if a gross sales method to make you snug into shopping for one.”
A 3rd person said, “Bro these luxurious manufacturers are the most effective at manipulating you into making silly selections. I as soon as noticed a gross sales man sitting with a Gao wala in merc benz showroom telling him how he will likely be remembered for many years to return for proudly owning the primary mercedes of their rural city (Gao).”
A fourth remark learn, “I imply you don’t know peoples funds. They may have already got their very own home and haven’t any loans. So paying about 40-50k a month in emi’s might be snug for them.”
