Every person in the world likes to have a car or two of his/her own and for that matter I too am not an exception. So far I am concerned I am never in favour of going for loan to buy a car. Having said that I don’t mean that I don’t need loan(s) to buy a car. I may need but as far as possible I shall try to avoid it. If necessary, I’ll withraw my investments and buy a car.
The reason is very simple- My investments guarantee very little returns but a loan guarantees Huge losses in terms of interests. When you see an EMI it looks too easy and too little to pay but once you calculate you will see that the total money you have to repay becomes so huge that you cannot imagine at the time of buying the car on loan. Personally I feel it’s better to buy a car with one time payment, be it by withdrawing your savings/investmets or borrowing from your near and dear ones. The amount you were supposed to pay in EMI may be deposited as systematic investment plan (SIP) or recurring bank deposits for the period you were to pay as an EMI to the car company/dealer, in the long run you will see that your money you are getting on maturity becomes quite handy to be utilized for a reasonably good purpose or reinvest by making you financially more sound. If you are not at all in a position to buy your dream car immediately, wait for the time, save money until it becomes good enough to fullfil your desire.
I don’t like to be driven by my desire and passion because that is not reality and to live in unreality is as good as living a fake, meaningless and miserable life. Peace, prosperity and happiness don’t come in life by merely achieving worldly desire and by getting everything materialistically.
To be honest, the most insecured and miserable lives are led by the people who are the reachests in the world because they want to maintain their status and perhaps to reach a higher and higher level with every passing day but their thoughts are unrealistic because it never comes everything in the way they want. If that was truth, where is Gupta Dynasty today? Where is Maurya Dynasty today? Where is Mughal Dynasty today? Similarly we cannot emphasise that TATAs, BIRLAs, MITTALs, AMBANIS, etc are going to be on top for generations and generations to come by.
Life is very tough for these people and very simple for us because our requirements are limited and they have no limitations. So, for me the best way of living a life is to live by cutting our coats according to our cloths. No loan, no tension. Yes loan, no pension!!! That’s a simple way of remaining happy. Not satisfied with what you have today? Compare it with what you had when you were not earning. I bet, you are bound to be satisfied, happy and peaceful. Yes, it is easier said than done but practice needs and it makes a man perfect. You may not like what I have written but you have every reason to be so because opinion differs from person to person but for God sake forgive me if I happened to have harmed somebody’s interest inadvertently.
Tshering Dukpa
Gangtok
Sikkim-737101*