-
-
-
Dream Car Calculator
- This calculator estimates the amount needed to purchase a vehicle in the future.
-
Select Goal
-
- Retirement Planning
- retirement-planning-calculator
-
- Buy a House
- plan-a-dream-house
-
- Plan a Trip
- plan-a-trip
-
- Buy a Vehicle
- plan-a-dream-vehicle
-
- + Create your own
- custom-goal-calculator
I want to buy this car by
2025
2025
2050
Budget for the car
1500000
10000
100000000
Expected Rate of Return
12
2
13
I also need lumpsum money for downpayment
-
- No
- no
-
- Yes
- yes
Amount for the downpayment
100000
10000
100000000
- Helps investors evaluate whether to save in advance or rely on financing. It promotes better cash-flow planning and informed purchase decisions.
Disclaimer
- This calculator is provided for informational purposes only.
- The results are based on user inputs and should not be considered as investment advice. Users should seek the advice of a qualified financial professional before making any investment decisions.
- The creators of the calculator and its affiliates shall not be held responsible for any financial losses resulting from the use of the calculator.
- Past performance may or may not be sustained in the future and should not be used as a basis for comparison with other investments. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
People are also investing in
Other Calculators
Introduction
- So you have been thinking of buying that classic SUV or luxury sedan for a while but haven’t had the time to calculate your finances accordingly. And with inflation pushing up prices yearly, it can get hard to keep track. This is where a dream car calculator can help you take charge of your financial decisions. Once you get your timelines straight, the next part is just making sure you stick to your saving schedule.
What Is a Dream Car Calculator?
- The Motilal Oswal Dream Car Planner is a free online tool that helps you visualise in advance how much money you need for your dream car. It provides an estimate of the savings and down payment you will need, as well as the EMI burden you will have.
- EMIs are monthly instalments you pay on the principal amount that you borrow to finance your car. The car planning calculator accounts for the loan, interest rate, and the period of repayment you have agreed to. However, between rising the rising cost of living and other practical expenses, this milestone can get delayed each year.
- The online dream car calculator asks for basic details like the current price of the car, number of years left for purchase, and other important numbers to provide an estimate of the contribution you need over time. This makes it much easier to plan the purchase of your dream car.
How Does Dream Car Calculator Help You?
- A modern, stylish car is often one of the topmost aspirational dreams of anyone climbing up the ladder in their career. However, with most cars, especially those ‘dream cars’ costing upwards of multiple lakhs, this can be a difficult goal for many to achieve. Borrowing a sum to pay for the car can often bring this dream closer, but it comes with its own set of conditions.
- Banks and financial institutions charge interest on the principal amount you borrow, which can significantly affect the cost of ownership across several years. This is where you can use Motilal Oswal’s dream car calculator online to make smarter decisions with your money.
How Does Dream Car Calculator Work?
- A typical investment calculator for dream car works by first asking you to input basic information about your intended purchase. These would be your goal (car), current pricing, number of years before purchase, current savings, and expected monthly investment.
- The calculator then accounts for inflation rates and expected returns on your investment to provide a figure closer to what the car might cost when you finally buy it. Alongside this information, it also provides numbers for the EMI you might be required to pay, with the total interest and amount payable by the end of the EMI tenure. Not only does it make budgeting decisions easier, but it helps analyse and break down interest rates. Finally, it also compares loan offers to find one that suits you best.
What Are the Advantages of Dream Car Calculator?
Using a car planning calculator provides more benefits than simply displaying numbers:
- Transparency: It closely outlines what your financial requirements and commitments might look like in the future while working towards the dream car. This helps avoid unrealistic expectations and impulsive spends.
- Dynamic Calculations: The car calculator formula adjusts numbers for inflation and other variables to provide a realistic estimate of the car’s future price. Besides, it also outlines how growth in your investments can look like.
- Variable Inputs: Motilal Oswal’s investment calculator for dream car allows experimenting with different cars, price ranges, and expected ROI. You can change desired variables and get an immediate reassessment of the financial burden.
- Free to Use: The dream car calculator online is a tool that is free to use for all, which makes it universally accessible. You can easily track your progress towards purchasing your dream car or tune-up your plan without professional tools or advice.
How to Use Motilal Oswal Dream Car Calculator?
- To use Motilal Oswal’s car planning calculator, go to the tool on their website and select ‘Car’ from the list of your financial goals. Follow this up with the current price of your car, the number of years after which you have planned the purchase, and what amount you have set aside for the same.
- Then, add an expected rate of inflation alongside how much risk you’re willing to take on your investments or the type of fund in which you have invested. Once the tool has these numbers, it can estimate how much the car might cost buy the time you buy it, and how much your regular investments must be.
Key Considerations When Using a Dream Car Calculator
The most crucial factor to remember while using the car calculator formula on the tool is that it predicts close estimates, not actual figures. Since it works based on user-provided data, its accuracy heavily depends on the initial assumptions it is provided with. Market-linked returns are not guaranteed, and inflation does not follow predictable patterns.
The dream car planner also does not account for market volatility or significant life events. This means the tool is a general guide instead of a channel for case-specific advice.
For the future you are building,
and the legacy you envisioned
Learning Resource Vault
Learn with Motilal Oswal
-
Article
- 10 min read
- August 30, 2024
-
Large-cap Stocks, Small-cap Stocks, Mid-cap Stocks — What is the difference?
-
There are thousands of companies in the Indian stock market. There are about 2,113 companies listed on the NSE and 5,311 companies listed on the BSE.
-
Video
- 3 min watch
- April 4, 2022
-
As we all agree, it is not possible to time the market, and therefore a Systematic Investment Plan (or SIP) is a preferred mode of investment to invest in mutual funds.
-
Podcast
- 1 min listen
- October 4, 2021
-
Explore thought-provoking conversations with Pratik Oswal as he shares his views on building wealth, market behavior, and more.
Frequently Asked Questions
Why should I use a Dream Car Calculator?
You should use a dream car planner to help plan investments to accumulate the amount of money you will need to buy your dream car. You will need to provide basic details like current value of the car, assumed inflation rate, savings, and expected ROIs to get a close estimate of your financial burden by the time you are ready to make the purchase.
Can I adjust the inflation rate in the Dream Car Calculator?
Yes, you can adjust the inflation rate in Motilal Oswal’s car planning calculator. This is a field filled by the user, and the results it displays are based on assumptions that the user provides. Other input fields are also dynamic and can be adjusted by the user as needed.
How accurate is the Dream Car Calculator?
The dream car calculator online only provides close estimates based on user inputs, and not final, guaranteed figures. For the best, most closely accurate results, you should set realistic expectations around your finances, investments and other variables like the inflation rate.
Is the Dream Car Calculator free to use?
Yes, Motilal Oswal’s dream car planner is available online and free to use for all as often as required.
How much should I save monthly for my Dream Car?
The amount you need to save monthly to purchase your dream car over a preset number of years heavily depends on your income (and its future growth), lifestyle, daily expenses, and other crucial variables. To get a close estimate, provide the tool with conservative and realistic numbers to begin with.
Should you choose a Systematic Investment Plan (SIP) or a lump sum investment for saving for a car?
A systematic investment plan (SIP) is usually the commonly chosen option if your purchase decision is still 3-5 years away. It helps build financial discipline and is often easier to fit in a budget. However, having a lump sum already set aside can be more handy if your purchase is planned over the shorter term. An ideal method would be to use a hybrid approach combining both.