Every nice thing in the world is expensive and even the basic commodities have a cost. The same is true when you're planning to buy an automobile. The only issue is that because the price of this product is greater than the value of everyday items and you may want to finance the vehicle or take out an installment loan to purchase the car you want.
If you can pay a lower EMI and decide to pay over a longer period your burden is less, and it is not necessary to spend more than you can afford to pay the monthly payments. You can also search online to use the best car loan calculator.
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However, there's an issue with loans and long-term financing when you look at the true value of the car you bought and the amount you paid for the car over a few years, you'll discover that you paid significantly over the MRP of the vehicle!
You may have been able to afford the car however, in the end, you paid more than what you paid for the car!*If your monthly installments are higher and the payback time is less, you'll have to pay more than what you paid for the car, but the difference may not be as obvious as it was in the previous instance of long-term financing.
There are a few investment companies that provide zero-interest financing on the vehicle you plan to purchase if you pay EMIs that they require and within the stipulated time frame. This is usually a great option because often it means that the EMI is not a burden on your wallet and the value of the vehicle remains until you've paid for the loan.