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MIA
Affordability Analyst
Can I afford a ₹15L car?
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Affordability Check
Let me analyse that for you, Arjun. Based on your linked accounts, here's your monthly snapshot:
Monthly Cash Flow
Monthly Income
₹2,00,000
Fixed Expenses
₹85,000
Existing EMIs
₹32,000
SIPs & Investments
₹45,000
Available Surplus
₹38,000
Car Loan EMI Estimate
Car Price
₹15,00,000
Down Payment (20%)
₹3,00,000
Loan Amount
₹12,00,000
Rate · Tenure
9.5% · 5 yrs
Monthly EMI
₹25,150
Impact on Your Goals
Emergency fund drops below 3-month threshold
Retirement goal delayed by ~8 months
Child education SIP of ₹15K needs to pause
Proceed with Caution
You can technically afford the EMI (₹25,150 vs ₹38,000 surplus), but it will strain your goals significantly. Consider a ₹10L car or saving for 6 more months to increase the down payment.
AI
MIA is an AI-powered analytical tool under SEBI RIA (INA000014252) supervision. Not a substitute for professional financial advice.