Buying ₹80 lakh Mercedes with ₹2 lakh monthly salary? Stunned Redditor calls it 'financial self-sabotage'

A Redditor narrated a strange phenomenon prevalent nowadays about those with ₹1.4 lakh to ₹2 lakh monthly income making downpayment to buy Mercedes car worth ₹60 lakh to ₹80 lakh. This purchase caught his attention which suggested that individuals made down payment of ₹7 lakh to ₹9 lakh and financed the rest through loans.

The caption to the post states, “People are buying ₹70–80L Mercedes cars with ₹2L salaries. Have they completely lost it?”

Describing how individuals are making such big purchase with minimal salaries, he said, “Went to a Mercedes showroom yesterday. The sales execs were telling me stories about how people with salaries of ₹1.4L– ₹2L are buying cars worth ₹60–80L - with down payments of ₹7–9L and the rest on loans - which the sales execs absolutely struggle in getting approved.”

Narrating this peculiar case, he alleged that the sales executives face difficulties in getting their loans approved. Moreover, the pride to own a luxury car overrides their rational thinking and “they even borrow more money from others to fulfill these EMIs.”

The Redditor was surprised to find out that these individuals were “Signing up for a 7 year slavery contract just to look rich.” He questioned, “I was honestly stunned. How do people convince themselves this makes sense?” He claimed that this isn't ambition anymore it is “financial self-sabotage disguised as “YOLO!!!””

According to the Redditor, even if an individual possesses “generational wealth,” it is impractical to spend ₹8 lakh as downpayment for a ₹80 lakh car.

Social media reaction

A user wrote, “Our maid's son got a job as a salesman at 20k salary in a local shop and in 1st month he paid 15k down payment for royal Enfield meteor 350 and they didn't even have a fridge or a cooler in this home but instead of getting essential- what did he buy? A f'ng 2.2 lakh bike.”

Another user remarked, “Seems like a sales technique to make you comfortable into buying one.”

A third user stated, “Bro these luxury brands are the best at manipulating you into making stupid decisions. I once saw a sales guy sitting with a Gao wala in merc benz showroom telling him how he will be remembered for decades to come for owning the first mercedes in their rural town (Gao).”

A fourth comment read, “I mean you don’t know peoples finances. They could already have their own house and have no loans. So paying about 40-50k a month in emi’s is probably comfortable for them.”