(MENAFN- Live Mint) 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?”

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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.”

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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.

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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.”

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