Rizwan Khan, 22, a resident of Subhash Nagar in west Delhi, was a student of Bachelor's in Arts Second Year at the Jamia Millia Islamia.
He was found dead around 10.30 am by his family inside the car parked at Sarojini Nagar, police said.
Rizwan had left his home with Rs 2 lakh on Monday afternoon for purchasing a motorcycle but did not return till late night. His mobile phone was also found switched off, Deputy Commissioner of Police Romil Baaniya told IANS.
His father Sharif Khan said a cousin sister of Rizwan's friend and her father told them on phone that Rizwan have handed over his mobile phone and a bag with Rs 2 lakh at their residence on Monday afternoon and drove off in his car.
"Prima facie, it appears to be a case of suicide. A team of forensic experts have collected samples," the officer said.
He said no suicide note was found from the spot.