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Old 23rd April 2013, 16:50   #16
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by himanshugoswami View Post
OT, but couldnt resist it.

This almost sounds like how most people get married!
ROTFL---though OT. One mistake is enough for most people, I guess!

Coming back to the topic, I think you must ask your friend to list down specifically what he did not like about the Figo, based on which we can give appropriate suggestions.

Also, please let him know that no car is perfect, and one needs to compromise on few factors if other factors are very good to ones liking.
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Old 23rd April 2013, 16:51   #17
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by ani_meher View Post
I love your friend, and people similar to him! This is how others get nice deals

If he can swallow the 1 lac depreciation, it would be best for both him and the possible buyer to sell the car and settle for something he likes, and would like to keep for years. If 'buying old' is not a taboo, I am sure he can find someone else like him who is bored of his Brio/Swift whatever car your friend 'currently' likes.

Generally, operating like this is financial disaster. Buy a new car ONLY IF you intend to keep it for 5-7 years, else buy used. I know some people who change their vehicles every 3 years, which doesn't make any sense, as a lot of depreciation is already gone. But this formula is for those who live by heads, not those who live by their (or others!) heart.

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Originally Posted by ghodlur View Post
@Shiv

Can you friend guarentee that this mood swing is a one off thing and that its not going to be repeated. If he geniunely feels that the car is not right for him, then I would suggest he swallow the bitter pill and sell it and be happy with the price he gets. Hopefully next time he does not get fool hardy and jumps to any conclusions when buying a car.

All I hope is after selling the car he doesnt need your shoulder to cry thinking that he sold the car in haste. The sooner he gets the T-BHP membership better for him.

I agree with you, but he has bigger problems. He doesn't have the required vitamin M to take the financial depreciation and still stay tall. He wont be able to buy another car for atleast an year. I am just using this thread to find enough reasons for him to get convinced.

AFA Team Bhp membership is concerned, i think he needs one now

Thanks Gentlemen.
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Old 23rd April 2013, 17:03   #18
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

It kinda seems that the figo owner would want to buy a new car to replace the Figo, sadly that may impy an additional cost of min 2L or more as he will just about write off the current Loan with what he has already paid plus will have a depreciation loss and will have to apply for a new one upfront. Most likely he will have to pay about 1L from pocket today and take a new loan which would be 1.5-2L higher in value.

The good news is the market being bad right now the new cars are at significant discounts in general, the bad bit is that the same factor will hit his current figo resale.

So if Finance is a factor the suggestion has to be to hold on to the vehicle and if required spend about 20K-30K to get a nice set of interior Leather Interiors and better alloys / wider tyres and if required a remap as well if the bored bit goes beyond looks. If he does this and manages to hold on to the vehicle for another 2-3 years also it will still be a lesser loss.
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Old 23rd April 2013, 17:38   #19
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

I was just thinking if this is a distant possibility that he sells his Figo and whatever money he got, use that to buy a 2nd hand car of his choice.

Atleast he will have still some respite from the depreciation. Any ideas ?
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Old 23rd April 2013, 17:48   #20
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by Shiv_1984 View Post
I was just thinking if this is a distant possibility that he sells his Figo and whatever money he got, use that to buy a 2nd hand car of his choice.

Atleast he will have still some respite from the depreciation. Any ideas ?
That is the very problem! If he sells his Figo now, the current value of the car may not even cover the outstanding loan amount + preclosure penalty value. He may in fact have to put some money from his own pocket to clear the loan outstanding after selling the car (if it was taken on 100% finance like you said).

Anyway, as regards to your query, if he is hell bent on getting rid of the car - you have a plethora of enthusiast-car options in the 4-6L budget, including but not limited to the Mitsubishi Cedia sports, Honda Civic / City VTECs, Fiesta 1.6S, etc . He'll find this thread useful :
http://www.team-bhp.com/forum/buying...pees-less.html (ARTICLE: The Best (used) Enthusiast cars for 6 lakh rupees! Or less)

Last edited by KarthikK : 23rd April 2013 at 17:57.
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Old 23rd April 2013, 17:58   #21
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

I am failing to understand.

What is so ugly about Figo that he cannot stand it.

I would recommend you talk some financial and common sense to him and make him understand that its would be a terrible idea to sell this car so soon, especially if he is under cash crunch.
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Old 23rd April 2013, 18:05   #22
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

Now that's a sad situation to be in. I have seen such things happening with my friends and usually what they do is increase the product likeability factor by adding alloys, music system and other bling stuff BUT let me tell you, adding stuff to make your car interesting doesn't last long. It can just temporarily put ones interest in the car.

I would further add that buying another vehicle at such small amount which he gets after resale is not wise. If he buys a used car, it will be way old and would be more of a gamble.

Seeing that the vitamin M being limited if i were at his place i would cherish the ride for the meanwhile and look for a suitable buyer who may pay me well, may be someone in relation or friends. Figo is not that bad a vehicle and it surely has some good points like great suspension and fine handling.

"Sometimes we just don't value things until we loose them''.
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Old 23rd April 2013, 18:30   #23
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by Mister_M View Post
When your friend is clear enough to say that he is "bored" of the car in just 9 months, I don't think he really would feel sad about the Financial losses (Read: Depreciation, Loan Fore-closure charges, etc...)
+1.

- What he means by being bored?
- Has he driven it enough to come to the conclusion?
- I do understand that one TD can give a lot of info. But in this case has he taken it across places and then comes to this conclusion? (City, Highway etc)
- If he has driven it only in the city, the cause for boredom can be different as well. (Music quality, Noise isolation, interiors etc. And these can be solved without selling the car)

- If he has that clarity to express that he is bored, and you also say, enough financial strain was taken, then let him put these two together and weigh one versus the other as well.
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Old 23rd April 2013, 18:36   #24
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

Im not an expert here, but cant bank workup some sort of transfer / topup loan on the current loan?
This way, he can transfer the outstanding + difference ( depreciation on current car and cost difference of new) to a new EMI package. I understand he will still lose some money, but the blow will be softened by the EMI (which will be a bit more than current). I remember HDFC guys pestering me for a top up loan a while back (My Swift Loan is with them).

I do not know the amount of financial implication of going this route. Research and decide
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Old 23rd April 2013, 18:44   #25
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by Shiv_1984 View Post
Hello folks,

There is something I wanted to share with you all. The poor guy we will discuss about is one of my oldest friends. There are 2 actors in this story:

1. Ford Figo - Petrol

Need help from BHPians on what would be his best take.

Thanks in advance.

Shiv


Please have you friend have a look at this link, just to give him ideas on how to make his Figo more interesting to drive.
http://www.team-bhp.com/forum/vbpicg...do=view&g=4846

I am guessing your friend is not much of a driving enthusiast(no offence).

The Figo is up there when it comes to enjoying the drive and down under when it comes to power. Also mention to your friend, this is a PETROL! Modiying possibilities are so many and this is a basic no non-sense engine. My car reminds me of the old Zen, its a pocket rocket if you want it to be!
Yes , there are many negatives which of course depends on your friend. He has not mentioned what it is that he really never likes in the car right from the begining. If he does a lot of long distance, wrong car. If he wants cheap running ,(mileage,fuel costs) wrong car.Comfort is not great, neither bad. For me, the power was the only missing piece in the puzzle and I improved it to some extent with a FFE and CAI.
Mention this to your friend as well, the AC on the Figo is powerful and saps a lot of power. Tell him if he wants that turbo effect on his car, to keep his left index finger pointed at the AC button , and when he is in first or third , just turn the AC off for that extra power, provided the AC has not cut off already. Works brilliantly for me.

At the end, its his decision, if he really does not like the car and has set his mind to sell it. He has to be happy. Thats the bottom line.

Regards

Last edited by tharian : 23rd April 2013 at 19:06. Reason: typo
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Old 23rd April 2013, 18:50   #26
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

Shiv, my 2 cents

-Your friend has to search for a suitable buyer - preferrably first time car buyer through a known source/referrence.
- The buyer can continue paying the HDFC loan to save penalty.
-If the valuation amount (present resale value) is less than the HDFC loan (mostly), then your friend can pay the amount to the buyer now if his financial position is OK or on agreed timelines.
-Your friend can handover an authorisation letter, TO forms duly signed to the buyer now for bank purposes.

The cache here is to identify a car buyer who is interested in "Figo Petrol"
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Old 23rd April 2013, 19:01   #27
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by ani_meher View Post
Generally, operating like this is financial disaster. Buy a new car ONLY IF you intend to keep it for 5-7 years, else buy used. I know some people who change their vehicles every 3 years, which doesn't make any sense, as a lot of depreciation is already gone. But this formula is for those who live by heads, not those who live by their (or others!) heart.
Well said.

I can't believe humanity has come to a point where an expensive (on your pocket and on planet earth) convenience such as one that takes you, your family, a few bags of luggage, and several tons of steel, hundreds of thousands of kilometers, all the while letting you sit in a cushioned chair with comfortable AC without ever having to expend any significant energy, can be set aside as 'boring' and un-interesting. Millions of people would kill to be in Amit's place - to have a loving family, a home, and a nice comfortable car, but they struggle for daily bread.

That apart, I'd like to ask how much Amit has driven the car until now. If he's not spent any significant time with the car it is highly possible he doesn't feel any connection to the vehicle and thus feels 'disconnected' and unsatisfied with his purchase. A few happy moments and drives with family and/or friends will change this. If he bought the car only because everyone else around him was buying one and/or his family encouraged him to get one then he'll keep questioning his logic for buying one, that too on loan, and will try to think of ways to get rid of the 'mental burden' the car brings with it.

Getting additional ICE, alloys or other fancy stuff will temporarily provide the dopamine rise but will soon wear off. He'll go back to being bored and have lost a few tens of thousands of rupees in the process.

A re-map, like someone suggested, might help. But if it ends up skewing the FE, then he might soon get interested in a 'diesel'.

By the way, do you know the best thing about being bored with a car? It is that you mostly wouldn't care if it gets slightly dented or scratched or dinged.

Highly recommend he keep the car, take a few longish road trips, wash his own car (for the connection) and use it until it no longer serves him the purpose it was purchased for.
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Old 23rd April 2013, 19:26   #28
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by mayankjha1806 View Post
I am failing to understand.

What is so ugly about Figo that he cannot stand it.

I would recommend you talk some financial and common sense to him and make him understand that its would be a terrible idea to sell this car so soon, especially if he is under cash crunch.
Additionally
To sell a new car after 9 months just doesn't make sense. What guarantees him to get that satisfaction from a Brio or any other car he might get (new or old)

I would recommend telling him to atleast wear out the new car charm from the Figo and then think about selling it. That should add about 2 years to the ownership. And you never know he might start liking the car.

Do you think the fact that he was a rider all this time affects this decision? Traffic, Affordability etc..
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Old 23rd April 2013, 20:23   #29
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

There are couple of things to be ascertained first.
1. Pattern of your friend's car usage.
2. What id the present EMI
3. How much he can spent now upfront.
Some quick options are;
1. Exchange the Figo at an approved used car joint like True Value, Assured, Advantage, Carnation et al.
2. Even he can go down a segment to even an Alto and close the loan. HDFC doesn;t charge fore closure penalty. Later, wjen his financial position improves he can upgrade to a car of his own choice,
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Old 23rd April 2013, 21:37   #30
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Default Re: Bored of new Ford Figo - Keep it or Sell It?

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Originally Posted by Shiv_1984 View Post
I agree with you, but he has bigger problems. He doesn't have the required vitamin M to take the financial depreciation and still stay tall. He wont be able to buy another car for atleast an year. I am just using this thread to find enough reasons for him to get convinced.

AFA Team Bhp membership is concerned, i think he needs one now

Thanks Gentlemen.
As pointed out earlier, your friend has got into an arranged marriage, and an arranged marriage is just that to ensure that even the loser gets one. Yes, just like arranged marriage, it is a bit difficult in the beginning, and now is the time to bring in the love. Ask your friend to go on a long ride (300+kms) each way and get the experience. I am almost sure your friend won't have driven more than 5K in these 9 months. The mileage, the drive feel, the time in it with his family, etc, will count a lot and he would have long forgotten his disappointment with the car.

If your friend can't buy a car for another year, ask him to continue the EMI (assuming that he can afford the same). In the mean time let him buy an upgrade of his current bike. I believe that the upgraded bike option will help him to be happy which is something he is missing and that he badly requires following his disappointment with Figo and the inability to buy a car for one more year. After that he can take the call whether he still wants to dispose his current Figo. Eleven years ago I was very disappointed with the bike purchased for me by my father, Bajaj Boxer. I disliked for near a year, and then started enjoying it. I just loved it a lot and made an unfortunate mistake of disposing it off in 2009 and now I am looking for a used one in the market

BTW, totally off topic, I am currently toying with the idea of a diesel hatchback, and it is Figo EXi which is meeting my budget.
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