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5th February 2007, 12:38
| #1 (permalink) |
| Senior - BHPian  |  Old Indica LEi / New Indica DLS / New Alto LXi Right - I will be needing a second car in a few months. Have put down my analysis of the situation in this pretty lengthy post. Seeking comments, corrections, inputs, advise from T-BHP enabling me to decide wisely  Expectations/Requirements from the second car (small hatch) . - Very low overall cost of ownership - Very low on fuel bills - Will be primarily driver driven and used by kid and parents - Good AC - Power steering required - in case wifey wants to drive at times - Power windows NOT required - Will probably keep for 5 years - at least planning on that basis - Initially it will probably run 500kms/month. But I expect it to increase to an average of about 700kms over a 5 year period. - 100% city use The options Keep Indica 2000 LEi, which I currently have. It's a 2001 model run 40K kms. Cost of car - 0 Mileage - 9kmpl Petrol for 5 years - 700*49*60/9 = 2,28,667. (49 = price of petrol as of date) Maintenance - Pessimistically 20,000 per year ? = 1,00,000 Resale value after 5 years - probably 0. Total over 5 years = 3,18,667 Concerns - It was sitting relatively idle with a used car dealer for about 1 year. Is being used recently by a relative and returning 5/6 kmpl with almost no A/C usage!! Guess it badly needs servicing. Refused to start yesterday. Heard some fuse blew. Has been replaced and running fine now. Suspension needs work. Needs a full paint job. New Indica V2 DLS Cost of car - 3.5*2250*60 = 4,72,500 Mileage - 14kmpl ? Diesel for 5 years - 700*34*60/14 = 1,02,000 Maintenance - 7000 per year ? = 35,000 Resale value after 5 years - 1,00,000. Total over 5 years = 5,09,500 Cost of car calculation : 4L OTR - 50,000 (old Indica exchange) = 3.5 L. Loan EMI per month per lakh assumed 2250. Total cost = 3.5*2250*60. Haven't considered inflation of fuel prices as it would be approx similar for petrol and diesel. New Alto LXi Cost of car - 2.7*2250*60 = 3,64,500 Mileage - 14kmpl ? Petrol for 5 years - 700*49*60/14 = 1,50,000 Maintenance - 3000 per year ? = 15,000 Resale value after 5 years - 80,000. Total over 5 years = 4,49,500 Cost of car calculation: 3.2L OTR - 50,000 (old Indica exchange) = 2.7 L. Loan EMI per month per lakh assumed 2250. Total cost = 2.7*2250*60. # M800 not being considered as I'd like the AC to be at least as capable as the Alto. # Santro not considered, since petrol car ~ 4L OTR not making sense financially. # Xeta not being considered since petrol car ~3.5L & <14kmpl not making sense financially. # WagonR Duo not considered; LPG not available at all pumps. 4.2 OTR and overall cost is slightly more than the V2. # Selling the Indica and getting a used zen/alto/Indica diesel is something I have tried. It's very difficult to sell it independently in the market - no buyers. Hence seems I'll HAVE to go for a new car, 'coz then I'll be able to exchange the Indica. My decision will primarily be based on the money factor. I'd like to go for the cheapest option over 5 years. Hence would like to understand the monetary implications as accurately as possible. Queries - Is 1L over 5 years too high for a 6 year old Indica petrol maintenance costs ? - Can one expect a mileage of 14kmpl from a new Indica diesel ? - Can one expect a mileage of 14kmpl from a new Alto ? - Is 35000 too low a maintenance figure for an Indica diesel over 5 years ? - Is 15000 too low a maintenance figure for an Indica diesel over 5 years ? - Is the per Lakh emi around 2250 for 5 years ? Or is it more ? - Any other point that I have missed out which would have a monetary impact ? To conclude, considering my assumptions being more or less correct - Alto - I'll be spending 1.3 L extra for the Lxi; losing out on space & comfort for parents, but possibly the most hassle free and reliable option Indica DLS - I'll be spending 1.9 L extra; may not end up being used as much as a diesel should be; might end up spending more on maintenance than estimated in the long run; may also get a lemon if I'm unlucky ! Or should I stick to the Petrol Indica, give it a good servicing, a fresh coat of paint, nice wheels ?
__________________ PIGZILNKILJBSCOMB Last edited by shuvc : 5th February 2007 at 12:54. |
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5th February 2007, 12:45
| #2 (permalink) |
| BHPian  Join Date: Oct 2004 Location: !!!!
Posts: 886
| with the also, also factor in a Rs. 20K exchange bonus that Maruti is offering. Y dont you also consider the Wagon R Duo if LPG infrastructure is in place in ur city. OF your current choices, I would say teh Also is the best bet for you.
__________________ I asked Mom if I was a gifted child...she said they certainly wouldn't have paid for me.- Calvin |
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5th February 2007, 12:58
| #3 (permalink) | |
| Senior - BHPian | Quote:
Edited and added reason for not considering WagonR in the original post.
__________________ PIGZILNKILJBSCOMB | |
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5th February 2007, 13:07
| #4 (permalink) | |
| Distinguished - BHPian   | Quote:
Servicing: 5-6k (considering your description of the car's state) Suspension: 20k Pain Job: 20-30k (depending on quality & workshop used) This would jack up the car's price by about another 60k-odd.
__________________ There is a very fine line between "Hobby" and "Mental Illness". | |
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5th February 2007, 13:13
| #5 (permalink) | |
| BHPian Join Date: Oct 2004 Location: !!!!
Posts: 886
| Quote:
__________________ I asked Mom if I was a gifted child...she said they certainly wouldn't have paid for me.- Calvin | |
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5th February 2007, 13:25
| #6 (permalink) | |
| Senior - BHPian | Quote:
__________________ PIGZILNKILJBSCOMB | |
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5th February 2007, 16:02
| #7 (permalink) |
| Senior - BHPian  | Shuvc if it is just for city use, blindly go for AltoLXi. Not that I own one but... (but I bought it for my highway use!! anyway) Now coming to your point: 1) Frankly speaking 'SPACE' is a very relative term. Every non-electric car which run on 4 wheels can seat in 4 adults comfortably. I am sure for your use, space is not a constraint. parents / kids city ride so no issues. 2) As it is driver driven, all the more it is important for you to go for a high mileage car which at the worse case should give 14kmpl.(Mind you, I never got 14kmpl, my lowest so far is 15.67kmpl on my first fill and highest 21kmpl).... 3) It will be very good car to move around in city and also easy for ladies to handle (in case your wife use it)... 4) I dont think it makes sense investing on a diesel indica for city use like kolkata, where you have to think of idling everytime you start-stop the engine (your driver might not take that care) plus other city constraints...eventually might incur more costs... plus Alto will always have the good resale / exchange value.... My 2 cents Abhi
__________________ ------------------------------------ 2003 Bajaj Caliber115 | 2006 Alto LXi ------------------------------------ |
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5th February 2007, 16:25
| #8 (permalink) |
| Senior - BHPian | Thanks Abhi. A few of my friends here report 15-16kmpl for the Alto , but without AC. They say with AC the mileage drops by about 2kmpl. Any comments on that ? How much of a difference does the power steering make in the Alto ? EMI/Lakh/Month has been quoted at 2149/- for 5 years. This scheme does not have any finance discount. With finance discount of 3.5% it's 2250ish.
__________________ PIGZILNKILJBSCOMB |
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5th February 2007, 16:48
| #9 (permalink) | |||
| Senior - BHPian | Quote:
Quote:
Quote:
Abhi
__________________ ------------------------------------ 2003 Bajaj Caliber115 | 2006 Alto LXi ------------------------------------ Last edited by akroy : 5th February 2007 at 16:50. | |||
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5th February 2007, 16:49
| #10 (permalink) |
| Senior - BHPian | Ohh no didnt realize that it will showup so badly...anyway send me / PM your email id, i will send the details across... Abhi
__________________ ------------------------------------ 2003 Bajaj Caliber115 | 2006 Alto LXi ------------------------------------ |
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5th February 2007, 19:18
| #12 (permalink) |
| BHPian Join Date: Jan 2007 Location: Pune
Posts: 139
| Wow.. you have done a detailed analysis already. I was in a similar situation as yours a few months back. But, I'm strictly against a loan (except housing loan), and would rather prefer an outright purchase, even if that means a longer wait. So, I bought a 5 year old Zen for 1.35L. Anyways, about your questions, here's what I feel - - Is 1L over 5 years too high for a 6 year old Indica petrol maintenance costs ? No, it's too low. As you need a suspension and paint-job outright, you'll probably have to spend about Rs. 20-25,000 right away. Also, from what I've heard, an old Indica WILL bring tears to your eyes. Things may have changed with newer and better models, but keeping your 2000 model Indica is a NO, NO. - Can one expect a mileage of 14kmpl from a new Indica diesel ? Yes, one can. - Can one expect a mileage of 14kmpl from a new Alto ? Yes, one can. It'll be something like 16-18 if your driver is good. - Is 35000 too low a maintenance figure for an Indica diesel over 5 years ? No, it's quite close to my estimate. - Is 15000 too low a maintenance figure for an Alto over 5 years ? No, it's quite close to my estimate. - Is the per Lakh emi around 2250 for 5 years ? Or is it more ? The ROI works out to be 13% for this EMI. You can surely bargain for lower, since it's a new car. - Any other point that I have missed out which would have a monetary impact ? One point of a non-monetary impact is the frustration that you (or your family members) get when your car is in the mechanic's garage, in a useless state. Imagine going out to a night movie, and having to face a car-breakdown on the way back (on the way to movie is also equally frustrating). So, my choice would be to go for the Alto, and live a peaceful life. |
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6th February 2007, 21:30
| #13 (permalink) |
| Distinguished - BHPian  | I would suggest going with the option 1. You can go ahead and restore the car, I know someone who can give it that just new look (I have seen them doing old esteems and it becomes very difficult to tell). Why I suggest this is probably because you are going to get too low a value on this car even if u sell it now. The residual money can be kept in the bank as an added initiative when u upgrade your baleno. You have already done the mathematics of the resale values and shell out from the pocket. IMHO dont spend too much on the second car. On the other hand the Indica 2000 was infact a fun to drive machine and after being used to it, I doubt, even if your wifey likes driving the Alto. So give it that turbo red look and then surprise the turbo's by outsmarting them. Anyway we can always talk and I can take u to the aforementioned place that does rally cars where my oldie is getting a once over.
__________________ ________________________ Every Ferrari is always a Fiat |
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6th February 2007, 23:19
| #14 (permalink) |
| Team-BHP Support   Join Date: Oct 2005 Location: Hyderabad
Posts: 3,178
| Yes... I think 1100D has a point... If you can find that mechanic/garage that can restore your Indica Petrol to a new state (there are many everywhere... just need to locate) with an approximate cost of 20-25k that may be a better bet as of now. You do not spend money on paint job and stuff unless it is really required. After spending the 20k or so watch for 6-8 months. If you feel "cholbe" then just stick to it. Its always cheaper than an outright purchase. Anyhow considering that it will be used for city runs you do not fear that "getting stuck in a deserted road" thing. Moreover Indicas may creak and groan but I do not think they absolutely conk off... provided they get the timely maintenance. |
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7th February 2007, 09:36
| #15 (permalink) |
| BHPian  | Keep Indica 2000 LEi, which I currently have. It's a 2001 model run 40K kms. Maintenance - Pessimistically 20,000 per year ? = 1,00,000 Suspension needs work. Needs a full paint job. Queries - Is 1L over 5 years too high for a 6 year old Indica petrol maintenance costs ? Or should I stick to the Petrol Indica, give it a good servicing, a fresh coat of paint, nice wheels ?[/quote] shuvc, the 1 lakh figure over 5 years is too high. I'd say stick to the petrol Indica, give it a good servicing and try and restore it to good shape. I suggest a TASC for the regular servicing and suspension work.
__________________ 2003 March Tata Indica V2 LSi 92K km 1997 February Bajaj KB125 RTZ 48K km |
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