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Old 20th April 2006, 13:34   #31
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In last Aug2005 i have the same situation, to get a new car or old, my budget was around 3 lakhs, my friends suggested me to go for a new M800AC/alto, but i am not intersted, bcaz i want more power & reasonable luxury with good FE, after visiting old car dealers & i settled for ZEN2001 Vxi for 2.55lakhs which has done 25kkms on odo, really i am happy with my decision.
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Old 28th August 2009, 11:47   #32
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Hi All,
I was regularly following this form and was early waiting for getting a membership. Finally I made here. This forum is doing great, thanks to all GURUs.

Here comes my first query in this form. I am currently owning a Swift Zxi and enjoying the ride and it is with me in Bangalore for the past 4 years. Now I decided to buy one MUV for my home (Kerala). My first consideration was a new SUMO Grande 1.9L Turbo with TCIC engine (I am not looking for Innova and even Xylo due to its cost). Then I test drove the Grande and I didn’t like it due to its bad interior quality, bad handling and brumby ride. And the power delivery is also not to my taste. Then I test drove the Xylo it was way better than Grande in all aspects ( My own opinion). But again the budget is the problem. Then I settled myself to buy a second had Scorpio between 4L- 5L. Now I got an offer for a 2004 Scorpio 2.6 Turbo GLX (Single owner) for 4.5L with all 4 tyres new, good condition and has done 80k Kms. It is in Tiruvalla, Kerala. So can someone can tell me about the engine performance, power delivery and Fuel economy of this. The Owner claiming that he is getting 13 – 14 KM/Ltr. And finally the price, 4.5L is reasonable for this one? I think it is more by at least 25K.

Thanks In advance

Last edited by Jaggu : 28th August 2009 at 11:49. Reason: Removing [Font] tags, avoid cut pasting from external font editor, use preview before submitting. Thanks
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Old 28th August 2009, 18:04   #33
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My own experience, the only time I bought used.
Bought a Ford Escort diesel, for the "badda car" feel ( I was upgrading from an Omni!).
Had no problems with loan, as I took the loan against my FD, hence interest rates was low, and could use it in my tax-planning.
The car was very well maintained, clean and gave me great pleasure for the four years I owned it.
However the service costs were quite high, partly because that is how Ford was pricing things, and partly becasue the authorised service centre was ripping everyone off. The next time I buy pre-owned I'll make sure it's a Maruti, Hyundai, Toyota or Honda, where service costs are predictable.
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Old 28th August 2009, 21:49   #34
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Quote:
Originally Posted by GTO View Post
Also, for business' it makes sense to go in for brand new only. To take advantage of the depreciation slabs.

GTO
Can you elaborate? I mean, I know the whole concept of depreciation as we claim the same, but I was under the impression that the rate of depreciation that can be claimed for a used car is the same as for a new car. What's the difference like?
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Old 28th August 2009, 22:12   #35
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Quote:
Originally Posted by flyingspur View Post
....I was under the impression that the rate of depreciation that can be claimed for a used car is the same as for a new car. What's the difference like?
Think there is no difference. The rates are the same, it's just that you start with a lesser value, so you get lesser amount to deduct as depreciation. (But then you shell out more too).
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Old 28th August 2009, 23:28   #36
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It depends from situation to situation. With second hand buys, one need to be very calm and patient and look around for as good car as possible at as less price as possible. This process can take time.. it took me more than six months when I bought my car but then I got an almost new car at half the price.

with a new car, you get peace of mind, one doest have to look around spending almost entire weekend on car search, just need to go to the showroom, make the payment and get the car, its as easy as buying a chocolate these days. Also chances of lemon in a shape of new car are very minute until its a skoda.

Also, in second hand market, it depends on the car one is looking for, a Honda, Maruti or even the Hyundai would have decent resale value, so buying a used car can rarely be called a steel. However, if its Mitsubishi, Chevy, or Ford, there are more chances one can get a mint car by paying as little as half of the on road price. Resale of TATA and Mahindra Diesels are also good, so they wont be value for money.

If its diesel, I would prefer buying a new one rather than used.

Also, chk the thread by GTO which says why buy second hand cars over new ones. will make things very easy for you. I couldnt find the link, if some one can post it please.

Last edited by gaurav_chopra04 : 28th August 2009 at 23:34.
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Old 28th August 2009, 23:38   #37
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For me it has to be a brand new one. Even if I have a budget of 1.5 lakh, I will buy a brand new Nano rather then going for a used car. PERIOD.
I have friend who recently bought a used Optra 2003 1.8l engine for 1.5 lakh and now he is like stuck with it, the service bill for him was 45k. Now what sense does that make?
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Old 23rd September 2009, 13:16   #38
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Cool Used makes Sense.

Well, I am a car lover and I make a point to always go in for a used good condition car.

You can get a high end model of any car loaded with all the accessories at a lesser price than buying a new base model(no accessories) for the same car.

For me, Used makes Sense.

thanks,
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Old 23rd September 2009, 14:26   #39
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There is another Article by our very own GTO with the same topic.
http://www.team-bhp.com/forum/buying...-used-car.html (ARTICLE: Buying a New Car vs Used Car)

Very insightful reading.

EDIT: This would also help.
http://www.team-bhp.com/forum/buying...ownership.html (ARTICLE: The real cost of car ownership)

Last edited by RP_812 : 23rd September 2009 at 14:26. Reason: Edit
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Old 23rd September 2009, 14:33   #40
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I think the choice between Old/New depends on

1. Time horizon you are planning to keep the car.
- Depreciation Cost
2. The price you are ready to pay for the Features & Comfort you get
- Capital Cost
3. Running Cost
- Operational Cost

So,

1. If you are going to keep your car for more than 5 years then depreciation doesn't matter to you. - Ignore it.
2. If you dont have enough money to buy a new 10 lakh ANHC, then can go for used NHC for half the price of ANHC.
3. Operational Costs are very important.
Consider this. I could have bought a BMW 1997 model or a Swift VXi for 5+ lakhs. But maintenance cost of BMW will be atleast 6-10 more than Swift for the next 5 years.

So Old or New should be based on the above criteria.
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Old 23rd September 2009, 17:24   #41
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okay i will just give an example of used cars and new cars.

and you guys be the judge.

this came as a complete surprise when i went to meet my best buddy.to his house. he had called me to come over as he had bought a new swift car for himself. we both are 22 and 23 year old! i was very excited, when i got there i was like dude where's the car. he said his bro took it out for some accessories and stuff.. i said oh okay.

but he then showed me another car he bought lolz. he lied to me he had said my budjet was 5 lacs but it was really 10 lacs. i was shocked to see a beautiful white elantra gls (petrol). used but it was spanking clean not a scratch. i was speechless and dumbfounded at the same time. it was a complete surprise. my friend couldn't stop laughing and so couldn't i.

later he explained that he had a budget of 10 lacs but he said that he personally always wanted a big car for himself. and a car which was loaded.

i checked and it had alloys, airbags,climate control. 10 cd changer. leather seats everything. although the interior looked old i mean compared to a carolla or a civic but they had an old world charm to it. the car had a good sound system too. we went for a drive and it was smooth as butter. price of deal was 4.5 lacs. 33500 kms done!! and yeah

then we got into the new swift.which was a vxi () which was fun too but then after driving the elantra you feel you drop down like 3 segments from D to A2. lolz this is when i thought hey its not a bad deal to get yourself a used car, if its at the right price and the product is really good. its worth it.

my buddy explained the decision on buying used car.

the elantra will be used for out of town driving on highways as its more safe and swift will be used for city driving mostly. but whenever we go out, we prefer the elantra.


the moral of the story is that a lower segment car like swift or a hatch will not give you the feel of a big sedan. the comfort. ride quality. the behaviour, power its completely different. it just that you have to keep the eyes open at what you are buying or what you are getting into when it comes to second hand purchase.

Last edited by Caramelo : 23rd September 2009 at 17:32.
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Old 25th September 2009, 15:23   #42
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It depends on your financial situation as well.

From my perspective if you are looking for a diesel one,better to go for a new one.Since the running is high,it servers you without any trouble.

In general most of the petrol vehicle are less prone to rough use.And this is subjective to the owner of the vehicle.

Doesn't mind if you purchase any used one from a buyer well know to you.

For buying a used one you need to have lot a patience & definitely strike a sweet deal.If your in a hurry in owing a vehicle,you will get a lemon.
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Old 25th September 2009, 16:45   #43
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Let me give you the latest update from SBI, today's update. The RoI for a used car at SBI Bangalore is, hold your breath, 15.5% plus a .25% of the loan amount as proccessing fees.
The car should not be more than 2 years old.
The repayment period is 5 years max.

I m trying it out with other banks. Fingers crossed
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Old 25th September 2009, 16:54   #44
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A one year old car would always give an extra edge when it comes to the budget.

Say, you can stretch upto 10L, you have the choice of a ANHC or a one year old used Honda Civic.....Think about it....

If the budget is around 5L, you can get a new SWIFT/RITZ/Punto or a sparingly used 2nd Generation Honda City/Fiesta......Think about it.
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Old 25th September 2009, 21:12   #45
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Quote:
Originally Posted by n.devdath View Post
Let me give you the latest update from SBI, today's update. The RoI for a used car at SBI Bangalore is, hold your breath, 15.5% plus a .25% of the loan amount as proccessing fees.
The car should not be more than 2 years old.
The repayment period is 5 years max.

I m trying it out with other banks. Fingers crossed
try PNB, or some other banks man.

what car are you looking to buy. if i can ask, i would suggest don't get into loans and stuff for 2nd hand cars. i don't feel its worth it.

why pay 15-16 percent to something used and seriously depriciating. then comes the question of selling it again if you find yourself in the market for a new car after a few years.
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