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Old 18th June 2012, 16:28   #16
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

One man food is other man poison.
My friends who are trying to dispose their petrol drives are very sad at the kind of resale value they are seeing. Feel bad for them.
On the other hand Diesel car owners are happy. They are sure of very nice resale value. They are banking on a new tax on diesel cars and no retrospective taxes on the Diesel cars already sold.
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Old 18th June 2012, 16:30   #17
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Looks like I won't be buying a diesel car for a long long time!

Prices of Japanese petrol 4WD SUVs - Mitsubishi Outlander, Suzuki Grand Vitara and Honda CRV - are interesting (well, atleast by Bangalore's standards)
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Old 18th June 2012, 16:34   #18
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Quote:
Originally Posted by Speed-Freak View Post
Now i have been trying to sell my ride for 1.75L and i do not have buyers for it.
Did you try posting same on t-bhp site for sell ?I am sure there will be many takers for 1.5 City.
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Old 18th June 2012, 16:42   #19
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Somehow I am not seeing any such things on the TBHP classifieds or on carware.
Within 3 lacs,
Alto: 2-2.5 lacs, 2009 cars mostly
WagonR: 2.5 -3 lacs, 2009 cars or 2010 with high odo reading
Estillo: 2.5-3 lacs, 2009 cars
Only other cars within 3 lacs: Nano, Spark and U-VA.
(Note: I am only looking for a second hatchback for City use).

If you couple this with the good exchange offers from Maruti (around 20K off), then the difference between a new Alto and an old one is hardly 1 lac.
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Old 18th June 2012, 16:59   #20
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Quote:
Originally Posted by Speed-Freak View Post
I also happened to find a E250 CDI-2008 model which had done 55k kms for a little above 13L without any negotiations.
But that is diesel car right? It is incredible that such a modern car looses 70-80% in 4 years!
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Old 18th June 2012, 17:11   #21
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

You know the best ones to buy in this situation? W124 E220s just see the prices crash. A lot of ads on popular online classified listings already sport reduced prices.
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Old 18th June 2012, 17:32   #22
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Hmm... A 2-3 year old Laura 1.8 TSI or Superb 1.8TSI would be highly tempting if there are high discounts really available here in BLR. Used Car availability is relatively low here, anyways.
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Old 18th June 2012, 17:35   #23
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

My uncle wanted to sell his Old Honda City 1.5 2003 model. Car was in good condition & he was expecting hardly 2 Lacs for his car. Car was hardly run 70 K kms. He tried for 3 months but didnt get any customer above 1.5 Lacs. Finally he has to exchange it to new Alto with Maruti dealer. Total amount he got is 1.75 Lacs including exchange bonus.

Very very hard time to sell petrol car now a days. Just imagine what will 1.6 Palio or Polo will get in current market. Or cars like U-Va, Aveo, Linea Petrol, Indigo P, etc
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Old 18th June 2012, 17:41   #24
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

And I thought I am the only one thinking about Cedia

Like most of you, I also wanted to own a Cedia for a long time. Echoing GTO's thoughts on used car market and thinking that this is the right time to buy a cedia, I called up Mitsubishi dealer in Bangalore (just out of curiosity) to check on the offer they have on Cedia only to get an answer that Bangalore has only service division (SVR Motors) . Sales will be opened in another months time. So if any of you know of any well maintained Cedia which is on sale, Please PM me.
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Old 18th June 2012, 17:46   #25
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Just wait till petrol prices touch the Rs.100 mark, residuals will crash below the basement. Since our media isn't usually in the habit of revealing the complete truth, I feel one of the major reasons for rupee devaluation and subsequent oil price hike was the debt servicing payment scheduled in May 2012. With receding FDI inflows, this is bound to repeat. Wait for the next cycle and petrol prices will be raised further and used petrols will begin to crash even further.
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Old 18th June 2012, 17:51   #26
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Quote:
Originally Posted by aniketi View Post

Very very hard time to sell petrol car now a days.
Is this true for places with easy access to CNG also? For eg. in Bombay, if I were to buy a car today, I would seriously think of buying a 2nd hand petrol car cheap and convert to CNG.
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Old 18th June 2012, 17:54   #27
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

No such massive fall in prices here in Bangalore. Last few days I have been checking out used car sites and I dont see a dramatic fall compared to 6 months back- atleast I dont see it online. Have to check with dealers next.
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Old 18th June 2012, 18:14   #28
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I wish sports cars were also available at reduced prices. Id happily buy a 370z if given the choice. Are they going to command higher prices or fall just like other petrol cars?
On other hand W124 prices have been great over the past few months but the offers sound too good to be true. 2 to 3 lacs offer on the tbhp ads.
Whatever it is, now is the market for petrolhead to indulge himself. Spoilt for choices. It can only be heaven in terms of prices if petrol hits 100. For a 20lac budget one can end up owning a lot of really good cars.

Cheers.
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Old 18th June 2012, 18:17   #29
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

Is this kind of drop limited to Mumbai only in Maharastra ? I recently had a casual look at a Nashik used 4 wheeler dealer and the asking price seemed bit high for petrol cars.

Can we expect some drop in value of performance (>150cc)motorcycles as well ?
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Old 18th June 2012, 18:54   #30
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Default Re: An upside to the petrol price hike : Used car residuals CRASH

The right thread! Just picked up a 2006 October Hyundai Elantra GLS Gold model single-owner with ~48K on the odo for a great price! My requirement was an Elantra petrol of a Cedia. The Cedias I considered were high mileage or were driven by young blood (ripped to glory)!

So its an Elantra! Details on a ownership thread soon!
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