Palio S10 queries and doubts

[govigov]

Called the loan guy now, he put me through to an evaluator, so i am taking the evalutor with me to see the car.. he is saying that the palio is a stopped model and that will cause lot of issues :(

[amit]

Originally Posted by govigov

he is saying that the palio is a stopped model and that will cause lot of issues :(

Palio is not a stopped model. S10 is also not a stopped model since the company intended to manufacture only a limited number of these cars.

I think the evaluator himself needs to be eveluated.

[nikunj_cal]

Me too saw an s10 on the roads around a month ago, but one should beware of clever fakes. All the mods offered by the s10 were easily available as after market accessories ! The only way of knowing i guess is to look at the registration papers.

[govigov]

hello all,

BAD news. since its an sep 03 vehicle, we would only be getting a loan for only 2 and half years, (max tenure after the vehicle manufacture being 7 years, that is we would have to close the loan by sep 2010) this would sky rocket the EMI(only about 32 installements). (we were expecting a 4 or 5 year loan) this is from SBI. IF this is the scenario here, i am very sceptical if ICICI or HDFC would be able to provide the loan.

dont know what to do :(

[dipen]

I am just guessing and suggesting, not too sure. But is it possible to get a personal loan for the same. Not sure of any hidden elements. Just a suggestion. If you are a salaried employee, you could get a personal loan from the bank for a longer duration based on your account statement or salara slips. I think the interest rate would be the same for personal loan compared to a used car loan.

[govigov]

@dipen, i am contemplating the same. Today i will look into it.

used car from SBI is at 15%
from other banks, 17%
personal loan 18%

let me check out the small print in personal loans today

[madan80]

the 1% extra between the other banks and personal loans for an amount of 2.1 L is about 2K.

Also, the personal loan route for this car is a better option since.
1. you dont have the hypothecation hassle.
2. you dont need to worry about papers etc. Personal loan can be used for anything.
3. Ensure that you get the necessary receipts from the seller.

Just a question - You said its got an AutoMech FFE, and then its been done by Raj Hingorani. what has been done by whom?

[ram_hyundai]

hey good buy,if possible go in for a GOLD LOAN.if you have them,int rates are too low and as said no hassles for the regn.its a temperory arrangement for cash isnt it.
ram

[govigov]

@madan,

FFE from auto mech,

Tuning, stabiliser bars in the front etc by raj hingorani.

@all,

ICICI valued the vehicle at 1.9 L, and they are ready to give a loan for 1.5L for 3 years @ 9% interest.

Or the other option is to go in for a personal loan at 11%

[16v100bhp]

Originally Posted by govigov

2. the car is modded with an automech ffe, is that reliable? because, i read elsewhere that ffe is not reliable in the s10.

I've been using FFEs on my S10 for close to 2 yrs. No issues as of now.

[deetee]

Originally Posted by govigov

@madan,

FFE from auto mech,

Tuning, stabiliser bars in the front etc by raj hingorani.

@all,

ICICI valued the vehicle at 1.9 L, and they are ready to give a loan for 1.5L for 3 years @ 9% interest.

Or the other option is to go in for a personal loan at 11%

quoted rate of interest is ok(supposing it is flat -no way diminshing is so low). In case you go for used car loan, then fore closure will be a bit costly affair with icici;not to mention paper work involved. So, if the difference in ROI is not high for you , consider personal loans for nationalised banks , if not icici/hdfc are always at your doorstep.

[govigov]

Hi all,

Due to technical reasons, wont be picking up this car. Am gonna inform the seller of this sad news tmrw morning.

If anyone has a gypsy to sell, give me a heads up. would be starting the thread for that soon.

[wanderlustindia]

Originally Posted by govigov

@dipen, i am contemplating the same. Today i will look into it.

used car from SBI is at 15%
from other banks, 17%
personal loan 18%

let me check out the small print in personal loans today

if u bargain hard for a personal loan, they can bring it down to a reasonable 15-16%. Used car loans are also in the same region as rightly mentioned by you.

[gods-envy]

@govigov
If you are not going for this car, could you please send me the seller's details,
I am very keen about the same.

Pls PM me.

[gods-envy]

Hi Govigov,
If you are not going for the s10, could you please send me the Sender's details.

I might be interested.
Thank you.