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Old 5th August 2007, 18:21   #1
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Question Cost analysis of owning a Maruti Zen VX 99

Hi All,
I was just working out a Cost sheet today of a Second hand Maruti Zen that I had purchased in November 2006. The reason for the analysis was to find out how much I had spent on Owning the Car in the last 9 month. The working below will give all a fair idea. The only point to note is I took ownership of the Car in Nov 2006 and my EMI's started in January, so all cost have been calcuated for 9 months and EMI's for 7 months. I was preety surprised by the figures and have started wondering weather I should have purchased a New Car instaed of bying a second hand one.
About the Car, well since it was my first Car purchase, I have learnt a lot about cars and for some strange reason like the 99 Carb Zen VX, though I think it is under powered. I'm now keen on getting some body work done as there a rust at palces that's got to be taken care of.
I would really appreciate some comments on the Cost of ownership that I'm posting, as I would like to know the way I'm calculating is right or not and if I would have been better off buying a new car in the first place.

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Old 5th August 2007, 20:45   #2
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Forgot to add to the above, had taken a 80k loan and the EMI was working out to 5309 for 17 months, have paid up 7 EMI's till 31.07.07, which is calculated above and have 10 more to go, which will end in May 2008.

The deal with the dealer was struck at 115k, out of which 80k was on loan, the balance+Transfer Changers+insurance+pending tax (Which I was unaware of, and only at the time of name transfer this came up, by which time I already had driven the car for a month and a half) came up to 51771.
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Old 6th August 2007, 10:32   #3
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Your cost of owning a new car would have been higher, since then you will also add the cost of depreciation of a new car @40% each year and the new car would be costlier and therefore higher EMI's, you would have saved some in the maintenance but apart from it, other costs would have remained the same.
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Old 6th August 2007, 17:06   #4
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To really compare a used car to a new one, also consider the present resale value in your equation. To business owners, a new car actually works out cheaper after factoring in depreciation benefits and lower interest rates.
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