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Old 8th April 2009, 20:07   #1
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Thumbs up Long term luxury car rental in Mumbai?

A friend of mine has an urgent requirement for Long term car Rental (upto 3 years ), without Fuel and Driver, in Mumbai
He needs Quote for the following models :
1. Honda CRV - new shape
2. Chevy Captiva - New model
3. Ford Endeavour
4. Honda Civic
5. Honda Accord
6. VW Passat
7. Audi A4
Any pointers on companies or individuals who rent out cars long term
Thanks in advance guys
Ram
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Old 9th April 2009, 10:56   #2
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If he wants to use a car for 3 years or more, enter into an agreement with a leasing company such as Orix or leaseplan.

Alternatively (and as a cheaper option), he could buy a used D segment car that is expected to hold its value well over the next 2 - 3 years. For instance, pick up a 1st gen Accord for 4 - 5 lakhs or 2nd gen for 7 - 9 lakhs, use for 3 years and sell her off. The money lost will be marginal.
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Old 9th April 2009, 13:19   #3
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Thumbs up thanks for the input

Quote:
Originally Posted by GTO View Post
If he wants to use a car for 3 years or more, enter into an agreement with a leasing company such as Orix or leaseplan.

Alternatively (and as a cheaper option), he could buy a used D segment car that is expected to hold its value well over the next 2 - 3 years. For instance, pick up a 1st gen Accord for 4 - 5 lakhs or 2nd gen for 7 - 9 lakhs, use for 3 years and sell her off. The money lost will be marginal.
Thanks buddy
spoke to both the companies and they are mailin me the quotes
Any other such companies in Mumbai ?
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Old 11th April 2009, 16:06   #4
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Exclamation Does it make sense to buy given the high rental cost ?

I have been given the following quote by Orix, for tenure of 60 months :
1. Honda Accord MT - 67,915 per month
2. Captiva MT - 71,321/-
3. Ford Endeavour Hurricane - 64,860/-
4. Passat B6 MT - 97,529/-
5. Honda Civic V MT - 46,292/-
6. Audi A 4 2.0 TDI - 125,827/-

Does it make sense to buy the car upfront and sell it at the end of 3 years when he leaves the country ?
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Old 11th April 2009, 16:26   #5
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Quote:
Originally Posted by pinnacle View Post
I have been given the following quote by Orix, for tenure of 60 months :
1. Honda Accord MT - 67,915 per month =
2. Captiva MT - 71,321/-
3. Ford Endeavour Hurricane - 64,860/-
4. Passat B6 MT - 97,529/-
5. Honda Civic V MT - 46,292/-
6. Audi A 4 2.0 TDI - 125,827/-

Does it make sense to buy the car upfront and sell it at the end of 3 years when he leaves the country ?

Rather take a loan and you would still have lot cash in the pocket? I wonder which financial principles justifiy this? Even with tax benefits this is insane I wonder how companies that use these lease plans justify such high costs!!

Wow cars which cost 20 lacs OTR are coming to Rs. 42 lacs the passat which costs Rs. 24 lacs odd comes to Rs. 58 lacs are these with gass & driver?? How does this make sence

Last edited by canonball : 11th April 2009 at 16:30.
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Old 11th April 2009, 16:49   #6
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Rather take a loan and you would still have lot cash in the pocket? I wonder which financial principles justifiy this? Even with tax benefits this is insane I wonder how companies that use these lease plans justify such high costs!!

Wow cars which cost 20 lacs OTR are coming to Rs. 42 lacs the passat which costs Rs. 24 lacs odd comes to Rs. 58 lacs are these with gass & driver?? How does this make sence
these rates are without fuel and driver.
my friend is an expat and was really astonished to see these figures.
since they have a new company that is being set up in india, they were advised to lease cars and not buy. but these funny prices makes me think buying even with a loan would make much more sense. How are the resale values of these cars and is it easy to sell them after 3 years ?
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Old 12th April 2009, 18:06   #7
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Quote:
Originally Posted by pinnacle View Post
4. Passat B6 MT - 97,529/-
Where are they going to get this thing from? Import it? The Passat in India is only manufactured with an A/T.
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Old 12th April 2009, 21:43   #8
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I think you do get a Manual Passat in India. Not totally sure though.


It's atrocious though. 1,25,827 for the A4 2.0 TDI. per month? That's nuts. That's Rs. 60L + in 5 years. Buying an S class anyone?
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Old 12th April 2009, 23:06   #9
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I think you do get a Manual Passat in India. Not totally sure though.
No manual in India. 6-speed DSG A/T standard.
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Old 13th April 2009, 13:09   #10
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Default Resale value after 3 years

For the high end cars, can we expect a resale value of 50% of the original cost ?
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Old 13th April 2009, 18:02   #11
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Those lease quotes are killer expensive!! Best then to buy new / used and sell her off after 3 years.
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Old 13th April 2009, 20:47   #12
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Those lease quotes are killer expensive!! Best then to buy new / used and sell her off after 3 years.
i think thats the best option.. but how easy is it to sell these 3 yr old cars ?
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Old 14th April 2009, 08:17   #13
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i think thats the best option.. but how easy is it to sell these 3 yr old cars ?
Easy?? Ofcourse brother this is india anything that is associated with luxury at cheaper price than the real deal will sell like hot cakes....
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Old 16th April 2009, 17:40   #14
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Thumbs up alternative of used car

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Originally Posted by GTO View Post
Alternatively (and as a cheaper option), he could buy a used D segment car that is expected to hold its value well over the next 2 - 3 years. For instance, pick up a 1st gen Accord for 4 - 5 lakhs or 2nd gen for 7 - 9 lakhs, use for 3 years and sell her off. The money lost will be marginal.
Hi GTO
after looking at all options and the possibility of losing more money when selling a new car after 3 years, my friend now is thinkin to go in for a 1-2 yr old Honda CRV or Accord
What would be be the best places to look at in mumbai
Some reliable setup
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Old 16th April 2009, 22:30   #15
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Quote:
Originally Posted by pinnacle View Post
Hi GTO
after looking at all options and the possibility of losing more money when selling a new car after 3 years, my friend now is thinkin to go in for a 1-2 yr old Honda CRV or Accord
What would be be the best places to look at in mumbai
Some reliable setup
No dealer/agent is reliable/unreliable. Please understand that cars in not so great condition also need to be sold. Best option is to look anywhere and everywhere and get the car inspected by two independent authorized dealers/service centers for a fee. I am sure with the sum you will be paying and looking at the seriousness, the seller shouldn't mind taking the car for inspection. If he knows for sure that the car is clean he will be flexible enough for you to ascertain the condition of the car. Obviously you have to agree on a price first assuming and indicating that this is what you would pay if the car is in sound shape and does not require any major work.
Some authorized dealers may also offer a year or similar warranty on the engine and transmission in addition to a couple of free services. Maybe the extra premium (about 30-50k for the cars you considering) they charge over other dealers may be worth the peace of mind.

Last edited by dipen : 16th April 2009 at 22:32.
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