Go Back   Team-BHP > Team-BHP > Team-BHP Advice > On owning a car


Reply
 
Thread Tools Search this Thread
Old 16th August 2013, 13:06   #556
Senior - BHPian
 
vnabhi's Avatar
 
Join Date: May 2007
Location: DC -> DC
Posts: 5,036
Thanked: 1,038 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by Optimus7 View Post
Very interesting article. I am a bit confused on whether to retain my 2007 Fiesta TDCi or go for a new car. The reason being, the car is giving me a lot of problems one after another, the maintenance cost is getting higher and my peace of mind is getting lost.

I am really in favour of buying an 2-3 year old premium hatch, and have peace of mind in owning it. Will it be a wise decision or should I put up with my current ride and thrown in the money as an when needed? Need your thoughts please.
Can you please list out the issues you've been facing, and the cost of repair? I'm asking because I have recently bought a Figo TDCi that has the same heart, and therefore curious to know what I should be prepared for.

This apart, we can advise you on your next buy only after getting this information. In my case, my 12-year old WagonR that has 67.5 K on the odo is gradually getting coslty to maintain, but the max I've spent so far was 8 K in the annual service last year. This year it was a little over 4 K. In my case, retaining it makes sense when compared to getting a new car and doling out 15 to 22 K per month as EMIs. The only irritant is rattles from the dash and boot area. But then I am told most Marutis have this issue after a year or two of ownership.

On a different note, my 2007 Fiesta 1.6 sxi has been problem-free, and costs around 4 to 6 K per year for annual service.
vnabhi is offline   Reply With Quote
Old 17th August 2013, 21:08   #557
BHPian
 
sbala's Avatar
 
Join Date: May 2007
Location: Bangalore
Posts: 380
Thanked: 139 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by Sebring View Post
My opinion is that as long as the car is mechanically sound, keep it. I'm quite fastidious about my things, so a scratch or two which invariably happens, doesn't dent my heart. When I'm in bengaluru, I put up the 'L' sign on my car and drive between 40-60 KMPH, cautious to the core. The old Zen has served us well, except for the weak AC, so I have no intention to upgrade. In fact it's another joy to see your 'so called' relic in ship shape and 'glint in the sun' like new. Once again, purely my opinion.
Thanks !!! Yeah, I have decided to live with my current car till August 2014 for now . Its still a good car. So, no regrets in keeping it for one more year.
sbala is offline   Reply With Quote
Old 17th September 2013, 21:11   #558
Newbie
 
Join Date: Apr 2011
Location: Pune
Posts: 20
Thanked: 53 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

At last I found this thread. I have a dilemma. I have a three year old Ford Figo ZXI (petrol) , which has just done 23000 km. No accidents, white colour, well maintained. no insurance claims etc etc etc. basically, it should be a decent resale value for me (hopefully). I have two years left on my 5 -year loan period, like most of us.

I am kinda itching to upgrade to a 10 lakh car. I am also one of those souls who has the benefit of getting a 7 lakh loan for 10 (yes , ten) years repayment, at 2% less than the market rate what banks offer. These terms are from a loaning agency co-owned by my organisation, for our employees.

I have about 3.5 lakhs saved, my Figo should reasonably fetch me 3 Lakhs (again, hopefully), and i can get a 7 lakh loan (max loan amount, irrespective of car cost), at subsidised rates, for extended repayment duration. Basically, my EMI for a 7 lakh loan comes to only Rs 8500 - 9000.

I also WILL prepay the entire loan (whatever is left off it) in three years time, because of some expected financial gain.

Can someone here please help me on whether I should buy a new 10+ lakh car ?
Am i financially taking the right decision or am I just being sucked into satisfying my three year itch? Please give allowance to the heart as well as the head.

Is it a good idea to buy now, in these present terms and present crop of cars available or should i save for one more year (say make this 3.5 to 4.5 or 5 lakhs) and buy a newer model expected, factoring in the depreciation of my Figo?

I am confused. Heart says BUY. Head says "don't listen to the heart". Decided that I would surrender to the collective wisdom of T-BHPians.

Thanx folks !
saranhere is offline   Reply With Quote
Old 17th September 2013, 23:40   #559
BHPian
 
Join Date: Dec 2007
Location: Pune
Posts: 130
Thanked: 139 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

So you purchased a Ford Figo 3 years ago for approx 5L on road, and took a loan on it, since you did not have spare cash for a full downpayment.
Now, in 3 years, you will sell it for approx 2.5L, i.e. half the cost.

You will buy a car worth 14L now, which will depreciate to 8L in the next 3 years. So in 6 years, you will have lost 8.5L to depreciation. So basically you are loosing approx 1.5L per year to depreciation

If you can afford the depreciation loss from this perspective as compared to your savings and income, go ahead.
abeerbagul is online now   (1) Thanks Reply With Quote
Old 18th September 2013, 00:17   #560
Senior - BHPian
 
rajeev k's Avatar
 
Join Date: Jul 2009
Location: Emerging Metro
Posts: 3,281
Thanked: 1,654 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Friends, I need an advice on my seven and a half year old Swift Vxi which has clocked around 47K Kms. What should I do; go for a new car or keep it?
The swift is in good condition and I am unable to take a decision on my own.
rajeev k is offline   Reply With Quote
Old 18th September 2013, 00:48   #561
Senior - BHPian
 
bluevolt's Avatar
 
Join Date: Jan 2011
Location: New Delhi
Posts: 2,809
Thanked: 1,845 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by rajeev k View Post
Friends, I need an advice on my seven and a half year old Swift Vxi which has clocked around 47K Kms. What should I do; go for a new car or keep it?
The swift is in good condition and I am unable to take a decision on my own.
Why you want to buy a new car?

Is this because Swift is 7 years old and 47K KMs?

If you want to buy a new car just for the sake of upgrading then wait for 1-2 years more and then take a plunge. If your Swift is giving you problems and not in good condition to be taken on long drives then you can get a new car asap.
bluevolt is online now   (1) Thanks Reply With Quote
Old 18th September 2013, 05:40   #562
Senior - BHPian
 
rajeev k's Avatar
 
Join Date: Jul 2009
Location: Emerging Metro
Posts: 3,281
Thanked: 1,654 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by bluevolt View Post
If your Swift is giving you problems and not in good condition to be taken on long drives then you can get a new car asap.
Nope the Swift is in fine fettle. Recent snags were on the instrument cluster and the wiper assembly which were replaced.
See Link :http://www.team-bhp.com/forum/techni...r-failure.html

Last edited by rajeev k : 18th September 2013 at 05:43.
rajeev k is offline   Reply With Quote
Old 18th September 2013, 13:57   #563
Senior - BHPian
 
thoma's Avatar
 
Join Date: Oct 2011
Location: Kerala
Posts: 1,706
Thanked: 931 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by rajeev k View Post
Nope the Swift is in fine fettle. Recent snags were on the instrument cluster and the wiper assembly which were replaced.
I thought you were doing the rounds on the Figo. 47k kms is peanuts on a Swift unless you are too frustrated about rattles, especially when the Swift is still selling like hot cakes parts availability is never an issue and never will be.

Else, if your eyes have stuck on to something new, you may pursue your heart. But don't sell a Swift just because it has become 7 years old. I agree with bluevolt to wait a couple more years to get many more options.
thoma is online now   (1) Thanks Reply With Quote
Old 20th September 2013, 07:38   #564
Newbie
 
Join Date: Dec 2009
Location: Thane (Mumbai)
Posts: 6
Thanked: Once
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

My Innova is a 2005 December model and has clocked 2 lakh kms, most of which on long distance driving. Car serviced every 5000 kms only at Toyota's showroom (never seen a roadside mechanic). Had no major problem so far. Changed car tyres, battery periodically as required. Showroom can give service history. Toyota showroom/garage say the vehicle is in very good condition in view of excellent service history. Can I please get advise whether I can continue to keep it, price I can expect if I decide to sell? Silver coloured Innova.
G Jee is offline   Reply With Quote
Old 20th September 2013, 14:31   #565
Senior - BHPian
 
bluevolt's Avatar
 
Join Date: Jan 2011
Location: New Delhi
Posts: 2,809
Thanked: 1,845 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by G Jee View Post
My Innova is a 2005 December model and has clocked 2 lakh kms, most of which on long distance driving. Car serviced every 5000 kms only at Toyota's showroom (never seen a roadside mechanic). Had no major problem so far. Changed car tyres, battery periodically as required. Showroom can give service history. Toyota showroom/garage say the vehicle is in very good condition in view of excellent service history. Can I please get advise whether I can continue to keep it, price I can expect if I decide to sell? Silver coloured Innova.
If the car is giving no problems the try to keep it further for 1-2 years or 50-60k or even more KMs more and then get a replacement.

Innova diesel engine is very reliable one and I have seen Innovas with more than 3lac+ kilometers on ODO and run just perfectly like any other new car. (Travelled in this car from Ahmedabad to Surat and vice versa last month).
bluevolt is online now   (1) Thanks Reply With Quote
Old 20th September 2013, 15:03   #566
Senior - BHPian
 
AutoIndian's Avatar
 
Join Date: Aug 2010
Location: PCMC, Pune-MH14
Posts: 2,868
Thanked: 3,347 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by G Jee View Post
My Innova is a 2005 December model and has clocked 2 lakh kms, most of which on long distance driving. Car serviced every 5000 kms only at Toyota's showroom (never seen a roadside mechanic). Had no major problem so far. Changed car tyres, battery periodically as required. Showroom can give service history. Toyota showroom/garage say the vehicle is in very good condition in view of excellent service history. Can I please get advise whether I can continue to keep it, price I can expect if I decide to sell? Silver coloured Innova.
Hello G Jee, since you are a newbie I cannot send you a private message, hence thought of posting it over here. I am on the lookout for a used Innova especially for outstation trips with family. If you are planning to sell yours please send me your quote in a private message. I would always prefer to buy a used Innova from a TBHPian rather than from some used car dealer or any unknown person (if it is going to be a direct purchase form an individual). By the way which model is it?
AutoIndian is offline   Reply With Quote
Old 20th September 2013, 20:19   #567
BANNED
 
Join Date: Jul 2009
Location: roaming
Posts: 134
Thanked: 14 Times
Infractions: 0/2 (9)
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Folks, the same question again - My wife drives a Jan 2007 Alto lxi which has now done 1 Lakh kms, her daily drive is 22-25 kms per day/5 days a week. Nothing wrong with the Alto as all service/repairs have been done in MASS, though the clutch is a bit weak (had the main oil seal in the gearbox changed at 85K kms ) but the outright power is missing post this repair and hence I'm contemplating whether to change the car or repair and retain it ?
ridinthru' is offline   Reply With Quote
Old 21st September 2013, 22:23   #568
P76
BHPian
 
P76's Avatar
 
Join Date: Nov 2005
Location: Chennai
Posts: 66
Thanked: 28 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by G Jee View Post
My Innova is a 2005 December model and has clocked 2 lakh kms, most of which on long distance driving. Car serviced every 5000 kms only at Toyota's showroom (never seen a roadside mechanic). Had no major problem so far. Changed car tyres, battery periodically as required. Showroom can give service history. Toyota showroom/garage say the vehicle is in very good condition in view of excellent service history. Can I please get advise whether I can continue to keep it, price I can expect if I decide to sell? Silver coloured Innova.
Hi G Jee, your Innova testifies Toyota's legendary reliability. You have done only the general service and required tyre and battery changes. You should have also changed the Brake pads/linings. Please let me know about the clutch, Timing belt, suspension service life in the Innova.
P76 is offline   Reply With Quote
Old 21st September 2013, 22:40   #569
Newbie
 
Join Date: Dec 2009
Location: Thane (Mumbai)
Posts: 6
Thanked: Once
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Hi P76,
I have also changed the Brake pads/linings as and when advised by Toyota. Same with clutch, timing belt, suspension. I follow their advise blindly and they also advise me from time to time if anything needs to be attended to. I believe at the end of the day, the manufacturer's instructions has to be followed in toto as they know their product best.
G Jee is offline   (1) Thanks Reply With Quote
Old 23rd September 2013, 14:59   #570
BANNED
 
Join Date: Mar 2012
Location: Bangalore
Posts: 199
Thanked: 148 Times
Default Re: ARTICLE: YOUR 5 year old car : Keep, Upgrade or Swap?

Quote:
Originally Posted by rajeev k View Post
my seven and a half year old Swift Vxi which has clocked around 47K Kms. What should I do; go for a new car or keep it?
The answer is quite simple. Decide if you want to spend (splurge) money or save it. Buying a new car will certainly involve considerable expense and you could actually SAVE quite a bit of it. The car that you drive is one which hasn't changed by much over the years and since you drive very less it is not very smart to upgrade unless you have been left a fortune by a deceased relative.
My take is that you should give your car any or some or all of the following:
fresh coat of paint
new tyres
new battery
new seat covers
new floor mats
a comprehensive service including change of all rubber parts like belts, hoses, bushes etc
some sticker work (bling)
new car perfumes
some more detailing as allowed by the family...
AND voila you have yourself a new car without gifting your hard earned money to Messrs Hyundai / Suzuki / Chevy etc. They are wealthy enough without our contributions.

The quality of our city roads dont warrant unnecessary expenditure.
Keep the car for 15 years.
In fact i intend to start a thread on this topic soon. Lets see.

Last edited by bblost : 23rd September 2013 at 15:31. Reason: fixed a quote.
fiestarry is offline   (1) Thanks Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Two Classics, One Car - 81 year old Packard and 101 year old owner karlosdeville Beyond Borders 5 29th August 2016 00:42
Keep my vista or save for new car? Planning crosscountry road trip in 1 year. nukeblitz Hatchbacks 23 6th September 2011 16:58
96 year old sells 55 year old Italian Fiat for Nano !! emkay456 Shifting gears 14 11th May 2009 14:02
To keep or not to keep...am confused lohithrao Sedans 13 9th April 2008 10:48


All times are GMT +5.5. The time now is 17:30.

Copyright 2000 - 2016, Team-BHP.com
Proudly powered by E2E Networks