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Old 10th July 2006, 11:01   #1
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Default Is it the right price for a Honda City ?

Hi.

I am a new member to this group. It will help me to finalise the deal ( ) if you could give your value comment on the following deal.

Jan - 2004 model, Honda city Exi, Mileage 18000 kms done, Single Owner. Its fully loaded with dual color stanley leather interiors, pioneer mp3 player. Also, hve recently added alloy wheels. Car is in excellent condition. It is in Chennai.

Owner fixed the price as 5.5 lacs. What is the optimal price we can bid ?

Regards,
VJ
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Old 10th July 2006, 11:51   #2
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I am guessing its the NHC and since the EXi comes with some less equipment but keeping in mind the after market stuff I think an ideal price should around 5-5.25 Lacs.
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Old 10th July 2006, 15:21   #3
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Thanks for your comments iraghava. Yes it is NHC. Actually, Owner's initial offering was for 5.75 Lacs. Now, he is not coming down from 5.5 Lacs. He justify his price for the sleek stanley leather interiors, mp3 player and newly added alloy wheels. Is it worth buying for 5.5 Lacs with the additional accessories ?

Last edited by car_vj : 10th July 2006 at 15:22.
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Old 10th July 2006, 15:38   #4
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Quote:
Originally Posted by car_vj
Thanks for your comments iraghava. Yes it is NHC. Actually, Owner's initial offering was for 5.75 Lacs. Now, he is not coming down from 5.5 Lacs. He justify his price for the sleek stanley leather interiors, mp3 player and newly added alloy wheels. Is it worth buying for 5.5 Lacs with the additional accessories ?
Let me try to put another perspective here (maybe you have already considered it, but still ..)

How much is the OTR price of the new NHC ZX EXi in chennai ? I'm guessing it would be around 7.3 L, add 20 for stanley, 15 at most for MP3 setup, 15 for alloys. So at total of 7.8L.

Will you be taking a loan ? If so a used car loan for a 5.5 L car might be quite similar to a new car loan for 7.3L.
Do you really like the leather and the alloys and the stereo that are already there ? If not, in a new car, over time, you could add leather, audio and alloys of YOUR choice.

A 2004 car means the old shape. With a new car u get the ZX EXi which has improvements in some aspects over the old NHC EXi.
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Old 10th July 2006, 16:45   #5
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In chennai, OTR price of NHC ZX Exi is 7.6 Lacs. With added accessories the new one may come around 8.1 Lacs. Even if the differences in the interest rate are taken into account, there is huge difference in the EMI for a brand new & Pre-Owned one. So, there is no point in going for a new one.

For this 2004 NHC, I might take a Loan for 3 Lacs. I do like the interior & other accessories of this car much and will not change it in the near future.

My point is it worth buying for 5.5 Lac ? Is it worth paying extra 30K (my bidding price is 5.20 Lacs) for the additional accessories?
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Old 10th July 2006, 21:43   #6
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I wouldnt pay more than 4.75-5.0.

Whats the point in paying 5+ for the basic model?

If the car is in excellent condition, considering the upgrades-5.0 is a good price.

Last edited by devarshi84 : 10th July 2006 at 21:52.
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Old 11th July 2006, 00:08   #7
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The price should be around 5.25L.. but considering the accessories it's worth considering.
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Old 12th July 2006, 12:53   #8
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Guys..thanks for your comments. When I was verifiying the document, I have got this information. Please ( ) do give your thoughts on this.

This car was registered in Jan-2004 in Bangalore. Owner claims that it was registered under his name. I couldnt check the name of the previous owner as the original RC is under company's custody. In May-2004, it was re-registered in chennai under owner's company name. He said, its company's policy so that the car was re-registered under his company's name when he moved to chennai.

Car is in excellent condition (my mechanic verifies it) .

So, is it worth buying this car ? If it is worth buying, now what is the optimal price we can bid for ?
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Old 12th July 2006, 13:20   #9
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Since it is in good condition .. take it ..
but bargain on these factors.

# It is 2.5 yrs old .. allowing for 30% depreciation on 7.6 L = 5.32 L
# It may be the same owner using the car, but when you try to resell it'll be very difficult to prove it's not 3rd hand. So your resale value will drop.
# It is the old shape, so I would bargain for more depreciation.
# Accessories never get anything close to original value during resale

I too would not have paid more than 5.25 for it.

Try and cross check at used car dealers and Honda dealers (they sell pre-owned) for prices of 2004 EXi model.
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Old 12th July 2006, 20:20   #10
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Shuvc is right. I will stick to my suggestion of 4.8-5.0

Is a discontinued car with the old look and 2nd owner on RC.

But for a Honda city in good condition the value holds. Stick to 4.8 and buy for 5.0
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Old 10th March 2010, 19:31   #11
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Hi, I am in the market for a used car and have identified 2 Honda Citys - 2007 Jul city zx AT, 35000 kms - 6.5 lakhs (asking price) and 2007 august city zx gxi 20000 kms - 6.5 lakhs (asking price).

What is a good price I should pay for the car?

jayanth
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Old 11th March 2010, 10:11   #12
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For your reference - a 2005 Honda City Exi, done 37000 kms only in the city between residence to office and back - is valued at about 3.75 in the marketplace as of now. Tough to even push it to 4 lacs.
Hence, I would surmise that a 2007 Zxi is worth about 5.5 to 5.75 lacs.
You could pay a bit more for the AT version - say another 50grand max.
(Both these cars under consideration by you, are likely to be of the old shape, which has now been replaced by the ANHC, if Im right.)

No harm in negotiating a bit hard and meeting in the middle!
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Old 11th March 2010, 10:22   #13
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There is already a thread for checking prices of used cars. You might get a few more inputs here...
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