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Old 26th October 2008, 07:19   #1
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Default Hyundai Elantra CRDi, to keep or to sell

Guys,

Fisrt of all sorry for the long post.

Background: I recently bought a second hand Hyundai Elantra CRDi. Th car is a June 2005 model and has done approx 84,000 kms. It is in a good condition. The interiors are all neat and clean and everything on the car works fine. The engine is smooth and the turbo kicks in well too. The body is also in a decent condition, few minor scratched here and there, other wise its neat. The front suspension needs replacement, otherwise the ride is smooth. I get a mileage of around 11 to 12 on highway and 8 to 10 in city, with AC always on. The car feels rock solid even at 140+ kmph. Overall I am very happy with the purchase.

I had taken a bank loan for purchasing the car. I am paying an EMI of around 8K per month for the same.

Problem: I am moving to a new job and that requires me to be away from India for at least 1 to 1.5 years. Now, would it be wise to keep the car at home or to sell it?

Solution1: Please let me know the pros and cons of keeping a used diesel car idle, jacked up, for over a year. How would the car be affected. How much would I end up spending to restore it? Would this whole thing be worth the effort. Or I could ask my dad to start and roll the car a little bit every wek or so. Which method would be better to ensure least damage.

Solution2: The other option is to sell the car. It has been transferred to my name, so now the next owner would be the third. What would be the kind of price that I can expect. Carwale says 5.85 lacs to 5.30 lacs.

When I am back after a year or so, I don't think I would still be in a position to buy a brand new D segment sedan, which I am now kind of hooked to. I really want to keep the car, but want to take a decision with my head rather than heart. bhpians advice will really help.

Last edited by basilmabraham : 26th October 2008 at 07:24. Reason: some more details added
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Old 26th October 2008, 09:36   #2
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There is absolutely no problem in keeping the car idle for 1 year as long as you can get the car started and run a few kms every week.

Another point of view is 3 years and 84k is a lot of running and keeping the car unused will be a blow of depreciation of the asset without use. So you decide if you plan to keep the car for 3+ years and only then it makes sense to allowing it to idle for 1 year.
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Old 26th October 2008, 11:00   #3
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As mobikeh s out it, it would be fine if your father rolls out the car for a few kms (5~10) every week it will keep the battery in condition and the engine will also be in shape including the tyres and other parts. You can adopt this if you like this car too much and does not want to let off this...

On the other hand, if yoru dad is not in a position to roll out the car every week, you can consider the part of selling it. It has laready run 84K, is 3 years old and you being a 2nd owner, selling it would be defnately will be advantageous at this point of time. By the time you return, it would be more depreciated and the value you may get will be much less.

Take your pick...
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Old 26th October 2008, 11:14   #4
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Sell and invest the money in something that will either appreciate or give you some return.

My 2 paise!
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Old 26th October 2008, 12:14   #5
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Depends on whether you have folks here who can drive it around once in a while, and maintain it.

If it is going to be too infrequently run, battery, tyres wouldn't be in a great shape and you might have to shell out some money - considering that it's not a new car. I guess you can sell off, invest in stocks now (can only go up! ) and come back... you would definitely find some old version Corollas in good condition under 6L. My 2 pence!
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Old 26th October 2008, 13:28   #6
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Sell it for the best you can get.
Invest the money in something and/or finish the loan.
When you come back, buy a Corolla/Civic/Optra or another Elantra.
Who knows? You may even buy the same car for half of what it costs now.
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Old 26th October 2008, 18:21   #7
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Selling it right now and investing it should get you around 6 lakhs after 1 yr. After 1 yr, the same car would cost a lot less say 3-4 lakhs. So you make 1-2 lakhs.
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Old 26th October 2008, 18:43   #8
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This is a no brainer, sell it asap and put the money away, when you are back use that money to buy yourself another car, a used Elantra if need be. And who knows what your choices and budget will be 2 years down the lines, things change fast.

The problem is you like the car and don't want to sell it and are searching for economic cum logical rationale to keep it, but there is none and you are just trying to convince yourself otherwise, you will sooner to later realise you are not being sensible. So just sell it, invest the money somewhere. You will be able to buy a used Elantra with the same money when you are back if you like the car so much, or perhaps something even better.
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Old 26th October 2008, 19:32   #9
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Just for your info, we sold an Elantra, fully loaded model, late 2005 model(10 lakhs OTR), about 80K Kms done, in excellent shape, with absolutely no work, good tyres and single owner, for 5.25 lakhs last week, after some difficulty.
I am sure that depreciation would be much more, very soon. My suggestion is to sell!

Last edited by jyobeb : 26th October 2008 at 19:38.
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Old 27th October 2008, 05:40   #10
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Thanks all for the suggestions... As @raul said, I am trying to convince myself to sell it... Soon will post the details in the TBhp market place..
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Old 27th October 2008, 10:02   #11
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Quote:
Originally Posted by basilmabraham View Post
Thanks all for the suggestions... As @raul said, I am trying to convince myself to sell it... Soon will post the details in the TBhp market place..
Thought you already met a prospective buyer.
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Old 8th December 2008, 18:04   #12
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Just reviving the thread to find a suitable price I can ask for my car. I am getting quotes of max 4 lakhs, which is way too less as far as I am concerned.

Could I push the price a little more, if I wait for the correct buyer. Would a price of around 5 to 5.25 be good enough?

Please let me know of any used car agents who would take the car and pay me the money and then sell it to some one else, rather than park and sale. Let me know of the best used car dealer in either Cochin or Trivnadrum.
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Old 12th December 2008, 17:56   #13
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I have driven the Elantra CRDi and find it a beautiful machine both inside out. Some might not quite appreciate the way it looks, but it somehow appeals to me. I'd rather keep this car which I have known and driven rather than selling it and settling for smaller hatch-turned-saloons like the Dezire/ Indigo etc (if I know I won't be in a position to afford a D-segment car after my return).

As far as maintenance of lesser used diesel vehicles is concerned, I have not experienced any such difficulty with my Jan 2001 Ford Ikon 1.8D which has clocked 1L kms from new in Oct 2008. The car is used sparingly, at times not started for days together but no issues on the maintenance front whatsoever.

So if you are happy with your Elantra, keep it. It is a fine, durable and capable car. Selling it during this recession will surely fetch you only peanuts for this brilliant machine.
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Old 12th December 2008, 21:18   #14
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Probably the single most under-rated car in India - pity about it but the advice right now would be to sell it. You dont know what the situation is going to be like in 2 years time - it is quite likely that you're able to afford a more modern car then and the resale after 2 years is going to be really bad.

You should be able to find the right buyer who is willing to pay a good price for it - people who know what this car is capable of wont stinge on it. Worst case scenario is that you can buy another Elantra at about half the price in 2 years time.

Really nice car, basil - you WILL find a good price for it. Just dont do a panic sale.
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Old 12th December 2008, 21:26   #15
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Quote:
Originally Posted by Steeroid View Post
Probably the single most under-rated car in India - pity about it but the advice right now would be to sell it. You dont know what the situation is going to be like in 2 years time - it is quite likely that you're able to afford a more modern car then and the resale after 2 years is going to be really bad.

You should be able to find the right buyer who is willing to pay a good price for it - people who know what this car is capable of wont stinge on it. Worst case scenario is that you can buy another Elantra at about half the price in 2 years time.

Really nice car, basil - you WILL find a good price for it. Just dont do a panic sale.
. Makes sense to sell it. Though I must say, its a wonderful car. If my baleno didn't come with all that emotional attachment, I wouldn't have minded trading it in for the Elantra right away.
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