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Old 8th February 2010, 23:57   #31
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Default Mint condition 2003 Corolla - Need Advice

Here's the deal i have 3 cars at home but really need one more. I was considering buying an i20 or polo or maybe a figo diesel in 2-3 months time. But I came across a 2003 corolla automatic with only 6,000 kms clocked.
The thing is i don't usually like to buy 2nd hand cars but, this is a car that a friend of mine's cousin owns, and has never been driven because ,well he has many other cars and corolla was considered too small and lacked snob value compared to his other cars.
So to cut the long story short when my friend told me that his cousin was planning to sell the corolla i immediately showed interest.
The car is basically in mint condition, i mean even the plastic covering on the seat hasn't been removed and it's been serviced at an authorized Toyota workshop regularly.
The thing is i don't know what price to quote because i haven't come across an instance of a 6000 km run 2003 corolla and also i was hoping if i could get some advice whether to consider this or stick to buying a new hatch 2-3 months down the line.
I have to give him an offer within this week or i might lose out on the car..... so guys/gals what do ya'll think?
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Old 9th February 2010, 09:47   #32
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Considering the car was 12L on-road in 2003 then the current book value is 3.5L (approx) with 15% annual depreciation. People usually add 1L for a well maintained car. Add another 1L for the 6000KM part. I think 5.5L is a decent price that you can quote (cheaper than an i10 auto?)

Last edited by cuttingcrew : 9th February 2010 at 09:51.
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Old 9th February 2010, 10:22   #33
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5.5 Lakh ?? I would doubt that at the max you should pay 4.25 - 4.5 for the same considering it as a 7 Year old car. While hunting I found a sparkling 40K ODO H4 AT version wherein asking was 4.75. So I bet 4.25 - 4.5 will be a very good price for the same.
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Old 9th February 2010, 10:23   #34
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Esteem_lover as I said less then price of a fully loaded Hyundai i20..
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Old 9th February 2010, 10:28   #35
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Hi Ishaan,

Irrespective of how much its run a 2003 should not be more than 3.5-4L. Its well maintained and that's why you are buying it! Also beware of cars that have been parked for too long !
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Old 9th February 2010, 10:35   #36
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IMO 5.5 is way too much. 4 to 4.3 should be fine.
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Old 9th February 2010, 10:44   #37
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given your description of the vehicle and the fact that you know it and the person well, I suggest you give him an offer of 4.5 or so. 6000km run is truly a super blast even if it is a 7 year old car. if he is as well off as that and has so many cars, I dont think the money will really matter too much. For the price of a New Swift LXi you get a top condition Corolla. Why not?
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Old 9th February 2010, 11:13   #38
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Quote:
Originally Posted by Machdar View Post
Hi Ishaan,

Irrespective of how much its run a 2003 should not be more than 3.5-4L. Its well maintained and that's why you are buying it! Also beware of cars that have been parked for too long !
Hey what should i be looking into, as in what problems could a car develop that hasn't been driven much? Any thing in particular i should look out for
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Old 9th February 2010, 11:34   #39
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Congrats bro!!! great buy!!!
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Old 9th February 2010, 12:45   #40
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Hey Ishaan;
Irrespective of how anyone maintains a set of wheels; the best place for any car/bike is on the roads and not in a garage.
The Corolla is a stonker of a car; very reliable and should not disappoint you if its as good as you claim; but I would suggest you take the car to a Toyota service centre and run it through them with special emphasis on checking all electrical units.
The reason being; you can never be sure as to what might go wrong with a seldom run car. For example something as trivial as a squirrel/mouse running loose in the engine bay can play havoc. And if its in mumbai you have the rust and dust to contend with too.
As for the price; a more than 5 year old Corolla should not be more than 5 lakhs; irrespective of its condition.
Just my Two pence..

Last edited by nairanupg : 9th February 2010 at 12:53.
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Old 9th February 2010, 13:03   #41
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Because you know the car owner & you can get the service record as well. I suggest buy it even if you have to spen 50K extra for it. quote 4.5 L but even at 5L it is worth it.
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Old 9th February 2010, 13:04   #42
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For a change, the biggest concern you got to have is that the car does not have enough miles on it. Better get it checked thoroughly by a garage, especially the electricals.

Quote:
Originally Posted by ishaanranderia View Post
The car is basically in mint condition, i mean even the plastic covering on the seat hasn't been removed and it's been serviced at an authorized Toyota workshop regularly.
Do you have access to the service history? Wonder what type of regular service is being done by the owner.

Also remember that 2003 Corollas did not have ABS. They also have a (relatively) bad suspension setup, which Toyota bettered some time around sep 2005.
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Old 9th February 2010, 13:10   #43
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The car is good. Nothing goes wrong with a Toyota Corolla. Buy it.
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Old 9th February 2010, 13:31   #44
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Hi Ishan,

For any long idle cars just get them check for regular issues with rusts, wiring bitten off by rats, blockages in pipes, etc.

Any car/bike that does not move regularly ends up have many parts becoming stiff and hard including rubber so just check that and you will be fine.

Else it sounds like a good deal maybe post some pics to get a better idea??
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Old 10th February 2010, 03:06   #45
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Quote:
Originally Posted by shankar.balan View Post
if he is as well off as that and has so many cars, I dont think the money will really matter too much.
Dude you have no idea, people wont let go even a few extra thousands coming to them...

Quote:
Originally Posted by nairanupg View Post
Hey Ishaan;
Irrespective of how anyone maintains a set of wheels; the best place for any car/bike is on the roads and not in a garage.
Ok cool will get the car checked up before letting my heart take over

Quote:
Originally Posted by WhiteKnight View Post
For a change, the biggest concern you got to have is that the car does not have enough miles on it. Better get it checked thoroughly by a garage, especially the electricals.
Do you have access to the service history? Wonder what type of regular service is being done by the owner.
Also remember that 2003 Corollas did not have ABS. They also have a (relatively) bad suspension setup, which Toyota bettered some time around sep 2005.
Seriously? I wasn't aware of the ABS missing, i knew about the suspension but just how bad is it, like is it a deal breaker? The thing is the car is in Pune and i live in Mumbai and i have seen the car a couple of time but not thoroughly driven it.

Also taking all your advice and quoting 4l for it, you know , leaving some room for negotiation lol...
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