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Old 8th February 2010, 14:01   #1
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Default NHC iDsi - take it or leave it?

Hi,
I own(?) a 2007 May NHC bought through my current employer. I am taking up a new job and hence have to buy back the car from my current employer. Rough estimate is about 5.5 lac that I have to pay back to get the car in my name. I am inclined to do that. My question is -

Is this a decent option? Should I a buy a new car with 5.5 ( I will get a hatch, though I preffer a sedan)?

Thanks,

P.s. The on-road-price was 8 lac when I bought it

Last edited by cuttingcrew : 8th February 2010 at 14:03. Reason: Forget to add the original price
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Old 8th February 2010, 14:13   #2
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Hi,
I own(?) a 2007 May NHC bought through my current employer. I am taking up a new job and hence have to buy back the car from my current employer. Rough estimate is about 5.5 lac that I have to pay back to get the car in my name. I am inclined to do that. My question is -

Is this a decent option? Should I a buy a new car with 5.5 ( I will get a hatch, though I preffer a sedan)?

Thanks,

P.s. The on-road-price was 8 lac when I bought it
You would have already paid so much EMI for this car (no IT of course). How does it make sense to forego it?
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Old 8th February 2010, 14:31   #3
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At 5.5 if you get a NHC (You have knowledge about the car.), then its a great deal to keep the car with you. NHC is better then hatch any day. Go for it mate.
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Old 8th February 2010, 16:37   #4
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1) Basically you have to buy out the G2HC. This is a not a bad deal IMO, but definitely not good.

2) Consider your running, if you need a small diesel hatch, let this car go and get another small car with diesel heart.

The existing car that you will buy out from your company is May 2007, approximately 32 months old. 5.5 lakhs seems to be on the higher side for me, but since you know the car well and its more spacious than any car for Rs. 5.5 lakh you can buy brand new, stick to G3HC.

Only if you need diesel, change the car, else use G2HC for a few more years.
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Old 8th February 2010, 16:59   #5
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Originally Posted by aaggoswami View Post
1) Basically you have to buy out the G2HC. This is a not a bad deal IMO, but definitely not good.

2) Consider your running, if you need a small diesel hatch, let this car go and get another small car with diesel heart.

The existing car that you will buy out from your company is May 2007, approximately 32 months old. 5.5 lakhs seems to be on the higher side for me, but since you know the car well and its more spacious than any car for Rs. 5.5 lakh you can buy brand new, stick to G3HC.

Only if you need diesel, change the car, else use G2HC for a few more years.
+1 here. AFAIK, there is no option of letting go the leased car as company does not accept it back.

It is mandatory that you need to clear the pending amount and transfer it in your name and then if you wish you can sell it.

Do correct me, if i am wrong here since i too own a car which is under company lease agreement.
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Old 8th February 2010, 17:13   #6
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The existing car that you will buy out from your company is May 2007, approximately 32 months old. 5.5 lakhs seems to be on the higher side for me, but since you know the car well and its more spacious than any car for Rs. 5.5 lakh you can buy brand new, stick to G3HC.
The "remaining amount to be paid" depends on the lease policy that he entered into with the company and the leasing company. Also add the IT on the perquisite value of the car as on today, the amount will go up.
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Old 9th February 2010, 02:07   #7
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Default Lease Transfer?

@cuttingcrew, just in case you feel 5.5L is on the higher side or are interested in buying a new car:
Check if anyone in your company is interested in taking over the lease and if so, transfer the lease to them. They can continue paying the monthly installments and also enjoy the tax benefits.
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Old 9th February 2010, 09:21   #8
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I have to pay back the remaining amount and all the related taxes before I can sell it. This will come to 5.5 L. My new company has agreed to pay the lion's share of this as interest free loan. So I guess I will keep this car atleast till I pay off this new loan. This makes bettrer businees sense to me (heart wants a new car, but will go with the head).

Thanks all for your suggestion.
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