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Old 27th February 2006, 00:32   #31
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i agree with revtech, go for it mcl, if you are getting a baleno vxi(2005) for a price 5.65L, i think its a steal.

cheers
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Old 27th February 2006, 05:24   #32
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Quote:
Originally Posted by mclaren1885
Hey guys checked a nearly spanking new baleno today ..

Its a silver VXi , 2005 ... Just run 4300kms till date .. Owners selling the car as he upgrading .. The car is registered from baglakot numbered KA-29-XXXX .. Test drove the car and the car feels like a gem , and is scratchles , very well maintained .. Also showed it to psycho and his mech for approval .. Seems alright ..

So sat a had a chat with the owner and he quoted 6L to begin with and he came down to 5.8L .. I offered the agent with whom the car was for 5.5L on phone thinking it was a bangy car , but on noticing the bagalkot registration decided to quote 20k less .. But after knowing that the delivery of the car was taken at RNS.Motors bangalore and the car was ridden in bangy from day 1 i offered a final price of 5.5L and walked out .. Is it worth the money or should i pay arnd 5.65L and close the deal ??? Totally confused if im taking the right call on the price .. Need ur help ..

Bro i dont understand you.. i thought you wanted to buy a baleno for lesser price and then modify it.. also how much you wanna spend on it?? 5.65L then modification?? you must be out of your mind, seriously bro.. think about it..
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Old 27th February 2006, 11:52   #33
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Quote:
Originally Posted by Godfather
Bro i dont understand you.. i thought you wanted to buy a baleno for lesser price and then modify it.. also how much you wanna spend on it?? 5.65L then modification?? you must be out of your mind, seriously bro.. think about it..
Well im looking at the longer run .. The older cars wont have a better resale value ... More over the car i checked out now is in immaculate condition and at 5.5L i think its a steal having just run 4300 kms .. I dont mind paying the extra 1L or so hoping for a better resale value and also the factor that i dont have to worry about the condition of the car , it being run this less .. Atleast i will get to know the running record better than say a vehicle run for over 30k .. Once the vehicle is bought im looking at around 50-75k on mods apart from the NOS kit thats already lying at home .. And this is only stage 1 of the mods im planning up ... Hoping all does end well .. At the moment im stuck up at home and have postponed the deal for a couple of days , as dad met with an accident and has a broken leg .. So shuttling around from home to the hospital at the moment ..
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Old 27th February 2006, 12:24   #34
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Quote:
Originally Posted by mclaren1885
Well im looking at the longer run .. The older cars wont have a better resale value ...
Do modded cars hold their resale value as much as stock cars ?

Please do calculate the loan EMI's for a used car loan vs a new car loan

Last edited by shuvc : 27th February 2006 at 12:25.
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Old 27th February 2006, 12:26   #35
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shuvc, modded cars are brought to stock condition before sale.
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Old 27th February 2006, 18:30   #36
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Shuvc , here are the calculations .. Just let me know if im wrong .. The deal might be closed at 5.5L-5.65L at the most ..

As i would going in for the maximum loan i can get so that i can spend a few K's on the mods im looking at a finance of atleast 85-90% for an amount of 5.5L ..

1. 85% of 5.5L loan at 11% for 5 yrs , EMI = 10,164 ..
2. 90% of 5.5L loan at 11% for 5 yrs , EMI = 10762 ..


Well whereas for a new car , on the ex-showroom price of 5.86L , 90 % loan at 8% for 5 yrs , EMI = 10,685 .. Here the problem with the new car being i would have to shell out another 1L for the DP whereas for the 2nd hand car my DP would be considerably less ..

So now what do u guys have to say , which according to u is a better choice .. More over im planning to keep this car for about 2 yrs or at the most 3 yrs , so the decision to get a 05 model for better resale .. Also like nitrous pointed out , these cars are brought back to stock form before selling ..
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Old 27th February 2006, 18:39   #37
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Quote:
Originally Posted by mclaren1885

1. 85% of 5.5L loan at 11% for 5 yrs , EMI = 10,164 ..
2. 90% of 5.5L loan at 11% for 5 yrs , EMI = 10762 ..
..

are you getting finance on a used ar for 5 years?????
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Old 27th February 2006, 19:15   #38
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Quote:
Originally Posted by mclaren1885
At the moment im stuck up at home and have postponed the deal for a couple of days , as dad met with an accident and has a broken leg .. So shuttling around from home to the hospital at the moment ..
you got blodiee close to revvmaster's incident on that one. poor guy had to go for a wagon r just when he was all set for a spanking black baleno coz his dad had some back problem. hope you atleast make it to the baleno

manson.
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Old 27th February 2006, 19:26   #39
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Quote:
Originally Posted by adit1329
are you getting finance on a used ar for 5 years?????
Yes adit as its a 2005 car im entitled to a 6 year loan but i preferred a 5yr loan ... Bcoz the lesser the DP the more i can spend on the mods .. Thats why the choice for a 2nd hand car ..

Quote:
Originally Posted by manson
you got blodiee close to revvmaster's incident on that one. poor guy had to go for a wagon r just when he was all set for a spanking black baleno coz his dad had some back problem. hope you atleast make it to the baleno

manson.
Dont worry manson , dads not in that bad a shape anyway .. He is alright .. So unless the owner doesnt give it at 5.65L i see this deal happening in the next few days or maybe by another week at the most ..
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Old 27th February 2006, 19:27   #40
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Quote:
Originally Posted by mclaren1885
Shuvc , here are the calculations .. Just let me know if im wrong .. The deal might be closed at 5.5L-5.65L at the most ..

As i would going in for the maximum loan i can get so that i can spend a few K's on the mods im looking at a finance of atleast 85-90% for an amount of 5.5L ..

1. 85% of 5.5L loan at 11% for 5 yrs , EMI = 10,164 ..
2. 90% of 5.5L loan at 11% for 5 yrs , EMI = 10762 ..


Well whereas for a new car , on the ex-showroom price of 5.86L , 90 % loan at 8% for 5 yrs , EMI = 10,685 .. Here the problem with the new car being i would have to shell out another 1L for the DP whereas for the 2nd hand car my DP would be considerably less ..

So now what do u guys have to say , which according to u is a better choice .. More over im planning to keep this car for about 2 yrs or at the most 3 yrs , so the decision to get a 05 model for better resale .. Also like nitrous pointed out , these cars are brought back to stock form before selling ..
The few things that struck me and would be worth checking out :
Used car
Even if you get a loan for 5 years .. since it is a 2005 car, you just might .. would they give you 85 - 90% ?
Assuming they give you 85 % , your DP is 84,000.
True .. you are getting a VXi .. but without climate control and you will probably also change tyres/wheels. So not much use.

New car
For LXi .. you mentioned all told price being 6.8L .. deduct 60K discount offered to you .. use the discount to pay the insurance and road tax ... net OTR 6.2 L .. assuming you get 90% loan onex-showroom price (which you surely will) your DP is 1 L .. however .. on a loan of 5.2 L you can get a finance discount of 4% .. which is 20,800. So your DP is 80,000 !
MUL dealer here offered me 100% finance too .. but then it seems Kolkata dealers give more sops for Balenos than B'lore dealers
Try talking to more than one dealer, I'm sure DP can come below that figure.
* You'll surely pay less DP
* You could, if you want, get a 7 year loan covering OTR price from SBI
* You get a colour of your choice
* The resale will be better as car will be first hand

Gotta rush today .. but do ponder over these points and first things first .. talk to banks and get the rates first.
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Old 28th February 2006, 12:43   #41
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Shuvc , thanks a lot for the advise .. I shall be visiting the showroom sometime in the evening to see whats the best offer they can give me .. Right now mom and me are veering towards a new car itself .. Based on the talks with the RNS guys i will take a call on the new LXI or the old VXI .. Thanks guys , keep the suggestions coming ..
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Old 28th February 2006, 19:50   #42
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Thanks for all the advise guys .. I have already booked a brand new pearl silver LXI today .. Delivery will be made this saturday .. Mods pls close this thread .. The other details about the buying experience will be put up on a new thread ..

PS : Shuvc , i owe this one to u man .. Ur post certainly made me think twice ..
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