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Old 7th May 2010, 09:22   #1
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Smile Buying a car after 10 months, maybe a nano, maybe not!

I need guidance from the members on this issue. I am a biker in heart, but increasing responsibilities and near prospects are pushing me towards buying a car. And it is not anytime soon, not even in this year. I will go for a car in next year Feb-March.

So why is the thread up so soon? Because of following reasons.

First, the requirements: The car is going to be driven mostly by my wife in city only. Hardly will we go on any real long tours, and certainly not out of state tours. We will be using the car for 4-5 years, before selling it / upgrading it.

My budget is very tight for this, about 1.5L or 2L Max. I have two choices here. Either go for a second hand car, or go for a new nano. But nano has a waiting for 8-10 months (info gathered on net, so could be very wrong!).

I am planning to book nano in a month or two, depending on the expected waiting period, so that the delivery date falls in Feb March 2011. Then, in Feb 2011, we can decide to either go for the Nano which will be ready for delivery, or some second hand car if we are getting a very good deal.

I assume we have to pay 70,000 for booking Nano. If at all we plan to buy a second hand car that time, can I sell the allotment letter for 8% interest, that is negating my interest loss? Is it feasible?

Lastly, this will be the first car in the family, with no driving history. What car will you suggest for the small budget of 1.5-2L? Nano or something else?

EDIT: Forgot to add the daily running. It will be in the range of 20-25kms in total, hardly exceeding 50km on working day. The weekend rides will be in range of 200-400 kms.

Last edited by ani_meher : 7th May 2010 at 09:24.
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Old 7th May 2010, 10:00   #2
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I would suggest you go for a second hand Alto. I am sure you can get a good condition Alto in that budget. I feel its a better Value for Money.....
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Old 7th May 2010, 10:15   #3
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I put myself in your shoes & think here
Quote:
First, the requirements: The car is going to be driven mostly by my wife in city only. Hardly will we go on any real long tours, and certainly not out of state tours. We will be using the car for 4-5 years, before selling it / upgrading it.
So this is a perfect city car & will be used for 5 years atleast

Quote:
My budget is very tight for this, about 1.5L or 2L Max. I have two choices here.
So definitely a small car

Quote:
Either go for a second hand car, or go for a new nano. But nano has a waiting for 8-10 months (info gathered on net, so could be very wrong!).
Why Nano? Why not new M800? Hoping Pune is affected, probably try getting it somewhere outskirts OR consider buying a 1 or 2 years used car.

Quote:
Feb March 2011
Sounds like a very long time; but keep aside about 6 months to hunt a good one & most importantly work on your finances & be prepared to pay anytime.

Quote:
I assume we have to pay 70,000 for booking Nano. If at all we plan to buy a second hand car that time, can I sell the allotment letter for 8% interest, that is negating my interest loss? Is it feasible?
I didn't understand quite well here. Are you saying, if you forgo the Nano you booked, you will get 8% or you will lose 8%? Anyday my opinion will favour to gain & not in losing even a paise.

Quote:
Lastly, this will be the first car in the family, with no driving history. What car will you suggest for the small budget of 1.5-2L? Nano or something else?
Considering this factor, I would strongly voice for Maruti or Hyundai due to their strong network dealership & cost of maintainence both put together. Tata could work even less, but we keep hearing all the horror stories from T.A.S.S.

Quote:
It will be in the range of 20-25kms in total, hardly exceeding 50km on working day. The weekend rides will be in range of 200-400 kms.
So sure for a petrol car.

To summarize, owning a Maruti or Tata or Hyundai will burn less on your pockets on maintenance. However if you look at your budget its about 2L, which means a new Nano or M800; however with a used car you can extend Alto, Santro or Indica in addition. However you're looking for long term ownership & considering the fact that you've little knowledge on cars (don't worry keep browsing TBHP until then you'll be on top gear by then), the car ownership should be a pleasure as well as less on maintenance. For which you can opt for a used car in the order of M800, Alto, Santro or Nano. Good Luck.

PS - Don't tell me you'll still tour on your GS150 even after buying the car

Last edited by aargee : 7th May 2010 at 10:16.
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Old 7th May 2010, 10:56   #4
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Quote:
Originally Posted by aargee View Post
I didn't understand quite well here. Are you saying, if you forgo the Nano you booked, you will get 8% or you will lose 8%? Anyday my opinion will favour to gain & not in losing even a paise.
Sorry for unclear question. My query is, if I forgo the alloted Nano, can I sell the allotment at 8% premium to any other buyer? I don't want to act like an agent who deals in black market, just a fair return for my invested 70,000. If this can happen, no one will lose, I will get my interest on 70,000 from the buyer, and the buyer too won't have to pay any black market premium, other than the 8% interest which he would anyway have lost had he booked the car himself.

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Originally Posted by aargee View Post
PS - Don't tell me you'll still tour on your GS150 even after buying the car
I wish to tour on my bike only! But not sure after getting used to the comfort of a car, how much can I fulfill the wish! Besides, if at all the family size increases, then my touring days on motorcycle are numbered.
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Old 7th May 2010, 11:25   #5
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What I meant in my previous post on
Quote:
Originally Posted by aargee View Post
Hoping Pune is affected, probably try getting it somewhere outskirts
was
Hope Pune is affected by the BS IV norms, you may not get M800 & you may want to go out of the city to get a new one.

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Originally Posted by ani_meher View Post
My query is, if I forgo the alloted Nano, can I sell the allotment at 8% premium to any other buyer?
I understood your intention now. I'm not sure on the 8% being paid towards you from a prospective buyer. But here's what I would think on the lines of Nano, M800/Alto & Santro

Nano pros - Price; meets a requirement of car; better than a two wheeler
Nano Cons - new product; poor A.S.S; maintanence cost unknown

M800/Alto/Santro Pros - Proven; good A.S.S in country;
M800/Alto/Santro Cons - Price; not new, but used car

Not that I dislike Nano, but just try giving sometime to see how it goes; remember the older Indicas vs the newer ones? Moreover, if you decide touring on the car, then you'll have ease of workshop access through Maruti network.

Once you decide upon the car, then you know whether to book for Nano or not. Once that is clear, you can go ahead or refrain from booking Nano. Also, how about finding a prospective buyer? Do you need to look for them or Tata does that for you? Also, what if people are willing to buy from grey market at lower interest rate?

Quote:
Originally Posted by ani_meher View Post
I wish to tour on my bike only! But not sure after getting used to the comfort of a car, how much can I fulfill the wish! Besides, if at all the family size increases, then my touring days on motorcycle are numbered.
Haha, touring days are being numbered on motorcycle - true. Once you're pampered with the luxury of a car, you're more likely to tour on a car. Just imagine about packing stuff in the saddles versus throwing things in the boot

Last edited by aargee : 7th May 2010 at 11:33.
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Old 7th May 2010, 11:29   #6
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Quote:
We will be using the car for 4-5 years, before selling it / upgrading it.
If you want to keep the car for next 5 years, buying a new car would make more sense. If you want to buy a used car then the car should not be more than 2 years old. Per carwale a 2-year-old alto LX will come just under 2L.

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Old 7th May 2010, 12:10   #7
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I would say buy a used Santro or WagonR.

Alto all said is still a small car with not a very powerful engine. And IMO it doesn't age too well (based entirely on my mom's car - 3.5 years 42k). I personally say Santro since its setup is more ergonomical for women (so I heard from colleagues). And personally I'm a bit biased towards Hyundai for being less cheapo than Maruti (compare i10/Santro plastics with Maruti's - its a notch lower).
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Old 7th May 2010, 13:35   #8
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Buy the Bajaj's small car.
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Old 8th May 2010, 13:18   #9
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Ani,

I think that the Nano is the perfect 1st car. Its new and you have a warranty, thus no hassles of repairs or dealing with mechanics. Next, its a wonderful li'l car to drive in the city. Very nippy and surprisingly peppy this side of 60 kph. I drive more powerful cars on a daily basis, yet always enjoy a spin in my best friend's yellow Nano.

It's small and the controls are light. A great car to learn driving on. Note that its strictly a city car (unlike a used Santro that can be used on the highway).

Quote:
Originally Posted by ani_meher View Post
But nano has a waiting for 8-10 months (info gathered on net, so could be very wrong!).
Production has been ramped up since Feb, and is increasing in capacity each month. Check with your dealer on the wait period for the desired version. I doubt the wait periods are 8 - 10 months anymore.
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Old 11th May 2010, 12:54   #10
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Thanks for the answers everyone. If the nano waiting period is dminishing, then I will wait till actual purchase instead of blocking my money into booking. Thus far, my choices seem to be

1. Nano
2. Used Santro
3. Maybe used alto/some other Maruti except 800 if it comes in my range
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