[nik0502]

Originally Posted by IshaanIan

If you are really keen on minimizing your expenses, look into an SX4 with a M16a motor preferable pre-facelift versions without VVT as they came with the best handling IMO. If mileage is a huge concern you can go in for the more recent versions with VVT. The SX4 will be cheaper to buy and cheaper to maintain.

+1 to Ishaan,

Rather than going for a Honda City you should go for SX4 if you are looking for reducing your EMI. you could get a much newer model as compared to SX4 for much lesser price. I had SX4 in 2012 and it's and amazing car to drive.

[procrastinator]

1. You will lose lot of money as your car is hardly old. In diesel avatar , Zest XT is competent itself.

2. Petrol + maintenance + used car loan higher interest rate will cost you more.

3. Though I am not an expert, why not try extending the loan term ? Or Refinancing the car with maximum term ?

[Rajeevraj]

I doubt the math will work. You plan to buy the used car also on finance and used car loans come at a higher interest rate than new car loans. Assuming that the loan on the Zest is on the higher side, the proceeds from the sale will be needed to close out the loan. Then you plan to take another more expensive loan to buy a used car. I feel your intent of reducing cost/emi will not be met.

In addition a petrol sedan will definitely give less mileage than a diesel zest which will push up your costs further.

[landcruiser123]

You may end up spending lesser on EMIs, but post 50k kms, there are a lot of part replacements. And petrol is more expensive than a diesel (for now.)

So stick with the Zest. Your EMIs maybe high, but the running and maintenance costs will be low. Buy an extended warranty.

[dark.knight]

I've kept your questions in the same order and shall answer each accordingly.

1. Does an odo reading of 50-60k selling for around <5 lacs qualify the "worth buying" tag for a Honda?

Honda City, specially the previous gen to the current gen is a nice car, I had no complaints test-driving it and the styling is neutral. Honda engines are reliable so a 50-60k run car should easily last as long as critical parts like clutch, tyres and belts are replaced when necessary.

2.What all points need a consideration while checking upon them? Any suggestions?

You mean checking the used car for its condition? First off the tyres need to be checked for condition, in a 50k run car the tyres shall either be brand new (just changed) or in a severely worn out condition (has to be changed by you). The other mechanical parts that will need inspection are clutch, belts, battery etc. The service centre can look into the history for you.

3. Is it worth the "upgrade" (or is it?), be it lateral, against my present drive?

Totally your call, all I can say is Honda City is a universal symbol for "I've arrived" in India. Much more snob appeal than a Zest. Rest depends on the resale value of the Zest which I assumed cost around the 7L mark.. if you can get the same value as the expected cost of the used City then there may not be much difference financially as the petrol outgo is a consideration too. As a car the City is better looking, spacious and better sorted.

4. How much for a periodic service from the Honda ASS?

Honda is quite expensive, it has one of the higher "labour" rates per hour for servicing. It should be priced on average Rs.7-8K per service for normal stuff (consumables, cleaning t.b, brakes etc). Additional niggles and replacements will be extra.

5. Parts availability?

No problem there, City has sold a lot in India. I don't think there should be a problem with sourcing parts. Do confirm with the City owners though.

6. The economy? Anything above 12kmpl for me is a blessing!

12 is doable, but it heavily depends on traffic conditions and style of driving. One can extract 12-13 easily from this 1.6 engine but the driving has to be done carefully and at all the right gears. Anything short of that and the mileage can dip to 10 in city conditions.

[y448]

Originally Posted by Rajeevraj

I doubt the math will work. You plan to buy the used car also on finance and used car loans come at a higher interest rate than new car loans. Assuming that the loan on the Zest is on the higher side, the proceeds from the sale will be needed to close out the loan. Then you plan to take another more expensive loan to buy a used car. I feel your intent of reducing cost/emi will not be met.

In addition a petrol sedan will definitely give less mileage than a diesel zest which will push up your costs further.

Completely agree with Rajeevraj, if your objective is purely financial then selling your current car and getting a new one will not be a good option in the long term.

As others have already mentioned you will lose good amount on depreciation, then new used car finance plus additional fuel expenses (assuming you have decent running) over a period of time will not give any significant savings in my opinion. Please do the math for at least a 2 year period and see if you are getting the cost savings you are hopping for.

[SmartCat]

This is a bad idea as everybody says. Since you are suddenly finding EMIs to be high, I'm assuming that you have temporary cash flow problems. So the solution is to tackle the cash flow problem instead of selling Zest, taking depreciation hit, buying a pre-owned Honda City on finance, spending double the amount on fuel when compared to Zest and also living with the possibility of spending Rs. 10,000 to Rs. 30,000 on unexpected maintenance costs on a pre-owned Honda City.

1) Call up the bank from which you have taken a loan. Ask them to increase the tenure. If they do have such a facility where they can increase tenure from 3 to 7 years, your EMI will fall by 50%.

2) If your bank does not have such a facility, call up other banks and financial institutions (Sundaram Finance, Bajaj finance, M&M finance etc) and ask them if they have a facility to take over your existing car loan. They will close your loan and offer you a longer tenure, but for a slightly higher interest rate. But your EMIs will fall.

3) The above institutions might try to push personal loans at 18% pa. Do NOT go for this - it will make your cash flow problems worse.

4) If banks and financial institutions are unable to help, then sell of the Zest but go for a smaller pre-owned car like Maruti Wagon R from TrueValue. Go for this without taking the finance option.

5) After your cash flow problems improve, you can go back to a bigger car.

[zaheer5776]

My understanding of your situation is that by selling Zest and buying a pre owned sedan you are looking to get an Arbitrage. Which can be used to pay some EMIs.

I am in totally opposite situation. I am looking for a used Sedan with budget of 5 lakhs and the only new car I went to check was Zest Petrol and ended up being offered Zest Diesel 2014 with Rs 1.5 Lakhs Discount.

I guess you have done your math perfectly before arriving at your decision to sell the Zest. By that way I would ask to really look for SX4 as its really available very cheap in used car market depending on the year and the condition. The range could anything from Rs 2 Lakh to 5 Lakh.

My hunt for the used car took me to SX4 and Honda Cities but personally I don't like both of them that much. So I checked few petrol Skoda Rapids and Ventos with less than 40 K on Odo. And they are available in range of 3 Lakh to 4 Lakh. Everybody is opposed to the idea of buying a used Skoda but still I am open to it as petrol cars with manual version shouldn't be a problem if it has good service history.

[GTO]

Originally Posted by bullet_chacha

Currently driving a Tata Zest XT diesel and planning to sell it for no particular reason other than a huge EMI to be paid every month

Should have kept the Dzire buddy. I guess you had a 2012 model. IMHO, you sold that too early. Frequently changing cars costs a lot of money.

Don't sell the Zest. Because it's a flop model, you'll lose a lot of money. Would suggest keeping it. In case the EMIs are too difficult to meet, only then let her go. But for heaven's sake, don't buy a Honda City! It'll cost big money in EMIs, petrol bills & maintenance. If at all you should replace the Zest, it should be with a small + cheap hatchback.

[hybridpetrol]

Originally Posted by bullet_chacha

I'm planning to buy a used Honda City ivtec here in Delhi. Currently driving a Tata Zest XT diesel and planning to sell it for no particular reason other than a huge EMI to be paid every month

From what I read, I think you just got bored with your car, and hence with your EMI - so you want to change to something else.
It happens to every car owner when they see newer stylish cars with more features in the market. It also happens when there are complaints like missing features, low mileage, not big enough, not pretty enough etc.
So, just go with it as these are not valid enough reasons to change cars (unless you are super rich, and can take depreciation hits back to back with a laugh). So continue driving Zest for 4-5 years at least.
If you are finding the EMIs bothering (and not the car), and see the situation improving in a few months time, just manage somehow and continue driving Zest XT Diesel as it is an amazing car. You can come out of the troubles soon and enjoy the car.
If you are finding yourself in a bottomless pit, with huge money issues, of course, sell off the Zest to fix things. But this should be a hopeless situation when you cannot afford to buy another car in an year (let alone Honda City iVtec!).

In my opinion - Keep your Zest!

Note: The above ideas are just based on financials and you are the best person to decide what to do here, balancing your reading in car-crazyness meter and the bank balance

[nvldvr]

Hi,

I have a 2009 Mahindra Scorpio SLE. The car has done 99000 kms and is in a great condition. I originally planned to keep the vehicle with me for 12-15 years and have maintained the car accordingly. The car has no issues whatsoever.

However, the car does not have airbags. Most of my driving is on highways. With a 3 year old son, wife and parents in tow most of the time, I have been thinking of selling it off only from the safety point of view. A few ads that I have put up are soliciting offers of close to 5 lakhs.

I intend buying a spacious used sedan with air bags. Have narrowed down my choices to used corolla altis. Have to test drive a few cars before i decide on diesel v/s petrol.

2009-2010 altis variants with 50-70 kms on the odo are available in the range of 5-6 lakh rupees. Haven't checked prices in Toyota U trust dealerships.

So effectively, with a lakh or so Rs shelled, I should have an Altis with airbags, 60000 kms run, with me instead of the 99000 km run scorpio with no airbags.

Does it sound like a good deal?

Advice and suggestions please.

Regards.

[vigsom]

Originally Posted by nvldvr

Have narrowed down my choices to used corolla altis. Have to test drive a few cars before i decide on diesel v/s pet

Good choice given that you run approx 14000 a year .
The 1ZZ-FE engine can go on and on and on plus components (except brake pads) last really long.

The body is also corrosion resistant so that is also a huge plus.

Since you have driven a Scorpio all these years , I am not sure if a low seating sedan will help.

One more suggestion - why don't you look at an Innova V of 2009 vintage ?You will end up spending 3L more but it will be a lateral upgrade combo with safety features,comfort and strong resale.

[Dry Ice]

Related to the lateral upgrades, how does the insurance works out when buying a used car?

While selling, one can get the insurance converted to third party and get a NCB certificate. Can this certificate be used to renew the insurance on the 'new' old car one is buying?

[vigsom]

^^ I cannot say a firm YES but have known this to happen with a friend.

He transferred the ncb on his pre owned Camry to another pre-owned Accord that he bought recently.

[KK_HakunaMatata]

Originally Posted by nvldvr

I intend buying a spacious used sedan with air bags. Have narrowed down my choices to used corolla altis. Have to test drive a few cars before i decide on diesel v/s petrol.

2009-2010 altis variants with 50-70 kms on the odo are available in the range of 5-6 lakh rupees. Haven't checked prices in Toyota U trust dealerships.

Does it sound like a good deal?

Advice and suggestions please.

Regards.

If you intend to go for a pre owned D1 segment cars, you have 3 options coming at a very good price.

One, Altis, you have already mentioned. I own a preowned Corolla and trust me you can't go wrong with this choice, if you are able to find a well maintained vehicle. I can say Toyota has one a the best service across manufacturers with average service costs. But, Altis will not be fun to drive.

Second is Civic. I have heard it has a very good handling and fun to drive vehicles and you would get a 2010 Civic at around 6.

Third is Renault Fluence. I know, the vehicle is not manufactured anymore but the engine is very good and have heard very good reviews of the car. It has acres of space compared to other two and you can get a diesel vehicle at 6 lakhs. Even now, sometimes I keep checking on the resale prices and wish to buy one, if my finances permit.