Re: ARTICLE: The Beauty of Lateral Upgrades (Getting MORE CAR for LESS $$$) Hi fellow BHPians,
Need to pick your brains. Recently my 2017 Vento TSI DSG which had run about 55k kms got affected in the floods in Bangalore and has been categorised as Scrap. Expecting Insurance payout for the same.
Also, i recently bought a Tata Punch for my wife. So there was no immediate plan to buy another car this soon. The plan was to keep the Vento for another 2 years atleast and then upgrade to an XUV700 etc. So in quite a fix as to what to do next.
Budget: Including the insurance payout, the fixed cash component would be about INR 5,00,000. Rest would need to be loan.
Premise: Looking at the roads in Bangalore (have just shifted here 5 months back after 18 years in Mumbai), i am not keen on sedans. Prefer Compact SUVs. I need a car that is readily available. So rules out all the SUVs from Hyundai, Kia and upcoming Toyota/Maruti.
Option 1: Buy a used Creta petrol automatic. Been looking at vehicles on spinny and other classified as well as one know car broker. These are some observations:
1. Cars from 2016-2018: These seem to be the original design. Getting cars with upwards of 75k kms for about 10-11 lacs, Cars less than 50k kms for about 12-13 lacs
2. Cars from 2018-2020: These are the cars before the current facelift. These are listed for about 14-15 lacs
Option 2: Buy a Taigun/Kusaq (Highline/Ambient variant) These are for about 18 lacs on-road. (Btw, my dad already owns a Taigun and is very Happy with it)
Thought:
1. If i am able to get a good Creta that has run below 50k kms for about 10 lacs, buy that. Have kept a 50-75k budget to spruce it up a bit.
2. If good cars are only available for about 13 lacs or so, then buy one a new car (Taigun/Kushaq).
3. This comes from the fact that loan interest rate for new car is about 7.5-8% with paying term upto 7 years whereas load interest rate for a used car is 12.5-13% with a paying term of upto 5 years. So the different in monthly EMI between a used 13 lac car and new 18 lac car is about 3,000 Rs a month.
Any suggestions would help. Especially on the risks on buying a second Creta. If there are any known long-term issues etc. |