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-   -   Bored of new Ford Figo - Keep it or Sell It? (https://www.team-bhp.com/forum/hatchbacks/135403-bored-new-ford-figo-keep-sell-6.html)

One of my friend purchased a pre-owned 16 months old TDCI Figo, Titanium for Rs 4.6 Lakhs from a Maruti True-value dealership at Kochi.

The 1.2 and 1.4 are like the North and South Poles.
The car is the same, the engine makes all the difference. The TDCI is a tried and tested diesel engine which did duty on almost all Ford models here and since it is a diesel, hence the good re-sale value.
1.2 on the other hand is a car that many people never knew even existed, because the diesel Figo took the limelight.
Something like the Indica/Vista petrols.

Okie Folks.. Here is an update!!

My friend sold his car for 3.6 lacs to one of his acquaintances. He suffered a massive depreciation of around 2.25 lacs but he went with his heart over his mind.

I still feel bad for his decision but ultimately there is no point in retaining something you don't like. I dont know which car he is gonna buy but he can't buy one right away. May be a wait for few months will get him enough cash.

Not a very practical decision, of course. Rather, i think he should concentrate on reducing his financial burden before buying a new set of wheels now. Anyways, good for the buyer. He gets a sparingly used lovely little hatchback.

P.S: Agreed on the point where you said that there is no point in retaining something you dont like but ultimately, i hope your friend doesn't end up regretting the decision.

I had a casual quote from Honda, Ford and VW for my car Brio S(O)MT , June 2012 model.
The quote was 4.4lacs max. Wondered to see the depreciation.

Infact , quite understandably this is what is known as 1st year depreciation.

I assume the entire 3.6 lakhs went into closing the car loan.
So your friend has no car and is poorer by more than 2 lakhs.

Not sure but if he is a typical young IT chap he just lost 25% of his full year's salary.:eek:

It's even worst, as I said, it was a 100% financing on Ex-Showroom and he had to pay anathor 25k for closing the loan.

A bad decision by al standards.. I am not sure if he is at all repenting.

I know, it's horrible, I was offered 3.5 for a Sep 2011, Figo TDCi Titanium. I am in a similar dilemma. I want to sell it but not at that price. I will keep it till end of year and probably try to sell for 3.5 then.

It feels bad when I found out a friend got nearly 5 for a Aug 2011 Swift VDI done around 48K Km's.

Message to me is loud and clear, if you plan to move cars a lot, go with the market leaders. The resale prices alone are worth it.

+1 to that. Sometimes, herd mentality pays.

I have this case of a colleague from work. He bought a new Duster and sold off his 4 year old Swift VDI. Sold it for 4.4 Lakhs to a dealer in Bangalore.

My heart sunk when I came to know his purchase price. 5.5 lakhs in 2009.

Thats a depreciation of 1.1 lakh or 20% in 4 years. Which car in today's date can command such terrific figures?
It always pays to go with the market leaders. Of course it also helps that the cost of the newer models are way higher than the older ones, which automatically translate into higher resale value for the older cars.

Sigh, the principles of depreciation and resale!

Whatever has happened, has been done and it better to accept it and move forward. Moreso frankly if you ask me i still think it was right decision for him as seeing the car you never liked in first place every day parked is almost regular torture. Better been done away once than daily torture.

I hope your friend doesn't make the mistake twice. Already he bought one under peer pressure.

And next time frankly tell him to buy the car rather than taking sum of average decision.

I think he has made the right decision. If you dont love / like your car, you are unlikely to maintain it well. Plus the trouble of driving it everytime you take her out. Its not worth it. Both the car and the owner will suffer in due course of time.

There is not loss to a person than his loss for Passion.

You should suggest him to go for a used car for his next purchase, its an ideal way to minimize depreciation and enjoy lovely cars. I personally like to change my ride every 2 years and used cars have served the purpose pretty well (with its share of problems sometimes) :P

Does anyone have a list of average depreciation rates for various new cars? If there is already a thread on the topic, please direct me there.

A bad decision il have to say. Im sure he knew of the depreciation and the fact that he won't be able to buy a new car for sometime now. He should have atleast waited for the new car smell to go. Also, I'm not sure if he would have had lost significantly more if would have kept the car for another 6 months. His loss would have been from 2.5 to 3, but he would have had a car to get used to and maybe even like.

I think depreciation is like aging. It is something that keeps happening 24/7. We can either buy a car thinking about the resale and compromise on a lot stuff or get a car that the heart longs for and keep smiling as long as we have it. Not thinking of such stiff will enable people like us to be happy, healthy and smug :D