I am in dilemma even after buying a car! Should i switch over to a diesel?

gaddiwale · 23rd August 2009, 17:46

@Sabsubs, before taking any decision please think twice -

1. According to carware your i10's resale value is around - 3,93,000/- (good condition).
2. Cost of i20 (Magna) - 6,50,000, Ritz Vdi - 5,16,000/-, Fiat GP Dynamic - 5,33,000/- (ex showroom Mumbai). Approximately you have to add another 50,000 for insurance + registration.
3. Hope you are now getting 14 kmpl from your i10, and you'll get around 17 kmpl from the diesel car and your avg. running is around 2000 km/month and the petrol and diesel perices are Rs. 48 and Rs. 35 per lit.
4. With your i10 the monthly running cost is Rs. 7000/- where as if you buy any of these diesel car you have to shell out Rs. 5,66,000 - 7,00,000/-. that means you require another extra Rs. 1,73,000 - 3,07,000/-. With diesel you'll be saving around Rs. 2800 per month. To recover the extra money you need to run the diesel car for 61-109 months i.e., 5-9 years!!
All the hassel for existing loan transfer and a new loan application are extra.
The i10 Kappa Magna's ex showroom price at Bangalore Rs. 3,96,000 (metallic) is do you think anybody will buy a second hand car in the price you'll ask for a 4 months old car?
My suggestion i10 is a nice car, take out most of it and enjoy your ride in i10 for a couple of years and then buy the best diesel car available that time in the market. All the best.

lohithrao · 23rd August 2009, 18:45

Absolutely agree with "gaddiwale"

i think it makes to go for a "Diesel" in the scenario where you have a budget , say its 7lacs. so if you pick a diesel it would work better instead of picking a petrol for the same price...

In your case it makes sense to stick to the same car , might be after couple of years go for a big car/suv

Thad E Ginathom · 23rd August 2009, 19:11

You have to take the depreciation hot on the car; you have to pay 5% foreclosure penalty on the loan... I'm not very mathematical, but I really think you should keep that car, for at least one year.

MileCruncher · 23rd August 2009, 19:24

Quote:

Originally Posted by gaddiwale

@Sabsubs, before taking any decision please think twice -

1. According to carware your i10's resale value is around - 3,93,000/- (good condition).
2. Cost of i20 (Magna) - 6,50,000, Ritz Vdi - 5,16,000/-, Fiat GP Dynamic - 5,33,000/- (ex showroom Mumbai). Approximately you have to add another 50,000 for insurance + registration.
3. Hope you are now getting 14 kmpl from your i10, and you'll get around 17 kmpl from the diesel car and your avg. running is around 2000 km/month and the petrol and diesel perices are Rs. 48 and Rs. 35 per lit.
4. With your i10 the monthly running cost is Rs. 7000/- where as if you buy any of these diesel car you have to shell out Rs. 5,66,000 - 7,00,000/-. that means you require another extra Rs. 1,73,000 - 3,07,000/-. With diesel you'll be saving around Rs. 2800 per month. To recover the extra money you need to run the diesel car for 61-109 months i.e., 5-9 years!!
All the hassel for existing loan transfer and a new loan application are extra.
The i10 Kappa Magna's ex showroom price at Bangalore Rs. 3,96,000 (metallic) is do you think anybody will buy a second hand car in the price you'll ask for a 4 months old car?
My suggestion i10 is a nice car, take out most of it and enjoy your ride in i10 for a couple of years and then buy the best diesel car available that time in the market. All the best.

+1 To the above.

Selling a 4 month old car is sure financial suicide. As already told by others enjoy the i10for 3 years by which time you would have recovered some money. Then move onto your next car.

aaggoswami · 23rd August 2009, 19:44

If you are able to get CNG ( i.e. number of fuel stations ), then put in money for CNG kit. This will help a lot. We did this in our M800 ( Nov 1992 ) and the car recently completed around 40K kms on CNG.
This is the best solution that I would consider.
However, we are able to do this because we have another car, Baleno, with us. Highway = Baleno, city = M800 with CNG.
I today did a 400 kms. drive in Baleno and can tell you the cost is quite high ( running cost/km ). Hence this is reserved for highway only. CNG makes it quite cheap to run a car, and small car is more efficieint than larger car, so installing CNG kit will cost you around Rs. 40K, but its worth it.

What other thing you can do is, sell off this car and buy a second hand diesel car, but consider this as a last resort.

rageshgr · 23rd August 2009, 20:13

You will loose a fair amount in depreciation, but what about buying a used- car with the money u got from selling from i10?

+That will make sure, you don't any extra money from you pocket for the car purchase
+ Your monthly fuel bills will start coming down immediatelty

- You are selling a new car and buying an old one. All the euphoria is lost
- Reliability issues with the used-car

travelex · 23rd August 2009, 20:37

Agree with gaddiwale.
Buying a new diesel hatch afters selling off just a 4 month old i10 would not be a profitable venture to my mind.
If saving money is the only motive behind going through the whole exercise, I think you will be better served not going through instead.

Thad E Ginathom · 23rd August 2009, 20:49

Is this cost thing a really big issue? Is it big enough to give up a lovely new i10, and drive an older car instead?

I'd keep onto that euphoria (as rageshgr puts it). That the choice of car might not have been the best financial calculation is, perhaps, a mistake you can live with?

sabsubs · 23rd August 2009, 21:05

Hi All

Thanks a lot on suggesting different options. Cost isn't an issue at all. I am of the view that, on the longer run, diesel engines would be more profitable than petrol. On top of this my innate feel is that, if I had waited for 2 or 3 months then I would have had the option of i20 crdi & Punto or for that matter Ritz diesel.

I will never sell my i10 for a second hand diesel car. This option is totally ruled out. I would rather pay 6k per month and drive my i10 than buying a second hand diesel. I always prefer buying new cars/bikes since we can enjoy the complete features of vehicle for the initial 3 to 4 years after which the vehicle starts wearing out.

rageshgr · 23rd August 2009, 21:09

So what have u decided? Gonna buy swap i10 for a new diesel is it? Cool, but just be sure you are going to keep the diesel car long enough for you to reap the long run benefit.

gods-envy · 23rd August 2009, 21:17

I would suggest like everyone else to keep the i10.
See on your highway runs (which is your predominant run), the mileage difference could be about 4-5kmpl in comparison to a diesel.

But then again, look at the amount of money extra that you would need to pump in just get the savings on a diesel.

I think the 1.2 i10 is a great car and my 2 paise would be to keep the car for a few more years i.e. 2 year, till you repay your 1.7L loan and then either sell it off or keep it as a second car.

devarshi84 · 23rd August 2009, 22:35

as I said before, why dont you convert it to LPG/CNG based on what's easily available?

loving_alaap · 24th August 2009, 00:24

One interesting suggestion.

Selling an i10 for a diesel hatch is not a good deal.

But selling an i10 for a superb sedan (Linea), will give you the same 1.3MJD and with a sedan status.

You can satisfy your heart by saying that, you have upgraded to sedan.

Thing about it.

Or else, IMO, its better to hurt once (buying a diesel car with premium) rahter than to hurt continuosly (the ever increasing petrol cost).

sushanthr77 · 24th August 2009, 01:57

@sabsubs:

It is clear from your posts that you are not looking to sell your i10 to buy a car with better space / driving characteristics / VFM etc. You prime concern seems to be the cost of Petrol.

The car mentioned by you (i20, Punto etc) probably are in the next segment to i10. So overall they are better cars than the i10 in most aspects.

If you seriously think that you need an upgrade and a change in fuel type, then you must go for it. Forget the math and go for with your heart. You are not going to make to make a major loss here. If you think you've made a mistake by not waiting for additional 3-4 months to check the new cars (as mentioned by), now you get a chance to correct yourself! (for a small loss of course :-))

You'll have a better car that is cheaper to run. Who knows, maybe you'll see a surge in your monthly travel ;-)

funkydude · 24th August 2009, 10:11

sabsubs!! I would rather suggest you to get a CNG kit fitted on to your i10. Drive it for about 2years and recover the cost of the kit. Then sell of the i10 and go for a Diesel one. (This is what I did with my Alto).

Second option would be to retain the i10 and go in for a Diesel one. Coz selling off an year old car would give a good hit on your finances.

23rd August 2009, 17:46	#16
gaddiwale BHPian Join Date: Nov 2008 Location: BANGALORE Posts: 399 Thanked: 77 Times	@Sabsubs, before taking any decision please think twice - 1. According to carware your i10's resale value is around - 3,93,000/- (good condition). 2. Cost of i20 (Magna) - 6,50,000, Ritz Vdi - 5,16,000/-, Fiat GP Dynamic - 5,33,000/- (ex showroom Mumbai). Approximately you have to add another 50,000 for insurance + registration. 3. Hope you are now getting 14 kmpl from your i10, and you'll get around 17 kmpl from the diesel car and your avg. running is around 2000 km/month and the petrol and diesel perices are Rs. 48 and Rs. 35 per lit. 4. With your i10 the monthly running cost is Rs. 7000/- where as if you buy any of these diesel car you have to shell out Rs. 5,66,000 - 7,00,000/-. that means you require another extra Rs. 1,73,000 - 3,07,000/-. With diesel you'll be saving around Rs. 2800 per month. To recover the extra money you need to run the diesel car for 61-109 months i.e., 5-9 years!! All the hassel for existing loan transfer and a new loan application are extra. The i10 Kappa Magna's ex showroom price at Bangalore Rs. 3,96,000 (metallic) is do you think anybody will buy a second hand car in the price you'll ask for a 4 months old car? My suggestion i10 is a nice car, take out most of it and enjoy your ride in i10 for a couple of years and then buy the best diesel car available that time in the market. All the best. Last edited by gaddiwale : 23rd August 2009 at 17:48.
	() Thanks

23rd August 2009, 18:45	#17
lohithrao Senior - BHPian Join Date: Feb 2007 Location: Kudla/Mangaluru Posts: 3,204 Thanked: 225 Times View My Garage	Absolutely agree with "gaddiwale" i think it makes to go for a "Diesel" in the scenario where you have a budget , say its 7lacs. so if you pick a diesel it would work better instead of picking a petrol for the same price... In your case it makes sense to stick to the same car , might be after couple of years go for a big car/suv
	() Thanks

23rd August 2009, 19:11	#18
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,004 Thanked: 26,428 Times	You have to take the depreciation hot on the car; you have to pay 5% foreclosure penalty on the loan... I'm not very mathematical, but I really think you should keep that car, for at least one year.
	() Thanks

23rd August 2009, 19:44	#20
aaggoswami Senior - BHPian Join Date: May 2007 Location: Vadodara Posts: 4,982 Thanked: 2,931 Times	If you are able to get CNG ( i.e. number of fuel stations ), then put in money for CNG kit. This will help a lot. We did this in our M800 ( Nov 1992 ) and the car recently completed around 40K kms on CNG. This is the best solution that I would consider. However, we are able to do this because we have another car, Baleno, with us. Highway = Baleno, city = M800 with CNG. I today did a 400 kms. drive in Baleno and can tell you the cost is quite high ( running cost/km ). Hence this is reserved for highway only. CNG makes it quite cheap to run a car, and small car is more efficieint than larger car, so installing CNG kit will cost you around Rs. 40K, but its worth it. What other thing you can do is, sell off this car and buy a second hand diesel car, but consider this as a last resort.
	() Thanks

23rd August 2009, 20:13	#21
rageshgr BHPian Join Date: Jun 2008 Location: Chennai/Vaikom Posts: 549 Thanked: 551 Times View My Garage	You will loose a fair amount in depreciation, but what about buying a used- car with the money u got from selling from i10? +That will make sure, you don't any extra money from you pocket for the car purchase + Your monthly fuel bills will start coming down immediatelty - You are selling a new car and buying an old one. All the euphoria is lost - Reliability issues with the used-car
	() Thanks

23rd August 2009, 20:37	#22
travelex BHPian Join Date: Feb 2009 Location: New Delhi Posts: 131 Thanked: 101 Times	Agree with gaddiwale. Buying a new diesel hatch afters selling off just a 4 month old i10 would not be a profitable venture to my mind. If saving money is the only motive behind going through the whole exercise, I think you will be better served not going through instead.
	() Thanks

23rd August 2009, 20:49	#23
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,004 Thanked: 26,428 Times	Is this cost thing a really big issue? Is it big enough to give up a lovely new i10, and drive an older car instead? I'd keep onto that euphoria (as rageshgr puts it). That the choice of car might not have been the best financial calculation is, perhaps, a mistake you can live with?
	() Thanks

23rd August 2009, 21:05	#24
sabsubs BHPian Join Date: Jul 2009 Location: Bangalore Posts: 324 Thanked: 322 Times	Hi All Thanks a lot on suggesting different options. Cost isn't an issue at all. I am of the view that, on the longer run, diesel engines would be more profitable than petrol. On top of this my innate feel is that, if I had waited for 2 or 3 months then I would have had the option of i20 crdi & Punto or for that matter Ritz diesel. I will never sell my i10 for a second hand diesel car. This option is totally ruled out. I would rather pay 6k per month and drive my i10 than buying a second hand diesel. I always prefer buying new cars/bikes since we can enjoy the complete features of vehicle for the initial 3 to 4 years after which the vehicle starts wearing out.
	() Thanks

23rd August 2009, 21:09	#25
rageshgr BHPian Join Date: Jun 2008 Location: Chennai/Vaikom Posts: 549 Thanked: 551 Times View My Garage	So what have u decided? Gonna buy swap i10 for a new diesel is it? Cool, but just be sure you are going to keep the diesel car long enough for you to reap the long run benefit.
	() Thanks

23rd August 2009, 21:17	#26
gods-envy BHPian Join Date: Nov 2007 Location: Bangalore Posts: 474 Thanked: 38 Times View My Garage	I would suggest like everyone else to keep the i10. See on your highway runs (which is your predominant run), the mileage difference could be about 4-5kmpl in comparison to a diesel. But then again, look at the amount of money extra that you would need to pump in just get the savings on a diesel. I think the 1.2 i10 is a great car and my 2 paise would be to keep the car for a few more years i.e. 2 year, till you repay your 1.7L loan and then either sell it off or keep it as a second car.
	() Thanks

23rd August 2009, 22:35	#27
devarshi84 Senior - BHPian Join Date: Jun 2005 Location: Ahmedabad - Tor Posts: 4,024 Thanked: 211 Times View My Garage	as I said before, why dont you convert it to LPG/CNG based on what's easily available?
	() Thanks

24th August 2009, 00:24	#28
loving_alaap BHPian Join Date: Sep 2007 Location: Ahmedabad Posts: 808 Thanked: 9 Times	One interesting suggestion. Selling an i10 for a diesel hatch is not a good deal. But selling an i10 for a superb sedan (Linea), will give you the same 1.3MJD and with a sedan status. You can satisfy your heart by saying that, you have upgraded to sedan. Thing about it. Or else, IMO, its better to hurt once (buying a diesel car with premium) rahter than to hurt continuosly (the ever increasing petrol cost).
	() Thanks

24th August 2009, 01:57	#29
sushanthr77 BHPian Join Date: Jan 2007 Location: Mangalore / DXB Posts: 280 Thanked: 5 Times View My Garage	@sabsubs: It is clear from your posts that you are not looking to sell your i10 to buy a car with better space / driving characteristics / VFM etc. You prime concern seems to be the cost of Petrol. The car mentioned by you (i20, Punto etc) probably are in the next segment to i10. So overall they are better cars than the i10 in most aspects. If you seriously think that you need an upgrade and a change in fuel type, then you must go for it. Forget the math and go for with your heart. You are not going to make to make a major loss here. If you think you've made a mistake by not waiting for additional 3-4 months to check the new cars (as mentioned by), now you get a chance to correct yourself! (for a small loss of course :-)) You'll have a better car that is cheaper to run. Who knows, maybe you'll see a surge in your monthly travel ;-)
	() Thanks

24th August 2009, 10:11	#30
funkydude BHPian Join Date: Aug 2009 Location: Noida Posts: 110 Thanked: 54 Times	sabsubs!! I would rather suggest you to get a CNG kit fitted on to your i10. Drive it for about 2years and recover the cost of the kit. Then sell of the i10 and go for a Diesel one. (This is what I did with my Alto). Second option would be to retain the i10 and go in for a Diesel one. Coz selling off an year old car would give a good hit on your finances.
	() Thanks