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Old 11th September 2017, 13:22   #16
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Default Re: Low-balling by the dealer during exchange of your car

Originally Posted by PrasannaDhana View Post
Kindly share such incidents here
Interesting thread. I think it comes down to research, patience and negotiation.

When I exchanged my SX4 for a Dzire couple of years back, I had pitted 2 Maruti dealers against each other. This worked out quite well for me.

During the same time, I had also exchanged my i10 for a City. The Honda guys were not cooperative considering the new launch, but I found a direct buyer within my company. In this case, we decided to go together as sellers (with my existing car) and buyers (found a second hand dealer with a similar car). Once this was done, we struck a price somewhere midway.

Let's see now how the next round goes! Things have really changed in the last 3-4 years since I was in the market last.
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Old 13th September 2017, 10:32   #17
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Default Re: Low-balling by the dealer during exchange of your car

I exchanged my 2010 model 140000 km run Tata Manza quadrajet for a VW ameo at the dealership for 2.05 lakhs. I did not want to go the OLX route as I had a bad experience while selling my phone. The Next day I was browsing through OLX to figure if I got a good deal. To my biggest surprise I find my Manza listed for 3 lakhs and the km run specified as 70000!! Refurbishing the car and selling it for a profit is one thing but tampering with the ODO

The only peace of mind that I had was that while handing over the car I got a delivery note from them stating that they had purchased the car.
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Old 13th September 2017, 11:13   #18
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Default Re: Low-balling by the dealer during exchange of your car

Originally Posted by MCR View Post
My advice is to not sell a 5 year old car if it is trouble free! hold it till reaches 7 years of life or until you can find a 'friend' who is interested in buying.
My advice is never sell to your friends or relatives; relations get spoilt depending on how the car behaves in future
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Old 13th September 2017, 11:41   #19
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Default Re: Low-balling by the dealer during exchange of your car

Happens for bikes too!
I bought a Yamaha SZRR ( the slightly less glamourous commuter version of the FZ16) for my dad, who ended up not being able to use it because of some health issues. It was simply gathering dust, and figured i would trade it in for a scooter for wifey. Casually asked the same dealership where i bought it from, and pat came the reply - 40K. Bear in mind that the bike is not even a year old/has not even been run in. I asked them that i paid them 80K for the same not too recently, and their only excuse was that prices are like that only, take it or leave it.

Obviously I left it
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Old 13th September 2017, 11:50   #20
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Default Re: Low-balling by the dealer during exchange of your car

When you exchange your car, the dealer is being the middleman here, who evaluates your car, keeps it in a garage until he finds a buyer, and does a resale. They do this work for a commission. You also need to add the exchange bonus you are going to get for your new car if any.
If they take the car from you for a price what someone at Olx would pay you, then they can't really run this scheme as it would erode all their profits that they get from the new car sales.

Kindly get the idea behind exchange:
a) You exchange your car only to avoid the hassle of finding yourself a buyer, and dealing with paperwork on your own if any.
b) You exchange your car because you want the residue value on the old car to be transferred immediately into the new car, without waiting period.
These options are for people who rather do something else than bother with the hassles and a few thousand rupees advantage. As a BhPian on the other hand, the following can be done:
a) Select a car category and save money for down payment / full payment.
b) Test drive different cars in that category, and decide on one. If you are looking for a new car, and it has a long waiting period, book the car in advance.
c) Put up your car for sale on OLX etc. Find a buyer and sell it to the maximum possible value. After you get the sale done, keep the cash aside for additional payment for the car or put fixed deposits.
d) Until you get your new car, you can ride your two wheeler to work. When you get the information about your car's readiness make the full payment or maximum possible payment and get the difference done in EMIs.

Wish you happy purchasing!

Last edited by hybridpetrol : 13th September 2017 at 11:52.
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Old 13th September 2017, 11:53   #21
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Default Re: Low-balling by the dealer during exchange of your car

Dear PrasannaDhana, thanks for starting this interesting thread.

3 years back, around November 2014, I had accompanied my friend who wanted to buy Celerio and we went to a Maruti dealer in PCMC area.

The dealer quoted 60,000 for his 2012 March purchased Tata Nano LX (top end model that time). He was like . His mileage was only 33k+ that time and the car was very nicely maintained. His purchase price was 2,25,000 excluding accessories. One person at showroom was constantly bickering that Nano is 1 lakh rupee car only. I almost shouted on that guy telling him that this is not the 1 lakh rupee car, it's 2nd generation advanced version.

Disappointed with the dealer offer my friend waited for 1 whole year and sold for same price to same dealer, and got extra discount too on Celerio VXi AT. That's called patience .

My personal experience when I was selling our beloved Maruti 800 was even bitter. No dealer was quoting good price and friends wanted it for throwaway price.

OLX is a worst place. I had advertised to sell my old laptop charger and some guy wanted it for 350 instead of 500 rupees, which was my quote. When I said no, he started abusing me. Finally I had to tell him that I can trace him easily then he stopped.
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Old 13th September 2017, 12:02   #22
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Default Re: Low-balling by the dealer during exchange of your car

I had seen a Cars24 counter at a multiplex so just was curious to understand what price they will offer for my Sep 2014 Fiat Punto Evo 1.2 Active car.

They examined my car, took photos, did a test drive and put the details on their portal where apparently dealers from across India who are registered with cars24 can bid and offer the best price for my car.

They made me wait for almost an hour after uploading the detail saying few dealers have asked for the deadline to be extended. Finally when their bidding time was over i was offered 1.65L for a 2 year old car!

"Fiat saar, you get that much only!" Heck, i sold my Palio 1.3 MJD for 1.9L with 98K on the Odo and smoke coming from the engine before buying the punto!

Dealers definitely will low-ball you no matter what.
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Old 13th September 2017, 12:09   #23
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Default Re: Low-balling by the dealer during exchange of your car

While a dealer will definetly keep a small margin ( before they turn over the car to another dealer or buyer ), that "margin" will widen if the car being traded in is a slow mover. I have experienced this when I traded in my 2009 Vista for a Bolt in 2015. I tried selling the Vista directly but just couldn't get the kind of buyers I would want to interact with. Hence decided to trade it in.

I have had great experience selling my OHC, Storme, i10 and more recently the Bolt directly through online portals.

Hence one just needs to decide what is important ( you can pick any 2 at a time ! the 3rd one has to be compromised )
1. convenience
2. time in hand
3. price expected

and decide the best route. There are so many options to sell off once's car.
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Old 13th September 2017, 12:14   #24
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Default Re: Low-balling by the dealer during exchange of your car

Everyone who has ever sold one's car would have had these experiences. I had a similar experience when I tried to sell my 2012 45000 km run Honda Brio (SMT) to a Honda dealership in 2015. I was quoted 3.25 lac after the first assessment. However, the dealer insisted on having several more inspections and finally offered a price of 2.7 lac. The reason quoted by him was "Sir, some of the accident damage repair work was not done properly, so this car is very unsafe to drive. Even 2.7 lac is a lot."

At this point, I told him that he can check the service repair history and all work was done at the Honda workshop which is in the same facility as the showroom. He said that he cannot help, if the people did not do a good job 2 years back and that I should have checked. I asked him to give it to me in writing that he is quoting 2.7 lac because of "XYZ" reasons although he had quoted 3.25 lac after initial survey, which surprisingly he gave including places where the defects were. What he did not expect is that I would go and show it to the service manager and Customer Relations Manager in Pune threatening to sue them for improper work. My wife who is a lawyer told them that it was because of their lack to attention to detail and poor workmanship we had been driving an unsafe car. This spooked the entire dealership.

I got a call the following day from the sales executive who had given me the 2.7 lac quote stating that he had reviewed the quote and was now willing to offer the originally promised Rs. 3.25 lac and would consider giving Rs. 25000 cashback on insurance if I considered buying a new Honda car on exchange.

Since we were in any case considering a new diesel car, we ended up getting a diesel Jazz in exchange.

Sometimes, such mutual arm twisting is part of the entire process.

Last edited by feluda86 : 13th September 2017 at 12:15. Reason: Added missing details
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Old 13th September 2017, 12:46   #25
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Default Re: Low-balling by the dealer during exchange of your car

Dealers will always low ball else the economics of this wont work for them. What value does dealer get in taking the additional risk of an old car which may or may not sell eventually. He needs to stock it, maybe refurb a bit before getting sold with some short warranty . I am not favoring the dealer here but just trying to align some logic to low balling.

If seller is in a rush or doesnt want to take the pain of selling directly to a buyer then it makes sense. Reduced price is what you pay for the additional service. When i was selling my 11yr old Ikon which was in very good state, none of the dealers were ready to give me more than 65K for it. I eventually sold through Olx directly to a buyer for 1.25 lacs. My experience with Olx has been mixed. It gives lot of junk contacts and you need to filter genuine buyers from bogus ones.
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Old 13th September 2017, 12:47   #26
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Default Re: Low-balling by the dealer during exchange of your car

If one has a low-selling or a lesser popular car, I would suggest putting the ad on team-bhp classifieds itself. Chances of finding a buyer within the forum are more. Carwale being the next best alternative to find buyers with some ethics.

I would not suggest going through OLX/Quikr for selling a vehicle, unless it is an urgency in which case the contact number should never be shared, till we deduce that the buyer is chatting with some ethics. For those being spammed, AFAIK a complaint can be raised in OLX/Quikr to block the user.

Last edited by jetsetgo08 : 13th September 2017 at 12:48.
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Old 13th September 2017, 13:15   #27
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Default Re: Low-balling by the dealer during exchange of your car

My two cents on this - I recently sold my i20 to a UTrust guy from Bangalore. They quoted a decent price for the car. Mine was a 5 year old car in pretty good condition as per its age. The other dealers had quoted me 2.8~3.1 lacs for it, while I sold it to them for 3.85 lacs and that too without a whole lot of haggling.

The procurement guy had this to say, "Sir, we are not dealers who have to turn a profile by buying and selling 10 cars a month. We have a monthly turn around rate of around 100+ cars. Our margins are also pretty slim"
Now, I know for a fact that anyone will say anything to justify the price that they are quoting you, but given the difference that I saw in their quote vs the other dealers, I am actually quite impressed. If you guys have a U Trust in your neighborhood, do have a word with them before selling. The professionalism and fair price that they offer has been unmatched in my humble opinion. Although mileage may vary depending on the place and person.

I'd love to hear if anyone else has any feedback on U Trust in this thread.

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Old 13th September 2017, 13:36   #28
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Default Re: Low-balling by the dealer during exchange of your car

It's a self fulfilling prophecy unfortunately. If I were to start business as a dealer and intend to quote fair prices to sellers, the level of existing distrust is such that the buyers will think their cars are worth much more than what I'm quoting.

So I'll eventually end up quoting lower prices to ensure I can convert these transactions to deals.

And surprisingly, the online platforms haven't really helped to the extent we imagined they would. The existing levels of distrust in our society at large cannot be overcome I guess, no matter what means are deployed.
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Old 13th September 2017, 13:55   #29
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Default Re: Low-balling by the dealer during exchange of your car

Interesting thread, more so because I went through this experience just few months ago.

I had posted my 2010 Petrol Figo run half a lakh kms for sale from around March this year on Team-Bhp and OLx classifieds. I waited but didn't get any serious buyers. I did get one earlier to this, but then I hadn't fixed on buying a new car.

Finally when the Aspire Sports was launched I made up my mind and booked it and at the same time got my Figo evaluated from the Ford showroom where I had bought the car from as well.
I had got it evaluated a year back as well from the same showroom just to know the value and they had quoted around 2L and this time I got a quote of 1.85L. They had an exchange bonus of 20k as well.
I was disappointed to say the least since I knew my car was very well maintained . Being a petrol Ford, it had its is negatives namely , fuel efficiency. Anyway the new car had a waiting for 45 days by which I had to find a buyer outside. That never happened and finally I had no choice but to exchange since the new car arrived in 3 weeks.
I did negotiate with the dealer saying I bought the car from the same showroom and now I am booking the new one from there as well and got the quote upto 2L , which anyway was the lower value of the car , and 20k for the bonus.

It still didn't reach my expectation which was at least 2.5L. My reasoning was the car did not have any major dents or scratches, less than 10k kms run tyres, few months old battery. No damages on the inside . No service required for another 5k kms. In other words I would have kept the car if I had the option.

Finally fixed on the 2.2L with the bonus since the dealer wouldn't budge. Replaced all the aftermarket parts with stock. Left the Hella spot lights which I still kick myself for as well as the Red Rooster custom free flow exhaust.

I made peace with myself thinking I would get some amount back when I claim the NCB on the insurance and if at all I get to sell the stock exhaust system.

Now for the shocker. The car was put up for sale in as is condition on the dealers website for 2.8L! It was priced the same as a 2010 Figo diesel and a 2010 Fiesta 1.6 , both a trim higher than my car. That made me sad and happy at the same time. Sad that they made a killing with a car that I maintained and looked after like family and happy that it was worth that much for what it is.
It was pulled off the website a couple of weeks and sold off from what I checked with the RTO. I am sure they dealer would have made a cool 30k of it.

When I spoke to the showroom manager about this and how I wasn't very happy with the deal, he gave me the breakdown of their expenses in the deal and finally they would hardly make a profit selling it.
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Old 13th September 2017, 14:03   #30
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Default Re: Low-balling by the dealer during exchange of your car

Here’s my account of selling my Mahindra Xylo D4. This is a long post!

In July 2017, I decided to sell my Jan 2013 registered Mahindra Xylo D4 with 78000 kms in the odo. I had hoped to get at least Rs. 5.25 lacs for 4.6 year old vehicle single owner neatly maintained car regularly serviced in Mahindra A.S.S. with a few accessories like front & back bull bars, roof carrier, music system, reverse camera thrown in. With good hopes, I had listed in OLX, Quikr and a bunch car websites.

It took too long anxiety-filled months to sell my car at a much lesser price but the experience of selling was a real eye-opener in many ways.

For starters, I checked the OBV site for estimating the car value and listed accordingly. I timed the sale to take advantage of the reduced prices due to GST roll out and buy my dream vehicle Tata Hexa XTA which in pre-GST rates was ‘unaffordable’ to me.

So after obtaining the new quotes from Tata dealers in Bangalore and convinced the new prices are affordable, I listed my Xylo for sale. I was nave in hoping the sale would be over in less than a month if not more. But that was not to be.

Online Channels:
Quikr: I really don’t know what went wrong but to my surprise and dismay there were hardly any buyers who showed interest in this site.

All car sites: I received notifications of buyers interested but none serious. One online car site used to give me shocks periodically notifying the car’s quoted price will be automatically reduced by x amount by next week and if I wanted to retain the price I quoted, it wanted me to login. Grrr!

Truebil: They do a professional job in evaluating the car, checking the engine, interiors, etc after a test drive, taking extensive pics and post the details in their site at the price you want. But the response is poor!

OLX: The site by far the most active which got many ‘prospective’ buyers showing interest but almost all were low ballers. Buyers came in all types, all places – all were jokers in different outfits and intent.

I was clear that I wanted the transaction to be online with minimal cash dealing (just to stay out of trouble from Income Tax department).
However, most of the buyers were businessmen who wanted to do the entire transaction via cash!

1. There were guys who wanted to pick up the car for ridiculously low rates (less 50% of the quoted price) with the carrot of ‘spot’ cash. Thankfully, I didn’t pick up the spot cash bait.

2. There were some who sent chat messages offering incredibly low prices and when you receive almost similar offers from multiple people, you start wondering if it is a con game by a cartel.

3. There were some who chat / call you with genuine interest with assurance to visit you but on the decided date they don’t pick up the calls and act as if they never contacted you.

4. There were some who are on a high to pick up the well maintained and even haggle on the price over phone (to my satisfaction) and just as I was hopeful to close the deal will drop out saying they decided to put off the purchase for now. Time wasters!

5. There were a special variety of low ballers who tried to pull down the price by deliberately asking for features which are available in higher variants (the funny part is they rattle off the safety feature one after the other and ask you whether you have it or not – a type of verbal check box ticking) and making you feel as if you are selling a useless car. It’s a psychological cornering technique they use. There was another variant of this type. They ask the IDV value of insurance and count the number of years from the year of manufacture and try to pull down the price quoting your IDV and number of years. I don’t know what logic is this. Again time wasters!

6. There were few from far off places (few as distant as 500 kms away, I wondered why they are looking at far off Bangalore to buy) who enquire in detail about the vehicle with the promise to visit during the following weekend but never turned up. Time wasters!

7. Then there were some who sounded nice on phone in terms of the pricing, but after test drive offered low rates. Time wasters!!!

8. There was another species of buyers (you must be super wary of these types) who identify with your linguistic background, find commonalities & gloat over it, appeal to your sentiments – all with the single goal to get the vehicle dirt cheap. It’s like hitting it off to a great start but messing up in the end!

9. There are wannabe kids (college going ones) who are besotted with the car but didn’t have ready money to buy but are adept in buying time by saying “I’ll arrange money from my father in a week's time” but were never to be heard off again.

10. There are a whole bunch of car dealers who flatly deny they are one (I easily figured out from my phone thanks to Truecaller app) who try to low ball you. They quote other new model cars with better features are available at much lesser price.

The unnecessary spin off to these superfluous buyers is they want you to send as many pics as possible in WhatsApp. I only know how much time & effort I wasted in sending bunch of car pics with zero results in the end.

OLX abounds with low ballers who try to pull a fast one at you despite mentioning clearly in the ad that low ballers and brokers/dealers to excuse. The text has no effect on them.

Offline Channels:
Used Car Dealers: As my car sale took me nowhere, I was getting desperate (part due to consumed by new dream of booking the Hexa, the dealer was at the back of me scaring me with the bogey of imminent GST cess hike) and one Sunday morning literally went used-car showroom hopping in a 8 km radius. Almost all the dealers were unanimous in quoting low prices and make me look like a greedy guy out to make big money. They showed me better equipped variants with ABS, airbags, leather seats, etc but older models quoting 5 lacs and questioned how mine though it is a new model, lower variant would sell for almost 50% of what I wanted. Those were moments of self-doubts whether you are quoting unreasonable rates.

In my visits to the used car dealers, there were hardly any buyers on a Sunday and there were no takers for well maintained cars whatsoever the body type – hatchbacks, sedans, luxury SUVs. All were languishing. I left my number to these guys who assured to call me when they find buyers but the calls never came (not that I was awaiting but shows there’s no takers for second hand cars in general in a city like Bangalore).

Car Evaluators of Other Manufacturers:
There were some ‘professional car evaluators’ from used car arms of well known manufacturers (the word spreads fast and they are all networked) who come, inspect (surprising don’t test drive), pull out all the window beadings for accident checks, call someone in the dealership and offer ridiculous prices justifying such prices with the excuse that they need to refurbish, hold the car for a while, pay interest for the money they invest and then have profit margin to sell. I held myself from punching their face for wasting my time and the most demeaning part is the insult to my intelligence of the low prices they quote. Their prices made the OLX low ballers appear generous on comparison. I countered one guy if he’s the car owner would he be willing to sell at such prices and he sheepishly disagreed. Then what did these guys think of customers? Fools who would let go of the car at such low prices for the lure of same day online money transfer and smooth paper work?

Car Evaluators at Tata Showrooms:
The word spreads fast for sure among the dealers. The second dealer I took my vehicle upon hearing about the car (without even seeing) asked me whether this is the same car with Team BHP sticker!

These were no different from the used car dealers (I realized it in hindsight). The saving grace is they were at least upfront in saying that their quotes will be low due to the corporate nature of the purchase (they need to pay tax, refurbish, hold, profit margin, etc). But still it is a world of difference from the time – Dec 2012 I traded my 7.5 year old Scorpio Dx for Xylo D4. During that time, the dealer’s car valuator checked my Scorpio for accidents (pulled out the rubber beadings of windows), walk around inspection but no test drive and offered me a fair price and sweetened the deal with a very generous exchange bonus too! That experience seems like a dream today.

Surely, the marked has moved on from those days. Sadly, there’s no reasonable market for used cars in Bangalore.

Key Learnings:
1. One big thing I learnt out of my ordeal (not an experience) of selling my well maintained Mahindra Xylo D4 is there is no market for second-hand cars. Given the attractive pricing of new cars, choice of wide variety of cars with better features, safety equipment, brand name, etc, selling a lower variant MUV from an Indian manufacturer at a fair price (as quoted by OBV site) was well-nigh impossible.

2. Whatever accessories you have decked the car up will be of no value. So the learning here is don’t accessorize your car just for better resale value. Enjoy the accessories during your ownership but don’t expect any special returns due to them.

3. Most cars at the user car showrooms and online sites have unbelievably low mileage in the odo. To me, it appears that a MUV with the owner’s profile and vintage can never be run so low. I suspect most of them are tampered. As an owner of a MUV, use the car well. In the used car market, there is not much difference between a car sparingly used and well used (of course overly abused is a different case though).

4. I learnt that selling a car is a mind game which needs tact, patience (but too long will not help as the car depreciates faster with every passing month) and perseverance (don’t show your desperation). The trick is who blinks first will have to make the compromise.

5. Car sale must be effected without any time-sensitive needs/requirements.

Thanks to the frequent visits by prospective car buyers who preferred to come to my office tech park, my office security staff were aware of my attempt to sell my car. They were courteous enough to allow the car to be parked at the visitors parking for the engine bay inspection by prospects after the test drives.

Facebook to my rescue
Just when I was losing hope (despite going all out in listing in all popular online sites including Team BHP classifieds), my colleague suggested posting in various groups in Facebook. I never thought about them before. Thanks to him, he gave me a dozen sale-related group links and I spent almost 3 hours to have my car listed in them including requests to join, compose the text and upload pics). Low ballers are here too! The only issue is your FB friends come to know that you are selling your car…I mean all your friends present in the same sale groups get to know when you respond to the posts.

Finally, there was one genuine individual buyer (who got connected via one of the Facebook group ad) who visited my home with his whole family to check out the price and was genuinely happy to see the car in spotless condition and was appreciative of the maintenance. Felt good about it but the price offered was a little lower than my expectations.

With new models being launched (Jeep Compass debuted just around that time) the OBV site too started changing the prices downwards almost every week. I couldn’t believe that a car valuation can go south drastically in a matter of 7 weeks!

My friends advised me, in all good intent, to give away the car whatever price it fetches. Their reasoning was in the current market scenario flush with modern well equipped there is no takers for an used Xylo whatever its superior maintenance, or accessories it sports. The more you try the waiting game the car value will go lower. Just get rid of it for whatever rate and move on with the new purchase.

That was bitter pill to swallow. In my mind, Rs 5 lacs was a psychological threshold from which I wasn’t ready to budge. But ground reality dictated something else.

After almost a month of waiting it out (I was hoping to close at higher rates with whoever offered first in the meantime), the same party negotiated for a price lower than the 5-lac threshold and I reluctantly agreed (as time was running out for the proposed GST price correction, my dealer was scaring the daylights out of me every time he called). Things started moving pretty fast thereafter. I never thought when I woke up that last Sunday of August, in a matter of few hours my beloved Xylo would be gone. It happened fast one after the other – quick calls back & forth on the final price, online transfers (they had registered my account a few days back), confirmation from my end and in 45 mins they were at my place to take delivery of the car! All in a matter of less than 3 hours flat! Didn’t even have the time to give the car a wash or clear out personal belongings leisurely from the cabin.

Paperwork done, keys handed over, off went the Xylo out of my gate for the last time! All done & dusted. After that I had an empty feeling for at least a week….kind of withdrawal symptoms. Every time I go out I pick up the car keys from the key holder and my hands automatically raise up to pick the keys. So after the car was sold, it felt bad to find the keys missing when my hands automatically go up to pick the keys!

What next? Car parking space is freed up, down payment money in bank…off we went to the dealer to book the Tata Hexa XTA. That’s another story to be told another day.

Last edited by grkonweb : 13th September 2017 at 14:16. Reason: Additional information
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