An upside to the petrol price hike : Used car residuals CRASH

GTO · 21st June 2012, 13:01

Quote:

Originally Posted by Parthasarathig

This looks tempting. 7 series for 7lakhs. Needs a bit of touchup and it could be a daily driver. Number plate says West Bengal but the owner says registered in Orissa. Thoughts?
http://classifieds.team-bhp.com/buy-...7-Series.html/

Tempting indeed. Just keep in mind that a 17 year old top-of-the-line luxury European sedan will have high maintenance costs. These cars were built without a regard for cost (whether in construction or maintenance) and were meant to be the absolute best, flagship sedans.

saketa · 21st June 2012, 15:33

I got a call from Infiniti Motors saying they had a 330i "unregistered" car. I asked if it was the test car and they said it wasn't. They were offering it for 31L without too much bargaining and said it is 42L on road otherwise! But i'm guessing it isn't a great purchase because a new 330i is probably going to become a resale disaster. I'm still on the hunt for a used 2011 330i. Any suggestions as to how much i should quote? (Assuming i do find a well maintained 330i)

Pedaltothefloor · 21st June 2012, 20:50

I am trying to convince my wife that we should make the most of the situation (read - Buy me a used Petrol Rocket). Let's see how it goes. I have my heart set on something in the league of Mitsubishi Cedia, Honda Civic or a Palio S10. I will keep my diesel car but need a street car for the adrenalin rush.

PrideRed · 21st June 2012, 21:29

I already saw it coming even before petrol price hike. It was in March before budget and it was nightmare selling our Optra(2004 model). Thank god somehow it was swapped with Vento for a fair deal.
In the current scenario i guess selling the car per kilo would have fetched more

.

While pushing the optra for sale the potential buyers were rather keen on our 4 year old Innova. And the best part, the offering for Innova from majority was more by over a lac than what innova was bought 4 years back.

VMC · 21st June 2012, 21:45

I totally agree to GTO's views.
My friend wants to sell his Ritz Vxi ABS June 2009 model. This car costed 5.5lacs when it was bought and now he has been quoted 3.25 lakhs. I knew that the market for petrol cars has dipped but seeing this thread I feel the price quoted by Maruti True Value is actually good. This car has been maintained well but true value guys say it is quite difficult for them now to sell petrol cars.

gigy · 22nd June 2012, 00:42

07 Grand vitara going for 5 or lesser has for me interested in it now

vibbs · 22nd June 2012, 01:01

Is there really such a drop in used car prices? At least here in Delhi I cant see any significant reductions in prices being asked for used cars especially by authorized used car dealers. Or is it that we now have more leverage to play around and force a reduction in price?

Born 2 Be Wild · 22nd June 2012, 09:56

Quote:

Originally Posted by vibbs

Is there really such a drop in used car prices? At least here in Delhi I cant see any significant reductions in prices being asked for used cars especially by authorized used car dealers. Or is it that we now have more leverage to play around and force a reduction in price?

Dealers in delhi or for that matter anywhere in india are a crooked lot they low ball customers anyhow and with the rising prices they have got a very good reason to low ball prices further so this is a good time to buy a used petrol if somebody gets a good deal.

Su-47 · 22nd June 2012, 11:42

Quote:

Originally Posted by VMC

My friend wants to sell his Ritz Vxi ABS June 2009 model. This car costed 5.5lacs when it was bought and now he has been quoted 3.25 lakhs.

To me, 3.25 sounds like almost fair price for a 3 yr old Vxi. Just curious: my Oct-09 Zxi was bought for 5.65 in Bangalore (didn't get even 1 Re discount). Is Vxi-ABS just 15K cheaper than Zxi?

VMC · 22nd June 2012, 13:33

Quote:

Originally Posted by Su-47

To me, 3.25 sounds like almost fair price for a 3 yr old Vxi. Just curious: my Oct-09 Zxi was bought for 5.65 in Bangalore (didn't get even 1 Re discount). Is Vxi-ABS just 15K cheaper than Zxi?

Hey Su-47, got this clarified with my friend. The car invoice says its 5.25 lakhs and it was 5.5 with some accessories.

simplyself · 22nd June 2012, 15:00

Quote:

Originally Posted by vibbs

Is there really such a drop in used car prices? At least here in Delhi I cant see any significant reductions in prices being asked for used cars especially by authorized used car dealers. Or is it that we now have more leverage to play around and force a reduction in price?

Well, if a customer is keen on dumping a petrol car for a diesel one, the dealer may play a game or two.

I heard Delhi has good CNG pump network which means running a petrol car cheaper !!

Mister_M · 22nd June 2012, 16:28

Guys, I originally had almost finalised on a New Honda Jazz - Select variant last month. Soon after our most recent 7.5 INR petrol price hike, I had to put my decision on hold. I understand that Being "Practical" in today's scenario will be either be a Used Petrol Sedan or some Diesel if I opt a new car.

Considering price-slash of used Petrol cars, I am very keen on some well maintained pre-worshipped ANHC (2009 or later models) with less mileage at Bangalore in 2 months down the line. In the current scenario, what would be the price range I should fix for a good deal for this?

Eventually, I even saw this 2011 XYLO E8 in our Classifieds while scanning through for good deals available:
http://classifieds.team-bhp.com/buy-...dra/Xylo.html/
Owner has quoted 9L, while Carwale recommends only around 7.5L for this model if being maintained well. What could be a reasonable deal for this case?

nanduchitnis · 22nd June 2012, 20:00

Recession is a good thing for consumers. Get cheap cars, specially pre worshipped. Brent crude prices $ 80/- means possibly drop in petrol prices. Less car sales means less traffic on the roads, less pollution. Real Estate prices down all major cities. Buyers market all round.

Let's celebrate a few years while the going is really good. Honda Civic for Rs 3 Lakhs? Wow.

born_free · 22nd June 2012, 22:50

Quote:

Originally Posted by Su-47

To me, 3.25 sounds like almost fair price for a 3 yr old Vxi. Just curious: my Oct-09 Zxi was bought for 5.65 in Bangalore (didn't get even 1 Re discount). Is Vxi-ABS just 15K cheaper than Zxi?

A friend of mine in Gurgaon sold his 2009 Ritz ZXI 3 months back, as he was relocating to Bangalore. He got quotes from 3 dealers and the best quote he received was from Maruti True value for 3L.

He sold finally to True Value for 3L. IIRC he had paid only ex-showroom price of 5L, as the car was on company lease.

The car had done 14K Kms , and was in good condition.

sonirohit · 23rd June 2012, 00:54

This is a great news, will wait till the govt decides to raise the tax on diesel cars, I have a Swift DDIS which would see the resale value shoot overnight by 50K if taxes shoot up on diesel cars. Assuming Im able to sell a DDIS for 4, would look to upgrade to a Segment C+/D 2008-09 car for around the same amount.... Another 60K for CNG conversion and enjoi!!!

21st June 2012, 15:33	#62
saketa BHPian Join Date: Feb 2011 Location: Hyderabad Posts: 96 Thanked: 23 Times	Re: An upside to the petrol price hike : Used car residuals CRASH I got a call from Infiniti Motors saying they had a 330i "unregistered" car. I asked if it was the test car and they said it wasn't. They were offering it for 31L without too much bargaining and said it is 42L on road otherwise! But i'm guessing it isn't a great purchase because a new 330i is probably going to become a resale disaster. I'm still on the hunt for a used 2011 330i. Any suggestions as to how much i should quote? (Assuming i do find a well maintained 330i)
	() Thanks

21st June 2012, 20:50	#63
Pedaltothefloor BHPian Join Date: Jun 2012 Location: India Posts: 610 Thanked: 618 Times	Re: An upside to the petrol price hike : Used car residuals CRASH I am trying to convince my wife that we should make the most of the situation (read - Buy me a used Petrol Rocket). Let's see how it goes. I have my heart set on something in the league of Mitsubishi Cedia, Honda Civic or a Palio S10. I will keep my diesel car but need a street car for the adrenalin rush.
	() Thanks

21st June 2012, 21:29	#64
PrideRed Senior - BHPian Join Date: May 2012 Location: BLR/PTR Posts: 3,282 Thanked: 9,680 Times	Re: An upside to the petrol price hike : Used car residuals CRASH I already saw it coming even before petrol price hike. It was in March before budget and it was nightmare selling our Optra(2004 model). Thank god somehow it was swapped with Vento for a fair deal. In the current scenario i guess selling the car per kilo would have fetched more . While pushing the optra for sale the potential buyers were rather keen on our 4 year old Innova. And the best part, the offering for Innova from majority was more by over a lac than what innova was bought 4 years back.
	() Thanks

21st June 2012, 21:45	#65
VMC BHPian Join Date: Aug 2009 Location: Bangalore Posts: 75 Thanked: 31 Times	Re: An upside to the petrol price hike : Used car residuals CRASH I totally agree to GTO's views. My friend wants to sell his Ritz Vxi ABS June 2009 model. This car costed 5.5lacs when it was bought and now he has been quoted 3.25 lakhs. I knew that the market for petrol cars has dipped but seeing this thread I feel the price quoted by Maruti True Value is actually good. This car has been maintained well but true value guys say it is quite difficult for them now to sell petrol cars.
	() Thanks

22nd June 2012, 00:42	#66
gigy Senior - BHPian Join Date: Jul 2006 Location: mumbai Posts: 1,321 Thanked: 47 Times	07 Grand vitara going for 5 or lesser has for me interested in it now
	(1) Thanks

22nd June 2012, 01:01	#67
vibbs Senior - BHPian Join Date: Feb 2011 Location: SG Posts: 1,125 Thanked: 2,297 Times	Re: An upside to the petrol price hike : Used car residuals CRASH Is there really such a drop in used car prices? At least here in Delhi I cant see any significant reductions in prices being asked for used cars especially by authorized used car dealers. Or is it that we now have more leverage to play around and force a reduction in price?
	() Thanks

22nd June 2012, 16:28	#72
Mister_M BHPian Join Date: Jun 2012 Location: Bangalore Posts: 133 Thanked: 130 Times View My Garage	Re: An upside to the petrol price hike : Used car residuals CRASH Guys, I originally had almost finalised on a New Honda Jazz - Select variant last month. Soon after our most recent 7.5 INR petrol price hike, I had to put my decision on hold. I understand that Being "Practical" in today's scenario will be either be a Used Petrol Sedan or some Diesel if I opt a new car. Considering price-slash of used Petrol cars, I am very keen on some well maintained pre-worshipped ANHC (2009 or later models) with less mileage at Bangalore in 2 months down the line. In the current scenario, what would be the price range I should fix for a good deal for this? Eventually, I even saw this 2011 XYLO E8 in our Classifieds while scanning through for good deals available: http://classifieds.team-bhp.com/buy-...dra/Xylo.html/ Owner has quoted 9L, while Carwale recommends only around 7.5L for this model if being maintained well. What could be a reasonable deal for this case?
	() Thanks

22nd June 2012, 20:00	#73
nanduchitnis BHPian Join Date: Oct 2010 Location: Pune Posts: 494 Thanked: 301 Times	Re: An upside to the petrol price hike : Used car residuals CRASH Recession is a good thing for consumers. Get cheap cars, specially pre worshipped. Brent crude prices $ 80/- means possibly drop in petrol prices. Less car sales means less traffic on the roads, less pollution. Real Estate prices down all major cities. Buyers market all round. Let's celebrate a few years while the going is really good. Honda Civic for Rs 3 Lakhs? Wow.
	() Thanks

23rd June 2012, 00:54	#75
sonirohit BHPian Join Date: Nov 2008 Location: Chandigarh Posts: 321 Thanked: 15 Times View My Garage	Re: An upside to the petrol price hike : Used car residuals CRASH This is a great news, will wait till the govt decides to raise the tax on diesel cars, I have a Swift DDIS which would see the resale value shoot overnight by 50K if taxes shoot up on diesel cars. Assuming Im able to sell a DDIS for 4, would look to upgrade to a Segment C+/D 2008-09 car for around the same amount.... Another 60K for CNG conversion and enjoi!!!
	() Thanks