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Old 19th March 2020, 12:12   #31
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Default Re: Buy a car now or wait for Coronavirus to pass?

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Originally Posted by rahul_jo View Post
I am stuck in an interesting predicament currently.

I am in the process of finalizing a car deal and as I type this, corona is slowly but surely making its way into our country.

The dealer has asked me to put up a deposit tomorrow with the promise of delivery on the first Navratra.

Is it best to wait it out or should I go ahead with the purchase?
I was in a similar predicament as yours - and I went ahead and booked my car.

Just a slight correction - the depreciation of 30% was applicable only had you bought it before 30th september 2019. Now you will get 15% only - which is quiet substantial too (considering it was 15% for the entire year earlier and 7.5% for vehicles bought after 30th sept.).

You need to decide - if you can wait patiently - you should. Else you too can be impatient like me and go ahead with the purchase
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Old 19th March 2020, 12:23   #32
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Default Re: Buy a car now or wait for Coronavirus to pass?

Like many I was contemplating to get a new car too for my Honda City replacement. However, will wait till April end when things will be more clear where we as a society are heading and how robust is our economy at that moment. I foresee many people doing the same and car sales taking a hit in the upcoming months. On the upside maybe by the time we are back in the hunt there will be some good deals for bs6 cars. I sincerely hope this coronavirus threat subsides sooner than later.
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Old 19th March 2020, 12:38   #33
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Default Re: Buy a car now or wait for Coronavirus to pass?

While most of the members are advocating a "wait!" approach - and I agree with this thought in general - I think there is no one size fits all approach here.

We don't know the OPs state of finances, annual income, savings, etc. For all we know, if the money being spent is a fraction of total assets/income, then it makes no dent at all. Buying today is as good as buying tomorrow/next month/next year.
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Old 19th March 2020, 13:07   #34
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Default Re: Buy a car now or wait for Coronavirus to pass?

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Originally Posted by varman742 View Post
As such there is no immediate threat to the industry I am working in
May you share which industry is that? I am looking to identify investment opportunities.
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Old 19th March 2020, 13:26   #35
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Default Re: Buy a car now or wait for Coronavirus to pass?

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Originally Posted by rahul_jo View Post
I'll be keeping my 3 series and will only let it go if/when I get a decent deal on the new 330i.

Ford is going to be another purchase. As I've always needed a car that is rugged enough to
not make me worry about outstation/poor road situations.
From your post I understand that you are not someone who is breaking the bank to buy a once in a lifetime dream car and you do have other resources.

From that context, I would say go ahead and buy that endeavour for 2 reasons

1. It's very difficult to shake that off your mind ince you have decided to buy such a toy. You will constantly think about it and make yourself miserable

2. On a lighter note, in case we face a doomsday scenario, it's better to be in a big bad SUV than a low slung sedan. Most doomsday movies suggests that
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Old 19th March 2020, 13:45   #36
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Default Re: Buy a car now or wait for Coronavirus to pass?

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Originally Posted by srikanthmadhava View Post
I am one of those who had planned a new car purchase in 1st week of April 2020. I have been dreaming about owning my first car for many years.
For those looking to buy their first car or replace their old car (because it is no longer reliable), now is THE time to buy. You do not want to use public transport/Uber/Ola and you do not want to face a breakdown. You need safe and secure means to go and buy vegetables and groceries with minimal exposure and, if it takes too long for the things to return to normal, you should be able to plan for a friend/family get together (at someone's place, two families only) which might be the only way to break the monotony with minimum exposure.
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Old 19th March 2020, 14:14   #37
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Default Re: Buy a car now or wait for Coronavirus to pass?

Like many others in this thread, i was in a Juxtapose- placing Car & Covid-19 next to each other.

Summary of my story is that i am ending up in loss, but possibly, a long term gain.

I sold my car in December '19 and was in look out for my next one over last 3 months. Had thought/decided to buy a Pre-used one. Finally after a lot of search, find, negotiation, I finalized one (Ford Endy Q4 '18, 6K kms, Dr. owned, exceptionally well maintained) in 1st week of March. This was mediated by Cars24, but deal struck directly with the buyer.

Paid the service charge to Cars24 (INR ~18K). I am in bangalore and car in Kochi. I was planning to go, settle the deal and take car in a days time, however the seller informed he had to be in Mumbai for Doctor's conference for 3-4 days.

And that 3-4 days made the difference. In last 10 days, COVID-19 spiked up and Kerala had most reported cases (until recently). Seller landed back in Kerala earlier this week. However, i was unable to go to kerala to close the deal and take the car- There were checks at every entry points, possible risk of being quarantined in kerala (being an outstation person entering kerala).

Meantime, these things were going in my mind- Recession, Potential impact to my income/ career(i am an MNC employee in IT capital), no major use for next 3 months ( earlier had plan to go on a drive during summer break).


Today morning, I called the buyer, informed him and withdrew from the deal. He could comprehend my anxiety and dilemma. He too had paid Cars24, INR 6K towards service charge. I have offered to discuss with Cars24 and work it out for him or compensate from my end.

Long searched (would have spend over 100 Hrs) car and a dream one is now let off with ~24K dent in my pocket. But, i tend to (or that is the only option ) look at the positive side of it.

And for now for the Intra-city travel (if any), i have my war horse Tata Nano .
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Old 19th March 2020, 14:51   #38
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Default Re: Buy a car now or wait for Coronavirus to pass?

I'd suggest going ahead with the purchase. Being an industry analyst for more than a decade and a part of CIO.com's influencer network from the past 4 years, let me tell you things are not as bad as they are being projected. The world economy can go on a downward spiral, not because of the pandemic, but people becoming overly conservative with the spending. Once you stop all the discretionary expenditures, it will cause a ripple effect compounding the problem.
Is there more financial risk involved in buying a car now vs. 2 months back? Yes. Is the risk big enough? No.

P.S. Some good news - China has reported no new domestic COVID-19 cases.
Source: https://www.ndtv.com/world-news/chin...t-time-2197109
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Old 19th March 2020, 16:24   #39
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Default Re: Buy a car now or wait for Coronavirus to pass?

I would say that you should wait till May’20 because of Coronavirus pandemic. It seems that another recession is knocking our door hence big purchases should be put on hold temporarily until it is absolutely necessary. Wait and watch is a better financial strategy at this time.
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Old 19th March 2020, 16:26   #40
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Default Re: Buy a car now or wait for Coronavirus to pass?

General Consensus is to hold on and it should be beneficial for most of the mango people to hold on the purchases for few months. As many said, the car won't go anywhere in few months and it won't hurt for OP as he already has 320d. Even if he manages to get the car, he will have to wait for few months to venture out because of the Corona Situation.

Few stop gap solutions can be,
1. Remapping 320d if not done already
2. Detailing the car and getting fender benders fixed if not done already
3. Getting a PS4 racing wheel and enjoy Dirt Rally at home

I can see a very good deal on amazon for Logitech G29

https://www.amazon.in/dp/B013DYX7BS/..._c90CEb3NB2M22
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Old 19th March 2020, 16:36   #41
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I think I read the thread just in the nick of time. Had booked a Fortuner Petrol on March 17 and the dealer was about to place my production order with Toyota (there's a 2-3 months wait period as Toyota petrol is made to order) when I called him today ans asked him to hold off on placing my order. I told him that I will take stock of things in next 15-30 days and decide the future course of action. If I ask him to place the order in April, that means the car would be delivered in June-July but in view of current situation, I believe it would be worth the wait.
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Old 19th March 2020, 16:48   #42
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Default Re: Buy a car now or wait for Coronavirus to pass?

I suggest you put the decision on hold, I myself cancelled a deal considering the current situation.
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Old 19th March 2020, 20:04   #43
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Default Re: Buy a car now or wait for Coronavirus to pass?

Quote:
Originally Posted by rahul_jo View Post
I am stuck in an interesting predicament currently.

I am in the process of finalizing a car deal and as I type this, corona is slowly but surely making its way into our country.

The dealer has asked me to put up a deposit tomorrow with the promise of delivery on the first Navratra.

Is it best to wait it out or should I go ahead with the purchase?
If buying an endeavor try to get the 3.2 titanium at . I just bought preowned at a very lucrative price. But i ll be able to claim only 15% depreciation instead of 30% in case of new car . By getting preowned i retained my 530d & best SUV .
3.2 is better than the current gen 2.0 .Many dealers have stock for the same
(more discounts on BS4 models).
One tag line of BHPians : No replacement to displacement .
Just an suggestion .

Last edited by BlackPearl : 19th March 2020 at 20:49. Reason: Typos.
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Old 20th March 2020, 01:14   #44
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Default Re: Buy a car now or wait for Coronavirus to pass?

Look at it from a financial perspective.

Take a worst case scenario, where you are unemployed/salary reduced or your business goes under. Would you at that point be able to afford the car and have enough savings put aside for one years expenses. If so, go ahead and buy it. You are unlikely to get such good deals on BS-IV cars again, unless they extend the deadline to May. If on the other hand, you are interested in a BS-VI car, wait for the situation to worsen before you choose to buy. With a BS-VI car, the dealers/manufacturers can afford to wait since they can sell later in the year, or even next year
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Old 20th March 2020, 04:25   #45
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Default Re: Buy a car now or wait for Coronavirus to pass?

Not sure if I have come across this post very late. I have almost finalized 2019 freestyle BS4. Down payment or token payment is already done and loan is ready for disbursal. Now I am thinking should I back out? Not sure if I can. Any recommendations will be helpful.
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