[dars.han]

I own a 7 seater Hyundai Alcazar purchased in the month of April 2022. I have learnt the hard way that this upgrade from Brezza ZDI was one of the worst decisions. I am the sole driver of this car, I do not frequent office due to WFH scenes and my wife cannot drive a manual transmission ( she works from office daily). Hence, the car sits idly in my parking at least 25 days a month with me paying whopping EMIs only to keep it still.

Though the car is new, Iam considering selling the same and buy an automatic transmission which both me and my wife can drive. Potentially reduce EMIs and get a good worth of the car. Is this a good move?

[condor]

Difficult situation. While the general and common sense approach is to make use of a car, especially a new one, in this situation you could go ahead.

Remember: If you move to an automatic, AND your wife will drive - hence putting to use the spend and losses, go ahead. You will have to cop that loss, but better this way than letting it sit idle like that.

Suggest to wait and get a good price. You can also try an exchange with another Hyundai in case the exchange price is better that way instead of a sale.

[nik0502]

Hi Darshan,

It’s a difficult situation to be in since selling such a new car comes with huge depreciation however I think you are lucky since it’s a seller’s market and most of the cars have high waiting periods. Get your car evaluated by Cars24 or Spinny and sell it to an individual buyer for higher than the price quoted by online aggregators. Just remember the first quote that they will provide you will be very low. Just do not give into their pressure. These guys will keep calling you and will keep increasing the offer. You just have to be patient and you might be able to sell it for very little loss.

[shankar.balan]

Originally Posted by dars.han

I own a 7 seater Hyundai Alcazar purchased in the month of April 2022. I have learnt the hard way that this upgrade from Brezza ZDI was one of the worst decisions. I am the sole driver of this car, I do not frequent office due to WFH scenes and my wife cannot drive a manual transmission ( she works from office daily). Hence, the car sits idly in my parking at least 25 days a month with me paying whopping EMIs only to keep it still.

Though the car is new, Iam considering selling the same and buy an automatic transmission which both me and my wife can drive. Potentially reduce EMIs and get a good worth of the car. Is this a good move?

It’s only 6 months old. Put it up immediately for sale. I’m sure it’s not run many kms. Considering the huge demand for all sorts of vehicles and the generally low availability you should make back near about what you spent to buy it, especially if there have been some price rises in these last 6 months.
But lose NO time. Sell it NOW. Before December ends. Put an ad on tbhp classifieds as well as OLX and maybe even just go back to that dealer and see if they have a ready customer who wants an almost new car. Yes, you will lose a bit. But better bite the bullet now rather than later, because by delaying you will only lose more. The bottomline is to Act real fast.

[Piyush Kanthak]

Well if you are ok with the same car, you may install Autoclutch, it works just like iMT transmission, there are videos on the internet about it too. Not sure about the warranty part. But I think this will be the best bet if you don't want to take heavy losses.

[Ananthang]

Hi

Did you consider owning a small car maybe even a used.

Most of the IT offices may reopen next year and you may need a second car.

[shankar.balan]

Originally Posted by Piyush Kanthak

Well if you are ok with the same car, you may install Autoclutch, it works just like iMT transmission, there are videos on the internet about it too. Not sure about the warranty part. But I think this will be the best bet if you don't want to take heavy losses.

I evaluated this Auto Clutch in 2019 because I had broken my foot and at that time I didn’t want to sell my much loved car on which I had just spent a lot of money on preventive maintenance, intending to keep it for some more years. This Auto Clutch thingy came to my notice at the time. It was made by a manufacturer from Pune. It is a nice concept I agree. However, I will not really recommend it. It is somewhat crude and if installed in a lovely modern vehicle, it will just feel too much like the village blacksmith has been at it. And there is a level of chopping and wire cutting and all to install it, which I cannot abide. Yes it works, I don’t deny that. At the time the chap said it costs about 45000-50000 Rupees to do and it can be accomplished in a short time. But I chose at the time, not to do that to my then 8 year old car. I wouldn’t therefore, do it to a brand new one.

In any case, I am sharing this for anyone who may be interested, since this topic has come up. So here are the details and photos. If the mods see fit, I request please move this post and details to a more appropriate thread.

[shancz]

Originally Posted by dars.han

1. Hence, the car sits idly in my parking at least 25 days a month with me paying whopping EMIs only to keep it still.

2. Though the car is new, Iam considering selling the same and buy an automatic transmission which both me and my wife can drive.

1. You have summed up your situation perfectly. I don't think this leaves any question about the decision to sell it off make way for a car which will be driven and enjoyed.

2. If you want to buy a car within the price you get from the Alcazar, get something a bit smaller/cheaper with a proper automatic from the CSUV/MSUV segments.

[Hayek]

Originally Posted by dars.han

Though the car is new, Iam considering selling the same and buy an automatic transmission which both me and my wife can drive. Potentially reduce EMIs and get a good worth of the car. Is this a good move?

Presume there were some reasons why you picked the Alcazar when you bought it. Fully agree that what you spent on the car is sunk cost - and it makes no sense to keep a car you are not using and which your wife is not using either. But given this car probably cost upwards of ₹20 l OTR, and depreciation when you sell it would be at east RS 25% or ₹ 5 lakhs and an equivalent automatic will cost more than what you paid, the other option may be to hire a driver who can drive your wife to work. The depreciation alone will pay for 2 years salary for the driver - and who knows, your office may abandon this work from home stuff (I was about to use a far harsher word) well before that. At the very least, try out the driver for a while before going in for a fire sale on this car. Best of luck.

[sumeethaldankar]

Instead of a deperication hit which you might take while selling the car see if it is feasible to hire a chauffeur so that he can drive your wife to office. Once the car is 2-3 years old the depreciation impact will be less and then you can think of selling it off.

[d.j]

Originally Posted by dars.han

I own a 7 seater Hyundai Alcazar purchased in the month of April 2022. I have learnt the hard way that this upgrade from Brezza ZDI was one of the worst decisions. I am the sole driver of this car, I do not frequent office due to WFH scenes and my wife cannot drive a manual transmission ( she works from office daily). Hence, the car sits idly in my parking at least 25 days a month with me paying whopping EMIs only to keep it still.

Though the car is new, Iam considering selling the same and buy an automatic transmission which both me and my wife can drive. Potentially reduce EMIs and get a good worth of the car. Is this a good move?

Fail fast! Sell it if you can’t use it! consider it a wrong decision and don’t stick to it, same time be smart on your offer and do not leave too much on the table. To my mind engaging a driver to counter the situation is not a solution, drivers have its own utility function and don’t hire one if you don’t need that function, rather us that to cover up by investing that 20k instead in a good SIP.

Regards/DJ

[venkyhere]

Originally Posted by dars.han

Though the car is new, Iam considering selling the same and buy an automatic transmission which both me and my wife can drive. Potentially reduce EMIs and get a good worth of the car. Is this a good move?

Yes, the longer you 'sit' on this decision, the car is happily depreciating. Sell it ASAP, and get an automatic, which will be 'used'. Which brings me to the Q - what made you buy this car in the first place ? Was it not your decision ?

[itwasntme]

Originally Posted by dars.han

I am the sole driver of this car, I do not frequent office due to WFH scenes and my wife cannot drive a manual transmission ( she works from office daily).

You seem to have lost your interest in the Alcazar too. I'd suggest sell it off immediately, and pick up an automatic which you can both drive. Otherwise, it's not fair to your wife in my humble opinion.

[naru80]

Originally Posted by dars.han

I am the sole driver of this car, I do not frequent office due to WFH scenes and my wife cannot drive a manual transmission ( she works from office daily). Hence, the car sits idly in my parking at least 25 days a month with me paying whopping EMIs only to keep it still.

Iam considering selling the same and buy an automatic transmission which both me and my wife can drive. Potentially reduce EMIs and get a good worth of the car. Is this a good move?

Is this your only car?
How does your wife commute to office?
How many people are there in your family?
What was the original logic of buying it?

IMHO this looks like a case of sunk cost fallacy. You have invested heavily in a car and are now reluctant to get rid of it at a loss even when you suspect abandoning it would be the correct thing to do.

Usually a car that sits 25 days in parking should be a whole lotta fun when driven, or impress the neighbours when not being driven. Alcazar hardly ticks either box.

[GTO]

You'll lose money as the initial EMIs of a loan only cover interest and hardly any principal amount. Your bank might also have foreclosure fees. But it is what it is and if you seriously regret the purchase (sure seems like it from the tone of your post), sell it.

Be sure to research thoroughly before buying your next car. Mistakes like these can be expensive.

Sell your Alcazar and buy something you love with an AT. If you want to minimize the financial loss, consider a lightly owned & certified used car.

Originally Posted by sumeethaldankar

Instead of a deperication hit which you might take while selling the car see if it is feasible to hire a chauffeur so that he can drive your wife to office.

Good idea, but chauffeurs are also expensive. In Mumbai, experienced chauffeurs are 22 - 25k a month.