[Tech]

With 20-30 new stylish cars coming out every year it gets tempting to sell off your existing car and go in for a newer car as an upgrade. Earlier people used to keep cars for 10-15 years however the trend is changing these days with people selling off their cars every 2-3 years to keep in pace with times or neighbours cars or be labelled as old fashioned. Changes in technologies like Petrol -> Multijet Crdis -> Hybrid cars, ABS, more power.... there will be endless reasons to sell your existing car for a newer car.

So what do you feel is the right time to sell off your car considering the depreciation costs, maintenance costs and lower resale values of your cars considering new models and upgrades coming every year. This becomes important because the sooner you sell, the more can you save at the time of an upgrade.

This applies more to cars having high resale values such as Honda / Maruti Suzuki / Toyotas etc.

[iraghava]

My personal preference is 3 years/100,000 kms whichever comes earlier. reasoning being that till that mark the car remains in its mechanical prime (barring any crashes of course) and since it's only 3 years old the resale is not affected by much.

[rags]

My personal opinion would be to sell the car after a minimum of 5 years if you are not a heavy car user doing 2 to 3000 kms per month. Modern cars are built to last atleast 2 lakh kms ofcourse excluding our tata cars which are getting engine problems before 1 lakh kms.

if u are a home to office user doing < 1500kms per month keep the car for minimum 5 years. so that the traffic is light which is becoming alarming these days with so many vehicles being added. For every new car bought he is adding 2 cars to the traffic situation, maintain the car s in ship shape and use as long as possible In this city traffic crdi, mjtd, turbo charged petrol skoda, benz ....etc go politily behind blue lines, taxis, indicas.

[vipul_singh]

I have voted for 10+ years. My reasoning is: when the Financial implications (present value of all cash flows) is taken into account, selling a car is nearly always a maoney losing proposition, compared to keeping it. EXCEPTIONS INCLUDE:

1. Switching from Petrol to Diesel --> selling my Palio 1.6 and buying a Punto/Linea diesel would probably make a lot of sense, dependending on the mileage covered each day.
2. Spares/service are no longer available, or are difficult to source

I have been driving a Palio 1.6 for the past 5.5 years, and have been able to maintain it in a 'as-good-as-new' condition. As and when FIAT stops supporting the car, though, I would be FORCED to sell.

[gopz]

Hmmm...well said! Im thinking that car ownership would be comparable to cellphone ownership some day...

Like changing cars just for that extra feature or because your friend has a more advanced one, or things like "keeping in pace with the trends" etc though functionally it doesnt make such a big difference...!

[snaronikar]

I personally feel 3~5 years is the right time you should keep your car. We will get the maximum benefit of depreciation and insurance (no claim bonus). But people in India still have the conservative approach that the car once bought will be kept for the life time and they will not be prepared to buy a new car unless the car is bought by a youngster.

[Hyundai.Lover]

Originally Posted by Tech

This applies more to cars having high resale values such as Honda / Maruti Suzuki / Toyotas etc.

Sorry to say but Toyotas don't have that much resale value.

[Absar]

Three years is the best time I reckon. But it also applies to which car you have.

Originally Posted by Hyundai.Lover

Sorry to say but Toyotas don't have that much resale value.

I think you're wrong. Toyota has a high resale value indeed. From the time it was launched, the resale value was high because of their wonderful engines and good reliability.

cya
A

[Zappo]

Right to time to sell a "new" car? Lol, but then will it remain new anymore when you sell it?

My personal feeling is that the best time to sell a car is at around 60000 kms. If you use it as a regular user (naa zyaada naa kam) it should be around 4-5 years by then. This is the time when you get the best price possible for your car.

After 60k buyers start talking about too many kms on the clock and similarly after 4-5 years (max 5) again it gets termed as too old.

[Hyundai.Lover]

Originally Posted by Absar

Three years is the best time I reckon. But it also applies to which car you have.


I think you're wrong. Toyota has a high resale value indeed. From the time it was launched, the resale value was high because of their wonderful engines and good reliability.

cya
A

Na Bro., I had seen in many magz about the resale value of the different car's companies in India. Now talking of the reliability and performance.. I was also thinking it is a very good company.

Please read this ....
Toyota slips in Consumer Reports' reliability rankings - Oct. 16, 2007

Complex where Hans Hyundai and Ford and Toyota's showrooms are there at moti bagh, New delhi.

I had seen a Toyota Corolla, 2003 model at just 5.80 Lakh.
Car was not accidental 100% sure about that and done 40k km approx.

Same place...
Accent GLS 1.6L 2003 Model... 39k km Done.
4 Lakh

Driven both the cars, Ofcourse Corolla is Corolla. But just 1.80 lakh difference? Duh!!

Again Vikas Puri, New Delhi.
Corolla - 2004 model. 42k done
6.25 lakh

Accent GLS 1.6L 2004 37k done
4.60 lakh..

Honda OHC 2003 model vtec
4.70 Lakh Damn!!

Bargaining is always there...


In the aug edition of Overdrive or AutoCar India whole chart of resale value is given. I don't remember out which 2 magz the charts were there.

[rks]

This really depends on the budget and the outlook of the individual concerned. Someone who cares a lot about appearances and has money to burn will keep changing cars frequently.

Personally I have voted for >10 years. I prefer to keep my old Santro for a number of reasons, even though it is now 7 years old and has done 60000 kms. For one thing, it is rugged and reliable and gives more than adequate performance for my weekly highway drives or in the city. I have to park the car out in the street every weekend and that is also a factor. Seeing a new car getting scratched, worrying about it getting stolen, and seeing it soak in the sun, rain and dust when parked out will be a very painful experience. My old Santro takes all this and doesn't complain, and I doubt if thieves will target this car anymore.

Lastly keeping a car for a long time lets me get to know all issues involved over the full life-cycle of the car. It may also work out to be more economical in the long run if the car is well-maintained and driven well.

[dadu]

I was about to write the same thing, but saw zappo's post.

I have voted for 5 years with an assumption that one will cover atleast 10-12000kms an year.

Even rust starts setting in on some parts after this much running/period.

Originally Posted by Zappo

My personal feeling is that the best time to sell a car is at around 60000 kms. If you use it as a regular user (naa zyaada naa kam) it should be around 4-5 years by then. This is the time when you get the best price possible for your car.

After 60k buyers start talking about too many kms on the clock and similarly after 4-5 years (max 5) again it gets termed as too old.

[ramzsys]

Any car will fetch almost the same value in its absolute crap/obsolete condition.
Hence i find keeping it for 'safe' long term period will make economic sense.

[sreenivass]

Voted for 6-10 years. I would like to keep my Petra for that long if I can maintain it well. For low mileage use it makes sense since the car is as good as new for quite a few years. In 3 years I have clocked only 18K KMs.

[aZa]

3yrs = Best resale value!