Team-BHP - The "USED" Car Price Check Thread

Quote:

Originally Posted by mukeshgoel (Post 1885335)

Getting an i10-1.2 Magna, 8700 kms, Oct'09, Gurgaon registration.

What should be the price? Owner is quoting ridiculously high price but I can offer him whatever is the right price.

My two cents on this. I guess you are being quoted a price which refelects only around 10% depriciation. Buying a used small car which is that new is simply not worth it even if you are buying a Santro or an Alto or whatever. Almost all of these in the used car market command around 90% of their new price if offered for sale within one year.

A Getz is a sensible buy if you look for overall space, comfort, and a good ride. It is Hyundai's version of the Indica! Don't expect a stonking fuel economy though.

The resale sucks as there are not many takers. It follows the adage "What didnt sell well when new, wont find takers when old!". At one point of time, I had considered this as an option. Had all the merits to make it to my chart. Was looking at getting one and a conversion to CNG thereafter.

A friend got a 2006 model run about 14000 kms for about 3.15L. Pretty expensive, but the car was very well maintained, and was from the friends neighbourhood. A test drive settled the deal for him.

Hi folks,

I came across a 1.3 Mar 2002 ohc of karnataka reg, third owner vehicle. It has run 80k km (exactly 83 i hope). Vehicle body line is neat, except for minor scratches on bumper, and small ones on all of the four doors, thanks to bangalore traffic. Tyres are almost done up, maybe another 5k km. The current owner is relocating abroad.

Had test drove 1-2 km, driven through some potholes, suspension felt fine. The clutch seems to be more tight than is usual, and some heat was just coming up from the clutch area. This is the second vehicle I felt clutch was tight, the earlier one I test drive was 2002 1.5 ohc, run 57k km.

The car is recently serviced, with coolant replaced and all.

Further had taken this to mechanic too, there was nothing alarming as per the mechanic too. He test drove the vehicle. I told him reg the clutch too, he told may not come for clutch plate change or anything of that sorts, the tight is usual with that much run vehicle. Also verified the under body hits and those sorts by putting on ramp. Oil sump has small hit with a stone or something, again not alarming or to worry. HE also told lower arm is recently replaced new, and rest all seems to be fine. Blowed the A/c and felt it was working fine too, just cooling up the car in couple of minutes.

Now to the m factor. He was asking 2.5 last, with third party insurance will be taken by him.

Can i just depend on Honda reliability, assume all is fine, even though its run 80k. I am really worried about o2 sensor failure and all, since its very common atleast for higher mileage honda city's. It burns a big hole in pocket, and most important I am not sure what all can come up for replacement or change. I know and have heard from most honda engines run just like anything, and peace of mind for 1 -1.5 lakh km.

Should I go for this or wait for something better. Its been long time I had been waiting waiting for an ohc of heather mist color. What should be the correct quote which I can offer him, in case if you feel I should go for this.

Need all the expert advice. The price I have in mid is 1.95, max - 2 lakhs. Hope I will be able to sell it with not much loss, in case I feel to. What are your views. Let me know.

Thanks
prsn

Guys,

I will be in the market in another 6 months looking for a used CIVIC which will be brought from New Delhi/Gurgaon.

I may be looking at a late '06 or early '07/mid '07 model. i guess in the used market there should not be much difference between the S-MT and V-MT prices. I am open to ALL colour options. The car should be ideally not be run more than 40k (maybe 50K). What should be the price I may be looking at then? remember, I may be open to wait for the turn of next year (say Jan'11) to make the car a 'year' older.

I will most probably use my Swift Vxi '06 to part finance the deal. The rest of the money may have to be financed (used car loan??). Is the used car loan as dreadful an option as our members have made it sound?

I want realistic range from people who have dealt in the used market or have good idea of the same.

Scrapping the used CIVIC idea may also turn out to be valid suggestion. I may think of other cars as options then. I will be looking for an ideal car combination in a few months time so I will have some alternate plans. CIVIC is what my heart says right now!

Thanks,
Abhi.

Quote:

Originally Posted by prsnck (Post 1885469)

Its a decent Deal if you are able to finalise it below 2.3 i guess. I purchased 2002 Aug OHC 1.3 Dx again i am the 3rd owner with 51 K on the odo in Oct 09 for 2.7 . i never repend on that deal. If its a decently maintained car will give you peace of mind. you can see the photos in my garage

Quote:

Originally Posted by vinu_pm (Post 1885592)

Ok vinu, thanks for info. Your's was 51k on the odo, and another 30k on Odo I believe differs a lots I believe, and another 5 months it will be 0ct 2010. So also consider depreciation for another 1 year, it will be still less you know right, but that's ok. But the only problem bugging my mind is 80k km. Its very close to and above 1 lakh km, if I further decide to sell. Maybe the km factor is not giving me a peace of mind, even though verified from mechanic end. The higher the mileage, the more the problems with higher intensity it is. So anything below 2.3 you feel is a good offer right.

Btw, I was unable to see the car in your garage. Is is there, I was able to see a M800 odo only.

Rgrds
prsn

Naman,

Great input. Are you comfortable divulging numbers of personal rate at which you got personal loan? Else, you can PM me the number. It will greatly help.

As such, I will have to go for some king of loan to part finance the deal (say my Swift fetches me 3 lakh) + 1 lakh added. It will still land me short of 2-3 lakhs. Do you guys recommend taking 'personal loan'/ 'used car loan' for say 2-3 lakhs?
Can I bring these loan guys at say 12% or so?

Which brings us to the prime question. How much will a decently maintained CIVIC (say early '07) cost me in (say Jan'10). I am only looking for approximations..The thing is: I will only go with this option if I have to take a relatively small loan at a relatively competitive rate. Else, I may look at simply buying a new sedan.

PS: This post is of a series of sequential answers which will help me decide on my combo of cars. More on that later!

Quote:

Originally Posted by Abhi_Automobile (Post 1886226)

Naman,

Great input. Are you comfortable divulging numbers of personal rate at which you got personal loan? Else, you can PM me the number. It will greatly help.

...
Can I bring these loan guys at say 12% or so?

Abhi,

When i took up the personal loan i received interest rate of 14.5% reducing monthly. At that time the Used car loans were going from 16 - 18 % and new car loans were going at 12-14%.

As I said earlier also you can negotiate a lot on personal loan interest rates depending on the following things -

1. Your credit history
2. Your salary
3. Salary account
4. Relations with bank
5. The company for which you work (for example ICICI offers very attractive loan rates to Infosys guys )

PS - Try to take loan from Public sector bank as they have usually the lowest interest rate and also allow you to prepay without any penalty. The only problem with them is that they want a guarantor.

Quote:

Originally Posted by naman07 (Post 1886912)

PS - Try to take loan from Public sector bank as they have usually the lowest interest rate and also allow you to prepay without any penalty. The only problem with them is that they want a guarantor.

a guarantor might not be the only problem...i was checking for a P.L recently with a couple of nationalized banks and at least 5 of them confirmed that you needed to have your salary being credited to that account month on month. It didnt help that I had a long standing credible relationship with 2 of them.