[Jaeger]

Hi Guys,

Need some Inputs from you guys. We are planning to upgrade our Indica Vista to either Zest or Dzire (still debate going on ).

What should be the fair price for our Vista?
Details of the car:
Tata Indica Vista Terra Tdi
Year Mfd : March 2011
Registered - May 2011
Kms covered : 35K
Colour : Pearl White.
Location : Akola

The car is in mint condition with proper service history.

Thanks

[hserus]

The very first post in this thread is about a tbhp tool to try and answer your question, http://classifieds.team-bhp.com/used-car-price-check/

Or just go to carwale.com and look up your model / city there.

[sweetvar26]

Quick question to you guys, for a 35Lakh used out of state car, what's the best place to go for a car loan? I've been shopping around and some banks aren't doing loans for out of state cars/used cars.

Axis Bank, from what I've heard mentioned that they will only release the loan after the RC is transferred to the owners name which could take a little while for out of state car. This means that the car has to be purchased with cash and get it registered before you can get your hands on the loan, which doesn't seem to make much sense.

I'm just trying to see what everyone's opting over here. Any tips guys?

[Rahul Bhalgat]

Originally Posted by sweetvar26

Quick question to you guys, for a 35Lakh used out of state car, what's the best place to go for a car loan? I've been shopping around and some banks aren't doing loans for out of state cars/used cars.

Axis Bank, from what I've heard mentioned that they will only release the loan after the RC is transferred to the owners name which could take a little while for out of state car. This means that the car has to be purchased with cash and get it registered before you can get your hands on the loan, which doesn't seem to make much sense.

What Axis Bank told you looks surprising to me.

Banks give loans for purchasing the assets. First we need to pay partly (15% to 30%) from our pocket. And then the bank makes the rest of the payment directly to the seller and not to us. This way, the bank makes sure that the loan is used for the same purpose that has been stated in the application. If the bank releases the loan amount after transferring the car, naturally the payment will go to you and not the seller. This looks odd.

Suggest you to check the Axis Bank proposal in detail. Is it that they will give the loan for some other purpose (on paper) and in the process, your car is hypothecated.

It is no surprise that the banks are reluctant to give loan in such cases. Premium cars depreciate fast and if the bank acquires the car of a defaulter, the car is not that easily sold.

[hserus]

My suggestion is to use a nationalized bank - especially part of the state bank group - as the paperwork is transparent with no hidden costs, funny tricks etc. Equally they will not extend loans in dodgy cases (such as houses with no proper approval / deviations from the plan, if a housing loan) so you can be reasonably sure the vehicle you are buying has good paperwork in place, if you go through them.

Of all the state bank group, State Bank of Bikaner and Jaipur has the lowest interest rate (by about half a percent or so) so if you have one of their branches in your city you might try using them instead of SBI.

[sweetvar26]

Originally Posted by Rahul Bhalgat

What Axis Bank told you looks surprising to me.

Banks give loans for purchasing the assets. First we need to pay partly (15% to 30%) from our pocket. And then the bank makes the rest of the payment directly to the seller and not to us. This way, the bank makes sure that the loan is used for the same purpose that has been stated in the application. If the bank releases the loan amount after transferring the car, naturally the payment will go to you and not the seller. This looks odd.

Suggest you to check the Axis Bank proposal in detail. Is it that they will give the loan for some other purpose (on paper) and in the process, your car is hypothecated.

It is no surprise that the banks are reluctant to give loan in such cases. Premium cars depreciate fast and if the bank acquires the car of a defaulter, the car is not that easily sold.

Originally Posted by hserus

My suggestion is to use a nationalized bank - especially part of the state bank group - as the paperwork is transparent with no hidden costs, funny tricks etc. Equally they will not extend loans in dodgy cases (such as houses with no proper approval / deviations from the plan, if a housing loan) so you can be reasonably sure the vehicle you are buying has good paperwork in place, if you go through them.

Of all the state bank group, State Bank of Bikaner and Jaipur has the lowest interest rate (by about half a percent or so) so if you have one of their branches in your city you might try using them instead of SBI.

I live in Andhra Pradesh and the SBI here mentioned that they aren't doing loans on used cars because of the fact that the RC transfer process is taking more time than it should be and it has become a hassle for them.

As for the Axis Bank, my branch have mentioned to me that the loan would be pre-approved and all, just the releasing it would be postponed till when I get the RC transfer. As for the 35Lakhs, I am ready to do a down of about 20-30% and the rest I want to get a loan approved so it wouldn't be much of a hassle for me in every aspect.

Also, yes the loan will be on my name and deposited into my account instead of the seller for some reason. I am new to this whole loan process in India and none of this is making it convenient for me.

Anyway, now I am looking at ICICI, HDFC and Kotak to see how their process is.

[hserus]

That is not a car loan by any stretch of the imagination. You are getting a personal loan at much higher interest rates.

Try to buy from a regular used car dealer (eg: the maruti true value, mahindra first choice types) and I think the dealer will automatically get things moving.

RC transfer within the same state is easy enough .. out of state means you have to pay life tax afresh which will be a tidy sum all by itself.

[pavan_6818]

Hello BHPians,

What's your opinion on Chevy Optra 1.6 2006, very neatly maintained and has run 53k, complete service track available and maintained only at Chevy A.S.C. Single owner (Doctor).

Appreciate your response.

BTW, the quoted price is 2.1 lac (at Hyderabad).

what could be the best price to negotiate?

[vinit.merchant]

Originally Posted by pavan_6818

BTW, the quoted price is 2.1 lac (at Hyderabad).

what could be the best price to negotiate?

Nothing more than 1.5L.
This is the max that these sell for, at least here in MH.

[pavan_6818]

What would be the average maintenance cost, I would prefer my FNG over ASC, will I be able to source the spare parts outside.

My average run per month would be less than 300 kms and a planned 800 kms long drive once in a quarter.

I ride a 2001 Santro and will be keeping it besides this one if acquired. Do I have to change my driving style?

[narayan]

Originally Posted by Jaeger

Hi Guys,

Need some Inputs from you guys. We are planning to upgrade our Indica Vista to either Zest or Dzire (still debate going on ).

What should be the fair price for our Vista?
Details of the car:
Tata Indica Vista Terra Tdi
Year Mfd : March 2011
Registered - May 2011
Kms covered : 35K
Colour : Pearl White.
Location : Akola

The car is in mint condition with proper service history.

Thanks

I am afraid but you will get very low quotes in the market even if the car is in good condition ( 1.2-1.5 L range ). Best is to exchange it at the TASS for a ZEST.

[pavan_6818]

Originally Posted by narayan

I am afraid but you will get very low quotes in the market even if the car is in good condition ( 1.2-1.5 L range ). Best is to exchange it at the TASS for a ZEST.

A friend of mine in Hyderabad had sold his 2012 Vista VX with 65k on odo for 3.75 lacs. Hope this helps.

Used car prices in South are at peak compared to North, not sure how much it could be valued at your location.

[vinit.merchant]

Originally Posted by pavan_6818

What would be the average maintenance cost, I would prefer my FNG over ASC, will I be able to source the spare parts outside.

My average run per month would be less than 300 kms and a planned 800 kms long drive once in a quarter.

Optra is a very good car, but spares are hard to come by and pretty expensive. How much expensive, only the users here can tell.
But I would not suggest taking it to 800 kms long journey. The car may no longer be so reliable.

Originally Posted by pavan_6818

A friend of mine in Hyderabad had sold his 2012 Vista VX with 65k on odo for 3.75 lacs. Hope this helps.

His query is for the TDI engined Vista. Quadrajet sells quickly and gets good resale (comparatively)

[93000BHP]

Good Evening friends.
Looking for an pre-worshipped Bolero.
came across one :
NOV 2014. ZLX BSIV.27000 KMS on the ODO.
Well maintained. Modified seats, HRS alloys and wheel arches.
Asking price is 8L.
What is the acceptable price. Pls advise.

[Liz@27]

Hello!
My friend is eyeing a Honda city with the details below. The car is well maintained and insurance claim was done once because of car door getting scratched to a pillar.
City: Bangalore
Model: 2010
Variant: S MT
Kms done: 55,000
Colour: Silver
External mods: None
Internal mods: None
Car has no uneven body panel gaps suggesting it was driven very well.
Quoting 4.1L for the same. Is it the right price?
Thanks