[vij4all]

Fantastic thread indeed.

Most of you will remember my woes with the Ford Fusion that i currently own and how desperate i was (not anymore after reading this) to get rid of it and upgrade.

You know I spent sleepless nights thinking should i sell it off at roughly 2.5 L to 3.0 L and go in for a swift at approximately 5L or an SX4 at approximately 7.5L ? With the swift, I wouldn't be able to get the benefit and the pleasure that I got with the fusion (boot, power etc) and with the SX4, I would be stretching way beyond my budget.

I worked out a comparision for the next 5 years purely based on EMIs and realised that even if i had to spend 40K every year for the next 5 years, the car that i have presently would still be cheaper than a new SX (not the emi'd value).

But like many of you have said and friend of mine who owns an indica and has just bought a safari for 9.5 L says "Shauk ki koi keemat nahi hoti". At the end of the day it boils down to what you want out of a product be it a car, phone or even a pair of jeans.

I have never todate bought a branded pair of jeans in India. Somehow spending 2K on a pair of jeans never appealed to me though I have friends who splurge. My jeans are priced at $10 and come from walmart once a year when my sister visits India. But on the other hand, I love buying and owning original music CDs and would not hesitate to spend 400 rupees on a new release whereas my friends who spend on the jeans will download it from the internet.

My father always raised his eyebrows whenever I upgraded to a phone that i always wanted. In the last 3 years, I've changed 3 phones from a communicator to a p990i and an n series but I now realise that maybe i dont need the i phone after all.

Interestingly, while on cars, my father always had a simple logic which again is his perspective so don't jump on me. Everytime I would talk to him about the latest cars, the power and the price, he would ask me "how many people can it seat comfortably?'' and on most occassions I would say "4". His seond question would be "how quickly will it take you to your office in peak Bombay traffic?" and I would say "maybe 5 minutes if the signals are all green or maybe take more time since its a bigger car" and he would just smile and I would give a stupid grin.

I still went ahead and bought the fusion though i could have opted for an alto or an indica because I love driving and am always on the lookout for getaways.

Between mind and heart - Michael Cretu, Enigma

[Abhiraj]

Originally Posted by DieselFan

Abhi,

This is very encouraging for FIAT fans. You should write a long term ownership report. Please include the servicing done and the parts replaced and pros and cons of the FiatASS in the same.

Sure...
I will try my best not to miss out anything.

[midlifecrisis]

Excellent Thread! I'm already wondering if I could fit the Verna CRDI engine into my Accent after 7 years, if the body is still good. If it fits in the engine bay, i.e.

[e1t1bet]

Can someone do the economics of doing a complete overhaul after 7 years or so? I mean, engine overhaul,clutch/break replacement, suspension overhaul, paint job etc. Wouldn't that be equivalent to buying a new car, in some respects, while not spending as much?

[Dnot]

Interesting thread.
I have a 8 yrs old santro, 80K kms, which runs fine giving me 15kmpl. I was wondering if it makes sense to trade it in for a Swift diesel now (i put in more that 13000 kms annually now). While my existing car is old and i might get Rs 1 lakh for it, it might make sense to hang on to it in the current economic environment. On the other hand, if I wait longer, prices of cars might shoot up and eventually my trade-in value will also reduce.
Any suggestions on points that i should factor in considering that i can buy a new car outright and don't have to go for a new car loan?
Thanks

[sridhga]

Originally Posted by alphamike

Great thinking and you guys have put private Bankers like us also to think and do the home work before zeroing in on to a new car, mobile, laptop and the never ending list.

Just curious, What private bankers got to do with this?

[fast lane]

Yeah that right!!! I did a little maths on my own and sold off the 1999 ZEN for abt 75000 and got myself a 1999 Fiat Siena for 90000. No EMI or stuff. Spent additional 50 K on the siena (parts replaced, seat covers, music syst) and its good as any sedan. Upgrade was for space, luxury and safety. Extra cost of abt 65K only over 3 months.

[hoomdo]

Sound logic GTO...but then we, especially the male of the species, love new toys, don't we? The way I see it, with cheaper loans eating into the resale value of used cars, it doesn't really make sense to sell off a 5 year old. It is a middle of the road situation, where the car still has lots of miles to go, but the resale value does not do justice to the same.


Once the loan on the first car is paid, for a similar EMI (factoring the income increase in these 5 years) go for a next segment car, while retaining the first one. This is ofcourse, taking into account that you need both the cars (my family does). This helps to realize better value of the older car (and its all EMI free now -so joy to the world). This takes care of the emotional aspect as well - who loves to sell a loyal car anyway?

The new lady (EMI - same impact on budget in % terms hopefully) will account for other softer points like status, safety, comfort and the joys of driving a new set of wheels. At the end of another 5 years, the first car's value is well nigh realized and is better disposed off (for whatever one gets). The cycle re-starts with the second one replacing the first one now.

This is what I am atleast palnning to do, once EMIs on my 800 ends this March. it will have done 60,000 self driven kms by then and would fetch a price of only 75K possibly (not justified is it ? with atleast 80,000 kms left in my baby) Instead gift it to my family and go a bit SWIFTy myself. Do I make sense? OR ???

PS : @ GTO In these recessive times, if the car makers hear you advocate the theory of "one car for one life" , they would be sending assassins after you

[naj]

Hi All,
This is a great thread and really makes one to do some purposeful thinking.

Many of us have to go abroad on and off for work and our cars just idle around unused.Keeping a car unused/less used has its own share of problems.
These are very peculiar set of problems which one has to face and the repairs are quite expensive ,especially if you own a Ford, like me ,sadly! .Upgrading in such cases does not make sense at all even if one has that extra cash at hand and retaining the existing one also does not either.
So what does one do?

Though this might be a little off track but in a way a little related to the thread.I feel that there should be outlets which will rent/lease a car to you .In this way you can drive the car you want and for what ever time according to the agreement which is the case in many countries in the west.The EMI of say 15 - 20 k which would be paid by you can be diverted for the rent.No down payments, no insurance costs, no depriciation.Return the car when you dont want and the EMI/rent stops.
Indian market will mature hopefully so as to see many car leasing firms.
Thanks
naj

[WanderNomad]

I have a 5 year old Accent, done only 30K and very tastefully kept. Though I bought an SUV recently and need only one car for self, I have no intentions of selling it still as the kind of resale I will get wont make any sense. My office is only 2 kms and thats the reason for 30K in five years.

I would have surely sold it had it been driven a lac kms plus since all its juice would have been extracted but in the present state I find it as good as new.

[supremeBaleno]

@WanderNomad, unless someone else in your family is using the Accent, I guess it would make sense to sell it off than let it rot in the garage. Not only would resale get lower as years go by, maintenance expenses also would increase. And all this when you are going to use only 1 car.

[GTO]

Originally Posted by naj

Return the car when you dont want and the EMI/rent stops.

I don't know of any one offering this type of a lease in any country. Unless, of course, you are talking about a pure rental (which you could do in India too!). Imagine the situation where you pay the EMI / rental for 6 months and then fly off! Who's to suffer the massive depreciation! Leasing is available in India too and, like in other countries, is offered for a fixed minimum period (usually 24 - 60 months).

Originally Posted by supremeBaleno

@WanderNomad, unless someone else in your family is using the Accent, I guess it would make sense to sell it off than let it rot in the garage. Not only would resale get lower as years go by, maintenance expenses also would increase. And all this when you are going to use only 1 car.

I have to agree. If you have no real use for the car, it's just going to take up space in your garage and depreciate. Think of it as 3.5 lakhs in your cupboard drawer which is losing value by the day. Better to sell her off in this case.

[Surprise]

Originally Posted by vij4all

Fantastic thread indeed.


Between mind and heart - Michael Cretu, Enigma

Very interesting read.

Something like my friends ask why you have a muffler in place (extra sound headache @ $$ ) and why do you want to put a FFE or upgrade your tyres when the same OEM tyres can be bought at much lower prices. Iam sure they are not going to accept with my logic and ends the discussion with a simple smile

[rbh]

I own a Opl Corsa 1.6, bought in 2003 and now the meter reads 47K. I havent used much in since end of 2005, but again started using it now -all i did during the gap was get it serviced twice a year, and run atleast 2 months a year spread between 6 months.

the car is in very good condition, but now I started using it in full throttle, and for sure it requires attention and some investment which I dont mind and I belive it can give me good another 70K - 100K depending on maintance...

I think it goes how one wants to balance between used car and going in for a new car. Well in middle calss families having a car itself is great, and for most of them it is like once in a lifetime. but yes I do agree there is a % who change their cars often but contribute to used market segment as well.

thx
rb

[WanderNomad]

Originally Posted by supremeBaleno

@WanderNomad, unless someone else in your family is using the Accent, I guess it would make sense to sell it off than let it rot in the garage. Not only would resale get lower as years go by, maintenance expenses also would increase. And all this when you are going to use only 1 car.

I am not selling the car for multiple reasons:

1. Currently my office is 2 kms but working in the pvt. sector you never know when you shift companies. Whenever there is a change in my work location and the new location is 20 Kms or more (which is most likely), I will get CNG installed in the car and then extract the juice out of it.

2. Dad is currently posted outside Delhi but likely to move back. The car can be used by him then.

3. Mom doesnt want to sell it as she feels the number 9 is lucky (XX XX XX 9999). Thats women!

4. If I sell it, I will have many friends and relatives turned enemies as a couple of them are desirous of owning it lol!

5. And driving it gives me the pleasure of smoothness and refinement of a Petrol engine.

Originally Posted by GTO

Think of it as 3.5 lakhs in your cupboard drawer which is losing value by the day. Better to sell her off in this case.

GTO Sir a 5 year old Accent wont get more than 2 - 2.5L. No point selling her for a 800's price.