may 2005 ford ikon 1.3...2.2lakhs Pune ???

suprateep · 9th January 2009, 19:12

Hi

I am getting a Ford Ikon May 2005 model, 1.3, silver, 29,000 kms, leather seat covers, blankpunt audio system with 4 speaker setup, comprehensive insurance till April 2009 for 2.20 lakhs in Pune from Sanjay Motors. The interiors look good, trim and proper, and the switches seem to be workign fine. Its got power steering and all four power windows and surprisingly all the them are well maintained and well lit.

Do you think its a good buy. I got it checked by a mechanic - there have been no accidents, no paint job save for a few stratches on the left hand front door panel and a longish (4 inch) deeper stratch on the front bonet.

Please advise whether i should buy this?

I wish to sell this off in exactly a years time when i move onsite - the dealer has gauranteed a price of 1.80-1.90 lakhs if i return the car in a same condition as now.

Thanks.

Eddy · 9th January 2009, 19:23

I don't think Ford Ikon commands a good resale value, especially if its going to be a third owner.

What is the authenticity of the dealers guarantee ?

sammyboy · 9th January 2009, 19:25

Come on Eddy, the price is not bad at all if the deal is authentic.
Hey I have a 2005 make

Eddy · 9th January 2009, 19:28

Price is fine. I am worried about the price he would get after a year.
I have a 2004 make that is not fetching me anything :(

BTW: Suprateep Maitra ?

suprateep · 9th January 2009, 19:35

well i guess since its a big dealership i have to go by their words. I am absolutely new to Pune and this place was suggested by one of my colleagues. Most Ikons say from 2002-2004 go for usually 1.7 atleast in Pune. That's what the market suggested - I visited over 10 dealerships alone in the last week. thats the usual norm.

Advice?

suprateep · 9th January 2009, 19:43

Quote:

Originally Posted by Eddy

Price is fine. I am worried about the price he would get after a year.
I have a 2004 make that is not fetching me anything :(

BTW: Suprateep Maitra ?

Thanks Eddy. That's what I am worried about most. On paper the deal looks great.

I can alternately go for a new Swift VXI ABS but I may have to transfer the car back home after a few months. Re-registration will hurt a lot - although my brother continues to use his 4 year old Alto back home with a UP registration without any problems. Plus he is getting a cool 1.5 lakhs exchange bonus if he opts for a new maruti.

Advice??

supremeBaleno · 9th January 2009, 20:07

Quote:

Originally Posted by Eddy

I have a 2004 make that is not fetching me anything :(

As per carwale.com, the approximate price that your Flair (depending on the condition of the car) will fetch, if sold to individual buyer is :
Excellent : 2.52 Lakhs
Good : 2.42 Lakhs
Fair : 2.28 Lakhs

I am guessing you would have paid around 4.75 lakhs for the car when bought new. 50% depreciation in 4+ years is not that bad IMO. Or is it ?

Eddy · 9th January 2009, 20:17

I paid 5.25 OTR when I bought it in Sep 04. It has done 55k km and in a fair condition I would say. When I asked Ford to evaluate it in December 06, they mentioned 2.2 Lacs.

I don't know how credible Carwalre figures are, but if they are true, I would be more than happy to change my opinion.

suprateep · 9th January 2009, 20:38

this is a question of a third owner when i sell of the car so at a constant 10% depreciation provided the car condition stays almost the same (which btw it is) - an asking price of 1.9 laks wont be bad next year, eh???

car'zy · 9th January 2009, 22:54

Ikon Prices had hit rock bottom here in Bangalore, infact, it is the most common car in any used car dealership and available in plenty.I would say bring it down further. And, pls dont go by dealer guarantees! They dont take much time changing colors. More importantly, its hard to predict whats going to happen one year down the line!

Eddy · 10th January 2009, 00:03

See its a two way thing. The resale value is less and hence you might get a good deal when you buy the car but lose when you sell it. So probably it will balance out.

You may pay a premium of about 20-30k if the car is really maintained well, but since it is a ikon, I would suggest you get these tested specially if possible:
- Ignition Coil
- Fuel Pump
- Suspension / Bushes
- Power steering rack (check for leakage specially)
- Break pads

I am assuming that you are checking the insurance claims etc. And if the car has extended warranty, then it will be a bonus.

PS: If you are who I think you are, congrats for the li'l girl

suprateep · 10th January 2009, 00:41

this makes my life so much easier...............

Well thanks guys. Will haggle with the dealer after a through inspection tomorrow and see if the prices get down further. What I understood in Pune (should be true for other markets as well) - the prices are totally dealer controlled. There were at least 20+ used car dealers close by and they were quoting similar or higher prices.

Another problem is my next (rather first) alternative palio sport is not available at any used car dealerships at this moment (there was a 1.2 but it seemed to be falling apart (rather strange for a palio - probably blame the owner for that).

Well if this does not fall through then its a clear choice beween a new Swift VXI ABS and the Palio 1.6 Sport - we all know what is the better option. Too bad though palio does not come with an ABS option.

Wish the Fiat management took some insights and feedback from the opinion leaders. Thanks BHPians.

PS: BTW Eddy thanks. You got that right - so may i know who you are exactly?

car'zy · 10th January 2009, 15:05

Quote:

Originally Posted by Eddy

- Ignition Coil
- Fuel Pump
- Suspension / Bushes
- Power steering rack (check for leakage specially)
- Break pads

I am assuming that you are checking the insurance claims etc. And if the car has extended warranty, then it will be a bonus.

Ditto - The above mentioned are the exact problems I have had! Got a sense of deja vu reading the list!

These are the must checks!

9th January 2009, 19:12	#1
suprateep BHPian Join Date: Jan 2009 Location: Calcutta, Pune Posts: 98 Thanked: 0 Times	may 2005 ford ikon 1.3...2.2lakhs Pune ??? Hi I am getting a Ford Ikon May 2005 model, 1.3, silver, 29,000 kms, leather seat covers, blankpunt audio system with 4 speaker setup, comprehensive insurance till April 2009 for 2.20 lakhs in Pune from Sanjay Motors. The interiors look good, trim and proper, and the switches seem to be workign fine. Its got power steering and all four power windows and surprisingly all the them are well maintained and well lit. Do you think its a good buy. I got it checked by a mechanic - there have been no accidents, no paint job save for a few stratches on the left hand front door panel and a longish (4 inch) deeper stratch on the front bonet. Please advise whether i should buy this? I wish to sell this off in exactly a years time when i move onsite - the dealer has gauranteed a price of 1.80-1.90 lakhs if i return the car in a same condition as now. Thanks.
	() Thanks

9th January 2009, 19:23	#2
Eddy Team-BHP Support Join Date: Apr 2007 Location: Delhi Posts: 9,388 Thanked: 13,303 Times	I don't think Ford Ikon commands a good resale value, especially if its going to be a third owner. What is the authenticity of the dealers guarantee ?
	() Thanks

9th January 2009, 19:25	#3
sammyboy Senior - BHPian Join Date: Jul 2006 Location: Ggn/Dehradun Posts: 1,842 Thanked: 521 Times View My Garage	Come on Eddy, the price is not bad at all if the deal is authentic. Hey I have a 2005 make
	() Thanks

9th January 2009, 19:28	#4
Eddy Team-BHP Support Join Date: Apr 2007 Location: Delhi Posts: 9,388 Thanked: 13,303 Times	Price is fine. I am worried about the price he would get after a year. I have a 2004 make that is not fetching me anything :( BTW: Suprateep Maitra ?
	() Thanks

9th January 2009, 19:35	#5
suprateep BHPian Join Date: Jan 2009 Location: Calcutta, Pune Posts: 98 Thanked: 0 Times	well i guess since its a big dealership i have to go by their words. I am absolutely new to Pune and this place was suggested by one of my colleagues. Most Ikons say from 2002-2004 go for usually 1.7 atleast in Pune. That's what the market suggested - I visited over 10 dealerships alone in the last week. thats the usual norm. Advice?
	() Thanks

9th January 2009, 20:17	#8
Eddy Team-BHP Support Join Date: Apr 2007 Location: Delhi Posts: 9,388 Thanked: 13,303 Times	I paid 5.25 OTR when I bought it in Sep 04. It has done 55k km and in a fair condition I would say. When I asked Ford to evaluate it in December 06, they mentioned 2.2 Lacs. I don't know how credible Carwalre figures are, but if they are true, I would be more than happy to change my opinion.
	() Thanks

9th January 2009, 20:38	#9
suprateep BHPian Join Date: Jan 2009 Location: Calcutta, Pune Posts: 98 Thanked: 0 Times	this is a question of a third owner when i sell of the car so at a constant 10% depreciation provided the car condition stays almost the same (which btw it is) - an asking price of 1.9 laks wont be bad next year, eh???
	() Thanks

9th January 2009, 22:54	#10
car'zy BHPian Join Date: Jul 2006 Location: Bangalore Posts: 100 Thanked: 0 Times View My Garage	Ikon Prices had hit rock bottom here in Bangalore, infact, it is the most common car in any used car dealership and available in plenty.I would say bring it down further. And, pls dont go by dealer guarantees! They dont take much time changing colors. More importantly, its hard to predict whats going to happen one year down the line!
	() Thanks

10th January 2009, 00:03	#11
Eddy Team-BHP Support Join Date: Apr 2007 Location: Delhi Posts: 9,388 Thanked: 13,303 Times	See its a two way thing. The resale value is less and hence you might get a good deal when you buy the car but lose when you sell it. So probably it will balance out. You may pay a premium of about 20-30k if the car is really maintained well, but since it is a ikon, I would suggest you get these tested specially if possible: - Ignition Coil - Fuel Pump - Suspension / Bushes - Power steering rack (check for leakage specially) - Break pads I am assuming that you are checking the insurance claims etc. And if the car has extended warranty, then it will be a bonus. PS: If you are who I think you are, congrats for the li'l girl
	() Thanks

10th January 2009, 00:41	#12
suprateep BHPian Join Date: Jan 2009 Location: Calcutta, Pune Posts: 98 Thanked: 0 Times	this makes my life so much easier............... Well thanks guys. Will haggle with the dealer after a through inspection tomorrow and see if the prices get down further. What I understood in Pune (should be true for other markets as well) - the prices are totally dealer controlled. There were at least 20+ used car dealers close by and they were quoting similar or higher prices. Another problem is my next (rather first) alternative palio sport is not available at any used car dealerships at this moment (there was a 1.2 but it seemed to be falling apart (rather strange for a palio - probably blame the owner for that). Well if this does not fall through then its a clear choice beween a new Swift VXI ABS and the Palio 1.6 Sport - we all know what is the better option. Too bad though palio does not come with an ABS option. Wish the Fiat management took some insights and feedback from the opinion leaders. Thanks BHPians. PS: BTW Eddy thanks. You got that right - so may i know who you are exactly?
	() Thanks