Team-BHP - Does it make sense to retain petrol cars, considering the frequent fuel hikes?

I love to go on long drives and thanks to the congestion in cities the car is become a tourer only. considering the usage "petrol" is for sure going to burn a hole in the pocket esp on long drives..

but the good factor is i dont have a emi on this car!
Only thing is occasional maintenance which i need to worry about.

that said what will be a scenario if i want to pick a diesel vehicle which is about 8+lacs?

- 11+k of emi even after putting about 2lacs of down payment
- close to 1.8lacs on interest, i,e for 5years
- And obviously sell off the existing Petrol car for a very low price

The above is my scenario and going by the way it looks above i still feel holding on to my petrol car as it will be far reasonable!

am sure many are in the ame state as me, what will one do in a scenario like this?

Sell or retain???

mods, please move this thread if required to the relevant section.

I see the opportunity to buy some extremely desirable cars at drool worthy prices. FE be damned! :D .Seriously.. I think this is the perfect time for anyone looking to buy a used car as a second car or a weekend car. You can get some really good examples at throwaway prices.

For all other practical purposes, you gotta have a diesel mill at home.

Quote:

Originally Posted by white-rabbit (Post 2507457)

I dont know what to say,I purchase my car in August 2010. The fuel price is killing now.If I am not wrong,Bangalore has the hieghest fuel price and I live in bangalore

I am in exactly the same boat. Bought in sept 2010 when the price was Rs 57 odd and its already up by Rs 18 and with no guarantee it won't be increased next month.

Quote:

Originally Posted by markmytravel (Post 2507480)

I am in exactly the same boat. Bought in sept 2010 when the price was Rs 57 odd and its already up by Rs 18 and with no guarantee it won't be increased next month.

It is going to increase today midnight by 3.25 or so

Quote:

Originally Posted by lohithrao (Post 2507355)

but the good factor is i dont have a emi on this car!

This one reason is enough to forget buying a new car :) You are running a FREE car sir. So, fill it, shut it and forget it.

Buy a car if the existing one is giving issues and difficult to maintain, else use it to core. Its an depreciating liability (i don't even like to mention as asset), so my vote goes for retaining the car.

Quote:

Originally Posted by white-rabbit (Post 2507457)

I dont know what to say,I purchase my car in August 2010. The fuel price is killing now.If I am not wrong,Bangalore has the hieghest fuel price and I live in bangalore

Quote:

Originally Posted by markmytravel (Post 2507480)

I am in exactly the same boat. Bought in sept 2010 when the price was Rs 57 odd and its already up by Rs 18 and with no guarantee it won't be increased next month.

Same dilemma here as well. When I purchased the I10 in Dec 2010, petrol was Rs 56; it's now Rs 63 and the midnight increase will take it to about Rs 66. In contrast, diesel is around Rs 43 per litre. With every petrol price hike, I have to think twice before sitting in the car.

mjothi, yes you nailed it. even i felt the same selling this baby wont fetch me good price and it wont be sensible given all the maths i put upthere, so i guess will try to run it to the max:)

btw, whiterabbit, markmytravel and misquitas, i believe most of you guys would have bought it on loan and in this scenario it definitely would hurt and i dont know what i would have done here...

why don't you guys give CNG a try:confused:

I to have a petrol ride, since the fuel hike in the recent times, i have restricted my usage from Daily Office Commute to twice in week commute :mad:

I think in this rate, petrol will reach the Rs100 mark in a year or two.

That 10k of emi would give you 130 liter of petrol instead. and that should be more than most people's average monthly need.
if you buy a diesel car, you would need to pay 10k emi plus about 6k for fuel which would buy you 130 odd liters of diesel.

plus our fickle government might get the dual pricing thing sometime soon

We own three petrol vehicles - one bike and two cars. My WagonR's EMIs are finishing in april 2012. Thinking of getting it replaced with a diesel/CNG vehicle later next year. But that will again cause monthly moolah deductions.

As of now I have no immediate plans of switching the car/fuel. But yes those weekly bunks with friends and visit to CCD has to be reduced:D.

One of my friend bought a Swift VXi in august and he is already running his brand new Swift on after market CNG kit @ just 1400 Kms.:deadhorse

Retain and use your existing car buddy. The Auto loan rates are also going up. Being free from paying EMI and using an automobile is like attaining Nirvana.

I was also in the same dilemma. But came to a conclusion of holding on to the present car for another 2 years.

about 70Rs for a litre of petrol?! i would LOVE to pay that!!! work out to about £0.90, whereas at the moment we are staring down the barrel of about £1.40 a litre, with yet more rises in the pipeline due to the chancellors duty escalator...

as a result, the fleet that i accumulated over the last few years, has been brutally cut back. exclusive petrol power, in the form of golf gti, alfa 155 v6, peugeot 205 gti, countless unos, a foray into x1/9 hell has been rationalised to the diesel fiat multipla (yes diesel is 3-4 pence a litre more expensive, but gives about 45-55mpg depending on driving style). a fiat panda for the wife to run about town, small but still faithfully returns 43mpg day in, day out, and does the second family car job perfectly.

the ace, is the uno turbo, drinks like a fish, farts and pops on overun like a warthog with bad indegestion, and satisfies my need to be a hooligan on the days when getting "there" is secondary to having some fun.

so my solution? if it can be called that...buy a fleet, the sensible one, for most days, the mini sensible one for the other half, and the bad *** indulgent one to annoy the enviromentalists, and your neighbours on a sunday morning.
:D