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

lohithrao · 15th September 2011, 18:35

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.

white-rabbit · 15th September 2011, 19:55

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

dhanushs · 15th September 2011, 20:03

I see the opportunity to buy some extremely desirable cars at drool worthy prices. FE be damned!

.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.

markmytravel · 15th September 2011, 20:04

Quote:

Originally Posted by white-rabbit

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.

white-rabbit · 15th September 2011, 20:23

Quote:

Originally Posted by markmytravel

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

ramki067 · 15th September 2011, 20:29

I just filled my bike with Rs.800/- of petrol. Hope not to visit the pump for the next 15 days!

mjothi · 15th September 2011, 20:33

Quote:

Originally Posted by lohithrao

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.

misquitas · 15th September 2011, 20:35

Quote:

Originally Posted by white-rabbit

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

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.

lohithrao · 15th September 2011, 20:47

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...

jp2u · 15th September 2011, 20:55

why don't you guys give CNG a try

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

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

white-rabbit · 15th September 2011, 21:21

Bangalore,price of normal pertol will touch(or cross) 74 now.Petrol price+B2B traffic+daily28km commute=

I think its time to quit shell super petrol

ak916 · 15th September 2011, 23:49

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

bluevolt · 15th September 2011, 23:57

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

.

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.

Torque123 · 16th September 2011, 00:15

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.

jai-uno-t · 16th September 2011, 02:58

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.

15th September 2011, 18:35	#1
lohithrao Senior - BHPian Join Date: Feb 2007 Location: Kudla/Mangaluru Posts: 3,204 Thanked: 225 Times View My Garage	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.
	() Thanks

15th September 2011, 19:55	#2
white-rabbit BHPian Join Date: Jul 2011 Location: Bangalore Posts: 282 Thanked: 35 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? 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
	() Thanks

15th September 2011, 20:03	#3
dhanushs Distinguished - BHPian Join Date: Oct 2009 Location: Chennai Posts: 4,282 Thanked: 10,180 Times	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? I see the opportunity to buy some extremely desirable cars at drool worthy prices. FE be damned! .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.
	(2) Thanks

15th September 2011, 20:29	#6
ramki067 BHPian Join Date: Sep 2006 Location: BANGALORE Posts: 610 Thanked: 35 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? I just filled my bike with Rs.800/- of petrol. Hope not to visit the pump for the next 15 days!
	() Thanks

15th September 2011, 20:47	#9
lohithrao Senior - BHPian Join Date: Feb 2007 Location: Kudla/Mangaluru Posts: 3,204 Thanked: 225 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? 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...
	() Thanks

15th September 2011, 20:55	#10
jp2u BHPian Join Date: Oct 2007 Location: chennai Posts: 237 Thanked: 21 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? why don't you guys give CNG a try 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 I think in this rate, petrol will reach the Rs100 mark in a year or two.
	() Thanks

15th September 2011, 21:21	#11
white-rabbit BHPian Join Date: Jul 2011 Location: Bangalore Posts: 282 Thanked: 35 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? Bangalore,price of normal pertol will touch(or cross) 74 now.Petrol price+B2B traffic+daily28km commute= I think its time to quit shell super petrol
	() Thanks

15th September 2011, 23:49	#12
ak916 BHPian Join Date: Mar 2007 Location: Bangalore/Hyder Posts: 312 Thanked: 293 Times	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? 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
	() Thanks

15th September 2011, 23:57	#13
bluevolt Senior - BHPian Join Date: Jan 2011 Location: New Delhi Posts: 3,274 Thanked: 3,474 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? 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. 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. Last edited by bluevolt : 15th September 2011 at 23:59.
	() Thanks

16th September 2011, 00:15	#14
Torque123 BHPian Join Date: Jan 2008 Location: Bangalore Posts: 453 Thanked: 990 Times	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? 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.
	() Thanks

16th September 2011, 02:58	#15
jai-uno-t BHPian Join Date: Aug 2008 Location: london Posts: 68 Thanked: 73 Times View My Garage	Re: Does it makes sense to retain petrol cars, considering the frequent fuel hikes? 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.
	(2) Thanks