[n.devdath]

Originally Posted by aadya

I currently have a April 2013 CRDI Hyundai I20, has done 76000km, nothing wrong with the car, can run it for another couple of years. But missing the boot space when travelling with family and slight fear when driving on the highways.

6.Safety>Reliability>Space>Comfort>Ease are my priorities. Fun is not my requirement but driveability is.

To start with, please close the loan and get a closure letter in writing from BF.

Now, the lack of boot space does become evident in a hatchback after some time and if it troubles you every time you travel with your family, it is time to get another car, especially since you have another hatchback.

Coming to the options, you seem to be okay with a sedan going by your requirements, I would suggest you look at one of these:

1. Ciaz/new Verna.
2. Creta.
3. A sparingly used XUV AT.
4. The upcoming Ecosport AT.

[2000rpm]

Since you are open to pre-owned but not keen on German Luxury cars. Why not get a car like a pre owned civic for about 5 lakhs spend a lakh on spicing it up and use the remaining 10 lakhs for something else.

This way you don't compromise on any requirements.

[GTO]

Originally Posted by aadya

Of course I know the answer in TBHP - Buy a car.

But come mid 2016 interest rates have crashed, I have saved enough to close the loan and the company arbitrarily decides to levy a closure charge. Bang.

So, what you are saying is you got the cash to foreclose this loan, but now don't want to because of a closure charge? Shouldn't make a difference to your decision. Look up the agreement if foreclosure was waived off.

Nevertheless, even if they take a charge, it's usually a small %. Just go ahead & close the loan. I HATE EMIS; remember, how you behave in your good times dictates how you will weather through the bad times.

I currently have a April 2013 CRDI Hyundai I20, has done 76000km, nothing wrong with the car, can run it for another couple of years. But missing the boot space when travelling with family and slight fear when driving on the highways

She's clearly serving you well, so hold onto her. When you need more boot space, rent from Zoom, Myles etc.

Come back to the "What Car" forum in 3 - 4 years and we'll discuss the Compass AT you have your eyes set on.

[aadya]

Originally Posted by StepUP!

Do you really need to a car? I don't think so. IMHO, don't invest in a depreciating asset wasting your 15L. For occasional outstation trips there is always a zoom car having wide choices from Innova to Endeavor to Q3.

Originally Posted by pradkumar

Hi,
Can I provide a contrarian view?
Pradeep

Thanks. I try doing that - using a rental car - problem is I am a doctor and family health emergencies arise way too often. If my travel is towards a weekend and a with holidays in the vicinity getting a decent rental car becomes a difficulty. Otherwise I prefer Railways for planned travel.

Originally Posted by VW2010

Did you really say you cheated a bank of their legal payment for a loan they gave and now you want to use that money to buy a new car?

Originally Posted by selfdrive

I think he meant to say he would not pay anything additional in terms of prepayment charges and intends to repay by instalments..

Originally Posted by jayantvs

Also while taking the loan from Bajaj Finserv did they mention anywhere in the documents that preclosure would be allowed without any charges. If yes, they you can argue your case with them and agree upon on a preclosure without charges or at a lower charge.

Selfdrive described it right. I very much keep paying the EMIs. It was clearly mentioned in the agreement but they also always insert a clause telling that terms may change in the future. I just don't have the appetite to deal with these tricksters. So I let it go. And also the tax benefit due to business loan interest and the foreclosure charges are almost equal and maxgain gives liquidity so I parked it in it.

Originally Posted by landcruiser123

Doesn't your i20 have rear discs? Driving on Indian highways is a risk which is minimized by driving all mass market cars at 100 kmph or lesser.
If you're hell bent on buying a car and requirements allow it, I'd suggest you sell both cars and buy a Creta diesel AT. That way- you can fire your driver (Inhuman, I know) and spend for insurance & maintenance on just one car.
Else, buy the City CVT.

Yes it has discs in the rear. I still love to drive this CRDI in the highways and I don't consciously drive at higher speeds. But in open stretches it just keeps going like a higher segment car. When I bought this car my finances where very limited and I always thought of upgrading to Honda, that was in 2013. Now almost five years down the lane I feel like I would be downgrading to Honda. Family has a Honda CVT, its drive is superb but somehow I feel I am in a Maruti-Suzuki, not Honda.

[Tapish]

Originally Posted by aadya

Selfdrive described it right. I very much keep paying the EMIs. It was clearly mentioned in the agreement but they also always insert a clause telling that terms may change in the future. I just don't have the appetite to deal with these tricksters. So I let it go. And also the tax benefit due to business loan interest and the foreclosure charges are almost equal and maxgain gives liquidity so I parked it in it.

Maybe all of us have collectively become very risk averse these past few years, but I would also go with the flow here to advise you to foreclose.

The maxgain option makes sense only if you hold onto your cars and earn the money from maxgain while paying your EMI. If you keep paying the emi as before and spend all of the liquid cash on a car, you will be back at square one.

If you foreclose though, you can look at a lateral upgrade with minimal cash outflow. A slightly used Terrano/ Duster or a 2015 City will be perfect for your use.