[arpanjha]

I just came across an ad for a used Nexon EV XZ+ Lux 2020 registered, approx 21k run, listed for 14.69 Lakhs (which I know is negotiable). Is this a good idea? I have been watching the EV space, I do see a huge demand in used EV space in the west, but India is a new playground for this.
What are the things I should look for even before considering?

[furyrider]

As most of the members already pointed out, an EV suits your requirements. However, since you have mentioned that you are unwilling to have a car loan, and drive through rough patches, you might as well consider the Sonet diesel automatic. Apart from the questionable safety, the car suits you even better.

[Shreyans_Jain]

Originally Posted by arpanjha

I just came across an ad for a used Nexon EV XZ+ Lux 2020 registered, approx 21k run, listed for 14.69 Lakhs (which I know is negotiable). Is this a good idea? I have been watching the EV space, I do see a huge demand in used EV space in the west, but India is a new playground for this.
What are the things I should look for even before considering?

Do not go for the basic Nexon EV. Tigor EV is much better to drive, and the Nexon EV Max takes it to the next level. Choose between these two. If you want to go down the pre owned route look for ZS EVs only.

[tarunjain]

Originally Posted by arpanjha

On an average I end up spending about 12k to 13k a month on Petrol.

Originally Posted by arpanjha

EVs currently on offer are out of my budget

Originally Posted by arpanjha

Or, book one of the 2 EVs available, filling the budget gap with a loan (which I have started hating the idea of a loan for a car since last 2/3 years).

Arpan, the EV may not be out of your budget all that much. You are already spending 12-13k on fuel every month. Switching to an EV will save you 10k per month. That's enough to cover EMI for a loan amount of 6-7L. This is 1/3rd of the cost of a Nexon EV. In other words, with your kind of running, your effective cost of an EV is 2/3rd of the sticker price!

Also, while new EV models may get introduced which will be a few lakhs cheaper, do keep in mind that currently due to govt subsidies (most states have zero road tax), you are already saving a few lakhs. It's difficult to predict for how long will these subsidies last. If cheaper EVs get launched (say Altroz EV), but subsidies go away, the required budget will still be the same.

[charanreddy]

If I were you, I would look at the total cost of ownership and running. Your usage is on an average 2500 - 3000 kms per month. With petrol costs coming close to Rs 10 per KM and electric being a fraction of that , you can save close to rs 15K or so every month. Add less maintenance headaches and costs for electric. If you wish to retain your existing car for the occasional long drive, the Nexon EV makes a ton of sense.

[arpanjha]

Originally Posted by tarunjain

Arpan, your effective cost of an EV is 2/3rd of the sticker price!

Also, while new EV models may get introduced which will be a few lakhs cheaper, do keep in mind that currently due to govt subsidies (most states have zero road tax), you are already saving a few lakhs. It's difficult to predict for how long will these subsidies last. If cheaper EVs get launched (say Altroz EV), but subsidies go away, the required budget will still be the same.

You have a valid & reasonable point. Let me check on my loan calculations.

Originally Posted by charanreddy

If I were you, I would look at the total cost of ownership and running. Your usage is on an average 2500 - 3000 kms per month. With petrol costs coming close to Rs 10 per KM and electric being a fraction of that , you can save close to rs 15K or so every month. Add less maintenance headaches and costs for electric. If you wish to retain your existing car for the occasional long drive, the Nexon EV makes a ton of sense.

Yes, quite true. I rarely do long drives > 300 Km, maybe last done 5 years back, so that is not a determining factor right now. I can certainly go for the EV only as of now.
All I have to do is convince myself for a loan

[Phantom 510]

Nexon EV all the way. It's a more sensible purchase over the Max variant if you are planning to use it for the commutes. The extra money saved over the equivalent Max version would cover your expenses for almost a lakh kms of daily commute. However, if you're okay with other body styles then the Tigor EV would be an excellent choice as well. It's smaller, built tough, good pep, good price (with incentives in place) and a very respectable range as well.

[SmartCat]

Originally Posted by arpanjha

Looking for sound unbiased advise as always

Buying an EV car to save money is being penny-wise and pound-foolish. Think about an EV's high initial costs, higher interest payments, higher insurance costs and possibly low resale value, when compared to its petrol AT variant. Financially, an used Swift/Dzire diesel AMT or used Hyundai Verna diesel AT makes sense, but availability might be an issue. Next logical choice would be new (not pre-owned) cheapest diesel automatics like Honda Amaze or Kia Sonet.

However, I think you are putting too much weightage on daily running costs. This greatly reduces your shortlist of vehicles. Instead, go for turbo-petrol automatics which will cut your fuel bills by 10% to 20%.

Start with this (since 2016 Hyundai i20 is your current daily driver):
https://www.team-bhp.com/forum/offic...ml#post4929165 (Hyundai i20 Review)

[arpanjha]

Originally Posted by SmartCat

Buying an EV car to save money is being penny-wise and pound-foolish. Think about an EV's high initial costs, higher interest payments, higher insurance costs and possibly low resale value, when compared to its petrol AT variant

Actually, I have made quite a few excel sheets with formulae for various scenarios. All of them are neck to neck . Hence the dilemma, else I would have taken the decision by now. The feel or push within is towards an EV. It is kind of a toss situation now with a sound and informed toss

[SinghBHP]

Originally Posted by arpanjha

Actually, I have made quite a few excel sheets with formulae for various scenarios. All of them are neck to neck . Hence the dilemma, else I would have taken the decision by now. The feel or push within is towards an EV. It is kind of a toss situation now with a sound and informed toss

If it is only fuel expenses you are worried about so this is what I think.......
1) Reading from your post I am made to believe that you love your car and it is in a good condition.
2) it is just the fuel expense which is driving you to look for new car.
3) You do not want to buy a second hand car
4) The cars you are looking for (like Nexon EVs) are higher side of 9 - 10 lacs or even more. Even the turbo petrol or diesels are in the similar range.
5) You are concerned about spending high on new car.

Unless I am wrong in any of above listed points - Analyzing above points I'd say that do not buy a new car just for expenses on fuel . I understand it hurts daily however create one more excel and calculate current petrol expenses per month and divide the cost of ownership of a new car with it. You will get to know for how may years you can drive this car at same expense. Believe me you will still be in profit. If you really have 9 - 10 lacs to spend then invest it and profits can help you buy monthly fuel/

Sometime we sell old things just because new ones are saving you some money like 5 star ACs saving. However the old ones sell for penny , new ones are expensive and you end up spending higher amount than what we plan to save.

[ajayc123]

That’s a very sensible argument and I am sold on it. The depreciation incurred on the new car will exceed the saving achieved by reduced running expense by switching to electric. So, it will not really address the financial concerns of the OP.

[MT_Hyderabad]

You basically need a driver.
My office is also 50 km away from home. Mostly it takes 1.5 hours, one way; thanks to ORR and Highway sections. However, all those colleagues, who were driving for 5 days a week, later opted for a driver. They all loved driving, 2 of them had automatics, but it was still a pain to drive the city sections, daily.
You will still need to wait for 2 hours for traffic to improve everyday etc.
Now the maths.
You retain your old car. Benefit of 3 to 4 lakhs.
You do not invest in an EV or a Diesel automatic. Benefit of 15 lakhs at least.
Same old insurance, no heavy insurance premiums for a new car. Saving of 30k per year.
Get a CNG kit installed and get a driver. I don't know if you can get a driver only for three days/week and you drive for the rest of the 3 days.
If you invest this 20 lakh benefit at 10 percent gain, you have a break even with the driver salary of 17k/month already, and your prospective EV doesn't depreciate.

[busydrive]

Go for Amaze diesel CVT. And take their full extended warranty.
EV technology I feel is evolving and few years down the line there will be better options. Problem is you cannot swap battery even if newer tech hits the market if you buy a car now.

[lamborghini]

If you're willing to stretch to Nexon EV Max pricing, I would also wait and see the pricing for the Toyota Hyrider Strong Hybrid.
If priced well, it could be what the doctor ordered.

[SinghBHP]

Originally Posted by SinghBHP

If it is only fuel expenses you are worried about so this is what I think.......
1) Reading from your post I am made to believe that you love your car and it is in a good condition.
2) it is just the fuel expense which is driving you to look for new car.
3) You do not want to buy a second hand car
4) The cars you are looking for (like Nexon EVs) are higher side of 9 - 10 lacs or even more. Even the turbo petrol or diesels are in the similar range.
5) You are concerned about spending high on new car.

Unless I am wrong in any of above listed points - Analyzing above points I'd say that do not buy a new car just for expenses on fuel . I understand it hurts daily however create one more excel and calculate current petrol expenses per month and divide the cost of ownership of a new car with it. You will get to know for how may years you can drive this car at same expense. Believe me you will still be in profit. If you really have 9 - 10 lacs to spend then invest it and profits can help you buy monthly fuel/

Sometime we sell old things just because new ones are saving you some money like 5 star ACs saving. However the old ones sell for penny , new ones are expensive and you end up spending higher amount than what we plan to save.

Adding to what I wrote above - Your car is just ~5.5 years old and can run for more years so if petrol expenses are pinching you can also get a good, reliable CNG Kit installed and save additional money. Investing in a new EV at higher side of 10 Lacs until you really want to buy (sometimes we petrolheads find reasons to buy new toys ) may not be a good value for your money.