Ok everyone,
Here is the story. My family has a 1999 Toyota Prado TZ (3.0 turbo-diesel) and we also had a Honda Accord which we bought in 2004). The Prado needs a fair bit of work done to it including a complete suspension overhaul, tyre change and possibly an interior overhaul.
The Accord got totaled a couple of months back and we were told by the Honda people that we have two options a) we get it fixed for 6lakhs or b) we give whatever is left of the car back to them for 6 lakhs. We decided to go for the latter option and get the money and then look for something new and we had to choose between keeping the Prado and getting it fixed and getting another car, or selling that as well and getting an SUV.
This is where the problem lies. Our budget is still in the range of 20-25 lakhs (including the Prado overhaul cost). We aren't sure if
1) We should totally redo the Prado and get it a new paint job, custom interiors, ICE and the works. That way we can keep it for the next 4-5 years without a problem (at which point my dad wants to go in for a luxury SUV like an Audi Q7). And for now go in for a lower range sedan like the ANHC or a premium hatch like the Jazz to complement the SUV for doing stuff like grocery shopping etc.
2) We should fix up what is absolutely necessary in the Prado (suspension, tyres etc) and buy a luxury sedan like the new Accord V6 or a second hand BMW 5-series (close to the upper end of the budget)
3) Sell the Prado (we got an offer for 4-5 lakhs) and then spending a bit more and getting a current SUV like a Captiva or a C-RV (something within 25lakhs). We decided that this was NOT a good option because no vehicle right now would offer the interior space or the high powered diesel or the road presence of our existing Prado(even the current prado is smaller). Also, we wouldn't have the convenience of having two vehicles.
4) Not likely but another option being looked at is the possiblity of selling the Prado as well and going in for a second hand luxury SUV like the Q7.
5) Last and my least favorite option. Sell the Prado, get an Innova for the space (and comfort for long drives) and another small car to complement. My dad and I would definitely not want this option even though my mom suggested it because of the practicality.
So right now, I'm looking for some kind of advice (any advice at all) for what we should do
. There are wayy too many possibilities, each with their pros and cons and I feel like this forum is the best place to get help/advice.
I've listed below some of the main requirements so that it might make things easier.
Cars short listed -- None but Hondas are favoured because we love the refinement
Price range -- max 25 lakhs but if something special comes along then it could be flexed a little further (like a second hand Q7 for 30-35 lakhs)
Maintenance & After Sales Service (A.S.S.) expectations -- has to be decent. I've read enough horror stories about Skoda so preferably not something that bad. We've had a decent experience with Honda thus far so preferably as good as, if not better than that
Average distance traveled per month -- ranges between 2000-3000km
Where car will be mostly used (city / highway / rough roads etc) -- city and highway. Extremely rarely on rough roads except on the rare occassion that we plan to go to someplace like Badrinath
Chauffer driven / self driven -- both, we have a chauffeur but if the car is fun to drive my dad would not let him drive.
Whether the vehicle will be shared by other members of family -- It will be either my dad or me in terms of driving. It will be used by all members though.
Any specific requirements from car (ex. Better luggage space, responsive engine, rear seat comfort)
Rear Seat Legroom, Width and Comfort are all EXTREMELY IMPORTANT.
This is primarily because if the entire family is travelling it will be my mom, dad and brother in the rear seat.
Responsive Engine is also an important aspect. It has to be at least moderately fun to drive and not bore you.
In case of the SUV, a 7 seater is preferred. Also, for any option, iPod compatibility would be desirable but it isn't a deal breaker.
How long you intend on keeping this car (and how important resale is to you) -- Depending on the option, 3-5 years and resale is fairly important (it shouldn't depreciate to like a 10th of its value in that time)