[ank.nsit]

Originally Posted by MaxTorque

Guys a small information. Finance Ministry is scanning all Know Your Customer (KYC) documents submitted during car purchases and sending notice to many owners who have submitted incomplete documents. Due to this many new cars are hitting used car market with huge discounts. So be careful if the vehicle is very new and offered at a generous discount.

Source :- Moneylife - Print Edition

Will it be a problem to buy such cars? If we make sure that while transferring the car to our name we submit all the proper documents, I don't think that should cause any problem.
Also, as this move is being initiated by the Finance ministy, I don't think RTO will cause any problem in transferring the ownership of such cars?

[anks_at]

Originally Posted by asit.kulkarni93

We have been offered two cars in pune. This is for me And my mom to learn on-
1. 2006 santro xing xo.
Odo - 48xxx kms
Price-2.3 lakhs
2. 2002 santro ( the one with front two power widows and power steering)
Odo-89xxx kms
Price-1.4 lakhs.
I feel the price is on higher side. The xing is excellent condition whereas the santro needs some work to be done. The owner has agreed to get things sorted. What should I quote?

These prices are way overpriced.
Eg: I sold my 2003 Santro Xing XG Automatic around 6 months back in Delhi. I could only manage 95k. The car condition was just ok-ish. It needed new brake pads, engine oil & 2 tyres by the new owner. The battery was new though.
How can the 2002 Santro (not even the Xing model I think?) be 1.4 lakhs. That price is easily double or more of what it is worth.
The other 2006 Santro too is overpriced approx by almost a lakh too.

[C'estlavie]

Are carwale's used prices a benchmark that line should go by?

The reason I'm asking is that I have been made an offer (say Rs X) for a second hand car- which could reasonably be said to be in 'excellent condition'. However when I key in the car details on carwale, their suggested price is lower by Rs 50,000 (i.e. Rs X - 50,000).

How should I be looking at this?

[anks_at]

Originally Posted by C'estlavie

Are carwale's used prices a benchmark that line should go by?

The reason I'm asking is that I have been made an offer (say Rs X) for a second hand car- which could reasonably be said to be in 'excellent condition'. However when I key in the car details on carwale, their suggested price is lower by Rs 50,000 (i.e. Rs X - 50,000).

How should I be looking at this?

Carwale prices (in my experience) are comparable to the ones I get if I go to a dealer in my city. If you can find an individual its your skill & the other person's too as to the final price you agree to but it will usually be higher probably (talking from the point of view of a car seller). Dealer prices are lower because they have to earn a margin.
Others have reported that Carwale prices are generally lower since its controlled by dealers & such.

Another way you can get an idea of the fair price is to look at the IDV of the vehicle in the current policy (provided the owner has not got it increased by an extra premium). Thereon, you subtract further for any issues etc with the car, the car being no longer produced & other -ve feedback surrounding the vehicle.

Yet another way is to get the Ex-showroom price of the car for the year it was sold in. Thereon, you start applying depreciation @10% each year - compounded (& more on vehicles over 10lakhs).You also subtract further for any issues just like in the case above.
Also need to fine tune with certain realities & or market sentiment eg: Tata vehicles depreciate quicker (age fast), Toyota Fortuner should depreciate but does it much slower since you cant find many who sell it at a low price & is quite reliable etc.

[ani_meher]

Originally Posted by asit.kulkarni93

We have been offered two cars in pune. This is for me And my mom to learn on-
1. 2006 santro xing xo.
Odo - 48xxx kms
Price-2.3 lakhs
2. 2002 santro ( the one with front two power widows and power steering)
Odo-89xxx kms
Price-1.4 lakhs.
I feel the price is on higher side. The xing is excellent condition whereas the santro needs some work to be done. The owner has agreed to get things sorted. What should I quote?

Frankly don't quote anything! Why are you buying 8-10 year old vehicles when you are new comer to cars? 50k saved today will cost 1L tomorrow. And the quoted costs are too much in the sky to even comment about.

I will advise following:

1. Maruti K10 around 3L for 1 year old cars (few very low run examples available on car selling website even now)
2. WagonR - will be difficult to find low run OR rationally priced, but will be around 3.8L for 1-2 yrs old
3. Chevy spark - for about 3L - 3.5L you should get a good vehicle.
4. If you are looking for Hyundai, go for i10 (but less mileage) or Eon. Some are available from 3L.
5. If your mom has not tried any geared vehicles, it will be pretty tough to learn a geared car. I hope you have already started class. If not, first take a class atleast for your mom. Because better to buy an auto vehicle which will get used than buying a geared vehicle that remains in the garage. If she can drive a geared vehicle, then go for above, or if searching for auto, you can consider A-star auto (but quite rare in used car market)
6. Buy only vehicles less than 2 yrs old and less than 10-15k running. Lower the better.

As you are a new comer to cars, make sure the cars have some manufacturer warranty pending. Maruti warranties are non-transferable to second owners, but their extended warranties are transferable. All the best.

Originally Posted by anks_at

Also need to fine tune with certain realities & or market sentiment eg: Tata vehicles depreciate quicker (age fast), Toyota Fortuner should depreciate but does it much slower since you cant find many who sell it at a low price & is quite reliable etc.

I noticed that most of the times the resale cost depends on years, kms and present cost of the vehicle. Your buying cost doesn't matter. There was a thread here not too long ago, that described how a used Innova fetches more resale value than its purchase price, because how the new Innova price is increased in past few years.

[anks_at]

Originally Posted by asit.kulkarni93

We have been offered two cars in pune. This is for me And my mom to learn on.

Originally Posted by ani_meher

Frankly don't quote anything? Why are you buying 8-10 year old vehicles when you are new comer to cars? 50k saved today will cost 1L tomorrow.

Repeating myself, don't go for cars more than 2-3 yrs old max. As you are a new comer to cars, make sure they have some warranty pending. Maruti warranties are non-transferable to second owners, but their extended warranties are transferable. All the best.

I would say its better to learn & use a used car for around a period of a year or two & get to know your driving nuances, actual requirements regarding the vehicle that would suit you best based on your experience then. It will be a more informed decision based on your experience.

Getting a used car for something like 75k does make a lot of sense to me for this very purpose & obviously if you resell it how much more can you lose on an already well depreciated car?

[ani_meher]

Originally Posted by anks_at

Getting a used car for something like 75k does make a lot of sense to me for this very purpose & obviously if you resell it how much more can you lose on an already well depreciated car?

Actually its not just the difference between buying and resale value, but rather the expenses spent inbetween them. Also, a <1L car may be ok, but I think the OP is getting such cars at much costly rate.

[anks_at]

Originally Posted by ani_meher

Actually its not just the difference between buying and resale value, but rather the expenses spent inbetween them. Also, a <1L car may be ok, but I think the OP is getting such cars at much costly rate.

Yes the price quotes he got are not ok. Only if he gets it at a reasonable price is it ok.
The expenses that would be typically required on such a car would be not more than 15k-20k (immediate changes & service costs in the next 1-2 years) if chosen wisely. This is definitely where diligence is required, so you dont end up spending 40-50k on a 75k car!

[asit.kulkarni93]

Originally Posted by anks_at

These prices are way overpriced.
Eg: I sold my 2003 Santro Xing XG Automatic around 6 months back in Delhi. I could only manage 95k. The car condition was just ok-ish. It needed new brake pads, engine oil & 2 tyres by the new owner. The battery was new though.
How can the 2002 Santro (not even the Xing model I think?) be 1.4 lakhs. That price is easily double or more of what it is worth.
The other 2006 Santro too is overpriced approx by almost a lakh too.

I had Rejected the the 2002 Santro as soon as i came home. It was the non xing version and was totally not worth 1.4lakhs. If at all i was to buy it i would have had quoted about 70-80k.

[asit.kulkarni93]

Originally Posted by ani_meher

Frankly don't quote anything! Why are you buying 8-10 year old vehicles when you are new comer to cars? 50k saved today will cost 1L tomorrow. And the quoted costs are too much in the sky to even comment about.

I will advise following:

1. Maruti K10 around 3L for 1 year old cars (few very low run examples available on car selling website even now)
2. WagonR - will be difficult to find low run OR rationally priced, but will be around 3.8L for 1-2 yrs old
3. Chevy spark - for about 3L - 3.5L you should get a good vehicle.
4. If you are looking for Hyundai, go for i10 (but less mileage) or Eon. Some are available from 3L.
5. If your mom has not tried any geared vehicles, it will be pretty tough to learn a geared car. I hope you have already started class. If not, first take a class atleast for your mom. Because better to buy an auto vehicle which will get used than buying a geared vehicle that remains in the garage. If she can drive a geared vehicle, then go for above, or if searching for auto, you can consider A-star auto (but quite rare in used car market)
6. Buy only vehicles less than 2 yrs old and less than 10-15k running. Lower the better.

As you are a new comer to cars, make sure the cars have some manufacturer warranty pending. Maruti warranties are non-transferable to second owners, but their extended warranties are transferable. All the best.

One of my cousin recently purchased a new Alto K10 Lxi for 3.15lakhs. He was using a '98 Zen Vx before. We have been following this in our family since our first car in India/ Bahrain- Whenever we buy a Petrol car it has to be used. So 3 lakhs for used K10 really doesn't make sense. But if its a Vxi i would still think on it. The main point here is that if i spend more now Dad won't buy us a better car later. So spend less and practice on this for 8-10 months then upgrade to an used petrol sedan. Classes have already started.
My mom used to drive in 2006. After we had shifted to Bahrain she hasn't driven at all. She isn't allowed to drive at night due to her eyes which have been operated upon. So she would be using this only during the day when i am not there. Anyway thanks for your reply will keep this mind if at all we stretch our budget to 3 lakhs

Originally Posted by anks_at

I would say its better to learn & use a used car for around a period of a year or two & get to know your driving nuances, actual requirements regarding the vehicle that would suit you best based on your experience then. It will be a more informed decision based on your experience.

Getting a used car for something like 75k does make a lot of sense to me for this very purpose & obviously if you resell it how much more can you lose on an already well depreciated car?

Exactly my point. But this is only valid for non-Hyundai/Maruti cars. By the time Maruti/ Hyundai's are below 100k they are in a real bad condition or have crossed 100k kms. The best bet in such cases is the Fiat Palio/ Ford Ikon. I tried convincing Dad for these two but he said no

Originally Posted by anks_at

Yes the price quotes he got are not ok. Only if he gets it at a reasonable price is it ok.
The expenses that would be typically required on such a car would be not more than 15k-20k (immediate changes & service costs in the next 1-2 years) if chosen wisely. This is definitely where diligence is required, so you dont end up spending 40-50k on a 75k car!

The prices quoted are terrible. I saw a 96k kms done Wagon-R 2008 CNG Lxi for 2.4lakhs. He reposted yesterday on olx at 2.00lakhs and now i saw it in the noon he was asking 1.8lakhs. I dont mind spending 20k on a car if i buy it below 110k. My only concern the ODO should have less than 78k kms.

Originally Posted by ani_meher

Actually its not just the difference between buying and resale value, but rather the expenses spent inbetween them. Also, a <1L car may be ok, but I think the OP is getting such cars at much costly rate.

Zen is one car that i am getting below 1 lakh and in good condition. But the problem is my brother and mom are tall. We have been using my uncle's Zen since Dad is here for vacations and found it uncomfortable. I personally want a Santro Xing XO below 1.5lakhs and certainly would pick it up.
I am in no hurry as i know with this limited budget i won't get a car immediately neither will i have many options. Lets see the other options which i will explore in the next week.

[GrammarNazi]

A newbie salesguy from Toyota told me how they valued old cars. He said its segment-wise as so (on its Original Ex-Showroom Price) :

D Segment : 30% for the first year, 5-7% subsequently.
C Segment : 20% for the first year, 10% subsequently.

Whatever the result, as reduced by cost of repairs/refurbishment, would be the price if the vehicle is still being produced and is doing reasonably well in the market.

If the car is known to have issues (Ex. Civic supposedly has engine mount issues), then they'd consider that as repairs too.

The remaining amount would be the fair market value.

The rationale behind the differential depreciation rates is because the mechanical parts of D segment cars hold well compared to C segment cars. But in D segment, the exclusivity of the product is only for the first year, hence the massive depreciation hit in the first year.

Rest said, it depends on the situation. For Example : Fiat fanboys would pay more for Palio Stile in Bangalore compared to Delhi/Other places. Or either party wants to make the move depending on how urgently he needs to move on.

[stormerider]

Originally Posted by drmohitg

Well my story went like this only. Once you make up your mind for 21l then wouldn't it feel attractive to pay another 4-5 lacs and get a brand new fortuner. After all a new vehicle will always be new. And then as you asked me before , it gets more complicated when you consider that the s60 is available for around 27 OTR Delhi and 320d without xenons for 29.xx lacs!
Happy hunting.

Mohit his original budget was around 14-16, which he himself contradicted with a 21l at model. Which was 1.5 times the original budget. Now with you suggesting things in and around 29-30, the budget is already stretched to twice!
And your happy hunting will only make sure that he ends up in a pool of confusion and not inside a cabin of his new(or old) car!
Just what I felt!

[Steve_Austin]

Folks,

Friend of mine looking to sell his 4 yr old Cedia Spirit, 75K kms done, in excellent condition.

What's a good seller's price you'd say ?

[rahulsampath]

Guys, I am getting a Hyundai Accent Viva CRDI, 2006 model which have ran around 57000 km. I have driven it, it drives good, no major rattles, as expected the three potpot diesel engine was a bit noisy.
After negotiation we have decided on 1.55 k. Is it a reasonable price. The seller looks genuine, what all things should I looklook out for. Please help me.

[Samar117]

Hey guys,
So my uncle is *looking* for a used Chevy Forester.
First let's get somethings sorted out, he lives in Delhi, and already has 3 cars.
So you can sort of take this car as more of a fancy of his.
The used price check here on T-BHP says roughly 4-5 lacs.
Wanted to know how, where good places to search( apart from the internet of course) and spares and service issues. Any inputs will be appreciated
Thanks.