@gaurav - thanks for those actual numbers.
A couple of observations though. I had two primary contentions:
a) Consider resale value after 3 yrs at least, if not 5 years. I'm keeping in mind the average car buyer, who would keep a car for that period surely.
b) Consider actual net monetary loss
In 2007 I recall getting quotes for the Select , Spirit, Sports between 8.7, and 9.2 OTR at Calcutta - after discounts.
Refer first post of this thread:
http://www.team-bhp.com/forum/indian...-cedia-17.html
Delhi prices would have been similar.
So, considering the prices you have seen, the sellers would have lost around 4L tops in around 2-3 years. This figure would not deteriorate further
that rapidly if the car is kept for 3-4-5 years.
My argument is that, you would
also stand to lose 4-5 L when selling a 3+ year Civic. From the prices I have seen here - after 3yrs both Cedia and Civic would cost 4-5L less than their respective OTR prices.
But now consider that you paid 3.5L more for the Civic when you bought it and the interest on the extra 3.5L if you had taken a loan.
Btw, regarding Carwale - I did not refer to their automated used car price estimation tool. I referred to prices being quoted for actual cars on sale.
ps: I'm just looking at the financials here - not the brand, a.s.s, features etc. - and trying to indicate that for a 4-5 yr ownership period, resale value of the Cedia should not be a criteria in the purchase decision making process.
Quote:
Originally Posted by gaurav_chopra04 Bad to the extent that I got a 1.5 year old white sports in mint condition for 5lac.
You may consider this as a relative bargain, but it shoud have been around 5.7lac. But I came across a 2006 golden elegance model in decent conditionwith 34k on the clock for 4.4lac (thats what the dealer quoted, one will certainly negotiate.) Also I came across a 2007 Pearl white spirit model with 18k on the clock asking for 6lac (again was negotiable).
Since I was looking for a sports, I didnt consider these. Vinayak motors, Lajpat Nagar, sold a 2006 white sports cedia for 5.25lac in January 2008. Had 34k on tha clock. Also saw a 2007 yellow for 5.25 lac (negotiable again)
Re sale in Delhi and Mumbai particularly is very bad.
these calculations are based on some formulas and for most cars its almost accurate quotations based in excellent , good and fair conditions, but in case of cars such as cedia they are a bit here and there.
Absolutely, You can sell your civic within Hours of listing on Carwale, and as they say buyer haath jod ke le kar jaayega. In case of Cedia, its diificult to find a buyer first and incase you do, you will get ridiculous quotes and then aapko haath jod kar gaadi deni padegi.
I personally have witnessed this, people literally asking me to be reasonale with quotes. Cedia is no doubt an excellent car but re-sale certainly is bad. |