[Vid6639]

Just saw Carwale and there are loads of BMW 320d's available. There's one 2009 monaco blue 320d highline with asking price of 29L and only 4,500kms. That's 8L knocked off the new car price in less than a few months.

[R2D2]

Originally Posted by s.prashanth

I also bought a 2008 Civic VMT for 10.25 lacs in bangalore in 2009 may. The car had 1600 kms on the odo verified by honda, insurance checked. Considering the fact that the new VMT was 15.50 on road I got asweet deal. The car came with 17 inch lenso and the original rims only. I am attaching a pic of the same. if it is inappropriate please delete

Dude, your Civic looks gorgeous! Those Lenso alloys are absolutely fantastic. Whatta deal you got. Enjoy and "Drive Safe" (that's the TBHP sticker I have on my Altis and the motto I live..errr..drive by)

Cheers!

[GTO]

Originally Posted by GForce1980

However, based on what little research I have done in the User Car Market, I have come to realise that more expensive cars depreciate much faster than lower value cars

The higher you go, the harder you fall . Especially true within the car market. 1 year old BMW 750's, whose owners paid 1 crore, are now exchanging hands for 55 - 60 lakhs. 2 odd year old S Class' can be had for 40 odd lakhs.

Lower down the food chain, a BHPian bought a 2.xx year old Accord V6 (nearly 20 lakhs new) for 10.xx lakhs (with less than 10,000 kms on the odo). And in my research, I saw Accords of the same vintage as the Civic going for about the same price (or 10% higher at the most).

You are absolutely correct. The more expensive the car, the quicker its rate of depreciation.

This implies that when looking for a 8lac+ car, its definitely worth looking at the used car market, because you can take advantage of the higher rate of depreciation.

Spot-on.

But if you are going for a low value car, you may better off with a brand new one. Ofcourse, exceptions can always exist.

To an extent, true. Also, no point buying a sparingly used example of a car that holds its value well. Example : A 2 year old Innova D; better off buying a brand new piece. The best used buys come from cars that depreciate like stink.

Originally Posted by vid6639

Just saw Carwale and there are loads of BMW 320d's available. There's one 2009 monaco blue 320d highline with asking price of 29L and only 4,500kms.

One of the reasons is the Corp Ed 320D. Wait another year and you'll get the same car for 20 lakhs.

[gomzi]

After looking at the deals Dippy and you got on your resp. cars and news of other BHPians, now even i'm a convert to the value in used cars.
I'm quite sure my next one will be a "pre-owned" buy.

Originally Posted by GTO

One of the reasons is the Corp Ed 320D. Wait another year and you'll get the same car for 20 lakhs.

Oh man, you took the words right out of my mouth. The price of a 2-3 y.o. used 320d CorpEd will be tempting

[lamborghini]

Most of the people out here seems like a convert to used cars after looking at your deal, however, I just wanted to mention that even though used cars are terrific value, they will always be more expensive to maintain than a similarly priced new car.
A civic will have more expensive parts than a similarly priced new ANHC, and it is important to take this into consideration when setting a budget.

[civic-sense]

Originally Posted by lamborghini

Most of the people out here seems like a convert to used cars after looking at your deal, however, I just wanted to mention that even though used cars are terrific value, they will always be more expensive to maintain than a similarly priced new car.
A civic will have more expensive parts than a similarly priced new ANHC, and it is important to take this into consideration when setting a budget.

Firstly, I bought a used Civic, because a new one was "unreachable". 16.5L on road an an AT is huge money for me.

But look at what I finally ended up with. 3 year old 40K run for 7.6L. For that price I couldn't have even bought a i20 AT, which is not one, but two segments lower. i20 AT costs 8.8L on road in Bangalore. So, with a used Civic AT, I saved 1.2L over a new i20 AT, a part of which I will happily spend on additional maintainence that might arise.

[MihirC]

Originally Posted by civic-sense

Firstly, I bought a used Civic, because a new one was "unreachable". 16.5L on road an an AT is huge money for me.

But look at what I finally ended up with. 3 year old 40K run for 7.6L. For that price I couldn't have even bought a i20 AT, which is not one, but two segments lower. i20 AT costs 8.8L on road in Bangalore. So, with a used Civic AT, I saved 1.2L over a new i20 AT, a part of which I will happily spend on additional maintainence that might arise.

Hi Civic, Have you shared the details of how you went along for the loan wrt your civic also what is the interest rate?

PS-Please guide just in case you have a thread where this information is available.

[hiren.mistry]

Hey GTO,
Heartiest congrats on ur new old car or is it a old new car Its rather late but better than never.

I'm also a big fan of buying pre-owned cars and I've made many of my friends go for them rather than splurging on a new one.
I was recently researching for a pre-owned Accord 2007 model onwards and I was surprised to see the prices of these cars, most of them around 7.5 to 9L that is just awesome. Finally my friend settled on 2007 Honda Accord for around 8.6L, beautiful car and very well maintained.

Once again congrats and looking forward to your mods.

Cheers

[civic-sense]

Originally Posted by MihirC

Hi Civic, Have you shared the details of how you went along for the loan wrt your civic also what is the interest rate?

PS-Please guide just in case you have a thread where this information is available.

I did not go for a loan, but did an outright purchase. And that is one reason, I got a good deal. Nothing works better than a "I-can-write-a-cheque-right-away", when you are negotiating a used car deal.

My ownership review can be found here: http://www.team-bhp.com/forum/test-d...vic-story.html

[hiren.mistry]

Originally Posted by civic-sense

I did not go for a loan, but did an outright purchase. And that is one reason, I got a good deal. Nothing works better than a "I-can-write-a-cheque-right-away", when you are negotiating a used car deal.

My ownership review can be found here: http://www.team-bhp.com/forum/test-d...vic-story.html

Yeah, the best deals for pre-owned cars can be had when brought outright. I just found out the interest rates for pre-owned cars, its around 14.15%; way too steep.

[SmartCat]

So basically, somebody who is looking to buy a new Civic can go ahead and buy an used one for a hefty discount. But somebody who is originally looking to buy an i20, shouldn't go for an used Civic just because the purchase prices are similar.

[Caramelo]

i have a suggestion. why not make a used car buy/review section. where owners can review their pre- worshipped cars .

if there is such a section please ignore the above.

[civic-sense]

Originally Posted by smartcat

So basically, somebody who is looking to buy a new Civic can go ahead and buy an used one for a hefty discount. But somebody who is originally looking to buy an i20, shouldn't go for an used Civic just because the purchase prices are similar.

You should not buy anything on loan, if you can afford it without one.

Originally Posted by Caramelo

i have a suggestion. why not make a used car buy/review section. where owners can review their pre- worshipped cars.

if there is such a section please ignore the above.

Don't tell me, you consider us outcasts . On a serious note, I'd love to see separate threads for "test drives" and "initial ownership reports". But then, the mods know better.

[gomzi]

Originally Posted by lamborghini

I just wanted to mention that even though used cars are terrific value, they will always be more expensive to maintain than a similarly priced new car.

A civic will have more expensive parts than a similarly priced new ANHC, and it is important to take this into consideration when setting a budget.

Yup, a really good point and one that needs to be repeated in order to keep people realistic about used car buys. A LOT old Mercs and Beemers are available <10L. But they may not be worth it if one cannot pay for their maintenance which may be high (got no personal experience with 'em).

Anyone looking for a particular used car buy would do well to go through ownership experiences and contact existing owners of those cars on the forum for service and maintenance costs.

[GTO]

Originally Posted by lamborghini

Most of the people out here seems like a convert to used cars after looking at your deal, however, I just wanted to mention that even though used cars are terrific value, they will always be more expensive to maintain than a similarly priced new car.
A civic will have more expensive parts than a similarly priced new ANHC, and it is important to take this into consideration when setting a budget.

Valid point, Lamborghini. I'll have to reply with a YES and NO.

YES when someone buys a Mercedes W124 instead of a new Swift. Or a Skoda Laura instead of an SX4 (see the trend, used Euro versus new Jap). In situations like these, the used buy will work out substantially more expensive than a new car.

That's precisely why, in our How to buy a used car article, this para finds place for itself:

Maintenance: This is an often-overlooked factor. The cost of maintaining a pre-owned car of a given price will be more than the cost of maintaining new car of the same price. For example, a 5 lac rupee pre-owned Honda Accord or Mercedes Benz W124 will cost more in upkeep than a new 5 lac rupee car.

However, buying a recent make of a currently sold car / discontinued car known for its reliability is not going to show a large difference in maintenance costs (it still will, but the difference will be too small to break a deal). Example : My OHC Vtec. Through the 7 years that I owned it, the cost of upkeep was on par with an NHC. In fact, the first 4 years, there was nothing except scheduled service. In the 5th & 6th years, I had to get the throttle body cleant (dirt due to K&N), a faulty air-con switch (Blower position 1 & 2 didn't work, 3 & 4 did) and replace the cooling fan wiring (rat chewed through it).

That said:

1. A new car will have warranty coverage, used won't. Any part failure will cost you big bucks.

2. I'd say its VERY important to factor in the overall reliability rating of a car, when buying a used specimen.

Originally Posted by hiren.mistry

most of them around 7.5 to 9L that is just awesome. Finally my friend settled on 2007 Honda Accord for around 8.6L, beautiful car and very well maintained.

Fantastic price for an '07 Accord. A steal.

Originally Posted by civic-sense

You should not buy anything on loan, if you can afford it without one.

Actually, for businessmen, it makes sense to buy a new car on a loan. Reason:

Interest rates on new car loans = Between 5 - 11%

Interest rates on business loans = Between 14 - 18%

Thus, it makes it cheaper to buy a new car on a loan, and invest the liquid on hand into your business (of course, if the business requires it).

Some businessmen also avoid buying large purchase items on an outright basis, simply to avoid coming under the IT scanner.