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BHPian cefiljoseph recently shared this with other enthusiasts.
Apparently when someone is not able to find a job these days, they resort to becoming a financial influencer commonly known as a finfluencer
Don't get me wrong, I love finance and credit where it’s due, finfluencers have definitely helped raise the financial awareness among the youth. However, like most of us here, I too love cars for as long as I can remember.
Enter the finfluencer. They swear by two commandments. First, to start saving from as early as possible. Second, to stay away from liabilities like cars.
It looks like both my likings contradict each other. It's like being a vegan who's favourite food is steak.
How do I manage my passion for cars while being mindful of finances. Two words - cautious indulgence.
Here I am, a twenty year old who just moved to Mumbai for his first job. I always knew that the first thing to do after landing a job would be to get a car.
In my situation, the car was not just for enthusiastic reasons but also to commute to work. My office and apartment being in Thane, the public transport options were limited or difficult to get especially during the monsoons. This was the primary reason to get a car.
My father offered to get a car for me since I had only started earning. He was against getting a two-wheeler because of safety concerns. Since I would be buying the car with my parents money, I did not want to splurge and wanted to stick with the smallest budget possible. However, I didn't have to be conservative with maintenance or mileage as long as it was reasonable. This is because I would be taking care of upkeep and fuel largely.
After some thought, I decided to keep a budget of two lakhs and search for a car. This ensured that I don't end up with the bottom of the market and also get a decent car thanks to the endless options in Mumbai.
Once I decided the budget, it was time to zero in on the models. First rule I knew from years of watching videos and lurking OLX was to never buy the car at the upper end of the budget and to save 20-30 percent of the car's cost in immediate upkeep.
Therefore, I decided to search cars under 1.5 lakhs. The immediate choice that came to my mind was the Suzuki Alto K10. It was pocket friendly, fun and reliable. I thought this was the one to get and I shouldn't look any further.
On a later day, while going through OLX, I searched with a price filter of two lakhs and below. Suddenly, I realised the mistake in my decision when I saw other options like civics and corollas.
The Civic was eliminated for two main reasons. One is that contrary to common perception, keeping a Honda running is kind of expensive once the car is of that vintage(~15 years). Second was the notorious bottoming out suspension which would be suicidal in Mumbai where speed breakers are as unscientific as it can get.
Fiesta was also something I liked in that budget. However, I wouldn't be getting the nicest fiesta in that budget needless to mention the worry of having something from a manufacturer who left the country.
The choice was obvious - 9th generation Corolla (E120). Arguably the best mass market corolla ever made.
Press photo of the ninth generation Corolla:
I have a never ending list of great things to tell about the car. I never miss a chance to annoy every person I meet by telling about how good the ninth generation corolla is. In my humble opinion this is the best car someone car buy today with a budget of two lakhs. Give or take a little depending on the year.
Meh's about the ninth generation Corolla:
At this price, I can't really say anything as a major negatives about the ninth generation corolla. However, I do have some things that makes the ownership less nice.
On the whole, I can't really hold up these complaints considering the current price of the car. Nonetheless, these are inconveniences that comes with ninth generation corolla particularly at this vintage. I will detail more about the experience in my initial experience later. Please do read along.
Hunting for a good example:
In retrospect, this is once place where I could have done better. I made some rookie mistakes in the excitement of getting my first car but still ended up with a reasonable deal and car.
Once I finalised on the ninth generation corolla, I started searching for a car primarily though OLX. Many of them were converted to CNG which ruined the car. I wanted a relatively clean stock car. Cars in good shape were lesser in number than I thought. Many examples were cosmetically and or mechanically abused. Many were also not taken care of presumably owing to the high cost of parts. Then, I saw a car with a Toyota Utrust in Wasan. It was a single owner car with about 170k kms on the odo with company service records. Seeing the high mileage I decided to move on. Later I saw cars with lesser mileage in worse shape. Therefore, I decided to go see the car in Wasan Utrust.
I was really shocked to see the car. It had some minor dents and scratches which is to be expected. Barring that, the car was extremely clean. The interiors were the most impressive part. Generally, the leather wears out in cars of this vintage but this one had it in top shape even with this high mileage. I tried to follow the team BHP checklist when evaluating the car. However, I did make some mistake due to the lack of experience coupled with my naivety. Since I was buying directly from Wasan, I didn't really do a thorough checkup and do the due diligence on my part. Moreover, I didn't examine the service history thoroughly either. I ended up paying a premium as well. Due to my busy schedule then of moving in and settling at the office, I could only go see the car at night which wasn't ideal either. These were definitely some mistakes and I hope everyone reading this could learn to avoid it.
Seeing the car, I was instantly in love. The old world charm sold me on the car. Right from twisting the key to unlocking the car to having a basic engine, it has just the right amount of things you needed in a car. Even being a Mercedes lover, I truly didn't want anything more than this corolla at that moment. It made me content and needless to say I was sold.
First look of the car at the dealer parking lot:
Rear three quarters show how the later generation clearly evolved from this:
The interior were relatively well kept for the age. The storage lid on the dashboard which often breaks in these cars were broken in my car too:
Rear seats offering reasonable space and has luxurious leather. The wide arm rest also helped in a better rear-seat experience:
The engine bay was relatively clean but not upto my standards and I would like to have professionally detailed in the future:
End of day, I was happy to get the car directly from Utrust since it would give me that added peace of mind. They also gave it a fresh service with oil change before handing over the car. Also, me being new to Mumbai, I didn't want to risk buying from an unknown party or dealer hence played it safe even if I had to pay some premium.
The damage including green tax, insurance and documentation was 1.4 lakhs for the car. I think a fair value should have been 20 k less. Anyways with the massive savings on depreciation and the value offered by the car, it is really hard to get a bad deal here. After all, money can always be made again but I can't be twenty again with a ninth gen corolla . Moreover, contrary to popular perception, I feel dreams like this motivate us to work harder and earn more. In today's day and age, it is far easier to make 20k than to save 20k. So, in the grand scheme of things, I knew everything would be work out fine and it did.
I did all the payments and stuff and on the coming Saturday, I went to take delivery of the car.
Buying from a dealer had some benefits. They gave it a wood wash and interior detailing before delivery, put on a pair of new number plates, an OEM car cover from the previous owner and put ribbons on it to make the experience pleasant:
Finally, getting a Corolla after all the research and hunting for one:
Little did I know then this corolla would later become a pivotal part of my life.
Continue reading BHPian cefiljoseph's Toyota Corolla for BHPian comments, insights and more information.