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  1. Rinku Jana
  2. New Cars, Reviews
  3. Friday, November 29 2019
Hi Sir,

I have bargained a lot with TATA dealer in last 1 month (multiple dealer) and the latest discount offered 35 cash discount on top model.

2 car shortlisted: 1) Ecosport and 2) Nexon (both petrol automatic)

After considering discount Now Ecosport still 1.5 L costlier than Nexon and my budget is 12L. Nexon coming below 12L and thought to get expert help from you.

I know Ecosport is far better car in terms of features and driving but VMF I fount Nexon best. Attached my comparison snapshot.

Request for your kind guidance, should I go for Nexon, 35 cash discount is a decent deal or wait for more discount?


Thank you
Attachments (1)
Admin Accepted Answer
0
Votes
Undo
Hello,

If query is regarding discount, well
> Nexon Petrol AMT - At Rs 35,000 cash discount

I feel that there is surely more scope to negotiate in. Just to let know
> Tata Nexon prices were last hiked in September 2019. Is the Model you buying Pre September make or post same
You can Decode VIN

If its Pre September make, then surely have better scope to negotiate

> Are you buying Insurance from Dealership or Online
If Online then again can save in good amount of money.
Check - Car Insurance Premium Calculator

> Are you paying Dealer Handling Charge ?
Can take a stand against same too, refer - Dealer Handling Charge

> Lastly - Nexon AMT Petrol is facing stiff competition from
a) Venue Automatic in more advanced transmission
b) XUV300 Diesel W6 AMT which is priced lower than Nexon petrol AMT and is more engaging to drivce
c) Even cars like Kia Seltos with light clutch available in similar price

and fact that AMT Petrol is not responsive and nor fun.
I can say that to negotiate better on the car to save more

Hope should help !!


Rinku Jana Accepted Answer
0
Votes
Undo
Firstly thanks for the response on my query.

The Nexon car offered to me is latest make (Not pre October make) for sure.

Why I have chosen Nexon:
1) I am looking for only petrol automatic model so, XUV300 and Brezza is out of the game. Now in my list: Ecosport, Venue, Nexon.
2) I took test drive of Ecosport, Venue, Nexon but felt Venue is too compact and even I didn't like the exterior design (it looks small car). Now updated my list: Ecosport and Nexon
3) Personally I liked Ecosport too much and Ecosport is winner in my case but my budget is 12L (at max) as I planned for full down payment no loan. Here I am getting Nexon top model with AMT under 12 L and Ecosport is costlier by 1.5L in Bangalore. Nexon has added advantage in terms of mileage, safety rating and comfort.
4) Buying basic model of KIA Seltos is not a good idea, so never included in my list.

May be I have done comparison and sorting of the car wrong way but this is what I analysed.

Online insurance and handelling fee is really good suggestion and I will take it up with dealer.

I would like to get final suggestion between Ecosport and Nexon only (with keeping in mind, Ecosport is 1.5 L costlier post discount apply)

Thank You


Tushar Kakkar Accepted Answer
0
Votes
Undo
Go for Ford Ecosports as clearly you like it better. Now is the time to listen to your heart otherwise you will regret it later.

Coming to finance, It`s the same mistake I did by paying full in cash. It`s better to take a loan instead(I realized later). If you have cash in hand invest it in an FD instead.

Following is the snipped from the same website(Car Finance) -

Do you Know Why Should you take Car Loan Instead of Buying Car on Cash
» Car Finance - Interest is calculated on Reducing Balance Method.

» Fixed Deposit - Interest is calculated on Cumulative Basis. Compound Interest Calculator is used

Live Instance - Interest Calculation

Below is Interest Rate Calculation for Interest Earned of Fixed Deposits Vis a Vis Outflow through Car Loan

Amount 3 yr 5 yr 7 yr Flate Rate (rounded off)
Fixed Deposit @ 8.5% Rs. 3 Lakh 83,000 1.51 Lakh 2.31 Lakh 9% after TDS for 5 yrs
Fixed Deposit @ 8.5% Rs. 5 Lakh 1.38 Lakh 2.51 Lakh 3.85 Lakh 9% after TDS for 5 yrs

Car Loan @ 11% Rs. 3 Lakh 53,500 91,000 1.31 Lakh Around 6%
Car Loan @ 11% Rs. 5 Lakh 89,000 1.52 Lakh 2.19 Lakh Around 6%


Dont be Surprised : Interest is Compounded on Recurring Month on Month Basis in Fixed Deposit, while under Loan Repayment - Interest calculated on diminishing reducing basis on Principal Outstanding

Thus your Effective Flat Rate for Auto Finance will be lower than Fixed Deposit

To know Latest Interest Rates of month - refer Car Loan Interest Rates

Its Wise Choice to take Car Finance even if you having your Own Funds


Moreover if your company provides car leasing scheme go with it then as it also saves tax, road registration and insurance cost


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