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  1. Harpreet
  2. Second Hand Cars
  3. Sunday, August 22 2021

I was thinking of buying this used car with details
> Used Hyundai Verna Petrol
> BS4 Compliant
> Automatic
> 24000 Kms Driven
> October 2018 Model but registered in January 2019
> Registered in Bangalore
> 1st Owner Car

with asking price of Rs 11.16 Lakh

I test drove it and it seems to be in generally good condition, with pretty minor scratches along the outside and on the headlamp.

Do you think it's a good deal, or not?


Also, the owner has done the insurance with an IDV of 7 lakhs just before selling the car, which Spinny says they will be transferring to me. Do you think that's enough insurance or could that be a problem since the purchase price would be 11.16lakhs and the IDV would be only 7lakhs (with 20% for any claims being payable by me according to the Spinny guys).

Let me know your thoughts.
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Admin Accepted Answer
Dear Harpreet ji,

Greetings !!

> Condition looks good with quiet minor scratches and almost new like
> This is a top of line Verna with 6 Airbags with Facelift which was launched in 2018 is available with 6 Speed Automatic Transmission
> Fully Loaded Top of Line Model with lifestyle features and
> In line low running of just 24000 KMs with tyres having 60% life to it and Battery still have 2 yrs more life
> Hyundai Revamped service schedule in 2018 and this car comes with longer replacement of fluids and filters - service cost wont bother in

and fact that Bangalore has one among highest road tax in zone with car on road even after factoring in discounts been 2018 model registered in Jan 2019 was 15 Lakh Plus and in last 2 yrs car prices increased significantly,

11 Lakh is what a decent price for the car and can well be considered in
We recommend this buy

See in terms of Insurance - 7 Lakh is like undervalued IDV - been fair IDV of car registered in Jan 2019 means
> Ideal IDV should be like 70% of exshowroom price means Rs 8.8 Lakh .

But, Been around say 5 months left for Insurance next year IDV would be like 7.5 Lakh

Instead of spending in for buying new insurance for sake of slight higher IDV and spending in like Rs 25K for it - recommended to transfer existing insurance and next year keep depreciation minimal by 5% as IDV can be customised and keep fair value at Rs 6.65 Lakh - this will minimise in differential between recommended IDV and your car IDV

Overall - a good deal and can well be considered by transferring insurance rather than opting for new policy.

  1. more than a month ago
  2. Second Hand Cars
  3. # 1
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