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  Wednesday, 10 July 2024
  5 Replies
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Hi Sir,

Good morning and hope you are doing well. I want to buy a new car with any category basis of the following parameters to fulfil my dream and keep that car for lifetime. Here are some parameters basis of that I’ll proceed to fulfil my aspirations.

Top notch Safety
Low maintenance cost
City usage 50% , Highway usage 40% and 10% off road
EMI amount not more than 18k per month
Comfortable for senior citizens
Adequate boot space.

Thank you.

Subrata Malakar
6 days ago
Dear Subrata,

Considering you would like to cap your EMI at max 18000 per month and presuming loan to be of 5 yr tenure as what standard practice
This will bring your eligibility to buy a car with 10 Lakh On Road price with near 1.25 Lakh down payment and rest 8.75 Lakh as loan

Keeping that in mind and with factors, criterias as refereed of
a. Reliable car with Low Ownership costs (good mileage, low maintenance)
c. Decent Highway dynamics with wider tyres, decent steering feedback
b. As you specified top notch safety - considering car with excellent build and safety features yet comfortable at same time

My Recommendation would be Tata Nexon Smart Plus
a. Top Notch Safety - 5 star build with fully loaded active and passive safety features including 6 Airbags, ESP
b. One of the better cars in segment with inspiring confidence on steering feedback - will admire both in city use and highway use
c. Decent Ride Quality, Mature suspension tune up and can clear both small patch bad roads, highways at absolute ease - you wont get nervous feel in Nexon at any point. With GC at near 209 mm - can clear potholes easily
d. Decent comfortable ride for both city and highway and Nexon Smart Option comes with almost every essential feature (except remote lock) including LED Headlight, Touchscreen with Android Auto / Apple car play, AC, Power, Steering, All 4 power window, electric orvm
e. Performance comes in Multi Mode with eco, city, sport with eco best when driving on highway / expressway at same speed, else use city or sport mode

Now comes 2 grey areas
1. Mileage - See no car is perfect, You cant get everything in a car
Nexon is safe car, comfortable seats, decent highway dynamics, handling is good
Mileage is not the best but if you assure yourself to drive at 90 kmph as constant speed on highway can get decent mileage

2 In terms of Service cost - i suggest to check on owner manual and follow in whats referred in for periodic service and avoid in unnecessary addon, pls refer - Nexon Service cost

Though above are not the best but at the price point at which Nexon Smart Option comes with 5 star safety, build, essential features, highway dynamics, comfort - this is a car which ticks in maximum need,

Pls check it out.
Sirji, Apart from Nexon is there any other car will be good with my budget which might be sedan or suv as I want to keep the car for lifetime and comfortable for senior citizens and engine would be good
5 days ago
Hi Subrata,

If you intend to keep car for life term - resale factor would be insignificant then
Second car which can consider in basis need is Maruti Ciaz Sigma with reasons

1. Large 510 Litre Boot Space
2. Most Spacious Car in under 10 Lakh Price with excellent legroom and in city comfort is excellent with Rear AC Venys
3. Proven 1.5 Litre engine from Maruti Suzuki - highly reliable
4. Niggle free ownership, comfort, decent performance
5. Though not as advanced in safety features - yet has essentials of ABS, EBD, ESP, Dual Airbags, Hill Assist, Rear Defogger
6. Has all essentials with AC, Power Steering, all 4 power window, remote central lock, music system, projector headlight

Subjective element is Build which might not be great and high speed feedback - but if you try to restrict speed at 80 to 90 kmph max on highway - car will remain best in control and also deliver in great mileage too.

Pls check it out.
Good afternoon Sirji. If I’ll increased the tenure for 8 years with the EMI amount of 18k per month then what are the cars I can avail to buy with my said requirements.

Appreciate your advice to proceed further. Thank you.
2 days ago
Hello Subrata,

Although 8 yrs loan tenure is available, but most of the banks restrict in financing for extra loan tenure unless a customer with
a. Existing relationship with High CIBIL
b. Previous repayment track record

Additionally, we are near the peak of interest rates so interest outflow would be relative higher as you end up paying near 40% of loan amount as interest in 8 yr tenure - means if you avail in loan of Rs 10 Lakh on a car like depreciating asset - near 4 Lakh will go as additional interest outflow to service the loan

While on other hand if you limit loan to 4 yrs - you will be required to pay in just Rs 2 Lakh extra outflow.

Pls refer - Car Loan EMI Calculator

So think about it if still considering in extended loan tenure.

Still, if you still considering in 8 yr Tenure
This will raise in loan eligibility to close to 12.5 Lakh - but will also increase downpayment as
> Road tax is higher
> Insurance premium is higher

So if you ready to spend in like close to 2.5 Lakh as downpayment - pls check out Honda City V / Vx
a. 5 Star Safety with fully loaded safety features including ADAS
b. Comfort with Plush Interiors
c. Highly Reliable,
d. Mileage can expect in close to 17 to 18 kmpl on highway and 12 kmpl in city
e. Luxury Features and soft suspension and plush seating adds on to lot of comfort

Kind check out and dont miss to negotiate a decent deal at Honda dealer end if you finalize it.
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