Sunday, February 17, 2013

Buying a Car? Read this before you spend your MONEY

Having moved from a Maruti Authorised Service Station (MASS) to Multi-Brand BOSCH Car Service (BCS), I wish to share my opinion with fellow Jammuites about some facts before you invest your hard earned MONEY on a Car. If you have money to WASTE go buy any car you fancy on "Use & Throw" Policy. However, if you value your money, read this before you hand over your money to a Car Dealer.

If points to consider:

1. Use of the Car

a. Daily Commute
b. Family Car (once in a week/month use)
c. Highway travelling on regular basis
d. All of above

2. Seating Capacity

a. 1 to 4
b. 5
c. 6
d. 7

3.  Daily Commute

a. 10 to 25 Km/day
b. upto 50 km/day
c. upto 100 km/day
d. upto 200 km/day

4. Next Car Change Planned in how many years

a. 2 to 3 years
b. 4 to 5 years
c. 6 to 7 years
d. 8 to 10 years

5. Purchase planned from

a. Own Resources (Cash)
b. Financed

Before I analyse the above factors, I wish to highlight what prompted me to write this blog. Yesterday I met a gentleman who had recently bought Renault Duster and was very happy with the quality of the car. He was also happy that the SUV needs oil change only once in a year or 10,000 km.  However, he was NOT aware that Duster uses Synthetic Oil which cost approx Rs. 1,000 to Rs. 1,400.00 per litre. An oil Change will cost him around Rs. Rs.7,000.00 plus during Free Service. Correct me if I am wrong.........

What I mean to say is that cost of Ownership should also be considered while Finalising the New Car Purchase.

Now back to analysing the above mentioned factors:

Let us assume you have checked the following:

1. Use of the Car : Daily Commute

2. Seating Capacity : 1 to 4

3.  Daily Commute : 10 to 25 Km/day

4. Next Car Change Planned in how many years : 2 to 3 years

5. Purchase planned from : Own Resources (Cash)

Then let us see what are we looking at :

Petrol Car : Approx 10,000 km of Car use per year would cost approx Rs. 50,000.00 per year for Petrol and just one oil Change service would add upto Rs. 3,000.00 of Service Costs. Cost of Ownership in 3 years would be Rs. 1,59,000.00.

Diesel Car : Approx 10,000 km Car use per year would cost Approx Rs. 30,000.00 per year for Diesel and just one oil change service would add upto Rs 5,000.00 of service costs. Cost of ownership in 3 years would be Rs 1.05,000.00

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