Champak

When should I replace my old car?

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I have a Hyundai Santro Xing that's 8 years old and my father insists that I buy a new one because it'll be more comfortable to drive and I will get a good resale value on it. My car is in very good condition, I haven't had a big repair yet and I feel that I can make it run for another 4 to 5 years without any major problems. Is it cheaper in the long run to buy a new car now or to wait for a few years more to do so? Any insight on this will be much appreciated. Thanks in advance.

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I have a Hyundai Santro Xing that's 8 years old and my father insists that I buy a new one because it'll be more comfortable to drive and I will get a good resale value on it. My car is in very good condition, I haven't had a big repair yet and I feel that I can make it run for another 4 to 5 years without any major problems. Is it cheaper in the long run to buy a new car now or to wait for a few years more to do so? Any insight on this will be much appreciated. Thanks in advance.

Generally, people replace diesel cars at 5 years and petrol cars in 7 years. I think so this is the right time to get a new one :D

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since there is no major problem in the car and u are satisfied with it, it is not necessary to replace the car....but if you feel that u need a newer car with more features and creature comforts, then u can change ur car.

dont buy the car thinking for resale value....as it is highly inconsistent with changing technology, customer expectations, market condition etc.

I have a Hyundai Santro Xing that's 8 years old and my father insists that I buy a new one because it'll be more comfortable to drive and I will get a good resale value on it. My car is in very good condition, I haven't had a big repair yet and I feel that I can make it run for another 4 to 5 years without any major problems. Is it cheaper in the long run to buy a new car now or to wait for a few years more to do so? Any insight on this will be much appreciated. Thanks in advance.

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hey don't misguide... no of yrs should not be considered as the only criteria for replacing the vehicle....one needs to consider many other aspects (kms run in lifetime...100000+, change in lifestyle etc.) also to make a well and informed decision.

8 years old! that's a high time to bid adieu to your ride and get a new one. Coz from now on its demand for repairs are gonna rise ;)

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That pretty old but you should also consider other aspects like mileage on Odo like chinmaya.bhat said.

And if you want to buy then it's the right time because you'll get many discounts for Diwali. :D

Lxtreme

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hey don't misguide... no of yrs should not be considered as the only criteria for replacing the vehicle....one needs to consider many other aspects (kms run in lifetime...100000+, change in lifestyle etc.) also to make a well and informed decision.

Dude that's not misguiding, Every machine has a certain life, m just suggesting from my personal experiences.

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It depends upon you champak.

8 years is quite a long time & in such span of time an owner develops emotional bonding with its product too.

But i suggest you to sell the car only if you're having any good option in your mind to replace it with or if your car have started the signs of ageing & started cropping up the problems.

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@Champak, as others had said, no of yrs should not be the only criteria to look for new vehicle.

Other things like reading of car's Odometer and other wear and tear signs should also be taken into consideration.

When i had replaced my old Santro (it had also done 8 yrs), it had started to show it's age and demanded more upkeep costs.

If you are not in a hurry to buy the car then i would suggest you to wait for another year as there would be many new vehicles getting launched in 2014 (after Auto Expo onwards).

Though many discounts are available right now but i guess the wait for another year should pay off.

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By selling your old and faithful workhorse you wont be getting any significant resale value out of it. Why not keep it for some time more ? And if your needs are different now, then buy a new car and keep the Santro too. This will reduce its usage and subsequently maintenance will be less. Now days everyone is looking for a alternate compact vehicle. It will be easy to drive, pocket friendly and no parking problems. When you already have one and you are happy with it, then why not keep it !

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Look bro its simple!! You are obviously having a nice time enjoying an emi-free life!!

So why change that??

If your car is sturdy and going great, then I would suggest you to stick with it and make maximum out of your investment!!

But then the new gen cars are so very nice.

I have a 7 year old WagonR and I love it, its a very nice and practical car.

But recently, I sat in a friend's Toyota Etios and its interiors were so good!!

I mean, I didn't like the dashboard much, but the rear seat was so big and so very comfortable!! I just loved it.

And now, I want a new one!! Not that exact one, but a good new one. Which ain't gonna happen anytime soon.

So if you want a new car, but your heart is still stuck on your current one, i would suggest you to go and take one of the new beauties in the market for a test drive.

It will help the decision making process become a lot more easier!!

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Don't change the car if you don't feel or need it. If its not giving any problem then why waste money to a depreciating asset. Even if you sell the car now considering you might get 1.2 lakhs and if you sell it after 2 year you will get 90 thousand at minimum ,whereas if you buy new Grand i10 (as an example) you spend close to 6 lakhs + and its value will depreciate towards 4.5lakhs .

You will loose 1.5 lakhs vs 30k in 2 year ,also even if you repair the car parts and replacement if will be a maximum of 60k in total which is still less than half the amount you will loose if you buy a new car, also one thing that most people tend to forget is the opportunity cost of 6lakhs which can be invested wisely . Also if you take loan then you will have to consider the additional interests .

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Thanks everyone for your inputs. My car's in a very good condition, except cosmetic wear and tear, which is bound to happen with any old car. I don't use it very much, so it only has around 50,000 km on it. Since I'm not too bothered about the comfort or looks aspects, and just need the car to take me from point to point without any incident, perhaps not selling it for another few years is the way to go. And if that also makes it more economical in the long run, even better.

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