Was about to book Creta but GST happened; Inputs appreciated

[BooYaaKaa 0]

Hello guys, I am in a dilemma.

Was looking for a 5-seater SUV, had zeroed in on Creta 1.6 Petrol, almost on the verge of booking it but then GST rates were announced.

In heaps of confusion whether to book it now or wait after GST?

 

I am from U.P. and am unable to find a clear tax structure being applied on new vehicles at present here(before GST), so as to calculate the correct increase or decrease in price myself, post-GST.

 

So if anyone has any idea regarding this situation, specifically Uttar Pradesh(you are more than welcome to post your input even from any other state), please don't hesitate to put down your 2 cents as to what should I do.

 

I have done my homework though and this is what I have been able to conclude, please tell if there is something wrong etc.

 

I am unsure about the present tax structure in UP, whether it is 49% or 53%(see details below).

I know it will be 43% post-GST on CRETA (please correct me if I am wrong here too.)

 

Current Ex-showroom price of Creta SX+ 1.6 Petrol Manual in Meerut, U.P. - Rs.12,04,483

Current On-Road price, as quoted by the dealer, in Meerut, U.P. - Rs.14,07,494

(which includes TCS-Rs.12,045, Accessories-Rs.7,200, Zero Dep. insurance-Rs.54,068, Registration-Rs.1,25,448, Extended warranty-10829)

 

Now,

1. If present rate is 49%(30% Excise + 14% VAT + 4% Infra Cess + 1% Luxury Cess), 

Ex-showroom price, post-GST, will be Rs.11,55,995(Rs.48,488 cheaper)

2. If present rate is 53%(30% Excise + 14% VAT + 4% Infra Cess + 1% Luxury Cess + 2% CST + 1% NCCD + 0.5% Krishi Kalyan Cess),

Ex-showroom price, post-GST, will be Rs.11,25,759(Rs.78,724 cheaper)

 

And,

1. If present rate is 49%, then On-Road price will be - Rs.13,55,251 (Rs.52,243 cheaper)

2. If present rate is 53%, then On-Road price will be - Rs.13,21,690 (Rs.85,804 cheaper)

 

So guys, this is what I have been able to figure out till now, I know its a long post, but if you have even the slightest idea what is going to happen post-GST, in regard to Creta, please help a fellow car enthusiast out. Or if you know about the present tax structure in UP, please tell, it will help in further simplifying things.

I am gonna post it on a couple more places too, so if I get any reply from there I will update it here.

 

Many thanks.

[vikky1971 4]

@BooKaaYaa, what's with your name? 

      What I can understand from the detailed breakup is, you go for third party insurance, you will save 54,050₹. Moreover as the creta is getting into demand the price certainly would shoot up. I am presently in S.Korea, here every third vehicle is creta/Tucson/santa fe that is same creta look-a-like front grill. You just go ahead and buy. Don't think too much.

[BooYaaKaa 0]

1 hour ago, vikky1971 said:

@BooKaaYaa, what's with your name? 

      What I can understand from the detailed breakup is, you go for third party insurance, you will save 54,050₹. Moreover as the creta is getting into demand the price certainly would shoot up. I am presently in S.Korea, here every third vehicle is creta/Tucson/santa fe that is same creta look-a-like front grill. You just go ahead and buy. Don't think too much.

Thanks for the advice.

Will wait for 2 or 3 days max, lets see if anything solid comes up..

[sachins 51]

Well it's tough to say right now what will be the exact impact of GST implementation on cars.

Though as per reports, large cars/SUV's seems to be benefiting the most (I think Creta shall fall under this category). Contrary, hybrids will be taxed more (can't understand logic behind it).

One thing you should consider is if prices do eventually come down after GST then we might see withdrawal of discounts/schemes for those car segments (not sure what discounts, if any, are you getting on Creta).

So to answer your question in short, if you are getting a good deal then you may consider buying right now otherwise it's advisable to purchase post GST.

 

Edited May 26, 2017 by sachins

[BooYaaKaa 0]

5 hours ago, sachins said:

Well it's tough to say right now what will be the exact impact of GST implementation on cars.

Though as per reports, large cars/SUV's seems to be benefiting the most (I think Creta shall fall under this category). Contrary, hybrids will be taxed more (can't understand logic behind it).

One thing you should consider is if prices do eventually come down after GST then we might see withdrawal of discounts/schemes for those car segments (not sure what discounts, if any, are you getting on Creta).

So to answer your question in short, if you are getting a good deal then you may consider buying right now otherwise it's advisable to purchase post GST.

 

At present they are offering outright discount of around Rs.25,000 to Rs.30,000 on Creta.

Also checked insurance deals on policybazaar, getting one for around 26K with zero dep., while if taken from dealer insurance is coming down at 54K.

These are the only savings I am able to obtain currently.

[librankur 37]

Not just you even car dealers are in a similar situation , CONFUSED

You seem to have done a lot of homework , I mean too much of it and it's heartening to see you getting into every detail

I don't know what is your situation in terms of car availability but in my case it took around three months for delivery. 

So if it's readily available seek a good discount on the car value by what you think it would cost you after the GST, meet in the middle and enjoy your ride tomorrow.

If it's a waiting game , GST would be in force by the time you get delivery and can't actually do anything about the price then

Booking means nothing until final purchase invoicing is done.

 

[BooYaaKaa 0]

9 hours ago, librankur said:

Not just you even car dealers are in a similar situation , CONFUSED

You seem to have done a lot of homework , I mean too much of it and it's heartening to see you getting into every detail

I don't know what is your situation in terms of car availability but in my case it took around three months for delivery. 

So if it's readily available seek a good discount on the car value by what you think it would cost you after the GST, meet in the middle and enjoy your ride tomorrow.

If it's a waiting game , GST would be in force by the time you get delivery and can't actually do anything about the price then

Booking means nothing until final purchase invoicing is done.

 

There is not much waiting time. The car can be delivered within 15 days. 15 days too because it needs to be shipped from Chennai to U.P. otherwise there is no waiting.

We need to pay the price prevailing at the time of delivery or at the time of booking?

Will also try and find out how much maximum discount they are willing to offer and then will proceed accordingly, currently they instantly agreed for 25K discount.

Thanks for the advice.