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Archive for July 8th, 2015

Buying Used Cars Makes More Financial Sense

Wednesday, July 8th, 2015

Although an obvious benefit to buying used cars can mean a less expensive purchase and cheaper monthly note, it is really the additional benefits of what can be done with those potential savings that can be life changing.

The Depreciation Factor

Most people already know that when it comes to buying a car, new or used, there are certain inherent risk factors involved, namely depreciation. Depreciation is the decrease in value that a car loses over time, and can vary depending on the make and model of the car. Depreciation of a vehicle starts the minute the car is driven off of the dealership lot.

Like it or not, depreciation comes with the deal; there’s no way around it. However, the only real way diminish the impact on your wallet is to either buy a car that has a traditionally high resale value, which requires a good bit of research on your part, or you can simply scale down your purchase to something more affordable, liked used cars. Bear in mind, by waging your bets with a vehicle that you believe has a high resale value, there is still a certain degree of depreciation that will ultimately affect the value of that vehicle.

Does Your Decision Have More To Do With Status?

For some, buying a new vehicle may have more to do with status than it does necessity, which ultimately affects the ability to make a practical decision. Financial experts strongly advise against financial decisions like this, especially ones that involve highly depreciative items. If need be, take a step back and examine the true nature of your intent in purchasing a new vehicle. Perhaps doing so can help you eliminate the desire to impress with something you truly cannot afford.

What You Should Consider Instead

The best way to demonstrate the additional benefits of what can be done with potential savings is to give an example. If you were to purchase a new car for about $50,000, depending on the depreciation of that car, you could be looking at a vehicle with a value of less than half of what you paid within a couple of years, although you may have barely made a dent in the repayment on the loan. In the housing market, this is what is referred to as upside down, meaning you owe more than the property, or, in this case, more than what the vehicle is worth.

Instead, what you could and should do is consider buying used cars. First of all, you already know that a pre-owned vehicle will cost a lot less than the $50,000 new one previously mentioned. If you were to consider the difference of purchasing used cars instead of new models, you may find that the savings could be a tremendously beneficial in helping you reach some other financial goals. Specifically, if you bought a $25,000 pre-owned vehicle with say a $250 monthly car note instead of a $500 monthly car note, you could take the difference of $250 each month and put those funds towards something else, like an investment that could contribute to your financial security.

Tata Nano Vs Alto K10 AMT

Wednesday, July 8th, 2015

To take a look at what branding can do, Maruti has created an image for Alto that will forever be etched in our minds. It is seen as the first car, to be bought by people who are transitioning from a two-wheeler.

Whereas, the advertisement of Nano is that of a young, peppy, cool car, used as a first car or by a family which has more than one car.

Tata has made many cosmetic changes in the car design. The ‘humanity line’ with the new aggressive front and rear bumpers do make a difference. But the first thing that you notice when these two cars are placed side-by-side, is that the tall car I.e Nano looks much better, than the short and boxy Alto.

The Nano imparts a more upmarket feel compared to the Alto.

The Alto is a conventional looking car whereas the Nano design is a bit revolutionary. Be it the rear wheel drive or the engine placed in the rear of the car.

Interior:

From the inside, the fit and finish of the new Nano is quite superior to the earlier versions. Bits and pieces like the steering wheel and the gear stalk seem to have been lifted from the Zest.

Also on the plus side, are the seats which are placed on a height and offer an amazing visibility through the wind shield. The center console juts out a bit and that is the only hitch that we could find in the interiors. The window switches have also been lifted bit higher and hence are much more accessible.

On the other hand the Alto’s interior has a nice piano black finish and is at par with that of the Nano.

Coming to the entertainment system, Alto offers the usual CD player, USB and aux input,two front speakers. Tata offers the same and additionally also offers Bluetooth phone streaming and two rear speakers.

On the whole, Tata has done a nice job on the new Nano and both the cars are at par in this case.

Space wise, the backseat in both these cars is limited. However, leg space is much more in the Nano than in the Alto. But, back seat is appropriate for 2, 3 would be too much of a squeeze.

Ride quality and driving

Both these cars are meant for city driving. The Nano is outgunned by the Alto on this front as it is one cylinder short. The Nano is powered by 2 cylinder 624 cc engine whereas the Alto is powered by 3 cylinder 998 cc engine. The performance is also affected by the Nano being 10 kg heavier than the Alto.

The performance figures of the Nano are very weak as compared to the Alto. However, this being purely a city car it does not sway the buyer’s decision much.

The star attraction in both the cars is the all new AMT gearbox. The same, in both the cases takes time getting used to. Both cars offer better driving results when used in manual mode instead of the AMT mode. The new steering wheel of the Nano is much more effective, the short turning radius is a dream to use and fares much better than the Alto.

Another shortcoming of the Nano is the wobbly drive, which can be blamed on the height of the car and small wheelbase.

Verdict

All in all, the Nano facelift is supremely effective. The fit and finish shrug off the ‘cheap’ car tag. So while the Alto is a much better powered car to drive, the Nano gives it tough competition. Specially when you take into consideration that it is Rs. 1 lac cheaper than the Alto which is a huge factor in this very price sensitive segment

Just like this article, you can find many more interesting articles on BigGaddi.com. It is an Automobile website which gives A-Z information about Indian Automobile world.

It is the largest platform for buying and selling used vehicles.