A little history
before the D'day.
(I have missed to mention that my previous car is Maruthi Swift ZXI (Petrol). It is an used car and i was the second owner. Before that I was using Hyundai Accent GLS Petrol, that too an used car and second owner. )
We have planned to buy XUV500 during first week of March. But since Chiddu's discount (excise duty cut
) announced on 17th February we thought we will book it immediately in case if it comes to effect immediately. I was kept following up with India garage for the latest price and they said it will be released in a day.
For the month of February Mahindra discount was about 20,000 cash discount + 10,000 corporate discount for W6 and 30,000 + 10,000 for W8 respectively. (Mahindra fixes discounts and freebies at the beginning of every month. It will be keep changing and same across all dealers as i checked in chennai and bangalore).
On 19th we got confirmation about the new pricing
. About 32,000 reduced for W6 and 40,000 for W8 (on road). We also heard that Mahindra cash discount will be withdrawn and current discount is applicable if we make payment before 22nd. Not a marketing gimic, same i heard from chennai Mahindra dealer as well. Booking:
20th February we paid 40,000 as booking amount for W6 Silver.
We planned to take delivery on 3rd March, auspicious day proposed by my parents. I planned to go with SBI or SBH for car loan, but dealer suggested SBM (State Bank of Mysore) as they contact and process can be done easily. As no much difference between SBI and SBM (10.75% interest rate, no penality for prepayment, preclosure etc etc) I went with SBM and submitted documents. Loan:
21st february they said loan is approved and i need to go to SBM (mysore bank circle) to fill forms and sign agreement. I went and spent about half day for the formatilities (filling forms, autographs, getting ECS clearance from my salary account to debit EMI etc). So Job is done, the manager said loan disbursement letter will be collected by dealer directly. I did the downpayment also on the same day. (As they wanted to do the retail before 22nd to make old discount in effect) W6 to W8:
Based on inputs from our TAI
members and after thoughts, decided to go for W8 (Feeling very happy for my decision). I called and informed sales executive (SE) that I wanted to go for W8. Nicely co-operated for the change, SE made arrangement to resend new invoice for W8 to bank and get all formalities done. Actually there is no change in the loan amount. The difference amount i paid extra as down payment on the next day.
To be noted: I paid the complete amount before doing PDI due to 22nd deadline. I didnt felt anything different as unless i sign RTO documents it is well and good.