More Than 50% Depreciation On Year Old Hyundai Verna Petrol!!


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I am shocked with the current market rates that is being offered for a 1 year old Verna petrol SX ABS!

With my daily run increasing from 40 kms to 150 kms, I thought a car that would run 9 kms for a liter of petrol costing north of Rs 67 would not be a wise choice to go with. The launch of new Fluidic Verna tempted me. I decided to go for the new Verna diesel. On may 11th I booked my black verna diesel and I am expecting delivery anytime next week.

At the time of booking when enquired about the resale price of my current Verna the S.R. who inspected my car offered me 5.8Ls. I did feel it was on the lower side and was expecting at least 6L. So I decided to do the selling job myself by posting adds on classifieds etc. But after coming back home I decided to negotiate with the S.R. itself for a higher price, as I din't want to take the head ache of name change and other RTO procedures. Mean while I did enquire other 2nd hand dealers for the price they would quote for my car. That was the 1st time I felt the shock when Mahindra's First choice quoted me a 4.2L. I then decided to blankly not push the S.R. for more and agree with 5.8L itself.

The next day when i called about taking the car from my house and payment details, S.R. put me on hold for 1 day saying that he would try for a better deal outside. There was no response from him for 4 days. Later when I called him he explained me about the current market stats and thus my car would only fetch 3.3L [shock] and he would try his best to push it till 3.5L. When enquired about the quoted price of 5.8L earlier he did nothing but apologized for quoting a wrong amount.

Then I quickly browsed through all possible classifieds on the internet and posted the details about the car. I kept getting calls from many, atlast found a serious buyer. He saw the car he was very satisfied and I asked him for 5.8L. Later after negotiations I agreed for 5.6L. He was supposed to meet me the next morning to pay me the advance but he never turned up! [frustration]What a waste of time. Its almost 1 month now of seriously trying to sell the car but in vain.

I some how feel It would be very difficult for me to sell this car for a reasonable price. Guys please suggest me something which would help me fetch a decent price for my car. Below are the details

OTR price while buying was 8,12,000
2010 FEB registered
Petrol SX ABS(top model)
19600 kms on odo
Chennai registered
Very well maintained( took lot of care personally)


Below is the link to my car's pics and details
For Sale: Hyundai Verna SX ABS Petrol - The Automotive India Marketplace

If I end up selling for 4.2L(that is the maximum anyone was willing to actually pay). The running cost for my current car would be

a) 812000-420000= Rs 392000

Fuel cost for running 19600kms. Avg. mileage of 10kpl. total fuel consumption would be 1960lit. Avg. fuel cost Rs 61/-.

b) Total Fuel cost=1960x61= Rs 119560

c) Total running cost = a+b= Rs 511560

So cost per km would be = 511560/19600 = Rs26.1/Km [cry]
 

350Z

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Re: More than 50% Depreciation on a 1 year old Verna Petrol!!

Good thread and an extremely well-maintained Hyundai Verna too. I saw it on Marketplace last morning. We’ve also posted about it on The Automotive India’s official Facebook page, so that it could get the much required attention. The simple rule of thumb is that the higher the actual price of car, the higher it drops down when it comes to resale. Although, looking at your car’s condition and age, I believe that it can fetch around Rs.6 Lakhs easily. You’re better off selling to a genuine individual. I know, it would take time to find one who can be actually trusted but the fruit that you’ll receive will be sure very sweet. Good luck! [thumbsup]

Drive Safe,
350Z
 
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Heart breaking man, on seeing the price quoted for your beauty. It is one of the well maintained example in the city.

I would suggest not to sell her. Keep it for your highway trips & get a diesel hatchback (Figo, Ritz, Swift) for daily ride. This would add a lakh more to the price you are about to spend on the exchange with fluidic Verna, but makes a lot of sense than selling this immaculate vehicle for peanuts.
 
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Chennai and selling car to a dealer . its tough luck.

dealers are morons .

i was asked for 90k for my lancer. it was a recently done up modified one. check up my thread.
later i sold them for 2.25k

Also any first owner selling their car suffer huge loss.

we sold our 10 months old estilo almost 90k lesser than the price we bought.

check carwale for some assistant, their price is justified kind of
 
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Like Ilango said first owner always suffers huge loss. I also bought my Verna CRDI second hand , it is a 2008 model and i bought it in 2009 , only an year old and i got it for 6Lakhs. New one costs around 9Lakhs OTR Chennai. So in one year and 23k KMS of running the first owner lost 3 Lakhs.


And moreover Verna petrol does not have a good re-sale value like its diesel counterpart. And now also maybe re-sale value will have gone low because of the new Fluidic Verna.
 
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@350z> Thanks for the facebook post and thanks for the wishes :)

@Mr Boss> Ya having a 64k kms done alto at home I did think of selling it and take a diesel hatch instead. But my brother has just started to learn driving, and I feel its better carry out all his driving experiments in a older/smaller car. I just cant afford to see a scratch/dent on a new car! [:D] Moreover the new Verna is simply irresistible [;)]

@ilango> Ya, dealers would be a pathetic choice to give a 1 year old car that is the lesson learnt by me, trying hard to sell myself.

@cooldhaya> As of now I am ready to sell even if I incur a 2.5L-2.75L less than the OTR price I paid but like u said the petrol prices and the launch of the new Verna is giving me nightmares selling the Car [frustration]
 

Akash

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Oops, 50% depreciation on a year old car is absolutely disgusting. I suggest you to keep the car until you get a genuine individual. The used car dealerships usually take advantage of sellers who wish to sell of their car in hurry.
 
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Hi Blackdiesel, I can see in your name that how much you are affected by petrol. This price quote made tempted my friend and can't resist to own your red beauty.

Please give me your contact information so that we can fix an appointment.[cheers]

Thanks
Ramesh

I am shocked with the current market rates that is being offered for a 1 year old Verna petrol SX ABS!

With my daily run increasing from 40 kms to 150 kms, I thought a car that would run 9 kms for a liter of petrol costing north of Rs 67 would not be a wise choice to go with. The launch of new Fluidic Verna tempted me. I decided to go for the new Verna diesel. On may 11th I booked my black verna diesel and I am expecting delivery anytime next week.

At the time of booking when enquired about the resale price of my current Verna the S.R. who inspected my car offered me 5.8Ls. I did feel it was on the lower side and was expecting at least 6L. So I decided to do the selling job myself by posting adds on classifieds etc. But after coming back home I decided to negotiate with the S.R. itself for a higher price, as I din't want to take the head ache of name change and other RTO procedures. Mean while I did enquire other 2nd hand dealers for the price they would quote for my car. That was the 1st time I felt the shock when Mahindra's First choice quoted me a 4.2L. I then decided to blankly not push the S.R. for more and agree with 5.8L itself.

The next day when i called about taking the car from my house and payment details, S.R. put me on hold for 1 day saying that he would try for a better deal outside. There was no response from him for 4 days. Later when I called him he explained me about the current market stats and thus my car would only fetch 3.3L [shock] and he would try his best to push it till 3.5L. When enquired about the quoted price of 5.8L earlier he did nothing but apologized for quoting a wrong amount.

Then I quickly browsed through all possible classifieds on the internet and posted the details about the car. I kept getting calls from many, atlast found a serious buyer. He saw the car he was very satisfied and I asked him for 5.8L. Later after negotiations I agreed for 5.6L. He was supposed to meet me the next morning to pay me the advance but he never turned up! [frustration]What a waste of time. Its almost 1 month now of seriously trying to sell the car but in vain.

I some how feel It would be very difficult for me to sell this car for a reasonable price. Guys please suggest me something which would help me fetch a decent price for my car. Below are the details

OTR price while buying was 8,12,000
2010 FEB registered
Petrol SX ABS(top model)
19600 kms on odo
Chennai registered
Very well maintained( took lot of care personally)

Below is the link to my car's pics and details
For Sale: Hyundai Verna SX ABS Petrol - The Automotive India Marketplace

If I end up selling for 4.2L(that is the maximum anyone was willing to actually pay). The running cost for my current car would be

a) 812000-420000= Rs 392000

Fuel cost for running 19600kms. Avg. mileage of 10kpl. total fuel consumption would be 1960lit. Avg. fuel cost Rs 61/-.

b) Total Fuel cost=1960x61= Rs 119560

c) Total running cost = a+b= Rs 511560

So cost per km would be = 511560/19600 = Rs26.1/Km [cry]
 

350Z

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The used car dealerships usually take advantage of sellers who wish to sell of their car in hurry.
Any case, most of the dealerships (Especially the so-called certified) quote an unreasonable price. They have to maintain a margin to resell the car after all. From my experience to sell off the car - Today, if I ask for price quote from such dealership to purchase Pre-owned Maruti 800 DX, they’ll quote it for no less than Rs.1.3 Lakhs. Why? It’s a rare 5 Speed DX variant. But on the other hand, if I visit the same dealership to sell my Maruti 800 DX, they simply forget about the variant formalities and happily quote it for Rs.85,000. Yup. This is the Indian market.

Hi Blackdiesel, I can see in your name that how much you are affected by petrol. This price quote made tempted my friend and can't resist to own your red beauty.
Welcome to The Automotive India, Ramesh. What else can be better if an affectionately maintained car finds her home from that of one Petrolhead to another? Do ask your friend to join us on board.

Drive Safe,
350Z
 
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Yea I've asked him to Join TAI to relish th experience. Said he will join soon but he can't resist to own the red beauty and hence he asked me to get the details. His name is Niranjan.[glasses]

Welcome to The Automotive India, Ramesh. What else can be better if an affectionately maintained car finds her home from that of one Petrolhead to another? Do ask your friend to join us on board.

Drive Safe,
350Z
 
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Guys my friend happened to buy a Verna 2010 model (Diesel) done only 16000kms on the ODO for 4.3 lakhs. This shows the how poor are the Hyundai cars after sale service.[frustration][frustration]

Another colleague of mine bought a 2008 model Petrol Verna for 3 lakhs done around 18000kms on the ODO.
 
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Guys my friend happened to buy a Verna 2010 model (Diesel) done only 16000kms on the ODO for 4.3 lakhs. This shows the how poor are the Hyundai cars after sale service.[frustration][frustration]

Another colleague of mine bought a 2008 model Petrol Verna for 3 lakhs done around 18000kms on the ODO.
2010 Verna diesel for 4.3 lakhs?[surprise]
Your friend is a lucky guy I suppose. Please do let me know if there is any such deal available now.
 
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