Unregistered Car For 2.5Mn

[Dananjayaa]

Hi guys,

I'm going to get a 2.5mn vehicle loan from my company. According to them it should be unregistered vehicle. So guys please advice me on this decision. What should be the best car for that price?

Thanks

[waka]

Viva Elite or Mariti Alto K10

[Schiffer]

Viva Elite and Kia Picanto

[nexus]

  On 9/4/2012 at 4:17 PM, Schiffer said:

Viva Elite and Kia Picanto

isn't kia picanto is over 2.5mill? correct me if i'm wrong mate and op can all so consider micro panda afaik it will cost less than 2.5mill.

[Dananjayaa]

Guys, few of my friends got this Viva thing. They don't satisfy with it at all. Kia picanto is in my list as well as chevrolet beat, I heard that geely LC cross is not doing good with petrol. Maruti suZuki A-star is another option. Guys I'm so confused.

[Zoom-Zoom]

Viva Elite would be the best option.Any particular reason why they aren't satisfied with it ?

[chan5]

1- kia picanto-good looking, rare ,decent build quality, excellent interior.but crappy service by agents.

2- Maruti ASTAR.- Good resell value, easy maintenances , simple car with compartively good space.

3-VIVA Elite - Every jhonny and Tonny uses It, huge waiting list, simple car, reliable , diahatsu engineering.good resale value.

5-Alto K10- similar indian junk bucket, with no space, they didn't know a word call safety , cheap looking from interior and exterior.

Good resale value, no comfort at all.-

6- Chevy beat - Think the Magshitty is the agent and if so just forget it. It's a new car to sri lanka , i've not seen much on the road. So better be safe, surely with low second hand market.

6-micro mx7/panda/cross-chinese products with micro badge. Cross and panda are similar except the body of the car.

And they've crappy service not much good fuel economy for a small car.

if it's my money.

Kia picanto without a second thought.overall winner.

[Zoom-Zoom]

The Kia Picanto (basic) is almost 3 million so it is not an option.

[maheshw]

  On 9/5/2012 at 3:37 AM, Zoom-Zoom said:

The Kia Picanto (basic) is almost 3 million so it is not an option.

if so Elite Viva will be the last option to go.

Edited September 5, 2012 by maheshw

[Crosswind]

Spotted these in the classifieds. Since you mentioned the word 'loan' if you can add a few bucks from hand, you might be able to get these:

http://www.autolanka...ad.asp?ID=89782

http://www.autolanka...ad.asp?ID=87727

http://www.autolanka...ad.asp?ID=82848

http://www.autolanka.com/ad.asp?ID=77574

Also there are buddy vans for less than 2 mill if you are interested in those stuff.

For unreg cars going thru a loan, the company will be able to claim VAT, so pls ask the seller to give a VAT invoice and clarify with your company if they are willing to give a loan of 2.5million excluding VAT.

Edited September 5, 2012 by Crosswind

[bpcd]

I would sugest to go for Japanes Alto

[terrabytetango]

Kia Picanto. Yes.

[Zoom-Zoom]

The Japanese Alto is 650cc I guess...

[Schiffer]

  On 9/4/2012 at 7:04 PM, nexus said:

isn't kia picanto is over 2.5mill? correct me if i'm wrong mate and op can all so consider micro panda afaik it will cost less than 2.5mill.

ey, i thought the base model was around 2.5M

and actually i wouldnt recommend the panda. i have talk to some owners and most of them keep complaining that something goes wrong. either electrical or mechanical

[maheshw]

  On 9/5/2012 at 1:01 PM, Schiffer said:

ey, i thought the base model was around 2.5M

and actually i wouldnt recommend the panda. i have talk to some owners and most of them keep complaining that something goes wrong. either electrical or mechanical

Agreed. one of my friends one just hit 2000 km & water pump start to making chara chara noice. showed to agent & ask to replace a new water pump

[Dananjayaa]

  On 9/5/2012 at 12:33 PM, Zoom-Zoom said:

The Japanese Alto is 650cc I guess...

I think this is a good option

[Crosswind]

  On 9/5/2012 at 4:30 PM, maheshw said:

Agreed. one of my friends one just hit 2000 km & water pump start to making chara chara noice. showed to agent & ask to replace a new water pump

Engine used in the Panda is a copy of Fiat FIRE engine. This engine is known for water pump issues.Worst part of it is the pump is driven by the T-belt. So it may be a bit of a b*tch to change. As long as you are covered by warranty, you should be alright.

[CARBON B4]

  On 9/4/2012 at 2:19 PM, Dananjayaa said:

Hi guys,

I'm going to get a 2.5mn vehicle loan from my company. According to them it should be unregistered vehicle. So guys please advice me on this decision. What should be the best car for that price?

Thanks

Machan, I think your company HR guy is an idiot...... If you get a loan the car is yours right ? so the company should not be bothered if its unreg or not. If they want all they need to do is to do a valuation of it, if needed.

Further this is a big mess, you get the loan and company gives u an allowence, and u need to repay the company back seperately.... This loan scheme was put when there was an income tax issue, but now the Govt allows up to Rs 50k as a vehicle allowence at 0% tax, and if I remember correct this is fully allowed for tax for the company. So the best is to get an allowence and you can get a really good used car for that price, rather than trying to go for the options mentioned....

[terrabytetango]

I think it's a prerequisite of the bank for the vehicle to be unreg'd. His company merely foots the monthly payment. At least that's how it normally works.

[harshansenadhir]

  On 9/6/2012 at 3:38 PM, Crosswind said:

Engine used in the Panda is a copy of Fiat FIRE engine. This engine is known for water pump issues.Worst part of it is the pump is driven by the T-belt. So it may be a bit of a b*tch to change. As long as you are covered by warranty, you should be alright.

FYI, many popular engine designs (including Toyota 1C, 2C) got the water pump to be driven by the T-Belt.

[tinyman]

  On 10/4/2012 at 11:53 AM, CARBON B4 said:

Machan, I think your company HR guy is an idiot...... If you get a loan the car is yours right ? so the company should not be bothered if its unreg or not. If they want all they need to do is to do a valuation of it, if needed.

Further this is a big mess, you get the loan and company gives u an allowence, and u need to repay the company back seperately.... This loan scheme was put when there was an income tax issue, but now the Govt allows up to Rs 50k as a vehicle allowence at 0% tax, and if I remember correct this is fully allowed for tax for the company. So the best is to get an allowence and you can get a really good used car for that price, rather than trying to go for the options mentioned....

Yes mate, upto 50k you can get tax free allowance and company will also can deduct it on tax calaculations. best thing is to discuss with your HR fellows & Finance and short out this, you can get a recently registered Passo for this price,which is superior than any of the vehicles discussed here. check this link, http://www.autolanka.com/ad.asp?ID=92521

Edited October 6, 2012 by tinyman

[Warlord]

I doubt that'll work. In these kind of arrangements Banks don't usually budge. As per the usual bank policies, It probably should have to be mortgaged at 2.5mn should be the max amount lent under cat A , which are only unregistered cars although I do not see much logic. Can understand your frustration mate, but Viva will be a safe bet for you. Arrgh.... But i hate another dude going to meet those buttheads of agents.