Car to sell after using 1 year

Seth · March 25, 2017

Folks,

I'm looking to buy a car and sell it after 1.5 years. Can you please provide few suggestions?

These are my requirements:

Budget: 2.5M to 3.5M

Makes: Toyota, Nissan, Honda

Cheers,

Seth

Edited March 25, 2017 by Seth

vag2 · March 29, 2017

the ratio has to be negotiated when you get the policy,especially if the car is a non-mainstream model where Japanese "kadapu-Badu" body parts are not easily available. For my uncles A4 SLI had quoted about 35%,LOLC about 40%,Co-op about 20% to be covered by policy holder for brand new parts. But they don't write it officially. Anyway SLI recently paid 100% when the windscreen was replaced at the Agent. Probably case by case evaluation..

matroska · March 29, 2017

On 3/27/2017 at 9:43 AM, matroska said:

of course not. There is a deduction if your car is over 5 years old that's all. I'm not sure of the exact numbers maybe someone can clarify.

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Sorry about the ambiguity... AFAIK and as per my experience if you're going to have a part replaced (for example many years ago we had to replace the entire left door of my dads car after an accident - the car was about 10 years old at that time) then they either ask you to use a used part or pay a part of the cost... when it comes to just repairs (example a guy knocked my perodua from behind had to correct the dents and repaint the tailgate) they paid the full amount.

Jor-el · March 29, 2017

On 3/29/2017 at 4:12 AM, iRage said:

Not sure about Sri Lanka...but in other countries it is a matter of what your coverage limits are as well. If the brand new parts cost more than what your limits are then obviously people are advised to go for the used parts, especially in regards to body components. Also, it might be a matter of practicality...is some cases the brand new parts of older cars are not available and even if they are they cost a lot lot more than the same part of a newer car rendering them impractical.

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The "limit" mentioned in the policy is the sum my car is insured:

"The company may at its own option repair, reinstate or replace any motor car described in the schedule hereto or part thereof and/or it accessories or spare parts or may pay in cash the amount of the loss or damage and the liability of the company shall not exceed the actual value of parts damaged or lost plus the reasonable cost of fitting and in no case exceed the insured's estimate of the value of such motor car (including accessories and spare parts) as specified in the said schedule or the value of such motor car (including accessories and spare parts)at the time of the loss or damage whichever is the less. In the event of loss or damage to the motor car and/or its accessories necessitating the supply of a part not obtainable from stocks in Sri Lanka or in the event of the company exercising the option to pay in cash the amount of the loss or damage the liability of the company in respect of any such part shall be limited to

a.

i) the price quoted in the latest catalogue or price list issued by the manufacturer or the agents in Sri Lanka or:

ii) if no such catalogue or price list exists the price list obtaining at the manufacturer's works plus the reasonable cost of transport otherwise than by air to Sri Lanka and the amount of relative import duty and

b.

the reasonable cost of fitting such part."