good time to sell cars ?

[ThunderBolt]

Hi all,

   Is it a good period to sell cars ? Budget 2018 is around the corner and I want to sell my Mazda axela 2008 car 1.5L .

Should I wait till the next year or not ?

 

Regards

 

[iRage]

Well...with the budget around the corner it seems like everyone is trying to sell their cars because there are "stories" going around about taxes getting lowered. 

The thing is...even though you decide to advertise the car and try to sell it...people might not necessarily buy. After all, they too hear the same stories that the seller hear. So they might end up buying if and only if they believe the car is cheap enough.

[Rumesh88]

Only someone in the caliber of Sumanadasa can give you an answer (I'm sure you know what happened to the one who took him seriously last time) .  The rumor circulating these days gives the notion that govt would reduce the tax for vehicles with less than 1.0L engine capacity. Of course that doesn't make sense but that's the way the budget proposals has been over the years. However why are you worried about it unless of course you are either planning to leave the country or to do away with private transport in furture? If the car prices comes down in future  you will sell your car for less and buy the replacement for less. Same applies if the car prices go up. So either way it is not all that bad. Just my opinion.

[iRage]

2 minutes ago, Rumesh88 said:

Only someone in the caliber of Sumanadasa can give you an answer (I'm sure you know what happened to the one who took him seriously last time) .  The rumor circulating these days gives the notion that govt would reduce the tax for vehicles with less than 1.0L engine capacity. Of course that doesn't make sense but that's the way the budget proposals has been over the years. However why are you worried about it unless of course you are either planning to leave the country or to do away with private transport in furture? If the car prices comes down in future  you will sell your car for less and buy the replacement for less. Same applies if the car prices go up. So either way it is not all that bad. Just my opinion.

The thing is, for most people the rationale of trying to sell their car now is that they hope they can sell it for a high price and then buy a newer car for a lower price when the taxes go down after the budget.

[kusumsiri]

Agree with you @Rumesh88. The changes will effect only to 'Baiyas'. (buying & selling people, Not opposite of Toiya)

[Nishan.dj]

keeping a profit out of cars irrespective of how they have been depreciated. so sad fella.

[Quiet]

They are considering introducing depreciation for vehicle valuation at Customs again. But that will be offset with taxes on options. So basically prices will be the same I guess. Don’t know about small cars though.

i really hope they do something about the motorbikes flooding the market (Indian crap). Over 20000/- bikes sold every month and so many fatal accidents happening.

[iRage]

5 hours ago, Quiet said:

They are considering introducing depreciation for vehicle valuation at Customs again. But that will be offset with taxes on options. So basically prices will be the same I guess. Don’t know about small cars though.

 

In this day and age somethings should just be taken as standard equipment. I hope they don't go back to taxing power mirrors and windows and auto AC and stuff and consider not doing so for any safety equipment.

[trish_auto]

On 10/2/2017 at 4:23 PM, Nishan.dj said:

keeping a profit out of cars irrespective of how they have been depreciated. so sad fella.

Sri Lanka is the only country in the world where car prices are going up against depreciation. Ex: price of  1996  manufactured 110 was around  9 laks in  2003 >>  around 1.3 m in 2007 >> around  1.8m in 2017.   So in  2020  ...any guess ???

If it was in another country, it would have been wrecked long time ago..

 

[LashNeo]

14 hours ago, trish_auto said:

Sri Lanka is the only country in the world where car prices are going up against depreciation. Ex: price of  1996  manufactured 110 was around  9 laks in  2003 >>  around 1.3 m in 2007 >> around  1.8m in 2017.   So in  2020  ...any guess ???

If it was in another country, it would have been wrecked long time ago..

 

Yeah.. cannot agree more. But, the reason behind this is the boasted prices of new cars in the local market due to exorbitant taxes. Just compare the new models available in the market to a 20 year old corolla which you can buy within the range of 18-20 lakhs. What can you buy? I think only the Maruti Alto fits in that range. But, does it offer at least half the value in terms of features, space and looks to a 20 year old well maintained corolla? I guess no isn’t it? ?