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Brand New Toyota Raize vs. Used MG ZS (Resale & Depreciation)


shirand
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Hi,  

I’m intending to go for a small crossover as my next car (currently using a 2010 Toyota Belta). Initially thought about going for a brand new zero mileage one and I was started looking at the Toyota Raize, MG ZS, Kia Stonic and Hyundai Venue. 

I’m planning to use it for next 5 years and my normal usage is around 1000 km per month - generally daily office drive in Colombo and very rarely outstation. 

Resale value, reliability, maintainability and the condition of the vehicle after 5 years (with the odometer around 70,000 km) are my main concerns.

Fuel consumption is not a major issue - if it is doing above 8 kmpl in city limit is sufficient (I guess the MG ZS is doing around that).

Rest of the aspects (safely, features etc.) are more or less the same for above 4 vehicles I guess.

I have budget up to 6 million, but now planning to invest on a small block of land by saving some cash and minimize the loss on resale due to depreciation considering future expenses. 

Now I’m further thinking about below 2 options (may be in a dilemma). 

(1) Go for a 2020 Toyota Raize G grade for around 5.7 mil. 

(2) Go for a 2019 used MG ZS with around 12,000 km on odometer for around 4.6 mil. 

What would be the total cost of ownership and the resale value of above 2 after 5 years with around 70,000 km on the odometer?

Which one is the most advisable option considering my requirement (resale value after 5 years)?

Thank you in advance for your valuable opinion...

 

PS: One of my friends suggested me to stretch my budget a bit and go for a used/ second hand 2017 C-HR. But I personally don’t like that car due to the rear look and lesser space/ leg room/ head room for rear seat passengers and gloomy interior gue to small rear windows. 

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You can't predict for another 5 years.Look what happen to the second hand market when raize was introduced suddenly.What if toyota decided to release a better one in the coming years.raize hype will be gone and you loose  anyway.If you want to minimize the loss then go with toyota.

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12 hours ago, GayanR said:

You can't predict for another 5 years.Look what happen to the second hand market when raize was introduced suddenly.What if toyota decided to release a better one in the coming years.raize hype will be gone and you loose  anyway.If you want to minimize the loss then go with toyota.

Honestly I’ve seen more CLA mercs being sold than Raizes at the moment, also the Kia and Hyundai have also bitten a small chunk off the market share, 

some fellas are also quoting astronomical prices, I’ve seen them at 6.8 as well

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13 hours ago, shirand said:

Hi,  

I’m intending to go for a small crossover as my next car (currently using a 2010 Toyota Belta). Initially thought about going for a brand new zero mileage one and I was started looking at the Toyota Raize, MG ZS, Kia Stonic and Hyundai Venue. 

I’m planning to use it for next 5 years and my normal usage is around 1000 km per month - generally daily office drive in Colombo and very rarely outstation. 

Resale value, reliability, maintainability and the condition of the vehicle after 5 years (with the odometer around 70,000 km) are my main concerns.

Fuel consumption is not a major issue - if it is doing above 8 kmpl in city limit is sufficient (I guess the MG ZS is doing around that).

Rest of the aspects (safely, features etc.) are more or less the same for above 4 vehicles I guess.

I have budget up to 6 million, but now planning to invest on a small block of land by saving some cash and minimize the loss on resale due to depreciation considering future expenses. 

Now I’m further thinking about below 2 options (may be in a dilemma). 

(1) Go for a 2020 Toyota Raize G grade for around 5.7 mil. 

(2) Go for a 2019 used MG ZS with around 12,000 km on odometer for around 4.6 mil. 

What would be the total cost of ownership and the resale value of above 2 after 5 years with around 70,000 km on the odometer?

Which one is the most advisable option considering my requirement (resale value after 5 years)?

Thank you in advance for your valuable opinion...

 

PS: One of my friends suggested me to stretch my budget a bit and go for a used/ second hand 2017 C-HR. But I personally don’t like that car due to the rear look and lesser space/ leg room/ head room for rear seat passengers and gloomy interior gue to small rear windows. 

Mate the planning you’ve put in here; life being so unpredictable 

I know a friend who ordered a merc, passed away before the car came here. 

all the models you’ve discussed, are new first editions / generations thereby you never know, even the Toyota can end up with some drastic defect later, 

again one thing is for certain, maintenance costs will increase, 

basically what you are looking for 

.....suv, runs cheap, breaks less, sell for same or profit....

It’s not going to happen mate, by the looks of it you are not a car guy, like most here 

in a way your post sorta offends the average petrol head, 

So in your stance my advice would be this, buy the cheapest off the lot, Save the rest

Definitely buy brand new. Maintain with whatever you can afford. 
as for resale, pray. 

And pls INSURE the car or your math will go to waste.

Edited by tiv
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Actual SUVs are not economical....and this includes standard sized crossovers as well. The Raize is a hatchback crossover so would be a close to what you would get in a hatchback of similar spec in terms of fuel efficiency.

MG is not bad..but I do believe its longevity still needs to be proven. MG did not have a consistent reputation for being reliable when it was British and it hasn't change much since it has become Chinese.

So that just leaves you with the two Korean crossovers and the Toyota. The Toyota is over hyped these days. Funny thing is Raize fever seems to be a lot quieter ever since the car actually started coming in to the country. Maybe people realized it is not what the car sales people were trying to sell it as. 

Since you do not seem to be a car guy, I would say go for a Korean one with local agent support. We still have no idea what the Raize hides underneath and if something goes wrong you cannot trust the car importers to actually help you out with warranty replacement. (Don't get me wrong....there are car importers who are really really good and give a good after sales support..but it comes at a price so they do not deal with that many common vehicles as they cannot compete with the car mudalalis and their dirty tricks).

Now why do you want a SUV ? 

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2 hours ago, iRage said:

Now why do you want a SUV ? 

To avoid bottoming out, i need to pre plan all my routes if taking the Corolla it cant even manage hotel car parks with my 3 kids in the back (less than 100kg total)

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On 1/19/2020 at 7:47 PM, shirand said:

Hi,  

I’m intending to go for a small crossover as my next car (currently using a 2010 Toyota Belta). Initially thought about going for a brand new zero mileage one and I was started looking at the Toyota Raize, MG ZS, Kia Stonic and Hyundai Venue. 

I’m planning to use it for next 5 years and my normal usage is around 1000 km per month - generally daily office drive in Colombo and very rarely outstation. 

Resale value, reliability, maintainability and the condition of the vehicle after 5 years (with the odometer around 70,000 km) are my main concerns.

Fuel consumption is not a major issue - if it is doing above 8 kmpl in city limit is sufficient (I guess the MG ZS is doing around that).

Rest of the aspects (safely, features etc.) are more or less the same for above 4 vehicles I guess.

I have budget up to 6 million, but now planning to invest on a small block of land by saving some cash and minimize the loss on resale due to depreciation considering future expenses. 

Now I’m further thinking about below 2 options (may be in a dilemma). 

(1) Go for a 2020 Toyota Raize G grade for around 5.7 mil. 

(2) Go for a 2019 used MG ZS with around 12,000 km on odometer for around 4.6 mil. 

What would be the total cost of ownership and the resale value of above 2 after 5 years with around 70,000 km on the odometer?

Which one is the most advisable option considering my requirement (resale value after 5 years)?

Thank you in advance for your valuable opinion...

 

PS: One of my friends suggested me to stretch my budget a bit and go for a used/ second hand 2017 C-HR. But I personally don’t like that car due to the rear look and lesser space/ leg room/ head room for rear seat passengers and gloomy interior gue to small rear windows. 

I may have a similar dilemma myself. I went to see all these vehicles and test drove as well except for the Venue. Venue is out of the question for me and I have already ruled it out. All the other vehicles you have mentioned are better than the Venue in my opinion.

MG ZS has gained so much popularity over the past 2 years, people who own the vehicle are hell bent on defending and praising it but you need to keep in mind that it has been in Sri Lanka for only about 2 years, so you never know of its durability. Although, they do offer a 5 year warranty, which is a good thing. When it comes to interior space, none of the others come close to ZS. Since you have kids, you may need to consider that. As cons, it does not have some useful features like automatic climate control, power folding mirrors, Android Auto(if you have an iPhone, then fine). Also a friend who owns an ZS told me that it only does about 6-8 kmpl in city.

Kia Stonic has almost everything ZS has, except for the sun roof, driving modes and some other minor features. In addition, the Stonic has power folding mirrors, automatic climate control, Android Auto and Apple Carplay, rain sensing wipers, bi-projection headlamps, which in my opinion are pretty handy during an urban commute and pretty much all the other times as well. My only problem with it was that it does not have much leg room for the rear passengers. It's not horrible, but it's not ideal either. If you are someone who pushes the driver's seat to the back as much as possible, then don't go for this one at all, as people in the back are going to be seriously cramped for space, especially if they are going to be adult passengers. But it would be okay for short commutes. Also the Stonic has a DCT gear box, which are known to have caused so much trouble in some vehicles in creeping traffic conditions. So you would wanna think about that as well. On the other hand, Kia offers a 5 year/150000 km warranty that covers the engine, gearbox, battery etc. so you would probably be okay.

Toyota Raize has the smallest dimensions out of the 3, yet surprisingly, it has more room for the rear passenger than the Stonic! It is also taller than the Stonic. If you go for the Raize, then it would be better to go for the Z grade in my opinion. As others have mentioned in this thread, Raize seems to be way overrated. Most of the features they advertised back in November like Display Audio, Navi Ready, Panoramic View, Panoramic Parking are in fact manufacturer options, which means you need to pay extra to have them fitted. If you get the Z grade without any options, you don't even get a display! If you really want a Toyota, then buy the Z grade with Navi Ready package or the Panoramic View package so that you can retrofit a player/display later from Sri Lanka. Even so, it would cost you over 6 million, and in my opinion, it is such a rip off! And being a grey import and all, it's just not worth it.

I guess my point is, you cannot have "everything" you are looking for in one vehicle. You would have to make some compromises and you would have to decide which of those compromises would affect you the least.

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On 1/19/2020 at 7:47 PM, shirand said:

Which one is the most advisable option considering my requirement (resale value after 5 years)?

Well, if you are thinking the resale value, Consider the MG ZS 2019 was sold brand new for 5.35mil, now there are ones advertised with around 10k on the odometer for 4.4mil. That's a textbook example for depreciation. In five years, my guess is you'd be lucky to get back 3.5mil.

Along with all the electronic gimmicks inside, The MG ZS doesn't feel like a terribly solid car to make trouble free 5 years in Srilankan roads.

Kia Stonic has both GDI engine and DCT gearbox, both technologies did not fare well with Srilankan fuel and traffic conditions. True that the agent provides a 5 year warranty but as someone said, a time bomb is a time bomb, even you get 5 year warranty for recharging the bomb.

Cannot predict the market behavior of the Raize since it's too early. For all we know, It can be either the next 121 or the next 141. People will either start worshiping or avoid it like the plague.

Remember the resale value is purely based on public perception. No matter what automotive enthusiasts say, they are always the minority. Among the classifieds and the quick ad sites, you'll always fetch a premium for a well known brand.

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43 minutes ago, fiat fan said:

Manjula Peiris has a BMW Z4 and a LWB Range Rover. That means they will be having the highest market in the future,not Toyota.

That's the only logical choice right now, You gotta follow the great seer of futures ?

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37 minutes ago, alds said:

That's the only logical choice right now, You gotta follow the great seer of futures ?

Ofcourse machan. Prabu waru ne e gollo.

 

Its sad that they earn millions and live a very luxurious lifestyle, but their followers pawn their testies for "apala mudu & yanthara" and go from bad to worse. Our people are way to superstitious. Same applies top car market in SL.

Edited by fiat fan
Damn auto correct
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  • 4 weeks later...

Updates:

Thank you all for your valuable responses. Those were really useful. During past few weeks I took time, observed the market and had some test drives too. Below are the findings as of now :)

Hyundai Venue: OUT. Since it's made in India and Not met my preferences. 

MG ZS: OUT. Visited their showroom and had a test drive. Car and ride was nice. Interior quality and comfort / space batter than I expected (except for few areas). But considering the future uncertainty on resale and reliability had to exclude this nice car even I was so attached to it. 

Toyota Raize: OUT. Couldn’t manage a test drive, but visited a car sale and took a look. When considering the price tag (Z grade is going around 6.5 mil) it’s overpriced. Many car sales said they don’t have stock but can order for the next shipment. When looking at the interior quality it’s below the expectations and looks & feels cheap. 

KIA Stonic: Possible buy as of now. Went there and took a test drive (Ex grade with luxury package, which has leather interior). Satisfied about the features, comfort and the look and feel for the price they offer (5.5 mil). There might be some pros (5 year agent warranty) and cons (DCT/ GDI). Still this may be a good buy. 

BUT, as the Raize is out from the picture, for the same budget (6 mil, max 6.2) Toyota C-HR is coming into the picture to evaluate against the Stonic. This is mainly due to the C-HR got safety features such as radar brake, adaptive cruise control etc. KIA does not bring the Stonic safety edition to SL market, so we will get only normal cruise control and reverse sensors.

Now the comparison is between a brand new 2019/ 2020 KIA Stonic Ex vs unregistered (reconditioned) Toyota C-HR 2017 GT (with safety package). 

(As main context of this thread is diverting, I will open a new thread for this). 

Edited by shirand
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