Selling AQUA 2012, and buying a new Vehicle - budget 6.5Mn-7Mn

[Rajitha85]

I own a 2012 AQUA, which I bought for Rs 4.2Mn in 2017. Have replaced the battery with new cells and it’s under warranty for the next 1.5 years. Have replaced the ABS also. Both repairs cost me about 3 lakhs. These days I'm getting offers for the vehicle within Rs 3.9Mn-4Mn range which I believe is a good price. After selling the car hope to go for a new vehicle within the budget of Rs 6Mn-6.5Mn.

However, I have following doubts in mind:

1. There will be no imports within this year, hence will the AQUA price move much higher resulting an opportunity cost for me?

2. What are the best options I have within my budget range which had a low price volatility? I don’t want to lose a lot when selling it back, and don't have much idea about the previous market price of the vehicles within my budget range. I.e. Kia Sportage, Honda civic turbo, Honda Grace Etc.)

Some people say it’s better to keep the vehicle and once imports starts sell it and import a new one for the above budget. Some say just take the opportunity and sell the car. 

I’m stuck in making my decision.

Highly appreciate your opinion on the above.

 

Thankyou.

[kush]

We don't know when the import restrictions will be taken out

We don't know what would be the exchange rate when the restriction are taken out JPY is Rs. 1.8 year ago it was Rs. 1.7

We don't know what the duty structure will be when restrictions are taken out.

You are trying to sell a car with a inflated price due to current market and then at the same time buy a car which would have a inflated price due to same reason.

Mathematically you will loose as the car you are going to buy has a higher price.

 

[RWD]

4 hours ago, Rajitha85 said:

I own a 2012 AQUA, which I bought for Rs 4.2Mn in 2017. Have replaced the battery with new cells and it’s under warranty for the next 1.5 years. Have replaced the ABS also. Both repairs cost me about 3 lakhs. These days I'm getting offers for the vehicle within Rs 3.9Mn-4Mn range which I believe is a good price. After selling the car hope to go for a new vehicle within the budget of Rs 6Mn-6.5Mn.

However, I have following doubts in mind:

1. There will be no imports within this year, hence will the AQUA price move much higher resulting an opportunity cost for me?

2. What are the best options I have within my budget range which had a low price volatility? I don’t want to lose a lot when selling it back, and don't have much idea about the previous market price of the vehicles within my budget range. I.e. Kia Sportage, Honda civic turbo, Honda Grace Etc.)

Some people say it’s better to keep the vehicle and once imports starts sell it and import a new one for the above budget. Some say just take the opportunity and sell the car. 

I’m stuck in making my decision.

Highly appreciate your opinion on the above.

 

Thankyou.

If you've just spent your hard earned cash on repairing your car why not you keep it because you know its good for atleast a few more years. When buying a used car you have no idea what kind of issues you may have if the previous owner skimped on maintainance. Unless you are well and truly sick of your car there doesn't seem to be a big reason to sell. 

[Rajitha85]

I really love the car it works well within my budget and does fuel like nothing.

But I'm thinking what if the prices goes back to Rs. 3Mn level. People have wierd sense when it comes to Hybrid vehicles. I'm very much fine If the current price levels stay steady till they allow imports. 

However, as KUSH said no one can predict the date imports will occur and the applicable tax rates. 

Guess its my call then  .😀 

Thanks for your replies guys. 

[iRage]

Well...for starters....although the "amount" of money you get is 3.9-4.0 mil (against a 4.2mil initial purchase cost); the value of 4mil LKR now is far less than what 4mil LKR was worth when you bought the car at 4.2mil...so don't get in to the false sense of security of thinking that your car is actually appreciating or that you have not "lost" that much value in the car. 

Beyond that...the call is your's...as some have mentioned...you have invested in fixing the car....so might as well use it more and whatever disposable funds you have which you were saving for the new car...invest it ? Heck..by some gold and bury it in a treasure box. If you want something to make the Aqua feel a bit fresh and new to you...think about some meaningful upgrades (better AV system....better brakes and suspension...wheels....etc...). The Honda options are nicer and interesting cars to drive...but then you never know what you are buying. Then these cars have their own issues (dual clutch with the Grace...integrated electronics that go crazy come to mind; Civics being poorly maintained and shunned by people who were expecting to get 300km per liter of petrol and two cups of lerosene oil mixed with water).

Even when imports are open....the chances of the SL currency being in the dumps is quite high. So..face value of what you will get for your old car and what you pay for a new car will remain high.