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Thread: Year 2016 : Willing to buy City-2008 via Bank Lease

  1. #1
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    amiransary's Avatar
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    Exclamation Year 2016 : Willing to buy City-2008 via Bank Lease

    Salaam,


    I need members precious advice.

    Right now, I've 3,75,000/- and I willing to buy Honda City.
    I've checked and found 2008 model which cost is 8 Lac or so is cheap.

    I can buy other small cars too like Mehran, Khyber or Cultus, But, I like to visit and now planning to visit Karachi to Naran or other areas via this some big car with 2 Adults and 2 Children ages 10 years.


    I asked from Burj Bank and they furnish me the followings (3-years installment plan):

    (RS)
    Down Payment 3,44,000/-
    Processing Fees 8,120/-
    Insurace 1st year 30,000/-
    --------------------
    Total 1st year 3,82,120/-
    --------------------

    1st year installment 17,503/-
    2nd year Installment 17,378/-
    3rd year Installment 15,253/-

    (Dubai bank plan is almost same to this)

    ================================================== =======

    1. My issue is this, now is year 2016,
    Honda city Model 2008 is worth to buy ????

    or I go to Liana 2013 model which worth is just 9 lac
    but, I i heard, Liana has too many problems and I afraid it from long route.

    2. How to check old city cars while purchasing
    3. how is city 2008 Maintenance as I daily travel about 35 KM daily
    4. What about 8 years old car Insurance.


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    I thought that bank don't lease car older than 5 years ?
    Corolla Altis 1.6 2016-to date
    Wagon R VXL 2014-2016

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    City 08 is good car but i dont think it sensible to lease it, better consider newer options else buy a well maintained corolla 1988 with a 5AFE swap. Believe me its much better than city in all aspects provided u get a well maintained one.
    <..If everything seems under control, U r not going fast enough..>

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    Quote Originally Posted by Sarkaar View Post
    I thought that bank don't lease car older than 5 years ?
    Conventional banks, yes 5years. But the banks he mentioned are islamic they might be renting 7 year used vehicles.

    Quote Originally Posted by mansoor_qadir View Post
    City 08 is good car but i dont think it sensible to lease it, better consider newer options else buy a well maintained corolla 1988 with a 5AFE swap. Believe me its much better than city in all aspects provided u get a well maintained one.
    +1

    Honda's are a Charm just for 5 - 6 years, after this they are full of surprises. Owners with more then 8 year old Honda's become full engineer naming accurately for each engine/suspension spare.

    My Taya owns a 2005 Oriel and he knows more then me for good honda mechanic and spare cost.
    I am only responsible for what I say, not for what you understand..

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    plus the insurance wont give you anything due to the depreciation part, depreciation is 10%/ year, most is 60%
    total waste of money to go for an old car for lease, almost no insurance cover + bank hassle + 2% more interest charged on old/second hand vehicle.
    agay aap samajhdar hain.


    Lease is just a Charm, after just 6 months, you will start calculating the interest of how much you are paying
    + her mahinay qist bhernay ki zalalat.
    Always remember, the best things in life are not things.

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    Islamic banks burj n dubai islamic do lease upto 9 years old car.. Rather state bank has allowed each bank to lease up to 9 year old car.. But its conventional banks own policy to lease max of 5 years old car..

    Sent from my LG-D851 using PW Forums mobile app

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    U should better buy a new wagon r through this money.. A true piece of mind for 5 years.. Down payment will remain same.. Installment will also remain same just tenor will increase from 3 years to 5 years...

    Sent from my LG-D851 using PW Forums mobile app

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    Just came to know that you have bought honda city idsi.
    I am also interested in buying honda city idsi just want to know what's your experience of driving and fuel consumption.?
    Is 8 to 10 year idsi lessen in performance or gives any issues?
    I also want to buy to keep this car for 4 years tension free. So is it good to buy this model
    Can you also share some pics of your car thanks

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    Quote Originally Posted by KamranAslam View Post
    Honda's are a Charm just for 5 - 6 years, after this they are full of surprises. Owners with more then 8 year old Honda's become full engineer naming accurately for each engine/suspension spare.

    My Taya owns a 2005 Oriel and he knows more then me for good honda mechanic and spare cost.
    Don't want to start a Honda vs Toyota war, but it doesn't depends on brand rather it's how one maintain their car. I have seen many old model Honda cars still very well maintained. Car demand proper maintenance which people fail to do and then complain about car not performing well.
    Regards,
    Kashif Rafiq

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