We have available funds of Rs. 11 Lacs through 06 years of bank financing for Car.
We can get a car as old as Model 2010. (Imported/Local - Used/New).
We need to select and evaluate the car on the following points:
1. The car should retain its value after completion of financing tenure i.e. 06 years so that it could be resold on fair value easily.
2. The maintenance cost should be cheaper.
3. Fuel efficiency with AC.
In Rs. 11 Lacs, we can consider the following cars:
a. Mira ES (G Grade) - Model 2013-14.
b. Cultus VXR - Model 2010 to 2016.
c. Corolla XLI/GLI - 2010-11.
Personally, i feel Corolla is a better car in terms space, comfort, sturdiness and resale value but on the other hand i am unaware about the maintenance cost and fuel consumption with air conditioner.
However, Mira ES (G Grade) (G Grade refers to Top of the Line Model) seems like a better option as we can get 2013-14 Model in Rs. 11 Lacs with mileage of 15,000-20,000 with fuel efficiency of 25 KMPL. It would also be equipped with air bags, alloy rims, multimedia LCD panel, power windows, power steering, push start button and automatic transmission. But I have also heard that the spare parts are very expensive like Headlight cost around Rs. 25,000. It is also important to know if Mira ES (G Grade) would retain its value after 06 years.
And finally, we can get Cultus from 2010 to brand new 2016, but Cultus does not even have power steering or power windows, plus its ride is not smooth if we compare it with Corolla or Mira which heavily affects the comfort factor.
As it is going to be my first car, i am totally puzzled right now regarding the car selection as i dont have any knowledge regarding maintenance and keeping the car.
Please guide me which car should be a better choice for us?