Thank You For Purchasing A Honda: Fill & Download for Free

My brother buys late model luxury cars. He currently owns a 2006 Merced’s and a classic 84 Porsche 944. I Have always driven Honda’s and Subaru’s, so I think I have some good insight into this.THIS IS MY OPNION AND DOES NOT INCLUDE THE FANATICAL CAR LOVER THAT FACTORY (or ASE?) SERVICES ON TIME WITH BLANK CHECK IN HAND (God love them)Bavarian Motor Works produces some of the finest vehicles in the world. Some even share powertrains and feature with Rolls Royce. They are marvels of tolerance management and engineering, and like you said they have a lot of features, are fast & safe, everything you mentioned could not be more true.It is this very same engineering that will eventually nickel and dime you. EX1: My brothers passenger side headlight went out about a year ago. He was very lucky and found one online for $246 plus S&H. Unfortunately, due to over engineering he was unable to install it himself. He said it required removal of a body panel to access the mount and blah blah blah. He ended up paying $450 and change in total. Months pass and my driver side headlight failed. I went to Walmart, purchased a bulb, installed it and went on my way, $14.73.Your BMW will have more features and because of that more failures than a Honda. The same applies to humans. The bigger the human, the more cells. The more cells there are, the more opportunities for cancer. It is what it is and can’t be changed.Unless you plan on maintaining your bmw yourself, you will eventually be overwhelmed by the price to maintain your car. EX2: That little switch in the beemer that you turn to do that one thing. When that breaks, you will find it was attached to a sensor that broke as a result, and it’s not just one switch but rather 5 small interconnected pieces with 2 of them that monitor ride height and fuel tank carbon levels lol. In a Honda it is just a switch.Unless you are fanatically serious about your service, your cars dash board will look like a Christmas tree. Every one of those lights? Figure 1k (Very conservative) to fix. Sensors? Oh forget about sensors and master cylinders, but you cant because they haunt you in your dreams.Arguably the best cars in the world; If you think that you are in a place in life where you can treat your BMW as it deserves to be treated then get on it. If you aren’t in that place but want to act like you are, it Is going to cost you. My brothers roommate lost a key to his Mercedes: 500$ gone. If it was a newer model it would cost $1000 dollars to replace. My Subaru was 125$… and they came to me.Both are bulletproof brands and both get you to the place you want to be. Reliability is well above average for both car brands. its about the driving experience and where your priorities are in life.*Edit: Thanks y’all for the the upvotes. Pleasant surprise indeed

Very bad idea.The car is a depreciating asset and the more expensive the car, the more is the depreciation. After 8 years when you wish to sell/change the car (and let me assure you, you will, maybe even earlier), the car will fetch you at most 5 lakhs. Buying a new car, any large car, is never a financially sound decision.If you go for Rs. 12 lakhs loan at 9.25% rate for 5 years, you will pay an EMI of Rs. 25,056. Your total payment (assuming on road cost Rs. 16 lakhs) will be:Cost of car (approx. on road price S Diesel) = Rs. 16,00,000Down payment = Rs. 4,00,000Loan amount = Rs. 12,00,000Interest Payable over 5 years = Rs. 3,03,353Total = Rs. 19,03,353But here is the catch. Assuming that Rs. 80,000 is your net salary per month after tax, you have no other loan and your monthly expenses are Rs. 30,000, your loan eligibility is just about Rs. 9.5 lakhs.The Creta is very expensive to run and maintain also. The diesel Creta returns about 15 kmpl (real world) and then it depends upon you monthly riding.The cheapest insurance in metro and Tier 1 cities is Rs. 35,291 for the first year. If you go for Zero Dep insurance, the price will be Rs. 41,723. After 1st year, the insurance will reduce because WDV is lower and if no claim is made in the previous year, there will be no claim bonus.The basic service cost of Creta is Rs. 3,300 in first year, Rs. 5,500 in years 2 & 3 and then increases by Rs. 2,000 every year next. This does not include any parts, accident repair, etc.I have tried to be as objective as possible. The decision is yours.Edit (18-Nov-2020, 6:20 PM): Since I am tired of answering same comments and observations, I am disabling comments now. Normally, I love the interaction, I try to explain my PoV. It helps in expanding the answer also. But it is nothing new now and hence the action. It is not out of disrespect to any of you but because it is just a repetitive event - either you agree or you don’t. That is OK.Let me put some final thoughts. I am not against buying cars. I am not against buying expensive cars either. Indeed, I bought one as can be seen below. There is no problem is spending money as long as there is a Return on Investment (ROI) and it brings value (VFM). Overall, one should be able to afford. Clearly, in the current case, the OP can’t afford the expense. So my answer begins with “Very bad idea.” Be a good judge of yourself and your situation. Thank you.I had Honda Civic in 2010 - for 15 lakhs. I could afford to buy even a C Series Merc at that time. In 2018, I sold the Civic for Rs. 4.2 lakhs. It was sparingly used and in top condition (see photos). This was to a private party. Cars24 offered me Rs. 2.4 lakhs (quite ironically the exact reverse digits). See the depreciation? I have purchased a Honda Jazz V-CVT now and today I can afford a E Series Merc. Once inside the car, it really does not matter. I am just as happy with the Jazz.(Above: 2010, me getting delivery of Civic, Below: 2018: Just before selling)If you are in similar situation, you can take my advice or ignore it completely. Choice is yours because it will be your money. I mean well and not pessimistic. I am a realist and pragmatic.Edit and slightly offtopic: Many people still cannot distinguish between an asset and a liability. I am forced to explain this one almost every such loan answer - be it buying home on loan or buying a car on loan.An asset is something that you own. A liability is something that you owe to someone.An item purchased is an asset. Just because it carries a loan does not make it a liability. The loan is a liability. If you fail to pay the loan, the security against the loan, usually the asset changes ownership. Many people take loan against an FD. That does not make the FD a liability. Some take loan against property. That does not convert the property into a liability. The loans are the liability.Many people also come back and comment that an item that carries regular expense or maintenance or outgo or depreciating is a liability. Could not be more wrong. Personal fixed assets do not earn income. Most assets depreciate. Even money in bank is depreciating. A property for rental is losing money when rent is not recovering the cost. The items that we have at home (furniture, appliances, etc.) are also assets. Assets can appreciate or depreciate. That does not change the financial definition.

According to me, the maintainance of Honda cars in India is decent and not at all low. But maintaing a current Honda car actually does not feel that premium as it was not long ago. This is because Honda have successfully diluted their premium image in India by entering many volume specific segments.Honda as a brand cannot command a bit more on their cars today when it comes to the price front. Due to that, quality in their cars has downgraded and to be honest, cost cutting in their models are evident today. Even in the used market most of the Honda owners could not command a premium for their vehicles.That was not the case a decade ago as a well maintained Honda car could be sold at just a fraction less than its purchase price. The ones selling the car had a strong point backed by Honda's efficient service centres and class leading reliability. As of now, Honda cars operating in the premium segment are struggling to entice buyers and it is all due to the cheap is good approach that the brand employed here.A suitable example for that comes in the form of the City, which without doubt is Honda's best ever model launched here. There was a time when the City was the most affordable Honda product available here. Then, a few years later it almost became Honda's most expensive product in India.But on the plus side their good dealer network does give out spares and service at an affordable rate. I am neither urging pepole to ignore Honda nor am I writing the brand off. Instead I am trying to give my insight on whether buying a Honda would be a good choice for you or not.Picture Credits: Autocar India.Thank you.