Jump to content
  • Welcome to AutoLanka

    :action-smiley-028: We found you speeding on AutoLanka Forums without any registration! If you want the best experience, please sign in. Safe driving! 

ange88

Complex Cash flow issue hybrid vs Vitz

Recommended Posts

Hi guys,

Sorry if this is a repost though I did my best to find a similar topic to dig out an answer. At the moment I am using a toyota 121 G grade (YOM 2002) and I am daily travelling to town hall from Kadawatha. Due to severe cash flow issues I thought of selling my car and go for an economical car after settling some debts and refinancing for a new car which can help me to reduce my fuel cost.The option number 1 I have is a toyota aqua 2013 or 14 model or go for a toyota vitz 2015 model. This is how I have evaluated my options based on my knowledge and appreciate if you can add some inputs.

1. Aqua - Yes it will definitely have  good fuel economy and the hit on my  expenses will be low but its highly unlikely that you will find a good car as most of the cars are heavily used and meters are reversed. so I am afraid that any issue in battery may pop up cz I will not be able to entertain that cost.Also after using for 4 or 5 years I dont think I will be able to sell it at least for 2.7 million.

2. Vitz - Not economical as Aqua and wont be that much different to my current 121 when it comes to fuel..Am I correct? But will have a good resale value and can get an unregistered car 

 

 

Share this post


Link to post
Share on other sites

Seems like your option 2 is what I choose if I have to go through your situation. You know what, I ended up buying a Suzuki Alto for daily Colombo driving. The reasons I went for that were 

1. Because it was brand new (I know from experience, ODOs on 99.9%  of cars are changed and even service records are redone to fool the buyers. Happened to gave up few vehicles and 4 days later the same was on Ik*an with a 60% reduction of ODO reading and altered maintenance records which a normal buyer can't detect. )

2. Ease of maintenance. (The cost of maintenance not only the fuel but other stuff like spares and services are very low. )

I never though of resale value because at the time I needed a solution for one problem. I hope it won't be too bad later if I will sell it but who cares, it serves for the need at the moment. 

Since you don't need to maintain your personality over an expensive car or not need to pretend to show your girlfriend that you are a rich bastard, go for the option 2. (One reason I said because I really don't like hybrids and forgive me for that. )

Hope this helps at least a little to you. :) 

Share this post


Link to post
Share on other sites
Posted (edited)

Option 2 all the way, 

The aquas here have aged and been hacked, most need a new battery and redone to fool buyers. An aqua with a faulty hybrid system is not at all economical to run let alone repair.

A vitz unreg as a direct import or from a credible source is a far better option 

I bought 2 keis to cut down fuel costs after using thirsty diesels, quite happy with the decision , garage visits have gone so low that the mechanic calls to find out if I went abroad or died. 

Edited by tiv
  • Haha 5

Share this post


Link to post
Share on other sites

Hi, no offence but dont think selling your car and re financing to get another car of higher price will help your situation.

If your sole purpose of selling the 121 is to get out of the crisis, what I believe is the best to buy something of lower price at least temporarily. In that way you get out of the crisis.

And being used both ICE and Hybrids I can tell you, you will not get the financial benefits of fuel unless you keep it a very long time. I mean 'very' long. Because you will face higher insurance cost with the newer car and 'any' car can breakdown and issues can be there. 

 

  • Like 2
  • Thanks 1

Share this post


Link to post
Share on other sites
42 minutes ago, Nishan.dj said:

Seems like your option 2 is what I choose if I have to go through your situation. You know what, I ended up buying a Suzuki Alto for daily Colombo driving. The reasons I went for that were 

1. Because it was brand new (I know from experience, ODOs on 99.9%  of cars are changed and even service records are redone to fool the buyers. Happened to gave up few vehicles and 4 days later the same was on Ik*an with a 60% reduction of ODO reading and altered maintenance records which a normal buyer can't detect. )

2. Ease of maintenance. (The cost of maintenance not only the fuel but other stuff like spares and services are very low. )

I never though of resale value because at the time I needed a solution for one problem. I hope it won't be too bad later if I will sell it but who cares, it serves for the need at the moment. 

Since you don't need to maintain your personality over an expensive car or not need to pretend to show your girlfriend that you are a rich bastard, go for the option 2. (One reason I said because I really don't like hybrids and forgive me for that. )

Hope this helps at least a little to you. :) 

Thanks buddy.I do appreciate your valuable feedback

Share this post


Link to post
Share on other sites
29 minutes ago, tiv said:

Option 2 all the way, 

The aquas here have aged and been hacked, most need a new battery and redone to fool buyers. An aqua with a faulty hybrid system is not at all economical to run let alone repair.

A vitz unreg as a direct import or from a credible source is a far better option 

I bought 2 keis to cut down fuel costs after using thirsty diesels, quite happy with the decision , garage visits have gone so low that the mechanic calls to find out if I went abroad or died. 

Thanks Tiv.. Appreciate your attention towards my question. Any idea about the fuel consumption of Toyota vitz 2015 model? specially in city limits?

Share this post


Link to post
Share on other sites
23 minutes ago, GK_007 said:

Hi, no offence but dont think selling your car and re financing to get another car of higher price will help your situation.

If your sole purpose of selling the 121 is to get out of the crisis, what I believe is the best to buy something of lower price at least temporarily. In that way you get out of the crisis.

And being used both ICE and Hybrids I can tell you, you will not get the financial benefits of fuel unless you keep it a very long time. I mean 'very' long. Because you will face higher insurance cost with the newer car and 'any' car can breakdown and issues can be there. 

 

Hi bro.Thanks alot. Refinancing was the only solution as the interest I do pay for my debts is higher then the interest I would pay for a new loan machan.

Also I do not want to go for a lower price car as it will be a step backward after putting so much of effort to come to this level as I started my journey with a small motor bike few years back.NOT ego but I may not be able to raise my head as I just built a house and those loans are there too :)

Share this post


Link to post
Share on other sites
2 hours ago, Nishan.dj said:

Since you don't need to maintain your personality over an expensive car or not need to pretend to show your girlfriend that you are a rich bastard, go for the option 2.

 

1 hour ago, ange88 said:

I do not want to go for a lower price car as it will be a step backward after putting so much of effort to come to this level as I started my journey with a small motor bike few years back.

Someone just give me a knife to stab myself. :P 

Share this post


Link to post
Share on other sites
2 hours ago, ange88 said:

Thanks Tiv.. Appreciate your attention towards my question. Any idea about the fuel consumption of Toyota vitz 2015 model? specially in city limits?

Around 10- 13 in the 3pot 1 litre provided you are very careful.  people boast 17s and 19s but will not happen 

  • Like 1

Share this post


Link to post
Share on other sites
3 hours ago, ange88 said:

Hi bro.Thanks alot. Refinancing was the only solution as the interest I do pay for my debts is higher then the interest I would pay for a new loan machan.

Also I do not want to go for a lower price car as it will be a step backward after putting so much of effort to come to this level as I started my journey with a small motor bike few years back.NOT ego but I may not be able to raise my head as I just built a house and those loans are there too :)

I once drove a Honda FIT GP4 and had to sell if off due to my wedding matters. After the GP4 I drove a old 2 door Alto for sometime 😊. Things happen in life , being able to adopt to any situation is maturity. 

 

To your question selling the 121 and buying the Vitz will only give you worry free ownership. Not so much fuel economy to even think about. I also don’t think you will appreciate the smaller cabin with less bells and whistles. You will lose out some comfort on long journeys. IMHO you are going to do a downgrade. 

  • Like 1

Share this post


Link to post
Share on other sites
On 1/8/2019 at 2:09 PM, ange88 said:

Also I do not want to go for a lower price car as it will be a step backward after putting so much of effort to come to this level as I started my journey with a small motor bike few years back.NOT ego but I may not be able to raise my head as I just built a house and those loans are there too :)

@ange88 Buddy not to be rude or anything, but this IS the definition of ego. This is something most Sri Lankans don't understand, given how we are a society that is obsessed on keeping up with the Pereras, but please remember that you are not your car/job/school etc. Your opinion of yourself should not be defined by things like this, and don't let your self esteem suffer like that. And also, why look at this as a downgrade? If you look at the big picture, you started with a motor bike true, but today you are well on your way to home ownership. Back then, you didn't have a house of your own right? But now you do. To me, that is growth and an improvement in your situation. If you have to stick with a smaller/older car to achieve that dream, is there really anything wrong with that? I don't think so. So don't be so harsh on yourself. Cheer up! :)

About your car choices, remember that your financial situation is your biggest constraint. Second, keep in mind that in general the second hand car market in Sri Lanka is like opening a can of worms. Avoid if possible, and buyer beware! (Basically, you have to be really really careful and patient to get a good deal). In that context, I would also agree with what the others have said here about going for the Vitz. Second hand hybrids in SL, especially the Aquas currently on the market, have all been used very harshly/or could be due for somemajor repair like battery upgrades and things like that, which is not something you want on your hands right now.

Coming from a economic and finance background myself, let me tell you one more thing. You might be better off focusing on aggressively settling your debts. Not only will it help you sleep better, that is also the fastest and best way for you to pave the way to upgrade to a bigger, better car later on. The interest costs can kill you, especially in this environment, where interest rates on loan will start moving upwards. Your bank won't tell you this, but a 1% adjustment can make a HUGE difference (I can prove this to you mathematically).

Therefore, do consider the option of selling the 121 and going for something like an Elite, or kei car like the Wagon R, which should lower your running costs, and also won't add to your already high debt load, thus reducing the financial breathing space you have. The amount you save, you can divert towards paying down your debts or saving for a rainy day. I have a friend who did exactly this, and he is glad he did it.

And finally, there's something else. It's very easy for all of us sitting on the other side to give advice, but when it comes to something like this, remember that this is Sri Lanka (i.e. Keeping Up With Perera syndrome). Therefore, even if you take the prudent way of downgrading to a more economical car,  you decision will be vetoed by your wife/mother in law/neighbour/ Albert Uncle in London etc. Especially your wife, if you are married. First have these tough conversations and then decide for yourself :)

  

  • Like 2

Share this post


Link to post
Share on other sites

Don't stress yourself financially. Till you can afford it buy something cheaper! My first car was a '99 Pug 405 that I bought for 400,000 without any financing. only when I could AFFORD it did I sell it to buy another car. Don't go into debt to keep appearances buddy! best lesson I learned!

  • Like 2

Share this post


Link to post
Share on other sites

Ok my honest two cents - from experience newer cars do not guarantee lower costs BUT you will not have to worry about things for a few years. For example take an older car you might have to fork out that bit of money for basic replacements like the mounts for example, your silencer barrel etc. You can avoid those in a relatively newer car. You have a bit of risk with the aqua here. But again not all hybrids are nightmares. Its just that you have to be extra cautious. ( here's an example not every girl in South Africa has AIDS and not every girl in Sweden is HIV free BUT you are at a higher risk of contracting the disease  if you had unprotected relationships with a girl in Johannesburg as opposed to one  in Stockholm)

Now the Vitz is a step down from the 121 but i think you will have a few trouble free years. But do not expect magic fuel figures. Don't think of getting a small car as downgrade. A relative of mine is building a house. So he sold his aqua and Pajero IO, and an old vanette which was a family heirloom, and bought a passo. It's just a practical decision based on requirement. 

Edited by matroska

Share this post


Link to post
Share on other sites
On 1/8/2019 at 5:21 PM, TheFlyingFox said:

I once drove a Honda FIT GP4 and had to sell if off due to my wedding matters. After the GP4 I drove a old 2 door Alto for sometime 😊. Things happen in life , being able to adopt to any situation is maturity. 

 

To your question selling the 121 and buying the Vitz will only give you worry free ownership. Not so much fuel economy to even think about. I also don’t think you will appreciate the smaller cabin with less bells and whistles. You will lose out some comfort on long journeys. IMHO you are going to do a downgrade. 

 

19 hours ago, YoungGrasshopper said:

@ange88 Buddy not to be rude or anything, but this IS the definition of ego. This is something most Sri Lankans don't understand, given how we are a society that is obsessed on keeping up with the Pereras, but please remember that you are not your car/job/school etc. Your opinion of yourself should not be defined by things like this, and don't let your self esteem suffer like that. And also, why look at this as a downgrade? If you look at the big picture, you started with a motor bike true, but today you are well on your way to home ownership. Back then, you didn't have a house of your own right? But now you do. To me, that is growth and an improvement in your situation. If you have to stick with a smaller/older car to achieve that dream, is there really anything wrong with that? I don't think so. So don't be so harsh on yourself. Cheer up! :)

About your car choices, remember that your financial situation is your biggest constraint. Second, keep in mind that in general the second hand car market in Sri Lanka is like opening a can of worms. Avoid if possible, and buyer beware! (Basically, you have to be really really careful and patient to get a good deal). In that context, I would also agree with what the others have said here about going for the Vitz. Second hand hybrids in SL, especially the Aquas currently on the market, have all been used very harshly/or could be due for somemajor repair like battery upgrades and things like that, which is not something you want on your hands right now.

Coming from a economic and finance background myself, let me tell you one more thing. You might be better off focusing on aggressively settling your debts. Not only will it help you sleep better, that is also the fastest and best way for you to pave the way to upgrade to a bigger, better car later on. The interest costs can kill you, especially in this environment, where interest rates on loan will start moving upwards. Your bank won't tell you this, but a 1% adjustment can make a HUGE difference (I can prove this to you mathematically).

Therefore, do consider the option of selling the 121 and going for something like an Elite, or kei car like the Wagon R, which should lower your running costs, and also won't add to your already high debt load, thus reducing the financial breathing space you have. The amount you save, you can divert towards paying down your debts or saving for a rainy day. I have a friend who did exactly this, and he is glad he did it.

And finally, there's something else. It's very easy for all of us sitting on the other side to give advice, but when it comes to something like this, remember that this is Sri Lanka (i.e. Keeping Up With Perera syndrome). Therefore, even if you take the prudent way of downgrading to a more economical car,  you decision will be vetoed by your wife/mother in law/neighbour/ Albert Uncle in London etc. Especially your wife, if you are married. First have these tough conversations and then decide for yourself :)

  

 

18 hours ago, kadsa98 said:

Don't stress yourself financially. Till you can afford it buy something cheaper! My first car was a '99 Pug 405 that I bought for 400,000 without any financing. only when I could AFFORD it did I sell it to buy another car. Don't go into debt to keep appearances buddy! best lesson I learned!

 

9 hours ago, matroska said:

Ok my honest two cents - from experience newer cars do not guarantee lower costs BUT you will not have to worry about things for a few years. For example take an older car you might have to fork out that bit of money for basic replacements like the mounts for example, your silencer barrel etc. You can avoid those in a relatively newer car. You have a bit of risk with the aqua here. But again not all hybrids are nightmares. Its just that you have to be extra cautious. ( here's an example not every girl in South Africa has AIDS and not every girl in Sweden is HIV free BUT you are at a higher risk of contracting the disease  if you had unprotected relationships with a girl in Johannesburg as opposed to one  in Stockholm)

Now the Vitz is a step down from the 121 but i think you will have a few trouble free years. But do not expect magic fuel figures. Don't think of getting a small car as downgrade. A relative of mine is building a house. So he sold his aqua and Pajero IO, and an old vanette which was a family heirloom, and bought a passo. It's just a practical decision based on requirement. 

I am so happy for giving ya honest opinion guys.It's wonderful to see that many of you guys putting efforts to type all of those huge feedback for someone that you really dont know....

after reading all the comments, I just realised that this game is all about ego as I work in a managerial position of a multinational company and downgrading is like losing to your ex's new boyfriend on highway.lol

 

 

  • Like 2

Share this post


Link to post
Share on other sites

why dont you rent a 121 for the time being. im sure it will be cheaper

Share this post


Link to post
Share on other sites

It seems to me that selling a 121 for fuel economy is not that benificial,since it’s also a very economical car. But if you prefer fuel economy over anything,buy a Leaf and charge it from your office.Buying an unregistered Vitz will give you only about 2-3kmpl advantage.Kei cars seems to be a good option.Buy a wagonR.

Share this post


Link to post
Share on other sites

Do some math.It’s simple.So think that you can sell your 121 for around 31.Then you buy a Vitz for 36(2015/2016 unreg model 1000cc).Additional cost of 5lakhs.Now you have to travel nearly 36km everyday.So let’s assume that 121 does 8km per liter on that route,and vitz doing 13km per liter(being very optimistic about the vitz😆)So when we calculate, vitz costs nearly rs.5 lower than the 121 costs to travel 1km.So you save nearly Rs.200 everyday.Now lets see how many years does it take to cover up the cost.Assume you got to work for 23 days per month.You will see the reduction of your fuel bill by Rs.4600 per month.The You have to cover up the additionally payed 5lakhs.You have to use the car for 111.11 months.Sheez man thats more than 9 years🤦🏻‍♂️😆

I just did a calculation for fun, and most of the values are not exact figures.But it gives a basic understanding that buying a Vitz for SAVING MONEY is not that much helpful.As a plus point,you get to drive an Unreg car an the car might be troublefree for around 6-7 years.Also the vitz is not that great as a family car as the 121 is far more comfortable and powerful.So it’s upto you to decide mate!

Share this post


Link to post
Share on other sites

Since you are considering vitz, I would suggest to consider Honda Jazz non hybrid version. It sell by agent. It's the same car as GP5 with minus all headache components like dct and hybrid. Same engine with cvt ( or manual ) gear box. Since Im owing gp5 I can say its very comfortable ride.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Register for a new account in our community. It's easy and FREE!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now



×