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Vehicle permit - What to do?


Pubsamare

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First of all, I am sorry if I offend anyone here by asking this and I hope I am not breaking any forum rules, and please pardon me for the very long rant. I know very well that the permit is given for the relevant officer to buy a vehicle and selling it is unethical. Having said that, I would like to be blatantly honest and discuss the real life situation. 

I have been in the government service for 6 years and I am eligible for the permit now. I do not have a rich family background I have bought my first car (a manual honda ek3) with a loan, which I am still paying back. Although I am due for the permit, I do not have any savings to buy a vehicle and too many loans to get another vehicle loan. If I had enough money, I would certainly buy a dream car ( a manual one again with a good motor!) But given the real life situation, I would like to make the most of it without letting the permit go to waste, to pay back my loans as well as my fathers which he took to educate me and go for a slight upgrade of my car.

My current options as I see them are, 

1. Sell the permit for the market value, pay back theloans (close to 1.5mil), and either

i. to go for a repair and some upgrades to my current car.

ii. sell my car and go for a slightly better car

iii. sell my car, take another small loan and go for a bit better car. 

2. Import a car for the permit, sell that car and go for either i, ii or iii above. 

If I go for option 2, i need to find the money to import a car by selling my car and going for another loan to find the balance needed. 

So, understanding the unethicalness behind this question and hoping you all forgive me, my queries are;

1. Which of the above option is better to get the most benefit? Are there any other options better than these?

2. If I go for option no. 2, is there any other option other than a loan to find the deficit?

3. What would be better, upgrade my beloved ek3 manual vtec or go for an upgrade (I expect it would cost about 4k to repair and upgrade my current car) ? If I should go for an upgrade, what would be the options with my requirements being,

i. Manual transmission (or triptronic atleast)

ii. Good driving pleasure

iii. Acceptable fuel economy (need not be very good, but hopefully better than 5-6 kmpl)

iv. Sedan

 

Hope you guys will help me as you all have done before...

Thanks in advance.

Edited by Pubsamare
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I would say you should stick to the EK and fix and do some sensible modifications to it. A decent EK2 is pretty rare in SL and many enthusiasts will drool over it till the end of their days. 

Even if you sell the EK and try to buy another car, your choices are limited (especially in finding something that feels better). Also, you have no idea what the condition of the new car would be....

 

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Given your current situation best option would be to sell the permit pay off the loans and use what you have.

To get a decent ride for the permit you will have to spend at least Rs. 4.0 Mn.

When you pay off your loans your disposable income will go up hope fully allowing you to do bit of saving for the next permit.

Don't even think of importing and selling it will not work, you are not a car sales guy and has not resources.

 

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On 5/2/2019 at 11:18 PM, Pubsamare said:

1. Sell the permit for the market value, pay back theloans (close to 1.5mil), and either



If your permit is the 3.6million permit you can sell it for much more than 1.5 million. 

Actally you can sell it close to 2.5 million.

One sales guy asked 2.3 for mine could have asked for more if i needed to.

If you are bringing down one eg-chr would cost around 3.3 million but can sell off for Close to  7 million+ so youll earn the 3.6 million but if you have to take lot of loans and do a lot of gil-mart to get the initial youd be better off selling it off.

But you can go for more than 2.3 million for it so remember to give the hora who tried to buyit for 1.5 million a knuckle samdwitch.

If your not sure about the price check i#m@n

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The price for permits during mid last year was between 2.3 to 2.45 million. A relative of mine also in the government service had a very tight budget so exchanged the permit for a kei car

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9 hours ago, matroska said:

The price for permits during mid last year was between 2.3 to 2.45 million. A relative of mine also in the government service had a very tight budget so exchanged the permit for a kei car

IMG-20190502-WA0021.thumb.jpg.c7aaa460054f8bc6f57c8de568dcbf94.jpg

This time price depend on the issued date. (a) means Retirement permits and (b) means currently working government officer's and DPL permits.  But my advice is don't give your permit to anyone until it allowed to open a LC. During last 6 months car sales guys used few permits in an illegal way but customs inquiry is going against the permit holder. Because "I sold my permit to this guy" is not a legal answer. So now the permit issued date is a very important thing.

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Thanks a lot for the suggestions and advices guys. Definetely wont be giving it up until I am able to open LC. I have a few worries which makes this decision a bit complicated. 

1. My car is almost 25 yrs old now and has been needing some running repairs which seems to be increasing in frequency recently. So will it be better to go for a newer one considering the possible cost of probable repairs? (already I could spend north of 2k if I had the money!!! I become a bit selfless when spending for my car!)

2. I am due for the permit in September according to the new circular. Will the value drop even further by that time?

20 hours ago, matroska said:

The price for permits during mid last year was between 2.3 to 2.45 million. A relative of mine also in the government service had a very tight budget so exchanged the permit for a kei car

Definitely not a kei car bro... I'd rather go for a 30yr old proper car. I enjoy taking an evening ride on my own just to relax myself... last week drove along hantana for 2 hours because the day was stressful at work. I am not going to give up that hapiness!?

Edited by Pubsamare
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10 hours ago, Pubsamare said:

Thanks a lot for the suggestions and advices guys. Definetely wont be giving it up until I am able to open LC. I have a few worries which makes this decision a bit complicated. 

1. My car is almost 25 yrs old now and has been needing some running repairs which seems to be increasing in frequency recently. So will it be better to go for a newer one considering the possible cost of probable repairs? (already I could spend north of 2k if I had the money!!! I become a bit selfless when spending for my car!)

2. I am due for the permit in September according to the new circular. Will the value drop even further by that time?

Definitely not a kei car bro... I'd rather go for a 30yr old proper car. I enjoy taking an evening ride on my own just to relax myself... last week drove along hantana for 2 hours because the day was stressful at work. I am not going to give up that hapiness!?

yeah i read - you can use the money to sort everything out with your current car or do a minor upgrade.

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