Used Audi Q7 and BMW X1 selling for less than Rs. 10 lakh
Demand for luxury cars in the used car market has been increasing the past few years. Luxury cars like any other luxury good tend to depreciate very fast and because of the same reason a well maintained used luxury car is most of the time available at half the price of a brand new one. Some times the prices are one fourth of the original price of the car. We have seen several luxury cars on sale and some of them have been featured on our website as well. Here we have two luxury SUVs from different segments which are currently selling for a price less than Rs 10 lakh.
The advertisement has been shared by babaluxurycar on their Instagram page. The first car in this list is an SUV which was once the flagship model for Audi in Indian market. The SUV is the Audi Q7 which is a full size SUV. The grey colour SUV looks well maintained on the outside. There are no major dents or scratches seen anywhere on the car.
Also read: Used cars we have forgotten, at dirt cheap prices
The SUV gets projector style headlamps, LED DRLs, headlamp washers, front parking sensors, company fitted alloy wheels, LED tail lamps and so on. On the inside, the SUV looks well maintained too. There are features like split sunroof, 4 zone climate control, company fitted screen which shows feed from reverse parking camera, multi-function steering wheel, air suspension settings, cruise control, leather wrapped seats, electrically adjustable seats with memory function and so on.
Coming to the details, this is a 2011 model diesel automatic SUV. The SUV is powered by a 3.0 litre TDI engine. The car is registered in Delhi and the asking price for this well maintained Audi Q7 SUV is Rs 9.95 lakh.
Next car in this list is an entry level SUV from BMW. The BMW X1 compact SUV competes with cars like Q3 in the segment. The SUV here gets a champagne gold shade which is common colour in BMW cars. The car looks in good condition. There is a dent on the bonnet of the car and other than that no major scratches or dents are seen on the car.
It gets company fitted alloy wheels, halogen headlamps, rear parking sensors, LED tail lamps, reverse parking sensors and so on. On the inside, the BMW X1 gets black and beige dual tone interior. There is a gloss black panel on the dashboard which gives it a premium look. The SUV gets dual zone climate control, multi-function steering wheel, company fitted stereo, push button start and so on.
It also comes with beige colour upholstery and overall, the interior on this SUV looks well maintained. Coming to details, this is a 2013 model diesel automatic SUV. The SUV has done approximately 68,000 kms on odometer. The car is registered in Haryana and asking price for this BMW X1 compact SUV is Rs 7.95 lakh. Interested buyers can get in touch with Baba luxury cars on 8510830242 or 9643267990 for both the SUVs. It is always a good idea to have a closer look at the vehicle before finalising.
Also read: Man sells car online & “steals it back 5 times”
Buy a luxury car without a loan! Here’s how
With fractional ownership, you won’t have to take a loan for your car. Instead, you can easily pay for it with the returns from your investment.
A luxury car is a key marker of one’s financial and social status. As someone who is doing well in life, you would naturally want to communicate your status with an elegant luxury car. But if a car loan is part of the plan, hold on. There are better options to finance your aspirations which allow you to optimise your resources and save your hard-earned money.
Financing Your Car with a Bank Loan
Let’s say you have zeroed in on a BMW X1 as the vehicle of choice. The petrol version of the SUV is available at an on-road price of around Rs 45 lakh in India. Assuming you have accumulated a fund of Rs 25 lakh, you still need a loan of Rs 20 lakh to finance the purchase.
With interest rates ranging from 7-14%, car loans are easily available from banks. Assuming you take a loan of Rs 20 lakh at 7% interest, you will have to pay back Rs 23.76 lakh over a five-year period, including Rs 3.76 lakh as interest. Plus, you may have to pay a one-time processing fee of around Rs 5,000 on the loan. That’s a lot of money to pay for an asset which will depreciate the minute you drive out of the showroom!
Basics of Fractional Ownership
With fractional ownership, you won’t have to take a loan for your car. Instead, you can easily pay for it with the returns from your investment.
Fractional ownership in pre-leased commercial property is a relatively new mode of investment offering attractive interest rates and stable returns. Commercial real estate investing in India has traditionally been dominated by big companies and institutions who can afford to pay the crores of rupees necessary to invest in high-value commercial realty. The fractional ownership model aims to alter this trend by dividing the price of the property into smaller units (‘fractions’) to make them affordable to retail investors.
In recent years, fractional ownership has acquired a reputation as a low-risk, high-return investment with assured rental income and capital appreciation. With an average rental yield of 8-12%, and a capital appreciation rate of anything between 5% and 10% per annum, it is quickly emerging as one of the most attractive asset classes for investors.
Buying a Luxury Car through Fractional Assets
Let’s say that you want to buy a BMW X1 through the fractional ownership route. You can invest the same amount of money (Rs 25 lakh) on a piece of commercial property for five years. As the asset is pre-leased, you will start earning rental income of Rs 2.25 lakh per annum (at 9% rental yield) from the first year itself. What’s more, the rent will increase by 15% every three years as per the contract with the tenant.
In the meanwhile, the value of your investment will also increase at a rate of 5-10% annually. Assuming that capital appreciation takes place at a modest rate of 7% per annum, the value of your investment will grow to Rs 35.06 lakh, which means an increase of Rs 10.06 lakh in a five-year period. The income from rent (Rs 2.25 lakh per year x 5 years) will put an additional Rs 11.25 lakh in your kitty. Therefore, you will have a total of Rs 46.31 lakh at your disposal which can easily pay for the car with change to spare.
As you can see, the fractional ownership route not only managed to save you Rs 20 lakh on the principal amount but also Rs 3.76 lakh in interest and one-time processing fees. The only inconvenience? Delaying your purchase by five years to allow the magic of fractional ownership to work for you.
Stability and Liquidity
Leading fractional ownership platforms only deal in pre-leased commercial properties which allow investors to earn rentals from the first month itself. With tenants locked in for a pre-agreed period (e.g., five/seven years), you can expect capital appreciation as well as assured rental income on your investment. Besides attractive and stable returns, fractional properties are liquid real estate assets where you can cash out anytime you want. Be sure to include it among your financing options the next time you plan to buy a luxury four-wheeler!
(By Aankush Ahuja, Director of Business Development and Investments, hBits.)
Disclaimer: These are the personal views of the author. Please consult your financial advisor while making any investment.
BMW X1 Tech Edition Launched at Rs 43 lakh
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BMW has expanded the X1 lineup in India with the launch of the new X1 Tech Edition. The BMW X1 Tech Edition has been priced at Rs 43 lakh (ex-showroom) and is available in limited units only at the BMW online shop. The X1 Tech Edition gets some additional equipment over the rest of the X1 range.
BMW X1 Tech Edition gets a larger 10.25-inch screen, HUD and wireless charging.
Is powered by a 192hp 2.0-litre petrol engine in sDrive20i configuration
Only limited units available and only through BMW online shop
BMW X1 Tech Edition: What’s new?
As the name already suggests, the most important update on the X1 Tech Edition is to its equipment list. Notably, the X1 Tech Edition comes with a larger 10.25-inch central infotainment screen. Other variants of the X1 get an 8.8-inch infotainment screen as standard, which is a tad bit small by modern standards in a luxury compact SUV.
The high-resolution 10.25-inch screen features touch functionality, but also retains the rotary iDrive controller on the centre console. BMW has also added a new head-up display, wireless charging function and a new 205W Hi-Fi Sound System to the X1 as part of the Tech Edition update.
On the outside, the X1 Tech Edition does not boast of any cosmetic upgrades over other versions of the X1. However, it does get a new design for the 18-inch alloy wheels. The X1 Tech Edition is available with two colour options - Alpine White andPhytonic Blue – while the interior comes finished in Oyster Black upholstery.
BMW X1 Tech Edition: what’s been carried over?
As already mentioned, the X1 Tech Edition mostly remains cosmetically unchanged from the facelifted model that was launched in India earlier last year. The face is characterized by a large single piece kidney grille and sleek, sweptback LED headlamps. The front and rear bumpers are well contoured for a sense of sportiness and the side profile is characterized by smooth flowing lines.
On the inside, apart from the addition of aforementioned features, the design goes back to older BMW cars and that’s where the X1 is now starting to show its age. The stack on buttons on the dashboard, analogue instrument cluster and even the steering wheel looks quite dated and the materials don’t feel quite as rich as in BMW’s newer cars.
Some of the standard features that have been carried over from the rest of the range include a large panoramic sunroof, ambient lighting with six colours, electric adjustable front seats with memory function, reclined rear seats with centre armrest, wireless Apple CarPlay, and much more. Safety features include six airbags, Attentiveness Assistance, Dynamic Stability Control (DSC, Dynamic Traction Control (DTC), Cornering Brake Control (CBC), electric parking brake with auto hold, etc.
BMW X1 Tech Edition: what’s under the hood?
Under the hood, the X1 Tech Edition is solely offered with the 2.0-litre four-cylinder turbocharged petrol engine that produces 192 hp and maximum torque of 280 Nm. The engine comes mated a 7-speed Steptronic Sport automatic transmission. It also features steering wheel mounted paddle shifters and launch control. Drive is sent to the front wheels only. The Tech Edition is not available with the 2.0-litre diesel engine option on the X1.
BMW X1 Tech Edition: Price and Rivals
Priced at Rs 43 lakh (ex-showroom), the X1 Tech Edition now sits at the top of the X1 lineup in India. It rivals the likes of all-new Mercedes-Benz GLA, Mini Countryman and Volvo XC40. Here’s a summary of the BMW X1 price range in India.
2021 BMW X1 Price sDrive20i SportX Rs 38.50 lakh sDrive20i xLine Rs 40.90 lakh sDrive20d xLine Rs 42.60 lakh sDrive 20i Tech Edition Rs 43.00 lakh
Also See:
2020 BMW X1 facelift review test, drive
Why the India-spec BMW X1 facelift has given AWD a miss