Now is the first time I’ve been behind an automatic and fully disc braked vehicle. Well, the only time before that was during the test drive and we can’t really count that as driving experience.
BHPian bhavikbochar recently shared this with other enthusiasts.
Hi all, happy to inform you, yesterday we welcomed a Phantom Black SX(O) Diesel AT into our family – we call it Verraux (for the uninitiated Verraux’s eagle is a large bird of prey, mainly African, also called the Black Eagle.
The features of this newest member of the family have been discussed in detail by other BHPians earlier, so I guess it’s appropriate for me to just focus on financing, delivery experience and fitted accessories.
Considered several options here:
- Self-funding – I didn’t really want to liquidate my long-term savings, plus market funding was cheaper than the returns I generate. So I didn’t do that.
- Car loan – Had offers from several banks with on the road financing with an interest rate between 7.5 and 7.75% and a term of 7 years. I would have opted for this had it not been for the next option.
- Complete a Home Loan – HSBC now offers an amazing Home Loan Top-Up Program. Basically, they give you the top-up loan for a term of 20 years and that too at the home loan rate, currently it is 6.45%. To my knowledge, no other bank offers mortgage recharging at the same rate as a mortgage.
I did some math here, and the financial analyst in me drove the decision towards this option.
So here is my simple structure: A 7 year car loan at 7.5% for 22 Lakhs would result in an EMI of approx. 33.5K and a 20 year home loan add-on at 6.45% for 22 Lakhs would mean an EMI of 16.3K. So the difference of EMI is around 17,000, and instead of spending it, it will go into a mutual fund as SIP. Mutual fund returns above 6.45% (should be easy to recoup in the long run) are my profit.
Gudi Padwa’s bluff:
With everything decided, I had the recharge applied and pre-approved, just waiting for the car to land in the dealerships stockyard for me to release the payment. I had already been informed by sales that the car would take 2-3 days to be delivered after full payment due to reasons such as fitting accessories, RTO registration etc. payment by 30th if I need auspicious day delivery from Gudipadwa on Saturday 2nd April. I didn’t fancy taking delivery on Gudi Padwa as it would be too rushed so we planned to take delivery the next day and my banker also assured me that payment would be released on March 30th. It turns out that the bank’s auditors were too busy to support disbursement cases for small amounts (less than 3 CR) due to the objective of closing the financial year. Thus, after patiently waiting, following up several times, my banker only managed to have the disbursement request approved by the auditors on the evening of Friday April 1st. By then the damage was already done, the weekend was upon us and so were the workshop guys. So I was told to be ready to provisionally take delivery on Wednesday April 6th.
SA asked to take delivery on the evening of Wednesday April 6 because the assembly of certain accessories was still pending. When we arrived at the showroom, we were greeted by the staff. SA informed me that the car was leaving the workshop. In the meantime, we filled out the paperwork, did the Hyundai Mobility registration, and were handed over the warranty cards for the accessories and finally the key handover ceremony!
Then we got into the car, SA activated my blue link and patiently explained all the features.
I had already done in-depth work and engaged in round trips with the accessories team. Any fitment work I was keen to do at the dealership even if I had to shell out the extra money for peace of mind that it won’t affect my warranty. Anyway, since my model was SX(O), I didn’t really need a lot of accessories, so I went with the following:
- Underbody Anti Rust from Wurth brand with 3 years warranty and service every year – Rs. 4,000.
- Wurth brand ceramic coating with 3 year warranty and service every year – Rs. 24,000.
- Door sill plates – Rs. 1200.
- Front Parking Sensors – Rs 7,500. Many would say I overpaid, but trust me the peace of mind of not losing warranty is well worth it. Also the fit and finish done by the dealership team is just amazing, I’ll let the pictures do the talking at the end.
- Door edge guard – Rs. 250. I had been informed by the accessories team that any bonding work should be done before the ceramic coating and they will follow the same standard here too.
- 3D carpet – Rs. 2500.
- Mud flaps – Rs. 800.
- Boot mat – Rs. 500.
- Projector fog lights (55W HID kit by Genome) – Rs. 22,000.
The projector fog lights are really a deciding factor. Like everyone else, I studied every bit of this car during the waiting period. One thing was clear, the SX(O)’s tri-beam LED headlights have poor range and need an upgrade. Sadly we can’t do anything with the headlights in SX(O) so the only options were either LED bars on the license plate (illegal, IMHO detracts from the look of the car) or fit some fog lights. I’ve gotten quotes from several aftermarket dealerships, scoured many YouTube videos, and spent the last few days worrying about voiding my car’s warranty because it wasn’t on the dealer-shared standard accessory checklist. I just thought of giving it a try and asked the accessories team at the Hyundai dealership if they could install fog lights. Props manager Pratamesh asked one day and offered a solution the next. It turns out that although they didn’t install fog lights at this dealership for Cretas, his friend at the Nagpur Creta dealership had installed them on a few Cretas. He shared the quote and a short video about the product, I did my own research, contacted the brand directly and they were willing to offer the same for Rs. 23,500 with 10% off i.e. Rs 21 150 + Rs 500 for assembly by their technician. The dealer initially quoted 26K and then downgraded it to 24K, when I told Pratamesh that the brand was offering me the same for 21K, he talked to his seniors and offered me an all inclusive rate of 22K. The throw of these projector fog lights is simply stunning and they come with a top and dipper option, which is integrated into the headlight stem and dipper!
An accident – fortunately avoided: So excited, after the puja in the showroom, we filled the tank and the whole family went out to dinner to celebrate. Now is the first time I’ve been behind an automatic and fully disc braked vehicle. Well, the only time before that was during the test drive and we can’t really count that as driving experience. Suddenly, during the whole trip, unconsciously my hand was moving towards the gear knob to change gears. On the way home from dinner all of a sudden my foot pressed the brakes a bit hard, well not so hard on my normal vehicle, but hard enough that the discs brought the vehicle to a sudden stop dry, and unconsciously my hand moved the gear knob from D to N as one would lower the gear in a manual transmission. Therefore, on releasing the brakes, the vehicle was not moving and this was all happening half way in Mumbai. Fortunately, it passed 11:30 p.m. and no one was coming from behind! An incident to remember on the first day of my drive from Verraux.
Thank you note:
Special thanks to Sales Manager – Shailesh and Accessories Team Leader – Pratamesh. Over the past few days, they have patiently listened to me and extended their time in the office late at night to accommodate my visits. Pratamesh even gave me the best deals and matched the outside/Mobis quotes the best. I’m not going to rack up a few hundred more given the convenience I had dealing with these guys. If you visit Modi Hyundai Santacruz West, Mumbai and meet them, let them know that their good work is appreciated and shared!
Pro tip: We received a set of wrapped Parker pens each for Shailesh and Pratamesh as a token of appreciation. Delivery day is special to us and they have worked hard to meet/exceed our expectations. No, of course if it’s normal practice to give gifts to dealership staff upon delivery, but the smile on their faces before leaving the showroom on this unexpected gesture was a moment to cherish for the life !
I end with some photos, unfortunately they are not so beautiful in my shady parking lot. I’m sure I’ll have a lot of questions as this is a fully tech loaded car, I’ll save them for future articles:
Front fog lights and parking sensors – notice the lens and lights are not on, it’s a reflection of my mobile flash. The front parking radars are well integrated and barely visible, circled in red:
Front parking sensor switch installed on the fuse box cover:
Other miscellaneous things like – skid plate, edge guard, 3D mats etc.
The trunk mat is rubber, everything is fine. The only thing now is that the well-raven package with the parking triangle doesn’t stick to it:
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