Use this tool to decide whether you should buy diesel or petrol car
The price difference between petrol and diesel has been widening and now stands at a hefty Rs 21 per liter. And generally speaking, one liter of diesel takes you farther than one liter of petrol. In short, the case for diesel cars, and their sales, has grown stronger.
But diesel cars cost more. So how do you figure out whether the extra money you are spending on buying the diesel car is worth it?
Enter CarToq Diesel Decider. What Diesel Decider does is tell you whether the savings on fuel costs are enough to offset higher cost/EMI of the diesel car. We calculate the savings based on the monthly usage (in Km) that you input into the tool.
So how do you use the Diesel Decider tool?
- Go to Diesel Decider and choose a diesel and a petrol model that you want to compare.
- Then enter your monthly usage. And click the red button—Diesel or Petrol.
- The tool will compute your EMI assuming 85% of car price is taken as loan amount, 12.3% rate of interest, and loan period of 5 years.
- It will, based on your usage, also compute fuel savings every month.
If the monthly EMI on diesel is higher than the monthly savings on the diesel fuel costs, this tool will recommend that you buy the diesel option.
If, however, your monthly usage of the car is not high, and the diesel car costs a lot more, the tool will tell you that you should buy the petrol car instead.
These results are based on the default assumptions we have made (12.3% interest rate, mileage of the car as claimed by the car seller, your loan amount equal to 85% of the car price).
But my loan period, fuel prices, mileage and km per month are different!
You may be taking a smaller loan or no loan at all. Your interest rate or the loan repayment period may not be 5 years. You think the car’s mileage is different from our value. The car purchase price for you might be different. You can change all these values, and then let the tool compute whether a diesel or petrol is a better option.
Click on the Advanced Diesel Decider link at the bottom of the results. You can then change all these values.
For instance, you might be paying the entire amount upfront. In this case, set the loan amount as Rs 0. And so on.
We found many surprising results. Most of us believe that diesel is the better option. But this tool will prove to you that if you don’t drive too much and the cost of the diesel model is significantly higher than the petrol version, then you should buy the petrol version.
You will have your own specific usage and financial numbers to try out. So put the Diesel Decider to use and make intelligent buying decisions! And tell other buyers about it also.
Let us know if you found the tool useful, and if you have any suggestions for us.
Visit CarToq Diesel Decider now!