*FAZULBHOYS is an old name as far as used cars are concerned. Years ago it was a trusted name in Used Car market since it was run by the Parsi community. Fazulbhoys had a showroom at Prabhadevi ahead of Siddhi Vinayak temple.
Since I was looking for a used car for my family, I was searching the newspapers for automobile classifieds where I saw an advertisement from Fazulbhoy Motors. Friends, I donot wish to malign Fazulbhoy dealership at this stage so I wish to narrate the experience that I had while dealing with them. On reading my review you can draw your own conclusions about the dealership.
On DNA newspaper I saw an adverstisement from Fazulbhoys where in they were offering a 2002 Santro LS for Rs 1.49 Lacs. I found the price attractive considering that it is a dealers car. I called them up on their number 022-24318888. The gentleman on the other side sounded polite but quickly handed over the phone to a person named Rodrigues.
He gave me the details of the car as follows. Santro LS, Metallic grey, 42000 kms, Single owner, Comprehensive Insurance, Thane Registration @ Rs 1.49 Lacs. Hearing the details I was excited since it was within my budget and I asked him how we should go about the formalities. Mr Rodrigues said that all further details will be explained only at the Dealers Office.
The real story started to unfold when I reached his office. I was greeted warmly but when I asked for the Santro, I was told that it is a customers car so it will be shown only on apointment as they no longer keep cars on display outside their showroom.
Then Mr Rodrigues gave me the following method of purchase of the car from his showroom.
Mr Rodrigues said that I will compulsorily have to buy the car on Loan. I said that I will pay him by DD. But Rodrigues told me that the price of Rs 1.49 lacs was valid only on purchase through loan which they will arrange for 3 years.
If I wanted to buy the car on outright basis,
then I will have to pay Rs 1.79 Lacs (30K extra)
plus transfer charges of RTO (approx Rs 1500)
plus Octroi of 4% on current car valuation (approx Rs 6000)
plus Fazulbhoys commission @ 2.5% of car cost i.e Rs 3725
plus other processing charges of Rs.1000.
The total of all this works out to a whopping Rs 1.91 Lacs for a 2002 model Used Santro which was advertised for Rs 1.49 Lacs.
I was shocked hearing all this so I asked him how the Loan scheme works. Rodrigues said they give 100% loan on the vehicle price of Rs 1.49 Lacs. The EMI for 3 years works out to be a flat Rs.4090 per lac. Hearing this I lost my mathematical calculation ability. Imagine the EMI for 1.49 Lacs. It works out to be Rs 6135 per month for 3 years. The total car cost comes to Rs 2, 20, 860 plus other charges. If I agree to buy the car on loan then I get a discount as I dont have to pay their commission of Rs 3725.
In short a car that is advertised at a price of Rs 1.49 lacs turns out to be costing Rs 1.91 Lacs for outright purchase and Rs 2.20 Lacs on 100% Loan.
Friends, now you guys decide how you will rate FAZULBHOYS. If you have any doubts on this story, check their advertisement every thursday on DNA and call them up on 24318888.*
(I have tried to narrate the story in short considering the limitation of 7500 words)