Maruti Suzuki launched this week new version Alto-K10 with 998 cc K-series engine. new Alto K10 is with improved suspension, new cable-type transmission, improved brake system and more leg space for rear passengers.

new Alto K10 Highlights

This new Alto is complete package of performance able to accelerate 0-100 kmph in just 13.3 seconds, fuel efficiency of 20.2 kmpl which is highest among A2 segment cars and all that on attractive cost which will keep it most popular. New cable type transmission will give easy gear shifting and enhanced driving pleasure.

Changes in Dimensions

- Alto K10 is 125mm longer to accommodate K-series engine which is little big.

Changes in Exterior

- Alto K10 got new differently styled aggressive front with crystal clear bold eagle-eye headlamp lens.
- Stylish back gate
- Tinted glasses
- 13 inch Large tubeless tyres
- Body colored bumpers
- Trendy wheel covers
- New front grill

Changes in interiors

- Plush two-tone interiors
- All new 3-spoke steering wheel
- Vanity mirror
- Color coordinated door trim fabric
- Stylish gear knob
- Rear parcel tray
- Integrated headrests at front and rear
- Ash tray and Cup holder
- All new speedometer, tachometer and electronic trip meter
- Front power windows

A wiper connected to the gauge slides along this strip of material, conducting the current from the gauge to the resistor. If the wiper is close to the grounded side of the strip, there is less resistive material in the path of the current, so the resistance is small. If the wiper is at the other end of the strip, there is more resistive material in the current’s path, so the resistance is large.

When the float is near the top of the tank, the wiper on the variable resistor rests close to the grounded (negative) side, which means that the resistance is small and a relatively large amount of current passes through the sending unit back to the fuel gauge. As the level in the tank drops, the float sinks, the wiper moves, the resistance increases and the amount of current sent back to the gauge decreases.

This mechanism is one reason for the inaccuracy of fuel gauges. You may have noticed how your gauge tends to stay on full for quite a while after filling up. When your tank is full, the float is at its maximum raised position – its upward movement is limited either by the rod it’s connected to or by the top of the tank. This means that the float is submerged, and it won’t start to sink until the fuel level drops to almost the bottom of the float. The needle on the gauge won’t start to move until the float starts to sink.

Something similar can happen when the float nears the bottom of the tank. Often, the range of motion does not extend to the very bottom, so the float can reach the bottom of its travel while there is still fuel in the tank. This is why, on most cars, the needle goes below empty and eventually stops moving while there is still gas left in the tank.

Another possible cause of inaccuracy is the shape of the fuel tanks. Fuel tanks on cars today are made from plastic, molded to fit into very tight spaces on the cars. Often, the tank may be shaped to fit around pieces of the car body or frame. This means that when the float reaches the halfway point on the tank, there may be more or less than half of the fuel left in the tank, depending on its shape.

Differentials

A car has two differentials, one located between the two front wheels and one between the two rear wheels. They send the torque from the driveshaft or transmission to the drive wheels. They also allow the left and right wheels to spin at different speeds when you go around a turn.

When you go around a turn, the inside wheels follow a different path than the outside wheels, and the front wheels follow a different path than the rear wheels, so each of the wheels is spinning at a different speed.

The differentials enable the speed difference between the inside and outside wheels. (In all-wheel drive, the speed difference between the front and rear wheels is handled by the transfer case – we’ll discuss this next).

There are several different kinds of differentials used in cars and trucks. The types of differentials used can have a significant effect on how well the vehicle utilizes available traction.

A typical part time four-wheel drive transfer case

The Transfer Case

This is the device that splits the power between the front and rear axles on a four-wheel-drive car.

Going back to our corner-turning example : While the differentials handle the speed difference between the inside and outside wheels, the transfer case in an all-wheel-drive system contains a device that allows for a speed difference between the front and rear wheels. This could be a viscous coupling, center differential or other type of gear set. These devices allow an all-wheel-drive system to function properly on any surface.

The transfer case on a part-time four-wheel-drive system locks the front-axle driveshaft to the rear-axle driveshaft, so the wheels are forced to spin at the same speed. This requires that the tires slip when the car goes around a turn.

Part-time systems like this should only be used in low-traction situations in which it is relatively easy for the tires to slip. On dry concrete, it is not easy for the tires to slip, so the four-wheel drive should be disengaged in order to avoid jerky turns and extra wear on the tires and drive train.

Some transfer cases, more commonly those in part-time systems, also contain an additional set of gears that give the vehicle a low range. This extra gear ratio gives the vehicle extra torque and a super-slow output speed. In first gear in low range, the vehicle might have a top speed of about 8 km/hr, but incredible torque is produced at the wheels. This allows drivers to slowly and smoothly creep up very steep hills.

Locking Hubs

Each wheel in a car is bolted to a hub. Part-time four-wheel-drive trucks usually have locking hubs on the front wheels. When four-wheel drive is not engaged, the locking hubs are used to disconnect the front wheels from the front differential, half-shafts (the shafts that connect the differential to the hub) and driveshaft. This allows the differential, half-shafts and driveshaft to stop spinning when the car is in two-wheel drive, saving wear and tear on those parts and improving fuel-economy.

Manual locking hubs used to be quite common. To engage four-wheel drive, the driver actually had to get out of the truck and turn a knob on the front wheels until the hubs locked. Newer systems have automatic locking hubs that engage when the driver switches into four-wheel drive. This type of system can usually be engaged while the vehicle is moving.

Whether manual or automatic, these systems generally use a sliding collar that locks the front half-shafts to the hub.

Advanced Electronics

On many modern four-wheel and all-wheel-drive vehicles, advanced electronics play a key role. Some cars use the ABS system to selectively apply the brakes to wheels that start to skid – this is called brake-traction control.

Others have sophisticated, electronically-controlled clutches that can better control the torque transfer between wheels. But first, let’s see how the most basic part-time four-wheel-drive system works.

This is key because, often, a small motor spinning very fast can provide enough power for a device, but not enough torque. Another thing gears do is adjust the direction of rotation. For instance, in the differential between the rear wheels of your car, the power is transmitted by a shaft that runs down the center of the car, and the differential has to turn that power 90 degrees to apply it to the wheels.

There are a lot of intricacies in the different types of gears. Here, we’ll learn exactly how the teeth on gears work, and the different types of gears you find in mechanical gadgets.

Amortization : This term is used in two senses -

1. The repayment of Principal and Interest components of a Loan, over a period of time
2. Writing-off of an expenditure (like issue cost of shares, pre-incorporation expenses) over a period of time.

Appreciation: The value that an asset gains over a period of time.

Assets: The items you own. You don’t have to own something “free and clear” for it to be considered an asset. Say you have a house, on which you owe money to a bank or mortgage company. The amount you owe is considered a liability; the amount you’ve already paid off is an asset.

Back-Loaded Lease: A lease where the rentals are higher towards the end of the lease tenure. This is also called ‘rear-end loaded lease’.

Balloon Lease: In this type of lease agreement the rentals are low at the inception, higher during the middle period and again low during the end. The residual value in such lease contracts is usually very low.

Collateral: Assets that can be used to back up a loan which you obtain with a finance company. If you fail to pay on the loan as agreed, the finance company can take these assets. Most finance companies do not loan full cost on a vehicle because it is already depreciated in value below the loan amount, and if you fail to pay, and they take the vehicle in collateral, they end up losing money.

Depreciation: The value that an asset loses over a period of time.

EMI: Equated Monthly Installments (EMI) are installments towards repayment of a loan, lease or hire purchase agreement. As banks and finance companies conduct very high volumes of retail business it becomes easier for them to monitor and manage installments that are constant in amount. The EMI’s are collected in advance in the form of post dated cheques.

Escalation Clause: A clause in lease agreements which provides that the rentals shall increase on certain eventualities. e.g., on increase in interest rate or on non-availability of certain tax benefits.

Flat Rate of Interest: A method of calculating the interest rate based on the total outflow of money. The method does not take into consideration the time value of money and is thus a crude measure. Flat rate of interest is the % paid in excess of the finance amount, and is calculated on per year basis.
Example of its Working -
Amount Financed = A
Total Outflow by the customer = B
Finance Tenure in years = C
Flat Rate (% per annum) = ((B-A) / (A)*(C)) x 100

Front-Loaded Lease: A lease agreement where the rental payments are higher in the initial period, gradually going down towards the end of the tenure. Opposite of back-loaded lease (or rear-ended lease).

Hire Purchase Price: The total sum payable by the hirer under a hire-purchase agreement in order to complete the purchase of the goods to which the agreement relates. A total of Amount financed & finance charge.

Hirer: The person who takes the goods on hire. If you purchase a car under hire-purchase agreement with a finance company, then you become the hirer.

Hypothecation: A hypothecation is an equitable charge on the goods without possession, but not amounting to a mortgage. The contract is done to secure a debt. Banks that give you a loan to purchase a car, hypothecate the car in their name as security.

Inception of a Lease: The date of signing of the lease agreement where the property to be leased has been constructed or has been acquired by the lessor. Where, on such date, the property to be leased has not been constructed or acquired by the lessor. The date on which such construction is completed or the property is acquired by the lessor, shall be the date of inception.

IRR (Internal Rate of Return): The internal rate of return of a project is the discount rate, which makes its net present value equal to zero. The IRR method is a popular discounted cash flow method that takes into account the time value of money and also considers the cash flow stream in its entirety.

Interest: The amount the finance company charges for the use of the capital or principal in a loan.

Late Payment Charges: When the monthly installment towards repayment of a loan is delayed, the financier collects the installment along with the late payment charges. The late payment charges are also known as the delayed payment charges or the overdue payment charges. The late payment charges are fixed at the time of signing the finance contract.

Lease Rental: In a purchase transaction, the commodity (as a tangible form) is purchased for money while in a hiring transaction the services of the commodity (intangible) are purchased. Economic parlance therefore refers to the payment on hire interchangeably as ‘rent’, ‘rental’ or ‘lease payment’.

Lease Rate: The equivalent simple annual interest rates implicit in the minimum lease rentals. This is not the same as the interest rate implicit in a lease, which reflects the compounding effect. These are generally defined as Rs. per 1000.

Lease Term: The tenure or the period of the lease agreement is known as lease term.

Lessee: The user of the leased asset is called the lessee. The lessor (finance company) is the owner of the asset. Under the Motor Vehicles Act of 1930, the lessor was considered as the owner of the vehicle and was subject to the liabilities of owner under the act. Thus the lessor was liable for any criminal action or other offence, even though the lease agreement shifted this burden to the lessee. This position has been reversed under the Motor Vehicles Act, 1988. Although the legal ownership vests in the lessor, the lessee is regarded as the owner for all purposes under the Act.

Lessor: Under the lease agreement, the finance company that is the legal owner of the asset is known as the lessor. The Motor Vehicles Act, 1988 – Section 51 contains special provisions regarding motor vehicle subject to hire-purchase agreement, etc. In case of vehicles financed under hire-purchase, lease or loan agreement, the name of the lessor is mentioned as a financier.

Lien: A lender’s claim on assets offered as security for a loan. It is a right which a person, to whom a sum of money is owed by another, is given in law over the goods of that other’, to secure payment of the sum owed. Lien may be possessory, i.e., exercisable only as long as the goods are in the possession of the claimant, and equitable, i.e., enforceable irrespective of the possession by the creditor.

Liabilities: Your debts. The amounts you owe on your mortgage, car payments, and even taxes are all liabilities.

Loan Term: The length of time a loan is given for. It is usually measured in months.

Margin Amount: Most financiers finance upto 90% of the car’s value. The balance has to be paid as down payment, which is also called the margin amount . The resale value of cars differ and financiers fix up the extent of finance and the margin amount based on their perception of security of the asset. Thus for smaller cars like the Maruti 800, Maruti Zen etc. the financiers demand only 10% as margin amount. But for premium cars, that have lower resale values, the financiers hedge against future risk by collecting a bigger margin amount of
20 – 30% of the car’s price tag.

Minimum Payment Clause: A clause in hire-purchase agreement imposing a liability on the hirer to make a payment over and above the arrears of hire-rent, in the event of the agreement or the hiring being terminated before the property in the goods has been passed to the hirer. The payment may be expressed to be for depreciation of goods or by way of liquidated damages or compensation for loss of profit.

NPV (Net Present Value): The value of cash flows discounted using the time and risk value of money. It is the real value of a receipt or payment in future, deflated because of interest. It is a method of evaluating investment proposals.

Operating Lease: A short term cancelable lease agreement which is not fully amortized. It is a lease, other than a finance lease wherein the lessor seeks to recover his investment in a lease by leasing the equipment to more than one lessee. For financial accounting purposes, an operating lease is a lease, which does not meet the criteria for a capital lease or direct financing lease. Also, used generally to describe a short-term lease whereby a user can acquire use of an asset for a fraction of the useful life of the asset. The lessor may provide services in connection with the lease such as maintenance, insurance and payment of taxes.

PDC (Post Dated Cheque): Most financiers collect post dated cheques towards the payment of the lease rentals or the installments (EMI’s) for a lease / hire-purchase / loan contract. The post dated cheques not only provide convenience, but also protect the financiers by making the issuer of the cheques liable to honor them as per the Negotiable Instruments’ Act.

Promissory Note: As a matter of precaution, the lessee / hirer / borrower is required to execute an unconditional promissory note in favor of the financier, for full amount of the installments / rentals payable under the agreement. The promissory note is counter guaranteed by the guarantor wherever applicable.

Residual Value: The market value of equipment prevailing at the end of the lease term.

Security Deposit: Security Deposit is typical to hire-purchase agreements offered by Non Banking Finance Companies. The party seeking finance (hirer) is offered finance upto 100% of the car cost. The security deposit can vary from 15% to 35% as per the scheme selected. The security deposit earns an interest either simple or compound, for the period of the agreement (tenure) depending upon the company. At the end of the tenure the security deposit is refunded along with the interest earned through the tenure. Unlike Fixed Deposits which can be terminated and refund sought before maturity, the security deposit is linked to the car hire-purchase agreement and is refunded only on termination of the hire-purchase agreement and not in between.

Termination Schedule: Leases sometimes contain provisions permitting a lessee to terminate the lease during the lease term in the event the leased equipment becomes redundant or obsolete to needs. The liability of the lessee in the event of such termination is set forth in a termination schedule, which values the equipment at various points during the lease term. If the equipment is sold at a price lower than set forth in the Schedule, the lessee pays the difference.

Zero Percent Finance: These schemes often work in either of two ways. Either the dealer discount is foregone and makes up for the interest you might have otherwise paid, or, the dealer and finance company absorb the interest but the loan tenure is short (6 to 9 months).

• Hire-Purchase Agreement
• Schedule of Charges, Deposits and Rates
• Irrevocable Power of Attorney
• Promissory Note
• FORM 20 for Registration of Vehicle
• Certificate of Inspection
• FORM 26 for Intimation of Loss or Destruction of Certificate of Registration and Application of a Duplicate Certificate
• FORM 27 for assignment of new registration mark on removal of the vehicle to another state
• FORM 28 for “No-Objection Certificate” and grant of certificate
• FORM 29 Form of Notice to Transfer of Ownership of Vehicle
• FORM 30 Report of Transfer of Ownership of a Vehicle
• FORM 34 Application for making an entry of an agreement of Hire-Purchase/Lease/Hypothecation subsequent to Registration
• FORM 35 Notice of Termination of an Agreement of Hire-Purchase/Lease/Hypothecation Dealer Authorization Letter
• Signature Verification
• Disbursement Memo
• Checklist

Give the Cheque of Margin Money, processing and insurance after signing the documents.

Take the delivery of the car directly from the car dealer.

Pay your loans regularly. Ask for the interest computation sheet or the loan statement at the end of the year. Verify the interest rate charged.

Get the bank to release the lien on your car after payment of all the installments.

There is no law or regulation that requires lenders to use a standard format to disclose all his or her interest charges and fees. That gives lenders the opportunity to play around with the way they sell you the loan. The loan could turn out to be very expensive if you added up the processing charges and the dates on which you have to pay back your installments. Get the lender to give you all the charges, obvious and hidden, in writing, with a statement that there are no other charges. Most lenders may hesitate to give you anything in writing, so don’t just believe the lender, talk to a few friends and relatives who may have taken a similar loan from the same lender and see what their experience has been.

Four-wheel Drive

Usually, when carmakers say that a car has four-wheel drive, they are referring to a part-time system. For reasons we’ll explore later, these systems are meant only for use in low-traction conditions, such as off-road or on snow or ice.

All-wheel Drive

These systems are sometimes called full-time four-wheel drive. All-wheel-drive systems are designed to function on all types of surfaces, both on and off-road, and most of them cannot be switched off.

How The 4 Wheel Drive Works?

Part-time and full-time four-wheel-drive systems can be evaluated using the same criteria. The best system will send exactly the right amount of torque to each wheel, which is the maximum torque that will not cause that tire to slip.

Here, we’ll explain the fundamentals of four-wheel drive, starting with some background on traction, and look at the components that make up a four-wheel-drive system. Then we’ll take a look at a couple of different systems.

First decide on the car you want to purchase keeping in mind the budget for getting a financed car, the price, type (petrol/diesel), expected maintenance costs, etc. You might be vacillating regarding which specific car to buy, but you will still have a broad idea as to the kind of the car you intend to possess.

Decide whether you want to lease or hire purchase the car. In a lease, the car belongs to the financier (lessor). The financier passes on depreciation benefits to you by charging you with a low rate of interest. You get tax benefits in the form that, the lease amount, cost of maintenance and insurance can be claimed as expense. In hire purchase, you can take the benefit of tax-shield on depreciation as you own the car. Further, the interest paid on the loan, road tax, insurance and repairs are deductible from the income for income-tax calculations. If you are an individual, lease or hire purchase gives no tax benefits.

Find a loan that suits you after deciding between leasing and hire purchase. A loan should fit your pocket and the term you wish to take it for. You will need to get quotes of all the finance companies and map them according to your requirements.

Compare the rates of different finance companies on parameters such as interest rates, pre-payment clause, upfront margin to be paid, etc. Things you need to check for -

• what the monthly loan payment is,
• what interest rate that translates into,
• the duration of the loan,
• the percentage of the car price you can take as a loan,
• Other incentives or discounts that the finance companies offer.

Use our user friendly calculators to unravel the difference between two lenders/loans.
Get your documentation in order. No matter who lends you the money, you need to have some basic documents ready -

• Proof of Income
• Proof of Residence
• Banking History
• Photographs
• Proof of Identity
• Signature Verification from the Bank

Ask questions and read the documents before signing them. Try to get a copy of the Agreement or Contract before you get into one. Understanding the important clauses within the agreement can help you avoid a lot of trouble in future. Most banks and finance companies market their car finance schemes through agents. Try and authenticate an agent’s claim from the officials of the bank or the finance company. You can get all ambiguities resolved by speaking to the staff of the bank or finance company, in whose favor you shall be drawing the post-dated cheques towards repayment of your car finance contract.

Most lenders, including foreign banks, are going to make you sign at least 20-30 pages of documents. And if you skip even one page, the loan will not be disbursed. In case you are uncomfortable with the terms, simply don’t take the loan from that lender.

Always read the loan application and offer documents and look for the hooks. Here are some typical pointers:

• Check if there is a pre-payment penalty. If there is one, find out which has the lowest rate.
• Look for the longest grace periods. Look for loans that give you the maximum number of days to pay back the due amount without an interest charge.
• Find out whether the interest remains constant through the contract period.
• Read the fine print carefully. Remember, if there is a problem later, what is written is what counts. What the marketing person tells you verbally carries no weight.
• Sign an Agreement/Contract in which the blanks have been filled up. Signing agreements with blanks does not work favorably for you.
]]> http://www.marutisuzuki.net/cars/some-useful-auto-finance-tips/feed 0 http://www.marutisuzuki.net/cars/car-rentals-advantage http://www.marutisuzuki.net/cars/car-rentals-advantage#comments Mon, 16 Mar 2009 12:56:49 +0000 admin http://www.tryiway.com/?p=12 Car rental is becoming very popular nowadays as it gives you a lot of benefits over other options as buses or cabs. You are able to move freely according to your own liking without worrying about place and time. However there are a couple of things that you should make sure while you hire a car on rent. First, you should try to discuss on the amount that you should pay for the vehicle. That also includes the mileage rate, and the traveling area. It’s always better to ask for schemes and discounts beforehand to avail special offers from the service providers. If you make your plans carefully, the idea of car rentals can prove to be a big advantage. While traveling, it not only gives you liberty from anxiety over your own car that sits safely in your garage, it can also save you some money that you can utilize elsewhere. While renting a car, you can save more money if you rent your vehicle at a location off site of the airport. A car rental at the airport generally makes you pay more than what a nearby agency does. There is little harm in taking a cab a few miles to bring the vehicle at a different rental location.

Try to keep away from bigger and fancier cars, as they will burn a hole in your pocket. If you are in no need of additional space, don’t waste your precious money on sport utility vehicles and minivans. Better to go for a no-frills car rental and rent a smaller car. You get better deals on compact vehicles as well as better mileage from them. Car rental agencies frequently offer prepaid fill-ups when you return the vehicle. Compare their costs with the gas pump prices and find out in advance which is a better deal. You will observe that in many cases a weekly car rental costs less than paying for five or six days alone. It is, therefore, wise to pay this rate and return the car early if you are staying just in a week. Try to rent a car on holidays and weekends because it is less costly. As most of the car rental business is geared toward business travelers, you can get better rates during non-work times.

It doesn’t make sense to insist on new vehicles as a used advantage car rental company often provides efficient, good quality used cars often for half the cost of renting a new car. Make it a point to fill the tank before returning the vehicle, as advantage car rental companies can charge up to several dollars a gallon to refuel. Before you embark on your trip from the pickup station, check the car carefully for body damage. Find out if the lights and turn signals are working properly and check the mileage odometer. If you find any defects, report to the car rental agency instantly. Choose a designated driver as a few car rental agencies charge more for an extra driver. Car leasing is not only an interesting financial proposition to most auto-consumers, but also a lifestyle and preference choice.

]]> http://www.marutisuzuki.net/cars/car-rentals-advantage/feed 0 http://www.marutisuzuki.net/cars/duplicate-vehicle-registration-certificate http://www.marutisuzuki.net/cars/duplicate-vehicle-registration-certificate#comments Wed, 04 Mar 2009 20:11:37 +0000 admin http://www.tryiway.com/?p=230 In case of loss or destruction of the RC Book (Certificate of Registration), the owner must inform the nearest police station and also inform the RTO with whom the car is registered.

A duplicate RC Book can be obtained from the RTO on submitting the Form No. 26 If the vehicle is under a finance contract an NOC for issue of duplicate RC Book from the financier is required (addressed to the RTO.)

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