Buying a new car is like an occasion in India and a benchmark achievement for many. Certainly when buying a new car you check on every minute detail. After all, you don’t buy a car every day.
Here are some tips for you if you are planning to buy a new car:
Do you really need a car
Before coming to which car to buy, think over again and again and analyze if you really need a car. Since roads these days are packed with cars it is affecting the environment and adding to wastage of both time and money. So, weight in the pros and cons before you add up to the jams on the roads.
New or Used
The lure of a new car is very powerful and even more so when buying the first car. So, most potential buyers brush aside the thought of buying a used car until reality hits them hard in the form of depreciation.
More and more buyers who live in the metros are buying cars for their daily commute to work and nothing else. The speech bubble with the cartoon character dreaming about a driving holiday to the nearby hill station is often just that – a dream – even in real life.
Negotiate the Price
Talking about financing after deciding to go in for a new car, the next big call to make for the average car buyer is whether to seek financing for a part of the car’s price and who to take the loan from.
First, even if you are going to take a loan, don’t mention it to the dealer immediately. Sales-people at the dealerships are trained to play around with discounts and often present price-cuts in the form of lower interest rates if they know you are taking a loan. So, talk to them like you are making a cash-down deal and negotiate the discounted price or the freebies that can be thrown-in before revealing your plan on taking a loan.
Car manufacturers or dealers may have an exclusive financing arrangement with specific banks or financial institutions, enabling them to offer competitive rates. But, they would mostly have been discounts on the cars themselves. Very often you will be able to take a loan from a different bank or financial institution at a slightly higher rate, but which will enable you to strike a harder bargain with the dealer.
When to Buy a Car
The timing is really important if you are seeking good deals and offers. Festival season is best time to buy a car because it will come along with complementary accessories and discounts. Moreover, buying a car towards the end of every financial year could get you some healthy discounts.
Underbody Rust Protection
Most modern day cars roll out of the assembly line with some sort of underbody rust protection coat already on them. In fact, many cars are offered with a perforation warranty that might vary from 5 to 7 years. So, a similar coat might not be required to be reapplied by the dealer for your new car.
Hope you got your list of dos and don’t here. So, what are you waiting for? All you have to do is decide on the model and zoom it out.