September 26, 2020

5 Things to do before buying a Car this Festive Season

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People have already started making plans to buy something new during the auspicious festive season. Most of us would go and buy expensive commodities like a car, thanks to attractive offers given by dealers and companies.

But the dealers and companies will not be fully transparent with regards to offers and discounts. There are many hidden offers which can be used to your benefit through negotiations and the right knowledge.

Look at the below list of things to consider before buying a car this festive season:

Take advantage of cash discount

Cash discounts are one of the most common discounts provided by car dealers and companies during festive seasons. If you negotiate with the car dealer, then chances are that they may extend some additional discounts.

Car dealers usually give such discounts to maximize sales. So, the scope of negotiationis high and often can lead to a great deal.

Insurance

Insurance is one segment where you can get the maximum benefits while buying a car during festive seasons like Diwali. If the dealer is providing free insurance on the car for one year, then it attributes to a great opportunity for you.

Compare the insurance rates of different cars provided by the car dealer and choose the preferable one, which usually would have the lowest premium rate.

Car with free accessories

Car dealers usually lure customers to buy their vehicles by offering free accessories like reverse parking sensors, foot mats, enhanced sound systems etc. Most of these accessories are either given free or at discounted rates compared to the market price. There is also a window of negotiation for further discounts on the accessories if the car dealer is not willing to give cash discounts.

Exchange offers

In India, people tend to buy a second-hand car before going for an expensive new car. For this reason, car dealers have started offering new cars at a reduced rate in exchange for old cars. It is better to exchange the old car with a new car of the same brand for availing maximum benefits.

Extended warranty and benefits

Most new cars come with an average warranty of one year which will help you to save money in case of any mechanical or electrical fault in the car. But to increase sales during festive seasons, dealers offer extended road side assistance facilities which can be availed leading to additional savings.

Lowercar loan interest rate

Most car dealers have tie-ups with banks to offer a car loan to customers at low interest rates and lower down payments compared to the market rates. Even a small reduction in the interest rate of your car loan can lead to a lot of savings when calculated for the entire loan period.

So buy a car from a car dealer that offers a car loan at lower interest rates. Follow the above steps and save a lot of money while buying a new car this Diwali.

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