New Car Buying Tips
New Car Buying Tips
Buying a new car is always exciting. If it's your very first car, you are all the more geared up. You want to get the car you love and at the best price so you smile all the way through your drive home. With festival season around, rising fuel prices and interest rates, the car dealers in India are bound to announce heavy discounts to clear their inventory. Have you decided upon the model, and ready to visit the showroom? Hold on for a minute! Whether it’s your first car, or you’re a seasoned buyer, its always good to take some expert advice. Just consider this. Is the car you’ve decided to buy suitable for your needs? It may sound like a simple question - but it is so easy to be distracted by flash or impractical cars when you’re looking for a new car. Here’s a six-step plan that guides you through every aspect of the car-buying experience, showing you how to simplify the process, find key information, and take control of the negotiations with the dealer. 1. Identify Your Needs - Zero in on Right Model The first step (and you might have already done it!) is of course finalizing the exact car model you want to buy. I’m emphasizing upon it because you need to prioritize what you really need in a car. Is it space or speed? Looks or practicality? There’s no point buying a roadster if you want to carry your family of 4. Likewise, why buy a big clumsy off-roader if you’re a city dweller? Why consider mileage a top-priority while you don’t travel even 10 kms a day? A petrol car or diesel car? Also don’t fall in love with a particular model! Since you’re spending lakhs of rupees (or more!) becoming infatuated with a single model which blinds you to alternative vehicles that may be better for your needs, is hardly a good idea. 2. Look Out for Discounts Next up should be finding out what incentives and rebates are available from the manufacturer on the car model you want to buy. As I have already pointed out, currently there are huge discounts on offer. It may be because automakers usually face a slump in sales during current season as customers prefer to buy vehicles in January and improve re-sale value at a later date. 3. Select Right Finance Deal Now comes the crucial car financing part. With so many financing options to choose from car finance can become complex because of the financing deal between the car dealer and the bank. First decide the amount of vehicle loan you need. Suppose the car costs Rs 8 lakh on the road and if you are ready to make a down payment of Rs 2 lakh, then freeze your loan requirements at Rs 6 lakh. Interest rates that you get also depend on the loan amount. Next ask around for preliminary quotes for the given loan amount for the given car and find out the lowest EMIs that are offered for this loan amount. 4. Negotiate Final Price After this you have to negotiate the exact price. For this carry out a survey of different dealers to see if you can get a better price. It is quite possible that some dealers may have a special offer on the model you desire. 5. Test Drive Now visit showroom to take a test drive. It’s important before finalizing the deal to get the feel of the car. Make sure that you are comfortable and satisfied with the car. Check that there is enough leg space, luggage space, steering is not too heavy et al. You should also inspect the car for dents, dings and scratches before taking final delivery 6. Finalize, Sign Paperwork Finalizing the deal and signing the paperwork: As buyer of the car you need to ensure that all the legal forms should be filled in completely and submitted to the right authorities. You have to register the car with the Regional Transport Office. Following documents are required to be submitted to the RTO:
Inspite of all that hard work, buying a car is still a thrilling experience. You'll love it! More Resources: 
By: Moderator1342 days ago
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