The
prices of essential items may be rising, but at least some things are
getting cheaper. Car manufacturers and dealers are showering huge
discounts to attract buyers. From cash rebates of up to Rs 60,000 to gold coins, the outpouring of gifts makes you believe that this festive season is truly fortuitous.
Manufacturers are hoping it will prove auspicious for them too, given the drop in sales in recent months. Car sales, which had slowed down after the budget, fell 18.1% in August, the first time in 10 months. In another first, there are discounts on diesel cars too.
Also check: Sensible driving can cut your fuel bill by 30%
The best part? The large inventory means there won't be any waiting period for your dream car. However, not every deal or discount offer is a golden opportunity. If you look carefully beneath the polished exterior and shiny hoods, you'll find that some of these are tarnished. In the following pages we tell you what to keep in mind when you go shopping for a car.
Also check: News on latest car launches and reviews
Which car should you buy?
If you stand in front of an auto showroom, you're back to feeling like a kid at the candy store. The various models, the gamut of options and trims, the wide colour spectrum—each car seems more tempting than the other. However, you need to choose carefully since you will, hopefully, keep the car for at least five years, if not more.
Here are five questions you should ask yourself before you buy your preferred car.
What's your budget? All of us have a price range in mind when we go car shopping, but what you also need to remember is that the car is going to cost a lot more than the ex-showroom price stated in the brochure. There are sundry charges that you will need to pay. These may not seem too high individually, but add them up and they amount to 10-20% of the cost of the car, depending on the model.
These include mandatory charges, such as registration fee and road tax, or vague and arbitrary charges like logistics and handling fee ( see box). Keep a margin since you may have to pay for a charge that you may not be aware of. For instance, if you register a car in Delhi, you have to pay an MCD parking charge of Rs 2,000 for cars worth less than Rs 4 lakh and Rs 4,000 for those priced higher.
Keeping track of these extra charges is imperative if you aim to fund your purchase through a car loan since you may need to borrow more than you planned for. Commit to an EMI you can afford. Your total debt repayment should not exceed 30% of your monthly take-home pay. This includes repayment of any other loans as well as credit card payments. So, if your take-home salary is Rs 50,000, your combined EMIs should not be more than Rs 15,000.
Can you afford the car you want? An SUV might look cool, but do you really need such a big car? The purchase price of the car is only the first cost you will incur. Over the next few years, you will spend a small fortune on fuel and maintenance, so you need to make sure that you buy the car you can afford in the long run. You may need to balance driving pleasure with your financial well-being. So, an automatic transmission vehicle may be more comfortable to drive, but it will also be more expensive and a heavy fuel guzzler compared with a manual transmission vehicle.
(Source:economictimes.indiatimes.com)Manufacturers are hoping it will prove auspicious for them too, given the drop in sales in recent months. Car sales, which had slowed down after the budget, fell 18.1% in August, the first time in 10 months. In another first, there are discounts on diesel cars too.
Also check: Sensible driving can cut your fuel bill by 30%
The best part? The large inventory means there won't be any waiting period for your dream car. However, not every deal or discount offer is a golden opportunity. If you look carefully beneath the polished exterior and shiny hoods, you'll find that some of these are tarnished. In the following pages we tell you what to keep in mind when you go shopping for a car.
Also check: News on latest car launches and reviews
Which car should you buy?
If you stand in front of an auto showroom, you're back to feeling like a kid at the candy store. The various models, the gamut of options and trims, the wide colour spectrum—each car seems more tempting than the other. However, you need to choose carefully since you will, hopefully, keep the car for at least five years, if not more.
Here are five questions you should ask yourself before you buy your preferred car.
What's your budget? All of us have a price range in mind when we go car shopping, but what you also need to remember is that the car is going to cost a lot more than the ex-showroom price stated in the brochure. There are sundry charges that you will need to pay. These may not seem too high individually, but add them up and they amount to 10-20% of the cost of the car, depending on the model.
These include mandatory charges, such as registration fee and road tax, or vague and arbitrary charges like logistics and handling fee ( see box). Keep a margin since you may have to pay for a charge that you may not be aware of. For instance, if you register a car in Delhi, you have to pay an MCD parking charge of Rs 2,000 for cars worth less than Rs 4 lakh and Rs 4,000 for those priced higher.
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Keeping track of these extra charges is imperative if you aim to fund your purchase through a car loan since you may need to borrow more than you planned for. Commit to an EMI you can afford. Your total debt repayment should not exceed 30% of your monthly take-home pay. This includes repayment of any other loans as well as credit card payments. So, if your take-home salary is Rs 50,000, your combined EMIs should not be more than Rs 15,000.
Can you afford the car you want? An SUV might look cool, but do you really need such a big car? The purchase price of the car is only the first cost you will incur. Over the next few years, you will spend a small fortune on fuel and maintenance, so you need to make sure that you buy the car you can afford in the long run. You may need to balance driving pleasure with your financial well-being. So, an automatic transmission vehicle may be more comfortable to drive, but it will also be more expensive and a heavy fuel guzzler compared with a manual transmission vehicle.
As a car buyers although you obviously can’t build a used car to order, maybe you want a model, option package, or even wheel design that’s no longer made. This wider selection can add to the length of the search, but perfection and satisfaction rarely come easily.
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