The Indian market is one of the biggest automotive markets in the world. Moreover, there are several options across multiple segments in the Indian automotive industry. However, beyond choosing a car suited to your needs, there are several other questions that arise when planning to buy car in India.
These include what offers are available for the car, where to search for the best deals on the market, and how to negotiate with the salesperson to avail the cheapest deal. Also never forget to take a test drive which will help you find answers to all frequently asked question.
In this write-up, we will solve your queries related to the car buying process while guiding you to make an informed decision.
Calculate the real cost of ownership
The first step is to fix a budget and look for options within that price range when you plan to buy a new car. To make it easier, the best option is to make sure the price of the car doesn’t exceed 60% of your gross annual income. However, if you plan to take a loan, the purchase price is not the only amount you will be spending.
The actual cost of ownership will include the EMI amount that will go from your monthly budget, fuel costs, registration and road taxes, insurance premiums and maintenance costs. So, when selecting your next new car, make sure to keep in mind the miscellaneous cost associated with your purchase.
Research on dealerships
Before visiting in person, perform extensive research on dealerships. Figure out which dealership offers the best discounts on your chosen model. The chances of getting the best deal are higher if you opt to get quotes from multiple dealerships.
Be confident in negotiations
When you are planning to buy a popular car at the best price, negotiation is all about speaking confidently. Never hesitate to talk to the dealer to clearly convey your priorities and get the right deal. Your communication skills will play a vital role in getting a successful negotiation with the car dealer.
Do thorough research on the vehicle you have chosen and get knowledge of the exact ex-showroom value of the car to help you avoid getting tricked by the dealer. Also remove all the unwanted charges levied by the dealer over the ex-showroom price and road tax to save even more money.
Choose the variant wisely
When you proceed to bring a new car home, you will have several variants to choose from. Generally, most cars have a variant that’s the best value for money, which offers the right balance of features, powertrain, and added cosmetics (such as alloy wheels). If your budget permits, you can go for a higher-end model as there are certainly useful features which you can’t just upgrade to later.
Separate your feature list into needs and wants, with priority given to safety features and useful tech such as a parking camera. The best way to go is to opt for a mid-level model and opt for features you want on your own.
Explore used car options
The used car market has started to become more organized, becoming an option for first-time car buyers. Maruti’s True Value and Mahindra’s First Choice wheels are two popular and reliable platforms, with Renault also joining the market. The amount you would probably shell out for a new hatchback can get you a used sedan with better features and specifications as well.
The above tips help car buyers come up with better negotiation techniques when they buy a car from a car dealer. As explained, buying a car isn’t an easy task and several factors have to be considered in order for one to get the best offers and deals in the current Indian market.
Read Also: Is Year-End the Best Time to Buy a New Car?