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Beginners Guide to Buy Your First Car in India

Buying a car is not less than a business deal, where you need to look for profit in terms of performance and longevity from the car. If you have invested an amount in something, then it becomes necessary to receive a good value in return. You must look into this as a financial planning, rather than just buying any car without knowing the outcome of it.

People often tend to buy a less worthy car by investing huge bucks, as it is a common belief that more the price better the product. But, it is of utmost importance to know more about other cars in detail before choosing the right one for yourself. You have to consider every possible option as per your requirement and budget to make sure you get the best one. In the smartphone generation, when you can easily get every information at your fingertip, then why go to any other place. There is numerous information available on the internet as car buyers guide, which makes your job easier.

Purchasing a new car is not an easy decision, as many think of it. It is not a decision you can take it over a day, you need to give some time for it to plan. If you are thinking of buying a new car, here is a list of ten major points to be considered before you settle with the chosen one.

driving car

Determine your budget

The utmost important aspect to look into before you plan to purchase a new car is, determine your budget. This gives you the exact idea to choose the range of cars from which you will finalizing the most suited one. It will be beneficial if you have a varied taste of cars to limit your choice to some of the best within your range.

However, if you have a love for a specific car above your budget and you are willing to take a bank loan, the determination of right budget be helpful in that case also. You can figure out your monthly expenses on your car, which not only includes car loan payments but all other costs like car insurance bill and fuel costs.

Also Read: Tips to Get Maximum Discount on a Car Purchase

Get the right finance

Before you visit the dealer, make sure you have got a secure and right financing for the car purchase. Getting the right finance from a reliable source is a must if you are opting for car loans. You need to shop around for a competitive and reliable financing.

Make sure not to accept loans from any dealers or unreliable sources just because they promise a quick and convenient process. It might look easy at first but the agreement may cost you more in future over others. So, make sure you have browsed through different rates provided by the different sources and chosen the best one. Even a percentage of difference can cost you a lot more in future.

Choose your preferences

After you have determined your budget and got your financing, the next important part is to determine your preferences. People have different taste or may be varying needs. For example, if you need one for daily commuting, then a high mileage should be on top of your priorities. If you need a family car for occasional outings, you should go for the one with more space and safety features. Having a smaller preference range also helps in this case.

Cost of ownership

One of the major parameters to be considered before you buy a new car is the cost of ownership. You can go through the research websites to get a brief knowledge on this and make sure the estimated overall ownership cost is within your budget. For better accuracy, you can do your own estimated calculation based on fuel usage for miles your car travels and obtain an auto insurance quote on your preferred car.

Safety First

Safety should be the first priority to be considered after you have selected a set of cars within your budget. Choose the best option with more number of safety goodies among the available options. The safety options in cars include airbags, Anti-lock Braking System with EBD, protective bumpers and grilles, reverse parking cameras, infotainment system, cruise control, traction control, etc. These can be browsed over the internet to know before you buy your car.

reverse parking

Mileage

In India, the most important aspect to look for is the mileage of the car before you consider buying it. The performance of the car is determined by how economical it is. Its worthiness is measured in terms of fuel-efficiency. It is a right way to judge your product before buying, as a fuel-efficient car lowers your monthly expenses.

Warranty

At the time of buying a car, the manufacturer provides you with a standard warranty. Over that, they often offer an additional warranty or insurance schemes, which most of the people ignore due to the extra cost involved. However, the additional warranty from the manufacturer is often a good deal, as with every passing year, the cost of maintenance increases. So paying a little more at the time of purchase might help you save a lot in these additional years.

Have a test drive

When you have done all the research and considered your best options, don’t shy away from taking their test drives. Check on parameters like comfort, control, handling and ease of traffic maneuvering.

Look for discounts

One must browse through the internet and find out the available discounts and offers on the selected car in order to make the deal even sweeter. If no discounts are available, use your negotiating capabilities to get some.

Insure your car

Insuring your car does not only protect you against any legal offense but also protects your asset against any kind of loss due to accidents in future. Buying the right kind of insurance from a reliable source is an important part of your car financial planning. Understand that you are not bound to buy insurance from the dealer itself, you can buy from any third party insurance provider offering you a better deal.

Are you ready to buy your next car?

One must plan accordingly before buying a new car, as this is one of the most expensive purchases after buying a home. This is a part of your financial planning, which must be taken seriously. We understand the common issues you might face while buying a new car, and hence, provided you with the required car buying tips. Hopefully, the knowledge shared above will be helpful to you.

About the author

Carl Petoskey

Carl Petoskey is an accomplished writer with years of experience covering the tech industry. When he’s not writing you can find him covering companies like Comcast Business Class.

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