Auto manufacturers and dealers are promising fabulous discounts and freebies for those planning to make a purchase of new or used cars in India. Go through the following pointers before you avail of them.
1. New year, old model
Car companies usually offer big discounts in December to clear their inventories before they hike prices and launch new models in January. If you buy now, your vehicle will bear the registration date of December 2013, and in a few days, it will be last year's model.
This should not matter if you are planning to use the car for at least 7-8 years. However, if you plan to change the car in 3-4 years, the registration date will matter. A 2013 model will fetch a lower resale price four years down the line.
Hence, it will be prudent to wait till January to buy it. Remember that a new car should be used for at least 8 years to get a full return on investment. Sell it earlier and you could lose out on its value.
2. Buy within your means
The bigger the car, the fatter the discounts being offered. However, don't let the freebies entice you into making a purchase you can't afford. The golden rule is that the price of a car should not be more than 60% of your annual takehome income.
3. Consider the offers closely
While you should not look a gift horse in the mouth, when it comes to freebies from car dealers, a closer look is necessary.
4. Transfer the no-claim bonus
All car owners know that if you don't make a claim in a year, the next year's premium fetches a discount. However, few know that a noclaim bonus can be transferred to another vehicle, bringing down the insurance cost of a new car.
5. Petrol, diesel or CNG?
Petrol is the costliest car fuel, but petrol cars are the cheapest. Diesel is inexpensive, but the diesel variants of cars are costlier by Rs 75,000-1 lakh. They also require higher maintenance.
Read more at:
http://economictimes.indiatimes.com/articleshow/27725870.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
1. New year, old model
Car companies usually offer big discounts in December to clear their inventories before they hike prices and launch new models in January. If you buy now, your vehicle will bear the registration date of December 2013, and in a few days, it will be last year's model.
This should not matter if you are planning to use the car for at least 7-8 years. However, if you plan to change the car in 3-4 years, the registration date will matter. A 2013 model will fetch a lower resale price four years down the line.
Hence, it will be prudent to wait till January to buy it. Remember that a new car should be used for at least 8 years to get a full return on investment. Sell it earlier and you could lose out on its value.
2. Buy within your means
The bigger the car, the fatter the discounts being offered. However, don't let the freebies entice you into making a purchase you can't afford. The golden rule is that the price of a car should not be more than 60% of your annual takehome income.
3. Consider the offers closely
While you should not look a gift horse in the mouth, when it comes to freebies from car dealers, a closer look is necessary.
4. Transfer the no-claim bonus
All car owners know that if you don't make a claim in a year, the next year's premium fetches a discount. However, few know that a noclaim bonus can be transferred to another vehicle, bringing down the insurance cost of a new car.
5. Petrol, diesel or CNG?
Petrol is the costliest car fuel, but petrol cars are the cheapest. Diesel is inexpensive, but the diesel variants of cars are costlier by Rs 75,000-1 lakh. They also require higher maintenance.
Read more at:
http://economictimes.indiatimes.com/articleshow/27725870.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
No comments:
Post a Comment