Among the various essential investments, buying a car stands out as a crucial one. The ever-increasing crowd in public transport has made most individuals opt for a personal vehicle.
Thus, a car is a necessity in today’s busy world. However, you need to consider a few essential things while planning to buy one.
Keep reading to learn more about them!
Must Read: The Ultimate Guide To Buying A Car
Top 7 things to Consider while Buying a Car in India
You must consider a list of things while buying a new car. Here are the most essential points to consider:
- Conduct a Thorough Research as per Your Requirements
Once you have decided on the budget, focus on your purpose and requirements. Sort out the features you are looking for and thoroughly research the car models available.
For instance, if you are looking for a family car, Sedans can serve the purpose perfectly with all their style and grandeur, along with longer chassis and larger interior space.
However, you can opt for a hatchback for swift manoeuvres and personal use. Or, if you are looking for a family car with off-road features and touring purposes, SUVs are your pick.
- Get a Test Drive
After finalising your decision to purchase a car model, you should opt for a test drive. You may have researched the model well, but the practical result is always more worthwhile than theoretical information.
A test drive will help you understand the car’s features and mechanism. Besides, you can feel the vehicle’s responsiveness and efficiency before making a purchase.
- Check if You Should Opt for a Car Loan
Buying a car is no longer a luxury; it has become a convenience for those who don’t want to spend their hard-earned money altogether. Thus, you may need to buy one even if you need to finance it. Besides, financing also helps reduce your financial burden as you don’t need to bear the cost altogether.
However, the sanctioned amount may vary depending on the price of the car, influencing the payable EMI. It is advisable to check the EMI using a car loan EMI calculator and apply for a suitable loan scheme.
Must read: Tips For Running A VIN Check On A Car Before Buying It At Auction
- Choose Fuel Type
One of the crucial things to consider while selecting a car is the type of fuel needed to run the vehicle. You can choose between diesel, petrol, and electric cars based on your budget, maintenance, capacity, and environmental concerns.
Diesel cars are ideal for long journeys, offering excellent long-distance fuel economy. However, petrol cars require low maintenance and are cost-efficient initially.
Electric vehicles are also entering the Indian market due to their comparatively low long-term operational cost and eco-friendliness.
- Check for the Resale Value of Brand
Yet another crucial aspect to consider while buying a new car in India is to check its resale value. You can conduct market research on the car model you plan to purchase and opt for the vehicle brands that retain their value over time.
Considering the concerns of car servicing, most buyers look for cars with low maintenance, availability of spare parts locally, a powerful engine, etc. Such models are considered to have excellent resale value and are preferred by potential buyers.
- Check for Discounts and Offers
Car dealers often offer discounts during occasions or peak seasons to attract potential buyers.
You can take advantage of such offers and plan to buy your all-new car during the festive seasons or peak seasons to avail yourself of these offers. It will help save a good amount of money on your purchasing value.
- Buy Car Insurance
Last but not least, you should consider getting a vehicle insurance policy while buying a car. As per the Motor Vehicle Act of 1988, every vehicle owner in India must insure their vehicle against third-party liability.
So, third-party car insurance is mandatory for every vehicle. However, comprehensive car insurance can serve the purpose if you want coverage for both the third party and the vehicle. You can buy car insurance online or offline, depending on your preference and the availability of the insurance company you have chosen.
Must read:
- 4 Steps To Follow When Switching To Your Car Insurance Company
- A Guide To Necessary Add-On Covers To Car Insurance Policy
Thus, buying a car requires multiple considerations that can help you make the right decision. You can follow the tips and tricks mentioned above, apply for a loan, and buy car insurance online for added security. Vehicle insurance is a legal requirement, so it is mandatory when purchasing a car.
