Top tips to keep in mind before buying a new car

Buying a new car can prove to be a tedious task especially when considering the plethora of options the market has to offer today. Zeroing in on the car you want is a task in itself and when the decision is finally made, comes the part where you need to get the financials sorted.

File photo of a Nexa dealership for representational purpose only.
File photo of a Nexa dealership for representational purpose only.

Buying a car involves a long term financial commitment since most of the new vehicle purchase are done on loans from bank and other financial institutions.

So here's a word of advice for those scouring showrooms to buy new cars.

Make an informed decision:

It's important to do your homework before setting up mind on a specific car. Use the internet or read automotive articles to gain knowledge about vehicle types, powertrain, transmissions and features. This will make you an informed buyer and chances of you slipping on to the overzealous salesperson's tactics will reduce drastically.

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List down your requirements:

It is yet another important factor when buying a new car. Make sure you are clear about the car you've set your mind on. Chalk out a blueprint of your requirements if you need a petrol or a diesel, a manual transmission or an AMT, whether you prefer performance over comfort or features, be clear about it.

Decide a budget:

Do your math and decide the kind of money you are okay to shell out. If you are buying vehicle on EMIs, calculate the monthly premium that you are willing to pay without over-troubling your finances. Also, it is recommended to pay a sizable down payment amount so that your monthly EMIs shrink.

Know the discounts:

A majority of OEMs introduce monthly discounts and schemes which change on a timely basis. Keep yourself updated with the latest offers. Also, sometimes the offers and discounts vary depending up on the dealer location. So it's important to do a research on this bit before hitting the showrooms.

Don't talk money:

Don't reveal your exact ability to pay since sales people are trained to push your budget a notch higher if you name price right off. Just figure out which model, variant and engine configuration you need and stick to it. And when it comes to old car exchange, go to a multi-brand used car dealer to get it valuated and then negotiate accordingly.

First Published Date: 09 Jul 2020, 17:00 PM IST
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