From Discounts To Insurance: 6 Tips For Buying A Car This Festive Season

Tips for buying a car this festive season

If you plan to buy a car this festive season, the following tips can help you make a well-informed decision —

1. Finalise a budget: Firstly, work on your finances and decide on a budget accordingly.The budget you choose mustn'tcompromise your financial stability. While finalising a budget, consider the purchase price of the car, its maintenance and fuel costs, car insurance premiums, and more. This will help put down a tentative budget, make the buying process smoother and help you prevent overspending.
2. Choose a car: Shortlist a few cars that fit your budget and compare their features and benefits before zeroing in on one. You must also check expert reviews online and could even ask friends and relatives for suggestions if they own a similar vehicle. You can even visit a few showrooms for a test drive and get answers to all your queries from the salesperson there.
3. Choose the fuel type: While petrol cars are more expensiveto runthan diesel cars, they have some advantages, such as better initial acceleration, low noise and vibration, and lower maintenance costs. On the other hand, diesel cars promise more consistent power output, fuel efficiency, longevity, and other benefits. Hence, compare both options and choose one that best matches your requirements.
4. Look for deals and discounts:Manufacturers and dealers offer attractive deals and discounts during festivals like Christmas. Therefore, check and compare the available deals and discounts and make an informed decision. It is wise to opt for cash discounts instead of accessories and add-ons.
5. Apply for a car loan:If you take a car loan during the festive season, you may get one without any processing fee. Moreover, banks and non-banking financial institutions may also offer loans at low interest rates, flexible repayment options, and other benefits during the festive period.
6. Buy car insurance: The Motor Vehicles Act of 1988 makes it mandatory for car owners to cover their vehicles under a car insurance policy. You must have at least a basic third-party insurance policy before taking the car on the road.

If you are buying a car this festive season, look for a good car insurance policy, preferably a comprehensive one, for wide coverage and better financial security. A comprehensive plan covers third-party liabilities, personal accidents, damage due to fire, natural calamities, etc. Moreover, you can also choose important add-ons for additional protection.

Insurance companies offer policies at competitive prices during the festive period. Some may also offer festive-specific discounts and offers for covering new cars. Therefore, look out for good offers, like discounts on car insurance premiums and free accessories, to reduce your financial liabilities.

Conclusion

To sum up, a car is a significant investment that involves the initial purchase price and also other ongoing expenses, like fuel, maintenance, repair, andcar insurance. Hence, if you are planning to buy a car this festive season, evaluate your budget, select an ideal car, look for attractive deals and discounts, and make a purchase accordingly. Most importantly, remember to cover your car under a third-party orcomprehensive car insurance policy to avoid legal issues. A comprehensive car insurance policy will offer a wider scope of coverage as it offers financial protection in case of third-party liabilities, personal accidents, and more. Many insurance companies also offer appealing deals during the festive period, making this festive season an ideal time to purchase a new car.

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