Everyone has a dream of purchasing a new car in life. In many of the country buying a new car is like adding a new member to the family. A new house and a new car are things everyone desire in their life. However, when purchasing a new car, there are several factors that need to be considered. In todays time, when the prices of cars are in many lakhs, if you buy a car without proper evaluation, we might regret it later. Therefore, keeping all these factors in mind, the following points are listed about what to consider when buying a new car.
First and foremost, we need to list out 3 major points;
- Why do we need to buy a new car ? For office use, daily commuting or for any other reasons ?
- Is it for family trip once or twice a month ?
- Is it to maintain a certain status in society ?
These are all key points to keep in mind before planning to purchase a new car.
You also need to decide below points,
- How much will you drive the car in a month. On average, how much will it be used each month ?
- What is the maximum distance you drive per month ?
- 90% of time, where will you be driving ? Is it on highways, heavy traffic area or rough roads etc.
Why should all these factors be considered ? Because it will help you decide which type of car is more suitable for you.
Budget : What is your budget for the car ? For example, if your budget is rupees 10 lakh then try to stay within 15% more or less, but don’t exceed this range.
Insurance: Before finalizing your car purchase, make sure to explore the best discount options, mainly the insurance. Insurance is mandatory before you take the car on the road. Typically, we buy insurance from the dealer, as it seems convenient. However, this isn’t mandatory. Dealers often include their commission, which increases the cost.
Instead, you can explore independent insurance companies. By purchasing insurance directly based on your cars valuation, you may get a better rate and save money. This saved amount can be used for buying car accessories or kept aside as savings.
The process is simple – you can purchase insurance online by providing your cars details, eliminating the need to visit an insurance office and wait for long hours. This saves both money and time. Also negotiate for additional discounts such as festival offers, corporate offers, year end offers etc.
Checklist Before You Test Drive
Make a list of all the features and specifications you want in your car before heading for a test drive.
Importance of a Test Drive
- A test drive is crucial to ensure the car meets your requirements.
- Check if at least 90% of your requirements are fulfilled. If there are 2-3 additional features beyond your needs, that’s fine, but avoid unnecessary extras.
- Be cautious of salespeople trying to influence your decision. Stick to your checklist and preferences.
Evaluate the Negative Points
Identify the car’s negative points during the test drive and evaluate which ones are acceptable for you. For example, what may be a drawback for someone else might not matter to you. Remove such points from your negative list. This way, you can filter and focus on the aspects that truly matter to you.
Finally Booking the Car
Before booking the car, ensure that every detail is thoroughly discussed with the sales person.
Key Steps:
Visit multiple dealers before finalizing your purchase. It’s essential to compare offers and discounts to get the best deal.
When visiting a dealer, ask the following questions,
- What documents are required?
- Can I take insurance on my own or is it mandatory to go through the dealer?
- Which all accessories are included?
- What is the delivery date?
- What is the total cost of the car including all fees and taxes etc. ?
- How much do I need to pay as a down payment?
During delivery, conduct a Pre-Delivery Inspection (PDI) to check the car thoroughly and ensure that everything matches your expectations.
Verify the bills to ensure they align with the payments you have made.
Check that all documentation is accurate and complete.
If any items or accessories promised by the dealer are missing, ask for an official letter stating the delivery timeline for those items. This will serve as proof for follow-up later.
If the dealer refuses to provide an official letter, do not make the payment for the missing items.
Finally, plan and evaluate carefully before buying a new car. Don’t hurry – take your time, sit down and discuss it with your family members and friends before jumping into any conclusion.
