Planning to Buy Car This Festive Season? Here’s Checklist You Shouldn’t Ignore

Posted on: Oct 4, 2021 | | Written by:

Planning to Buy Car This Festive Season? Here’s Checklist You Shouldn’t Ignore

Published on October 1, 2021. EST READ TIME: 4 minutes

With festivals around the corner, the sale of cars expects to be on the higher side. In India, many people consider Dussehra and Diwali auspicious occasions for buying two-wheelers or four-wheelers. Buying a car is a milestone achievement for many individuals. Therefore, be sure to choose the best one to suit your requirements. Figure out the financial expenses you will be ready to incur for the fuel and maintenance cost, and then choose the model/brand accordingly. Unforeseen circumstances like theft, accidental damage is unavoidable, hence choose the new car insurance policy accordingly. Besides, utilize the festive season to get free accessories installed in your vehicle and offer attractive discounts.

Financial Aspect

Everyone dreams of buying a car one day; however, think about your necessity rather than a luxury before buying. E.g. a family of just three or four people might go for a fuel-efficient comfortable hatchback car between the range of 4-6 lakhs rupees. The spare parts of these types of cars are also easy to find at a budgeted price. However, if you are willing to spend on a higher side and have no budget constraints, you can choose the car you desire. It is essential to analyse financial impacts before buying a car and choose the best offer from the dealer. While availing of an auto loan, understand the implication of EMI on future cash flow.

New Car Insurance Policy

We all are aware that it is illegal to drive a car without a car insurance policy. Hence, before buying a new car, choose the best car insurance policy which covers maximum coverage and meet your requirements. Types of car insurance policy you can choose are as follows:

Comprehensive Plan -

All rounded coverage includes cover against damages to your car or damages to a thirdparty person/ property. In addition, comprehensive insurance plan covers accident, personal accident cover, natural calamities, third party liability and theft.

Third-Party Cover -

Third party insurance cover only protects against liabilities arising from damage, injury or loss to a third party person or property. As stipulated in the Motor Vehicles Act 1988, this is a mandatory cover, and it is a punishable offence not to have an excellent third party cover.

Stand Alone Damage Cover -

Stand Alone Damage Cover cover offers one-year coverage against damage to your car along with a three year cover against damages to a third party person/ property. This plan is ideal for the one who has purchased a brand new luxurious car.

Analyse Discounts and Offers

While buying a new car, continually analyse the discount offered by the dealer. Check whether that discount serves the purpose or not. Cash discounts can be beneficial than product discounts, as the buyer might not need specific items offered by the dealer.

Safety Features

Always remember, safety comes first before anything else. When it comes to buying a new vehicle, do take a check on the safety features. The Ministry of Road Transport and Highways has made it mandatory to have dual airbags in the front row for vehicles manufactured on and after 1st April 2021. Apart from airbags, check for additional safety features like autonomous emergency braking and reverse parking sensors. Try to choose the vehicle model which is equipped latest safety equipment like electronic stability control that helps apply brakes on individual wheels and have better control while driving.

Take a Test Drive

Last but not least, take a good test drive of the car you wish to buy. It is essential to take the experience of the car in which you will invest your hard-earned money. While taking the test drive, ask all possible questions with the salesperson related to maintenance cost, fuel efficiency and availability of spare parts. You can also take a test drive of the electric vehicle (EV) available in the Indian market. EV can help you save immense costs in the long run, and the Government has also planned to install more EV charging stations in coming years.

Conclusion

Many people might be buying the car for the first time in this coming festive season, which is significant for many middle-class people. Most people buy the car to use it for maybe five years or more. Therefore, consider the maintenance aspect, the EMI plan and mileage. Analyse your requirements as per the size of your family and consider the travel frequency. Like, whether you drive the vehicle daily to the office or only use it once a week for family outings. If the vehicle will be used for daily commuting for lengthy distances, then a fuel-efficient car, CNG, or electric vehicle can be considered. Also, it is essential to choose the best new car insurance plan for your vehicle, which can cover damages caused under any unforeseen circumstance.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

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