If you’re planning to buy a new car, especially during the festive season, you can save money on the final price in several ways. Most buyers don’t realize that the on-road price, which includes taxes, insurance, and other extras, can be reduced significantly if you know what to look for. Here are some easy-to-follow tips that will help you lower the on-road cost of your vehicle and get a better deal.
Don’t Feel Obliged to Buy Insurance from the Showroom
One of the easiest ways to cut down the on-road price of a car is by opting out of buying insurance from the showroom. While it’s convenient to purchase car insurance directly from the dealer, it’s often more expensive than buying it separately from an insurance provider. Many buyers shop around for insurance outside the dealership because they can find better rates, sometimes saving thousands of rupees.
When you opt for outside insurance, bring a valid policy when you collect your car from the dealership, as it is mandatory to show proof of insurance before taking delivery.
Skip the Extended Warranty
Extended warranties are another add-on that can inflate the price of your car. Dealerships often push buyers to purchase an extended warranty, but it’s not mandatory. If you don’t feel the need for an extended warranty or prefer to buy one later, you can opt-out and save money on your initial purchase.
Compare Financing Rates
When financing your car, always compare the interest rates of different banks and financial institutions. Don’t automatically go with the finance options offered by the dealership. Often, third-party lenders can provide better interest rates and lower EMIs. A little research can help you save on the total cost of the car loan, ultimately reducing your car’s on-road price.
Look for Festive Offers and Dealer Discounts
Festive seasons are a great time to buy a new car, as many dealerships offer discounts and promotional offers to attract buyers. Check for special deals, cash discounts, and even exchange bonuses that can significantly reduce the overall price. Sometimes, waiting for the right time to buy can save you a considerable amount.
Additional Tips to Save More
- Negotiate Registration Charges: Dealerships usually charge for the registration process, but it’s worth checking if you can get a discount or handle it yourself for a lower fee.
- Accessories: Dealerships often include accessories that aren’t always necessary. Ask them to remove any that you don’t need, which can bring down the final price.
By being smart with your decisions on insurance, financing, and optional add-ons, you can easily reduce the on-road price of your new car and save money in the process.
