10 smart tips to cut costs while buying a new car in India

financialexpress.com:

Purchasing a new car brings excitement to the entire family, as everyone looks forward to having the best vehicle for comfort. However, amidst this excitement, one crucial consideration that arises is the cost. While affordability may not be a concern for some when money isn’t an issue, it’s essential to factor in cost-saving measures both during the initial purchase and for long-term ownership when budget constraints come into play.

The car market offers a myriad of choices across budgets and brands, and making a cost-effective decision requires careful planning and savvy negotiation skills. Here are some valuable strategies for new car buyers aiming to reduce costs without compromising on quality.

Begin your journey by conducting thorough research. Compare prices, features, and customer reviews across multiple platforms and dealerships. Online resources such as automotive websites, forums, and social media groups provide valuable insights into real-world experiences with different car models. Pay attention to long-term ownership costs, including maintenance, fuel efficiency, and insurance premiums.

Also Read: Car Loan Prepayment: 10 smart strategies to pay off your car loan faster

Determine your budget range based on your financial situation and avoid overstretching. Consider not only the initial purchase price but also ongoing expenses like loan interest, insurance, fuel, and maintenance. Aim for a balance between affordability and value for money by prioritizing essential features that align with your needs.

While cash payments may seem ideal for avoiding interest costs, exploring financing options can provide flexibility and preserve liquidity. Compare interest rates and terms offered by banks, credit unions, and