5 Tips for First Time Car Buyers

Buying a car isn't an easy job. Especially if it's your first time, you can find yourself in a dilemma. Moreover, there are many features and attributes to check across and a bundle of things to consider.

But your first car purchase doesn't necessarily have to be so hectic and confusing. Are you wondering how? Go through the five full-proof tips for first-time car buyers that will lead you straight to your dream vehicle!

Put Up a Realistic Budget

One of the mistakes that most car buyers make is not determining a budget. There are hundreds of models available ranging from all price brackets. Setting a realistic budget is the first step towards ensuring a good purchase. Also, by budget, we mean the cost of buying a car, registration, maintenance, fuel, EMIs, insurance, etc. Setting a budget will also help you avoid overspending on the vehicle.

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Do Your Research

Don't just jump on the first car model that the dealer presents in front of you. There are many choices with car brands and models in the Indian market. Firstly, go over the different auto brands available in the market. The next is to list your requirements and needs and search for a model based on that. Also, compare the different cars in terms of mileage, speed, interiors, and other features.

Consider the Resale Value

Vehicles are an asset. It would be best if you remembered as a car owner that the car's value starts to depreciate the minute you drive it home. The price of vehicles typically depreciates by 30% in the first year. Before buying any model, calculate the future resale value. This tip will ensure that you make a profitable purchase. Also, knowing the resale value will give you a fair idea of the car loan amount for the future.

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Understand Car Financing Options

There are several financial methods for paying for your car. It is no secret that most of us prefer loans over paying cash upfront when it comes to cars. If you are opting for a car loan, always stick to a reliable financer. The financer should have flexible repayment terms and a low rate of interest. Most major lenders have tie-ups with renowned car showrooms. You can also compare car financing options online!

Negotiate!

The last yet most essential tip is to negotiate. It is a popular misconception that car dealers are stringent with the price tag. The good news is many showrooms can sweeten the deal with great discounts and freebies. We suggest you bargain hard with the dealer. It would be best to time your buy during the festival season to get a better offer on your vehicle.

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So, are you all geared up to buy your first car? We hope you have a great experience buying your first car!