Why Do You Need Extra Care While Buying A Car For First Time?
Compared to a repetitive or additional car buyer, a first-time car buyer is not much aware of the hidden costs and challenges he might face after buying a new car. He also has lesser expertise in buying a new car than someone who has already bought one.
Common Car Buying Tips for First-Time Buyers:
For first-time car buyers, it is crucial to consider every aspect which affects their pocket and driving behaviour. Following are some tips which you should follow if you buy a car for the first time:
- Deciding on a realistic budget
While you might get tempted to buy a car out of your budget just at the expense of a few additional bucks in your EMIs, fix your maximum budget on your real priorities. Consider cost-draining factors like maintenance, fuel, registration, insurance, down-payment, EMIs and unpredictable accident repairs.
- Thorough research on the type of car
Unlike before, the first time car buyers of the current generation are spoilt with choices, as there are several compact sedans and SUVs, apart from the wide range of compact hatchbacks. Determine what will be your use depending on your driving cycle and environment, and do prior research on online platforms related to that product and its reviews.
- Proper test drive
Usually, sales personnel at dealer outlets give a short test drive, which doesn't reveal much about the attributes of a car. Take a long test drive, preferably in the environment and roads where you will be driving daily and check parameters like steering feel, braking, acceleration and comfort on both front and back seats.
- Knowledge about financing options
If you are opting to buy your first car with the help of a car loan, always opt for a trusted and reliable source, preferably an established bank. You can consider taking the help of dealer outlets, which have tie-ups with prominent banks and financers for new car loans. However, you can compare all the options online that can fetch you lower interest rates and minimal hidden costs sometimes.
- Negotiation and bargaining on prices
It is a common thought that dealer outlets offer discounts and freebies during festive seasons to attract new car buyers. However, in the current times, offers are available throughout the year, especially for those cars which are readily available. Consider durations like month ends and low sales months like May, June and December to get better deals since, during these days, dealer outlets try to give the best offers for stock clearance.
