5 Simple Tips To Cut Costs On Your New Car Purchase

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Pic Source: Dayanand Karanth

You could save a lot of money by applying these 5 simple tips when buying a new car from authorised car dealers of any brand across the country

Buying a new car can be an exciting experience, but it can also be an expensive one. However, there are ways to save money while still getting the car you want. Here are five ways to save money while buying a new car:

1. Self-Insurance Is Cheaper Than Buying It From A New Car Dealer

Insurance is one of the most important things to consider when buying a new car. While it may be tempting to buy insurance from the new car dealer, it is generally more expensive than self-insurance. To save money, it is important to crosscheck with multiple insurance companies and don’t forget to take return-to-invoice protection, water protection, all damage covers, key protection, and 0% depreciation cover in car insurance. These features may increase the premium, but they will also provide comprehensive coverage and protect your investment.

mahindra bolero neo-19
Pic Source: Mr.Arun gopalakrishnan

2. Use No Claim Bonus (NCB) On Previous Car To Save Money

No Claim Bonus (NCB) is a discount offered by insurance companies to policyholders who have not made any claims during the policy period. This discount can be used to reduce the premium on a new car insurance policy. To save money, it is important to check if NCB is applicable on the previous car and if it can be transferred to the new car.

3. Look For Low-Interest Rates from Banks For Car Finance

Financing a new car can be a significant expense, but it is possible to save money by finding a bank with low-interest rates. It is important to crosscheck with 2-3 banks to find the best deal. Even a small difference in the interest rate can lead to significant savings in the long run.

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4. Basic Accessories Can Be Bought From The Local Market

Car dealerships often offer accessories like floor mats, seat covers, and other items, but these accessories are often more expensive than similar products available at local markets. To save money, it is a good idea to buy these basic accessories from the local market. Not only will you save money, but you will also be able to choose from a wider range of options.

5. Extended Warranty Is Optional On Every Car Purchase

Extended warranty is an optional feature that can be purchased with a new car. It provides additional coverage for parts and labour beyond the manufacturer’s warranty. While extended warranty can be a good investment, it is important to weigh the costs and benefits carefully. In many cases, it may be more cost-effective to save money for potential repairs instead of purchasing an extended warranty.

2022 Maruti Suzuki Celerio Accessories

In conclusion, buying a new car does not have to be an expensive experience. By following these five tips, you can save money while still getting the car you want. Remember to crosscheck with multiple insurance companies, use NCB to reduce premiums, find the best car finance deal, buy basic accessories from the local market, and weigh the costs and benefits of an extended warranty before making a decision. With a little research and planning, you can enjoy your new car without breaking the bank.