The festive season is on. Shopping is considered auspicious on these days. If you too are thinking of buying a new car this Dussehra, here we are telling you about 5 points to choose a 'value for money' car. 'Value for money' means a car that is within your budget and has all the useful features.
1. Set a budget first Personal finance expert and founder and CEO of Optima Money Managers Pankaj Mathpal says that the cost of a car should not exceed half of your annual income. For example, if your annual income is Rs 10 lakh, the car should cost up to Rs 5 lakh.
2. Choose only models with useful features Companies offer many features even in expensive variants of cars, which are not necessary for you and you never use those features. Such cars cost more and despite being expensive, they do not prove to be value for money. Therefore, you should only choose the model with the features you need.
The car has 4 types of features…
- Unnecessary Features – Such features are only for show and are rarely of any use.
- Less Important Features – The job can be run without this or installed later.
- Important Features – Such features are useful every day, they also include safety features.
- Safety Features – The more number of safety features a car has, the better. Apart from this, the structure should also be strong.
3. Avoid dealership accessories The dealership provides many accessories with the car, which cost a lot more. Buying these accessories from the market instead of the dealership can save a lot of money.
4. After Sales Service After a certain period of time or after driving a limited number of kilometers, a car needs servicing. Therefore, before buying any vehicle it is essential to have complete information about the after sales service and dealership of that company. Because, it makes the maintenance of the car easier.
5. Insurance According to the Motor Vehicle Act, 1988, every car owner must have his car insured. It is illegal to drive a car without insurance. Doing so can result in heavy fines or even impounding of the car. Not only because of the fear of fines, but also because of the increasing number of accidents on the roads, it is necessary for you to have car insurance. There are many reliable insurance companies in the country, which offer policies with very attractive features. All these have different policies.
Click here for complete information on precautions to be taken before taking insurance…
What precautions should be taken while buying a car?
- One should always choose the car according to the need. Don't finalize the deal from a single showroom, finalize the deal by taking quotations from three-four more dealers to get a better deal.
- Whatever car you go to see in the showroom, get complete information from the salesman, ask about all the features and engines. Also do a test drive of the car.
- If you need a loan, you should first know about the interest rates of various banks and finance the car from the bank that offers the lowest interest rate loan.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
