New Delhi2 hours agoAuthor: Vikram Ahirwar
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Festive season is going on. Shopping in this is considered auspicious. If you are also planning to buy a new car this season, then here we are telling you about selecting a 'value for money' car in 5 points. 'Value for money' means a car which is within your budget and has all the useful features.
1. First decide the budget Pankaj Mathpal, personal finance expert and founder and CEO of Optima Money Managers, says that the cost of the car should not be more than half of your annual income. For example, if your annual income is Rs 10 lakh, then the price of the car should be up to Rs 5 lakh.
2. Choose only models with useful features Companies also provide many such features in the expensive variants of the car, which are not necessary for you and you never use those features. The price of such a car is high and despite being expensive, it does not prove to be value for money. Therefore, you should choose only the model with the features you need.
There are 4 types of features in the car…
- Unnecessary features – Such features are just for show and are rarely useful.
- Less important features – Work can be done without these or they can be installed from outside.
- Important features – Such features are useful every day, they also include safety features.
- Safety Features – The number of safety features in the car is very less. Apart from this, the structure should also be strong.
3. Avoid dealership accessories The dealership provides many accessories with the car, which cost quite a lot. 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 kilometres, the car needs service. Therefore, before buying any vehicle, it is important to have complete information about the after sales service of that company and dealership. Because, this makes the car easier to maintain.
5. Insurance According to the Motor Vehicles Act, 1988, every car owner must have insurance for his car. It is illegal to drive a car without insurance. Doing so could result in a heavy fine or even confiscation of the car. Not only because of the fear of fine, but also because of the increasing number of accidents on the roads, it is important for you to have car insurance. There are many reliable insurance companies in the country, which offer policies with very attractive features. There is a difference in the policies of all these.
What precautions should be taken while buying a car
- One should always choose the car as per the need. Do not finalize the deal from a single showroom, to get a better deal, finalize the deal by taking quotations from three-four more dealers.
- Whatever car you are going to see in the showroom, get complete information about it from the salesman, ask about all the features and engine. Apart from this, do a test drive of the car also.
- If you need a loan, then first of all you should know about the rates of interest of different banks and finance the car from the bank which offers loan at the lowest interest rate.
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