How to cut down extra expenses which come with using a car!

 

The time when a car was considered a luxury is long gone. Today, every single one of us views it as a necessity. It makes sense since the arrival of Covid-19 we are forced to cocoon ourselves wherever we go. But the thing about vehicles is that they are expensive. So, if you are planning to get your first car, or you are thinking about upgrading to a new model, you might be concerned about the expenses that inevitably come with a car. But if you keep in mind the following tips you can save considerably while getting a new car.

 

1. Wait for the proper time to buy to come.

The price of a car can vary according to the time you choose to get it. You can get the best deal on three main occasions. At the end of the financial year, end of each month or start or end of the calendar year are times when the dealership will be looking to clear out their stock. All dealers will be looking to reach sales targets also around these times. So the prices are likely to be reduced to complete the target sales.

 

2. Keep in mind finances and other related costs.

 Before jumping into getting a car, it is highly significant that while you choose you should figure out what you can afford. It is always wise to remember that this investment comes with many extra costs. The extra costs come in the form of registration, tyre and battery replacement, insurance, maintenance, fuel and small repairs due to wear and tear.

Set a budget for yourself to eliminate the need to go through avoidable expenses. Many people get carried away and end up with the need to pay more than what they expected. Consider the extra costs before selecting your car. It will help you to go for the most cost-effective way to pay for a car.

 

There are two main options if you require finance:

Dealer finance: This can be a convenient way of financing and you can arrange it at the same time you buy your car. But the only issue with Dealer Finance is that they usually charge a comparatively high-interest rate and may charge higher fees also.

Car loan: Considering a car loan from your bank can be the more cost-effective way to finance. You can also save money in the long term if you look for a loan without prepayment fees. You can easily avoid any penalty of late payment and pay it off as soon as possible.

 

3. Avoid paying for unnecessary features with no use to you.

Technology is rapidly advancing and its fingerprints are visible in the automobile industry too. But adding newer tech, features and luxuries to a car hikes its price and are you willing to pay extra for these?

Figure out what you need in tech and features before selecting a car and also figure out what you are trying to avoid. For example, you might need extra legroom, leather seats, safety features or warranties and you might be willing to pay for these. But you can avoid paying for a 360-degree camera if you are already good at parking or You might need to navigate better so you can get a car with a built-in satellite navigator, but you can also just pay for a smartphone stand to mount the smartphone on your dashboard. Get clarity on what you need to steer clear of unnecessary expenses.

 

4. Research multiple dealerships and compare prices.

Every car manufacturer has numerous dealerships and they all need sales. You are bringing business to them and it is always a good idea to compare these dealerships, because you can compare the prices and get the best deal possible. If due to some miracle, you cannot find a price-point advantage, it will at least give you a proper idea of what you can get inside your price range, which in turn will help you negotiate better. Different dealerships will have different time periods to deliver your car and it will be helpful to compare if you need the car sooner.

 

5. Don't shy away from negotiating.

Like most corporate markets in India, the car market is also highly competitive. Every dealership has its targets to achieve and they are working hard to complete them. What is in it for you is that towards the end of the month, there would be plenty of dealerships waiting to achieve the target sales and this forces them to reduce prices to make sales. Enquire about their best price and settle for a walk-away price (it is the price they offer when you start walking away). If the prices at every dealership are steady and can't go lower, you will at least walk away with free accessories like wooden door trims or cabin mats.

 

6. Car leasing- an ideal alternative.

Car leasing has been around here for a while and it is a rapidly growing business that provides an ideal solution for your mobility needs. There is a rising culture in companies where they offer their employees a company car as part of their salary package. This benefits them by monthly paying the lease amount from the employee's salary before tax. This gives them a major tax break at the end of every year. Moreover, the many hassles that come with using a car are taken care of by the leasing company. For example, they take care of regular maintenance and insurance without handing the troubles to you. Among all the top car leasing companies in India, ALD Automotive has been leading for years as the best. They offer various kinds of leases like ALD Ugo and ALD Pro to make the lease suit your needs. ALD Ugo can let you take your car to your next job and after your lease period ends you can easily upgrade to a new car without worrying about your car's resale value. You can easily upgrade to a better car with techs of the time without paying the full amount because you will be only charged for how much you use. The monthly lease amount solely depends on the car model, tenure and additional services you choose. ALD Automotive stays at the top because of its cost-effective lease plans, customer services and various additional services they offer to clients. To know more about all the services and lease plans, visit ALD Automotive.