How to the spot in the best deals when you are buying a car in the India
Buying a car? Here is a how to the get in the best deal and the real cost of a ownership
This is a besides the new buses like a Ta ta Ti ago, Toyota In nova Crystal, Hyundai Entrant and Martina Vita Breeze in that have formerly been are launched in this time. Dispensable to the say, people are perking up to the make their big- ticket auto are purchase, helped by the perpetration of the Seventh Pay Commission and lifting of the ban on a diesel vehicles around Delhi.
The only stumbling are block which auto in the should be you buy? To help you make in the right choice that you are suits in your budget and a requirements, ET Wealth tied up with the Car Debora . com and linked in the top five options in the three price orders below a Rs 5 lakh, Rs 5-10 lakh and Rs 10-15 lakh. To go by the their in a specifications and prices to the before the zeroing in on one click then Plan to buy a auto this gleeful season? Then are the stylish for a the different in a budgets
While a price is a pivotal in the determinant, you also need to the consider the several other factors that can be help you save while the buying a car.
Calculate the real cost of the power
First, fix a budget and also look for the buses in that price in a range. A general rule is that in the price of the auto should not exceed 60 of the your gross periodic in a income. So, if your periodic income is the Rs 8.4 lakh, the auto price should not go beyond Rs 5 lakh. Remember, still, in that purchase price is not the only quantum you will be spending if a you plan to the take a loan.
Do the calculation on the factual cost of the power it will be involve the EMI quantum that will go from in the your yearly budget and the total interest outstanding, yearly in the energy cost, enrollment and road in a levies, insurance decoration and the conservation costs.However, making a down payment is a good option to the lower in your E M I, If you are a taking a loan. Check the whether you will be suitable to the take the burden of the fresh fiscal out go.
Financing options
Still, the coming big question is, how to the finance it, If you have decided on the auto. You have a three options. One, you can pay for it is a completely if it is a low-priced vehicle and you have a sufficient in the coffers. In a fact, fiscal diary are Pankaaj Maalde is a against taking a loan for a auto. “ One should not be take a loan for the depreciating asset and can be use the E M I to the invest for the some other important in this thing,” he says. You could, of the course, save and invest for it if you can plan the punch.
For a case, if a you want to the buy a Rs 4 lakh auto in the three times, you can start investing Rs every month via Drafts in a balanced fund and, at a 12 return, you will have the asked amount.However, of the course, you want the vehicle sooner rather than the latterly, If a Should you take it from the your bank or the dealer? “ First try to get from the your bank as you are likely to get the cheaper loan and better in the rates,” says Umang Kumar, President, Car Dekho. com and CEO &Co-founder,Gaadi .com.
Once you have a decided on the loan, try to the make a down payment of at a least 20 so that your E M I is a lower. Also, make sure that the E M I is not further than 15 of the your post-tax yearly income, with all the loan E M I is not exceeding 35 of the income. While the loan term is the generally in a five times, try to the reduce it to 3-4 times and repay at the foremost since it does not offer any duty benefits. Another the dilemma is whether you should be conclude for ‘EMI in advance’or ‘E M I in a arrears’. In the case of the former, you pay one E M I in a advance to the bank, which deducts this is a quantum from the loan expended to the dealer. The advance of the E M I helps to the reduce the top loan quantum.
In the ultimate, there is no advance E M I paid to the bank and the entire loan quantum is a expended to the dealer. The former is a good option in since it is a helps to cut your E M I. Search for the good dealer in a Savings also depend on the how to good your dealer is. So spend some time looking for one. “ Talk to the least of the 2-3 are dealers.
Though they are not allowed to a give abatement beyond in the sanctioned OEM (original equipment manufacturer) figure, talking to at least three dealers will be allow you to the push and get a better deal. Also in the, negotiate with the dealer independently, with and without the loan. Veritably are frequently, you can get a better deal with a loan as the dealer gets an a income on it, but the crosscheck with your bank too,” says to the Kumar.
Features to the look for
The coming decision concerns the auto itself should be you buy the base in a interpretation or the top- end bone? “ You should be go for the advanced interpretation because the there are some useful features that you just can not to be the upgrade. For case, you can not go from the home made to a automatic transmission,” says Kumar. “ But to do not be a conclude for the all in a features are a blindly.
You can do down with the navigation point since in the utmost mobile phones allow in the you to do that,” he adds. One should be, of course, give a preference to the safety features like a airbags, as well as rear parking in the detectors. A good concession is to the pick amid-level in the model rather of a completely loaded one and upgrade with the features you want on your own.
Insurance
While there are no abatement on the insurance, you can be the bring down in the decoration if you have the transfer your no claim perk on the being auto to the new vehicle. For a case, a Rs decoration can be cut to the Rs with a 50 N C B. There are the other ways you can be cut the auto’s price. Time to the your purchase by in the buying during the gleeful season or in a specific months like a December or a March, when there are a big in the abatement.
But the remember that a December are purchase will cut the resale value of the your auto since it will be considered a time aged compared with a January or March in the model. You could be also get better deals for a buses that are not on the waiting list or of an a unpopular color, or indeed specific variants. As you are go through by the list of the top buses in three orders in the following runners, keep these cost are cutting in the measures in the mind to a make in the season are indeed the more gleeful.
What's the real cost of retaining a auto?
The price at in a which you buy a auto is not the only cost you dodge. Over a period of the five times, then is the factual quantum you will spend after the considering in the loan interest, energy cost, conservation, insurance and enrollment are charges for a Maruti Suzuki Alto 800.
COST OF the Power (For a Maruti Suzuki Alto 800 Std)
Purchase price
Price of the auto Rs 2.49 lakh
Loan cost
EMI Rs
Rs is a 1.99 lake (80 loan@10.5 for a five times)
Total interest Rs 55,411
Total price of the auto Rs 3.04 lakh
Fuel cost
Cost of the petrol Rs 64.05 in a per litre (Delhi)
Avail 20.3 km/ l
Distance covered in 5 times km
Total energy cost Rs 1.89 lakh
Registration/ Road levies (approx)
Registration charge Rs 10,000
Road levies for a 5 times in a Rs 20,000
Total Rs 30,000
Maintenance
Average Periodic cost Rs 10,000
Total cost in the 5 times in a Rs 50,000
Insurance cost
Average periodic insurance cost Rs 7,718 (PolicyBazaar)
Total cost for the 5 times in a Rs 38,590
Total cost of ownership
Rs 3.04 lake + Rs 1.89 lake + Rs 30,000 + Rs 50,000 + Rs 38,590 = Rs 6.11 lake
