The festive season of Diwali is considered to be the most auspicious and favorite time to bring home a new car in India. During this time, automobile companies and local dealerships offer huge discounts, exchange bonuses and many attractive offers to attract customers. Seeing the glamor of showrooms and huge crowd of advertisements, buyers often take hasty decisions, due to which they miss out on getting the best deal.
A little wisdom, proper planning and accurate market information can help you save thousands to lakhs of rupees. A perfect deal not only means getting cash discount but also bargaining wisely on insurance, accessories and loan interest rates. If you have also decided to buy your favorite car or bike in this festive season, then the tips given below will prove to be very helpful in reducing the burden on your pocket.
Get and compare quotes from multiple dealerships
Don’t rely on a single dealership during the festive season. Ask for on-road price quotations of the same variant from at least three different showrooms in your city or nearby area. Dealers are often under pressure to meet sales quotas. When you show a dealer a discount offer from another dealer, they are ready to give you an even better deal.
Take insurance policy from outside
The biggest bill when buying a car is insurance. Dealers usually impose their own in-house insurance policies, which are quite expensive. Check the premium with the same IDV and add-on covers (like zero dep, engine protection) on Policybazaar or other online portals. By taking a policy from outside, Rs 15,000 to Rs 40,000 can be easily saved. You can also ask the dealer to match the price by showing the same online quote.
Bargain on bank loan and processing fees
If you are taking a car loan, do not depend directly on the partner bank of the dealership. Nationalized and private banks offer zero or low processing fees and concessional interest rates on Diwali. Check the pre-approved loan offer from your existing bank in advance. If your CIBIL score is above 750, you can get an additional discount of 0.5% to 1% on the interest rate.
remove unnecessary burden
Dealers often add ‘Essential Kit’ or ‘Basic Accessories’ worth Rs 20,000 to Rs 35,000 to the quotation, which includes things like mats, mud flaps and perfume. Ask for these packages to be removed immediately. Items like carpet mats, chrome garnish or seat covers are available at half the price from reliable aftermarket stores. Get only that work done by the dealership which will not affect the warranty of the vehicle.
Corporate Exemption and NCB Transfer
If you already have an old car which you are selling, then get its No-Claim Bonus (NCB) certificate transferred to the insurance of your new car. This gives a discount of 20% to 50% on the on-damage premium of the new insurance. Additionally, if you are associated with a corporate firm, government department, military or educational institution, then do ask for a special corporate discount ranging from Rs 5,000 to Rs 20,000.
Pre-Delivery Inspection (PDI)
During the festive season, dealers often hand over old or slightly dented vehicles kept in the stockyard. Before making full payment or registering the vehicle, do PDI of the entire vehicle yourself in broad daylight. Make sure to check the VIN number of the vehicle and the month and year of manufacturing.
