For most of us, buying a new car is like a dream come true. We all certainly will be overwhelmed to drive away our favorite car home with all the plastic covers intact. If you are a first time buyer, for sure you will be on cloud nine and will be in an entirely new world. To add more happiness to your ecstasy, here we are focusing on a few key points to keep in mind before buying a car. Read on carefully, since there are chances of getting scammed if you do not research meticulously and it can be a reason to turn your happiness into blues. So, without any delay let’s get into the details.
Puzzle out your financing possibilities
Whether you are a first time buyer or a second time buyer, you need to have a long look at your finances. If you are hoping to get a loan or a financial deal, focus on your financial affairs like monthly income and expenditures that play a key role in buying any big thing. If you do not have much of amount and you cannot afford for a monthly payment, it is always better to look at second-hand deals that are much cheaper than the brand new cars, but it requires hard cash. If you have enough financial resources, do some market research on the type of loan you can get, if you need one at all.
Carry out a survey to find out your CIBIL score
Most of us do not know the role of credit score in attaining a loan. Usually the credit score ranges from 300 to 900. You get a great deal of chances of getting approval on your personal loan if your credit score is high. Most of the money lenders look for a higher credit score of at least 750. Sometimes you may need to improve your credit score if you have a less credit history by taking out a credit card while ensuring there are no missed payments.
Make an extensive market research
It’s surprising to know that the new car registrations are being drastically increased in India since a decade. Also a huge number of dealerships are being birthed in the market and creating confusion that which dealer to go with. Hence you need to carry out a thorough market research on the best dealership which provides genuine customer services whilst offering the best quotes. Yet, there are numerous websites on web which will help you in steep yourself about any potential cars. But you cannot always trust the information which is printed instead you should dig out some reliable pages. When it comes to cars,
we all have individual requirements as some look for family cars while some look for sports cars. So make sure that you look out for specific requirements rather than looking for cars at your nearest dealerships just for easy accessibility.
Do price comparison on cost comparison websites
Along with your market research on the car which you want to buy, ensure you scrutinize on the cost of the car model from various resources. Dealerships can sometimes offer amazing deals with or without financing options. Since all the dealerships need your business, you can always find a great deal of room for maneuver when it comes to the final pricing. Cost comparison websites are sure to make this step quite easy and quick and will showcase a list of prices offered in your area, key specifications and more.
Get a good price for your old car
It’s always good to know your old car’s worth before initiating any selling process. Or else, you may likely to get a far lower price than its actual worth. When you know your car’s value before visiting any dealership, you can make a well-versed decision. Good thing is that there are numerous online platforms where you can find out your car’s net value. Being well-informed you can easily barter with salesman to get a good price for your old car.
Here are a few more things at a glance which you should know before buying a car.
· Always test drive your prospective purchases to check whether you find driving delightful.
· Study user reviews to check the factual performance of the specific model
· Know what you are legally responsible for and what car company offers
Just an advice if you are planning to buy a Volkswagen car – a German multinational automotive manufacturer. PPS Motors is an authorized Volkswagen dealer in Hyderabad and has a decade plus association with Volkswagen. It always ensures that you got the best deal possible and also provides financial assistance if you are hoping to get a car loan. So think wise before purchasing any expensive thing like cars.