We all buy a new vehicle at some point in our life be it a two-wheeler, car, or any commercial vehicle. There are a few ways where you can save money on your new vehicle purchase.
To save money on your new vehicle purchase in India, you should understand the breakup of the total cost of the vehicle ( on-road price)
The total cost of the vehicle is divided as follows ,
Basically it is the price at which the factory gives the vehicles to the dealer. Normally it varies according to the individual country or state due to the transport cost and individual state tax and detection.
You can always check the Ex-showroom price online and ask the dealers for the same price if they had inflated the Ex-showroom price.
During COVID -19 online sales of the vehicle were introduced in Paytm, where the ex-showroom price was competitive.
You can take quotation from dealer point to save money on ex-showroom price.
Always ask the salesman to explain what all comes in the mandatory fitting. If it is some extra fittings which come apart from the manufacturer, you can avoid these fittings and save some money on it.
See the mandatory fitting list to see if it is required.
This is something you can’t avoid. Normally they charge 10% of the ex-showroom price and more than 10% on luxury vehicles.
This is where you save most of the money when you buy a new vehicle. Insurance is a mandatory thing for any vehicle which you cannot avoid. But you can save money if you choose the right insurance package in the open market.
Insurance package offered from dealers point is always 30% more than the normal price.
So you save huge money if you choose an insurance package outside or buy an insurance package online.
Registration fees is nothing but the RTO charges which include your RC book charges , number plate charge , agent commission and logistics charges.
You can save money on this if you are ready to toil yourself to register the vehicle yourself in the RTO.
Most of us would forego this because we normally avoid the government procedure and spend few bugs to have a hassle-free process. But if you ready to toil yourself will save 1-2% of your car price.
There is a special discount if you are paying the full amount in advance. You can save up to 2% of the total sale value if you purchase with full payment with no loan.
February to March are the best months to buy you favorite car with lots of discounts, all the companies will try to sell their year end stock in order to get the fresh stock. So plan your buy during year end and save a lot .
You can also avail a huge discount from dealers on vehicles with the old manufactured date, with old versions, and also with non-moving colors.
Save a huge money on vehicle models which are unsold for months in spite of its new conditions.
Always ask the dealers if there are any vehicles put on sale on these parameters.
