The festive season of Diwali is considered auspicious for new purchases in India, including automobiles. Car companies use this opportunity to attract customers with various offers and discounts. For those planning to buy a new car this Diwali, here’s how to optimize your savings.
Leverage Festive Promotions
During Diwali, car manufacturers typically offer a variety of deals such as cash discounts, exchange bonuses, and loyalty benefits. Some also include free accessories or service packages. Customers can potentially save between ₹20,000 to ₹1 lakh by utilizing these offers.
Compare Pricing Across Platforms
Online platforms and e-commerce sites often provide competitive pricing on car purchases. It’s recommended to compare prices across online and offline channels before making a purchase.
Maximize Your Old Car’s Trade-in Value
When buying a new car, consider exchanging your old vehicle. Diwali often brings better exchange bonuses than other times of the year. This can provide additional savings by ensuring a fair value for your used car.
Explore Financing Options
Most car buyers rely on auto loans. During Diwali, banks and NBFCs frequently offer lower interest rates. Look out for options like zero processing fees and no-EMI periods. Comparing offers from multiple lenders can save you thousands on interest payments over the loan term.
Don’t Hesitate to Negotiate with the Dealer
While festive offers are generally set, negotiating with the dealer can unlock further savings. This could include free accessories, complimentary insurance, or other service benefits. Effective negotiation can lead to greater cost savings.
Consider Year-End Clearances
After Diwali, as the year concludes, dealers aim to clear older stock. Vehicles from the 2024 model year may be available at significant discounts. While the model itself remains unchanged, the price can be substantially lower.
Book at the Right Time
Booking your car early, before Diwali, can sometimes result in better deals. Companies may offer special benefits for early buyers. Booking at the right time also helps ensure timely delivery and potential price advantages.