Diwali, a time of joy and new beginnings, is also a popular period for car purchases in India. To capitalize on this festive season, car manufacturers roll out attractive offers and discounts. If you’re in the market for a new car this Diwali, knowing a few smart strategies can help you save a considerable amount.
Maximize Festive Offers
During Diwali, numerous car manufacturers offer a range of incentives, including cash discounts, exchange bonuses, and loyalty bonuses. Many brands sweeten the deal with free accessory packages or service benefits. By leveraging these offers, buyers can potentially save between ₹20,000 and ₹1 lakh.
Compare Online and Offline Prices
Online platforms and e-commerce sites often feature car purchase deals that can be more competitive than those offered at dealerships. It’s important to check both online and offline prices before making a final decision.
Get a Good Exchange Price for Your Old Car
If you have an existing car, consider exchanging it when purchasing a new one. Companies typically provide enhanced exchange bonuses during the Diwali season. This can result in significant savings, as you get a better valuation for your old vehicle.
Consider Loan and Financing Options Carefully
Most car buyers utilize auto loans. Banks and NBFCs usually offer loans at reduced interest rates during Diwali. Additionally, options like zero processing fees and no-EMI periods are frequently available. By comparing offers from various banks, buyers can potentially save thousands on interest charges over the loan’s duration.
Negotiate with the Dealer
Although festive offers are generally pre-set, negotiating with the dealer can unlock additional savings. Possible benefits could include free car accessories, complimentary insurance, or extended service packages. Strategic negotiation can help you maximize your savings.
Capitalize on Year-End Stock Clearance
Following Diwali, as the year winds down, dealerships aim to clear out older stock. Cars from the 2024 model year might be available at heavily discounted prices, even though the model itself remains the same. This can lead to considerable savings.
Book at the Optimal Time
Early bookings, made before Diwali, can often unlock more advantageous offers. Manufacturers frequently offer special incentives for early customers. Furthermore, timely booking can ensure timely delivery and potentially provide price benefits.