Owning a car is such an important milestone in people’s lives. It gives a sense of achievement and can be a symbol of status. You should research a lot before deciding the car make/model. Several factors influence the pricing of a vehicle, and the timing of the purchase is one such factor. Are you planning to buy a car and wondering which is the best time to buy a car in India? Then you are at the right place. Read on to find out which is the best time to purchase a new vehicle.
Best Time to Buy a Car in India
If you are buying a car for the very first time, you may end up conducting a lot of research to figure out which car brand/model/variant to buy. Also, choosing the right dealership is a challenge. Above all these, getting the best price for the car you are going to purchase is crucial. So, let’s glance through some of the best times to buy a car in India.
- End of the Month
It is better to purchase the car by the end of the month. The car dealerships might be looking to reach the monthly sales quota by month-end, and the possibilities of getting a good deal are high. The car dealer might offer you a very good price in an attempt to get the sales done.
- End of the Year
Year-end or months from October to December is a good period to buy a new car. It is observed that, at the end of the year, car showrooms will be clearing the stocks of outgoing models. Also, this period coincides with a lot of festivals. So, you can expect attractive prices and discount offers on outgoing models as the dealerships will start receiving new models. Hence, you can save a lot of money if you are purchasing a car at the end of the year.
- Start of the Week
Car showrooms will be at their peak of operations during weekends. So, it is recommended to visit the car dealerships at the beginning of the week to get the best possible deals on the car you are looking to buy. Also, there will be fewer customers on weekdays, and you will get better attention and probably specialised discounts!
- Seasonal Discounts
Planning to buy a car during special occasions such as festivals may save you quite a lot of money. Car manufacturers and dealerships will come up with irresistible deals during special occasions such as Independence Day, Diwali, etc. On the downside, the waiting period for new cars may increase during this period due to the high demand and attractive pricing.
- In the Month of March
If you are a businessman/businesswoman, then March is the best month or time to buy your dream car. For the uninitiated, you can save tax by purchasing a car in March as the cost of the vehicle can be considered a business expense. Car manufacturers and dealers also come up with exciting discount offers to lure such buyers.
- New Year
Car manufacturers start offering discounts in December, and it lasts till January. Usually, customers want to purchase the vehicles manufactured in the new year. But to clear the stocks, most carmakers and dealers offer attractive discounts on vehicles manufactured in the current year. To boost the sales of the outgoing models, carmakers also tend to increase the prices of the new models manufactured in January. For example, a car is about to get an update for the New Year, and the manufacturer wants to clear the stocks of the existing model. So, there might be heavy discounts on the current model in December. When the new model launches in January, the new model might get a price hike in an attempt to clear out the existing stocks.
- Just after the Car is Launched
Usually, many carmakers offer introductory prices on newly launched vehicles. The special discount on new models remains valid for the first few hundred/thousand units. When the sales start to pick up, the prices will go up. But this type of special pricing does not apply to all cars as not all manufacturers offer introductory pricing. So, it’s a 50-50 chance of getting such deals.
- Just before an Update/Facelift
Manufacturers keep rolling updates and launching facelifts during the life-cycle of a vehicle. Before the introduction of a facelift, car showrooms offer discounts to clear the stocks. It is the best time to get good offers and discounts. Usually, facelifted models come with minor tweaks to the interior and exterior and some new features. So, if you are okay with missing out on some new features and intend to keep the vehicle for a long time, it is a good time to buy a car.
- After the Launch of a Special-Edition Model
Car markers usually launch special editions of their vehicles, with subtle updates and additional accessories. The special-edition models will be identical to the standard model in terms of specs and features. Such models are usually priced identical to the standard variant. So, if you are planning to accessorise your car, then going for such variants makes sense as it offers a good value for money.
- Before the Price Hike
As mentioned earlier, carmakers increase the prices of their vehicles during the start of a new year. The price hike usually ranges between 2% to 3%. So, sometimes it is not beneficial to wait for the new year to purchase a car. Hence, you can buy a car before the price hike hits, that is, by December end.
Buying a Car in December
December is the busiest month for the car manufacturers and dealerships as they try to clear out the stocks before the start of the new year. So, it is the best month to buy a car in India as you can get attractive discount offers. Below are the benefits and drawbacks of buying a car in December.
How much discount can you expect?
The discount offers vary from manufacturer to manufacture, and it also depends on the car model. You can expect a discount of a few thousand rupees to a few lakhs. If the car is a slow-seller in the market, the discount can go up.
Apart from the discount on the price, you can also get additional benefits when buying a car in December. The dealerships may also offer additional benefits such as free car insurance, extended warranty and accessories at a discounted price or even free of cost.
Drawbacks of year-end car purchase
December brings a host of discount offers on cars, but it has its disadvantages. When you purchase a vehicle in December, the manufacturing year of the model might make your car look a year older. For example, if the car is manufactured in 2020, in January 2021, it will be considered a year old car, and it might hamper the resale value of the vehicle. Also, discount offers are generally offered on such models that are not so successful in the market. So, you might have to compromise with a not-so-popular model.
Best Time to Buy a Used Car
Used car market works differently than new car dealerships. So, there is no specific time which is considered as best. There might be several reasons for a car to be sold in a used car market. So, technically, anytime is the best time to purchase a second-hand car. But still, you can consider the below points as the best time to own a used car.
During the September-October festive season when most car owners are planning to buy a new car.
December, when car owners are planning to upgrade their car.
Purchasing a used car at the times mentioned above can be beneficial as you may get a good deal as the seller might be pushing for the deal to be settled quickly. So, you can use your bargaining skills to get a very good price.
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Buying a Car for the First Time? Here are some Tips
Buying a new car is an important milestone, and it is also one of the most tricky tasks. The job becomes even difficult if it is your first time buying a car. Purchasing a vehicle is a major investment, and you can’t afford to go wrong with it. To make your job easier, here are some car buying tips.
Fix your budget before beginning your research.
Finalise on what type of car you want to buy.
Understand your requirement and choose the variant (petrol or diesel).
Plan the purchase timing (festive season, year-end, new year, etc.).
Choose the right car dealership.
Take a test drive to understand the car.
Determine the maintenance cost of the car.