These Tips Can Save You Lakhs On Your Next Car! » MotorOctane

Buying a new car is the biggest decision for any middle-class family and is also termed a milestone in their life. But there are some methods through which we can save more than Rs 1 lakh on the vehicle without compromising on the one you want. We will now delve into how you can do that.
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1. Buy a Previous Year Model – How To Save Money On New Car

One of the easiest ways to save money is to opt for a previous-year model, as dealers offer heavy discounts to clear their stock. So you can easily save around 1 lakh rupees on the same car with the same features and performance; the only thing is that the vehicle is a previous-year model.

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2. Negotiate With Dealers And Avoid Add-Ons

When you get a quote for your vehicle, never settle with your first quote; visit multiple dealerships of the same brand and use those quotes as it creates competition among themselves and can easily save you Rs 20-50 thousand.

Also, do not just negotiate on price; negotiate on benefits like free accessories and extended warranties, because dealers often add extended warranties, coating and protection plans, and accessories that significantly increase your vehicle’s cost. You can save on accessories by buying them at a lower cost in the local market. However, some automakers offer base variants that are loaded with features, like the Seltos and XUV7XO.

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3. Get Insurance Yourself – How To Save Money On New Car

You can now buy insurance online and save up to 50% by comparing many other policies based on your coverage and add-ons. Now you can buy that policy on your own, check all available options, and choose the one that suits you, because sometimes other insurance companies offer insurance at a cheaper cost.

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4. Claim TCS While Filing ITR

Many buyers ignore TCS (Tax Collected at Source), which is 1% value of your vehicle priced above 10 lakh rupees. But many of them forget to claim that amount. So, you can claim it while filing your income tax return. Not claiming it means losing your own money unnecessarily.

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5. Purchase During Festive or Year-End Sales – How To Save Money On New Car

Timing matters a lot when you are buying a vehicle, because that’s when you can get the maximum discounts, exchange bonuses, and free accessories. So try to buy during festive seasons like Diwali, Navratri, and Year-end (December) or the financial year-end (March). That’s when targets are on their heads, and to achieve them, they offer massive discounts on their vehicles.

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