With low-interest rates on loans and attractive offers on vehicles, this may be the month you gave yourself a great set of wheels.
As the holiday season kicks in, savings accrued through the year will be splurged on year-end luxuries, be it a long-awaited vacation or that dream vehicle you’ve been eyeing for a while now. And while there is ideally no right time to buy your dream car, waiting for the holiday season to make the splurge, can be beneficial.
Let’s find out why December is your best bet for availing attractive car offers.
Most auto manufacturers who plan to unveil a new model of the same car, tend to do it towards the end of the year so the retail sales can kick off by the New Year. This forces dealers to offer heavy discounts on current year’s models still lying in their inventory.
Hence, if you are looking for a good price but are okay to buy an old model of your favourite car, then December should be your target month for purchase. A word of advice would be to assess the features of both the old and the new model along with their prices and make a well-informed purchase.
As dealers have their monthly and quarterly targets to achieve, year-end targets are as crucial to them. Many of them may take a sizeable cut in their commission and give the customer the benefit in order to sell more units during this time of the year. This helps dealers make up for any targets they may have missed through the year.
Besides, dealers too are in the holiday mood and would look to wrap up their sales quickly, pocket their bonus and go home as early as possible. Hence, the season is perfect to showcase your bargaining skills when shopping for a car.
Holiday Offers Galore
Festive offers have always been popular among car buyers, and the end of the year is no different. With Christmas and New Year around the corner, automakers offer huge deals and blowout sales to lure customers. Discounts and offers are at their peak during this season. While some may offer a direct discount on the price of the vehicle, most offer freebies along with your purchase, like car accessories and products. Always make sure to check the breakdown of prices as well as the final price being offer after taxes to ensure you get a good deal.
Loans and Interest Rates
Car Loans have become one of the most accessible credit disbursement tools in recent times, with many private banks offering as much as 90% of the on-road price of the car. During the holiday season, some banks take it a notch higher, by offering even more attractive interest rates for car loans. Hence, if you are looking to finance your dream car, it’s best to go for loans in December where the interest rates may suit your pocket.
Although online platforms can never give you the experience of getting the feel of the car before buying it, it’s the trend to offer lucrative deals and discounts via the online medium. These offers often come up with warranty or money-back policy and offer the best packages and incentives during holidays when customers generally have money to splurge. Purchasing a car online cuts the several middlemen out of the offline sale chain and can thus save you more money than buying it in the showroom during holidays in December.
So make this December memorable, by bringing your dream car home and availing these festive offers and discounts.
Note: BankBazaar.com is a leading online marketplace in India that helps consumers compare and apply for Credit Card, Personal Loan, Home Loan, Car Loan, and insurance.