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Calculating car ownership costs and resale value before buying
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Buying a car is just one task. However, considering the ownership cost, after sales service and resale value will make a difference in your car buying decision. Here's how
Taking into account ownership cost, after sales service and resale value while buying a car, makes quite a difference while purchasing a new car. Wear and tear calculations should also be considered. Firstly, what one must consider is how much would be the ownership/running cost. If a daily run is more than 100 kilometres within the city, considering a CNG or diesel option is better than petrol. At the same time, also bear in mind that a diesel will be dearer by another Rs 1 lakh for the petrol version of the same model.
Also, check the after sales service cost under regular maintenance. A diesel vehicle is bound to incur a higher maintenance cost than petrol albeit the running cost of a diesel vehicle compared to its petrol counterpart is much lower, provided you travel for long distances daily. So, calculate which type of fuel would suit you better. For cars not having options of a diesel engine, it is best to look into CNG and LPG as alternatives. This will save you a considerable amount.
Looking at the resale value of a brand would also fetch you a decent amount. It is a safe practice to go for a reliable brand than to go in with a new one. However, at the same time, one can look at reviews of vehicles and consider buying a car from an upcoming brand. The idea is to get your calculation right, before you buy a car.
Overall, what must be considered the first is setting up your budget, researching and then looking at the ownership, after sales and resale costs.
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