Looking for car finance? Research first

Once you’ve determined a budget for your car, don’t just head to the showroom straightaway and book your car impulsively. Prudence dictates that you must do a little research about the car and if there are any deals or special finance options running on that model or a competing car. Fortunately, the Internet has made this job a lot easier. 

To begin with, compare prices online. Don’t be led by what a dealer tells you. Manufacturers frequently offer discounts and incentives on certain models. Look up newspapers to see if there are festive discounts available on your car. Sometimes car companies also waive off the insurance and registration fee. In some cases, you also get a year’s worth of free fuel! Imagine the amount of savings. Visit the manufacturer website to get a price listing across various cities. You can also look up the pricing on ZigWheels’ New Car section, which has a variant-wise break-up of prices. 

If you’re buying your car on loan, remember car loans vary from one bank to the other though they usually range from 10.5 per cent to as much as 17 per cent depending on the duration of the loan. Websites such as rupeetalk.com let you compare interest rates online and determine which financial institution is offering the best deal. You can also use tools such as an online EMI calculator to work out the math on how much you’d have to shell out each month in repaying a car loan.