Best Insurance Offers: 6 Tips to Buy a Car This Festive Season

The festive season may be the best time to purchase a new car, as dealers and car brands offer attractive discounts, including the best insurance offers. For example, Tata Motors is offering benefits of up to ₹2.25 lakh, including a ₹1 lakh loyalty benefit and 1 year of free insurance for the Tata Harrier EV model during Onam.

However, choosing the right car with insurance deals and offers can be overwhelming. Explore this article for tips on buying a new car during the festive season. These include choosing the right model, structuring a budget, and more.

What are the 6 Tips to Buy a Car During the Festive Season?

Purchasing a car is exciting, especially during the festive season, as it adds another bundle of joy. Find out how to choose the best car during the festive season below:

1. Finalise a Budget

A structured budget is essential to protect your financial stability because the festive season brings extra expenses. However, keep in mind that the purchase price is not enough. You must also account for maintenance and fuel costs.

1. Determine a comfortable EMI amount by assessing your monthly savings.
2. Always consider on-road costs instead of the ex-showroom price, as it adds some extra bucks.
3. Your dealer may push to upgrade the chosen model, but stick to your limit.
4. Keep your down payment handy, as festive booking does not last longer.

2. Choosing the Right Model

Dealers and brands bring new launches and special editions during the festive season. Do not lose focus and ignore your personal requirements for lucrative offers. Consider the driving environment, parking space, and family size. Prioritise cabin comfort over temporary accessories.

1. List your personal requirements regarding the seating capacity, family size, and cargo space.
2. Conduct thorough research on the safety ratings of the chosen models.
3. Book a test drive during peak traffic to judge real-world conditions.
4. Check expert reviews online and consider opinions of real-life users.

3. Choosing the Fuel Type

The choice of fuel type dramatically impacts the ownership cost as well as the resale value of a car. A high-mileage car may demand diesel or hybrids, while daily city commutes suit petrol. You may choose electric vehicles if you have charging infrastructure. However, for hybrid or electric vehicles (EVs), consider the best insurance offers during festive seasons.

1. Petrol cars are more expensive than diesel cars, so choose wisely.
2. Check local fuel availability and infrastructure.
3. Compare the maintenance costs for the long term.
4. EV and Hybrid cars usually have more resale value.

4. Looking for Festive Deals

Dealers often offer cashbacks, corporate benefits, exchange bonuses, best insurance offers and more during the festive season. You must consider multiple dealerships before purchasing your new car to compare offers. Leverage the competitive quotes and negotiate for superior deals.

1. Always analyse the discount breakdown, avoiding promotional packages.
2. Instead of accessories and add-ons, look for cash discounts.
3. You may opt for extensive warranties or insurance discounts.
4. Negotiate on handling charges and do not hesitate to show the competitive price for multiple dealers.

5. Applying for a Car Loan

Car loans during the festive season often offer flexibility in repayment terms and conditions, reducing processing fees, offering low interest rates, and more. Always get a pre-approved loan when negotiating with dealership financiers.

1. Check your credit score and secure the lowest interest rate.
2. Instead of the dealer's finance partner, go for offers from banks or non-banking financial institutions.
3. Adjust your EMI and shorten the tenure to reduce the total interest paid.
4. Compare multiple loan providers and choose a competitive price.

6. Choosing a Reliable Insurer

According to the Motor Vehicles Act, 1988, car insurance, at least third-party insurance, is mandatory in India. Dealerships may be tied to their insurance partners, providing the best insurance offers. However, compare policies independently online to find zero-depreciation coverage, engine protection, and return-to-invoice add-ons.

1. Avoid out-of-pocket repair costs with zero-depreciation add-ons from a reliable car insurer.
2. Verify the insurer’s claim settlement ratio before choosing.
3. Transfer your No Claim Bonus from your old car (if applicable) to save money.
4. Compare deals with your chosen company and dealership-tied companies for discounted insurance policies.

Final Thought

Buying a new car in the festive season comes with lucrative offers such as cashbacks, exchange offers, and insurance deals like free insurance for the first year, low premiums, or add-ons. However, never rely on dealership promotions only. Compare and contrast your personal requirements and finances.

However, purchasing a car comes with maintenance costs and mandatory insurance. Never rely completely on car dealers’ insurers, as there can be hidden terms and conditions.

Contact Bajaj General Insurance for superior car insurance with multiple affordable add-ons.

FAQs

Should I choose the car or the insurance first?

You must select the car model first, as the insurance offers and premiums depend on the car model.

Is it mandatory to buy insurance from the car dealer?

No. It is optional. You can choose your insurer independently.

Are add-ons necessary for a brand-new festive car?

No. However, consider zero-depreciation and engine protection add-ons for better maintenance.

**Standard T&C apply

Disclaimer: Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to change. Please consult an expert before making any related decisions.