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Tata Capital > Blog > Loan for Vehicle > Should You Buy a New Car This Year End?

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Should You Buy a New Car This Year End?

Should You Buy a New Car This Year End?

Is December a good time to buy a car? Absolutely! You should consider purchasing a new car at the end of this year. Doing this will expose you to some of the best bargains and discounts automotive dealers award.

You may think that purchasing a vehicle in December might reduce its resale value. After all, it will be considered a year older at the time of selling. Meaning, if you purchase a vehicle at the brink of December 2021 and sell it in 2025, your car will be considered 4 years old, when technically it is almost 3 years old.

But, you'll more than make up for any loss in resale value at the very time of purchasing it. How? Let's find out.

Additional Read - When is the Best Time to Buy a Used Car?

Are year-end discounts on cars worth it?

100% they are! Not only can you expect substantial cash discounts, but you can bring down the price further by bargaining with your dealer. Know that dealers are eager to move their existing stock and replace it with newer models. Not to mention, they also have sales targets to meet.

Use these arguments to get a reasonable bargain price, over and above the discount they already offer.

In addition to significant price reduction, you can also earn several free car accessories like an inbuilt navigation system, upgraded infotainment system, floor mats, and others, which are usually not a part of the standard deal. So, remember to zero in on the final accessories before signing on the dotted line.

Moreover, if you make the year-end sales, you can also get a discount on insurance, or better yet, get insurance for free. You can also bargain for extended warranties at discounted rates in some cases.

Know that you hold all the chips when you go car shopping in December. The kind of deals you become entitled to this time of year doesn't apply otherwise.

How to go about buying a car in December?

First and foremost, you must determine which model you wish to buy. After which, if you're okay, select a model that has a new variant or facelift model coming in 2022. This way, the dealer will be more susceptible to giving you a higher discount.

The only downside here can be that the dealer might have limited colour options as these cars would be the last of the year's stock. But, more often than not, you'll get widely loved colours like white, silver, etc.

Additional Read - Why Do Most People Consider a Used Car as their First Car?

The bottom line

Discounts on cars in December don’t only apply to new vehicles, but also second-hand ones. In fact, year-end is a great time to purchase top second-hand luxury models at great prices. You can take a used-car loan with the right lending institution to finance them.

Looking for a credible lender to close a car deal this year? Turn to Tata Capital! We offer vehicle loans at affordable used-car loan interest rates. You can apply online with us with minimal documentation and flexible repayment tenures.

So, why wait? Start your application today! 

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