Purchasing a used car has many advantages! They cost considerably less than new cars, and you are not as affected by the depreciation of the car value. However, did you know you can save up even more by buying the car at the right time? Read on to find out the best time to buy used cars.
When a quarter or year ends
Ask any sales professional, and they will tell you; a large percentage of sales happen at the end of a quarter and year. These dates include the last week of March, June, September, and December.
Showrooms and dealerships have designated targets, which they need to reach before the deadline. As such, quarter and year ends are some of the best times to purchase a preowned vehicle. Since the sales team is eager to meet their target, they usually offer additional discounts on used-car purchases. And in such cases, you also have the upper hand and can negotiate a better deal for yourself.
When newer models are launched
If you are one of those people who wait for the new smartphone models to launch, so the older model’s price comes down – you should know that the same trick works for cars as well! During new launches, people often trade in their older models for a new vehicle. With a flush of traded-in cars, dealers are more willing to part with their pre-owned vehicles for a lesser price.
Additional Read: Most popular used car models in India
During the sales season
Dealers and showrooms offer many sales and discounts, especially during major festivals. Shopping for a pre-owned vehicle during these sales will save you a ton of money. These offers include a free extended warranty, free accessories, and upgrades, as well as an overall reduced price.
However, you must take these sale signs with a grain of salt! They may contain some hidden costs or additional charges. Be sure to enquire about the same before you finalise the vehicle purchase.
When you are financially secure
This might sound obvious, but while buying a pre-owned vehicle over a new one will cost you relatively less, it is still a substantial investment. Preparing ahead of time will ensure you don’t have to struggle with your monthly expenses.
You can also consider taking a used car loan if you are short on funds. Most lenders nowadays rely on relaxed used car loan eligibility criteria to provide a loan. Moreover, you can even plan out your loan tenure using a used car loan calculator.
Additional Read: 4 things to keep in mind before you buy a second-hand car on loan
Purchasing a pre-owned vehicle during the sales season or towards quarter/year ends will help you get considerable discounts. But sorting out your finance options before buying your preowned car can save you a lot of trouble in the future.
We, at Tata Capital, can offer you a used car loan to make a smart and value-for-money purchase. We offer quick processing, easy documentation, and competitive used car loan interest rates. Get a loan of up to Rs. 50 lakhs with flexible tenure and EMI options you can repay according to your convenience. So, wait no more and contact us today!