If you ask any guy – “Do you have a dream car?”, they would definitely answer in the affirmative. While what we want as features in our car may change over the course of time, but the desire to own our dream vehicle remains the same throughout. The improving financial conditions in the country have now made it possible to convert these dreams into reality for almost everybody and you can get the car you like without much hassle. However, buying a dream car is not as simple as just going to a dealer, paying the money and then driving off into the sunset with your loved ones. There are many traps that you need to look out for while purchasing your dream car and here are the top 5 ones that you must definitely watch out for –
Five Lies You Must Watch For Before Buying Your Dream Car!
1. “The price of the car cannot be negotiated.”
Usually, when you go to buy a car, the dealer provides you with two price quotes- the ex-showroom price and the on-road price. While the ex-showroom price is the price that the dealer pays to the manufacturer, the on-road price is what you pay to the dealer. On road, prices are higher than ex-showroom prices due to additional charges incurred from taxes, insurance, warehousing and transportation cost etc. A general misconception is that, the dealer does not determine the on-road price. However, apart from taxes and car insurance charges, all the other charges are dealer-imposed with the objective of earning profit by considerable margin. These charges can be negotiated over with the dealer to get a far lower price.
2. “Trade in your previous car with us and you don’t have to pay anymore of its EMIs ”
Trading in the previous car does not mean that you are released from its liabilities. You are still liable to pay the EMIs and if the dealer does not pay them, the bank will approach you for payment. Therefore, you need to analyze the trade-in policy in detail before buying the new car. Otherwise, you may land up with additional EMI payment of the new car and may have to cough up more money than you bargained for.
3. “This is the best you can get anywhere for the car you are trading in. ”
Before going for a trade in of your previous car research and collect all facts regarding its resale value and conditions. Many dealers tend to offer lower prices than the actual market value of the cars. They also use psychological techniques like pointing flaws in your old cars, etc. to make you think that what they are offering is quite generous. If you do not know the exact value, you will likely take up the offer and thus lose out on the best deal you can have.
4. “The terms we offer in the dealer’s warranty are better than that offered by the standard manufacturer warranty”
While the extended warranty may offer, you more free services than standard manufacturer warranty that does not mean it is better than the standard manufacturer warranty. You should carefully read the conditions and clauses of the warranty papers. Many times, dealers put in servicing periods at smaller intervals and, even in supposedly free services, include costs such as labour charges.
5. “This deal is valid for a limited period only ”
One of the most commonly used tricks; dealers say this to create a sense of urgency so that you do not have time to look up other dealers and their offers. Barring exceptional circumstances, you get the same deal whenever you may return. Therefore, you should research the offers of different dealers prior to visiting the showroom because the first dealer you approach might not be the one offering the lowest on-road price and each dealer will try to convince you that their deal is the best one.
Driving your dream car can be quite thrilling. However, that thrill should not come at the expense of safety. You never know when things can take an unfortunate turn, thus putting your life as well as your property may be at risk. Driving responsibly and having safety measures in place like insuring yourself go a long way in helping you manage these unprecedented situations and having a great driving experience.