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How to Pay Less on Your Next Car?

Use Fixed Deposits to Get a Car Loan in HyderabadCar is always a dream purchase for many India. Though it has now become a necessity for the Indian families to own a car, it remains second expensive purchase after home. Not everybody will be in a position to afford to buy a car in spite of their necessity. Many people today are unable to make a choice between affordability and necessity. While affordability makes you choose one car necessity wants you to go for the other. This is the juncture where you start thinking about “Tips to pay less on the next car. “

Used car

When necessity dominates that affordability in buying the car, going for a used car becomes your choice tom enjoy the comforts of the car without hurting your affordability. If you are keen on buying executive sedan car, wait for two years post its launch. This time period not only helps you know flaws and features of the car but also save thousands of rupees on car purchase.  You will get the can car at 20% less of the actual price, there ample number of lenders offering the loans for pre-owned cars.

 Short tenure

Nothing other than the short tenure of the car loan will benefit you when you want to pay less on your next car. When the tenure of the loan is less, high will be the EMI. It is wise to make a large down payment and choose high EMI option if you want pay less because longer terms with short EMIs will extend the payment period beyond the depreciation value.  If you don’t hurry up in paying the payments, the value of your car may depreciate and even reach 10% of the loan. A rational way is to pay high EMI on car loan and save a good deal of money.

Purchase at right time

Do you know that purchasing your dream car with the help of the car finance at anytime is not right? I mean to say, you should wait for the right time to hit the deal if you are really focused on saving few bucks on your next car purchase. India is a country of festivals, there will be good offers from the car dealers in country during these festive seasons. Never miss to hit this opportunity to end up in a affordable sale. If you are still patient enough looking to save a major chuck on your next purchase, wait for 31st December to grab the biggest deal of the year.

Pay with green   

All of us would wish to purchase a car with spot cash. Though cash is a king , it is not going to get you any additional benefits on car purchase. Dealers make a lot of income in car finance sales and insurance. Buying the desired car with the help of the car loan may get you good deal.

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