NEWS & ADVICE : CAR LOANS
TIPS FOR ASPIRING CAR BUYERS AND OWNERS
By Vaibhav Aggarwal
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Think of resale value before buying a car

The next important aspect of owning a car is to think of its resale value. Most consumers change their car in 3-5 years. Hence, before buying their car they should think of the resale value of that car after that period of time. The choice of a car which gives a high return isn’t very difficult, as the car market is crowded, and a few machines which offer high re-sale value stand out easily. "Many customers buy car on high discounts and rebates. It is an immature decision to fall in these traps and repent afterwards. A strong brand gives full returns and the customer is the winner all the way," said Jnaeshwar Sen, Honda's senior VP sales and marketing.

Hence, experts feel its better to think of its resale value, before buying it. Also, a marginally higher investment today will lead to better returns and residual value and will be a better bet than a cheaper priced car.

Proper Driving Style is very important

This is one tip which is not difficult to adopt, yet is not followed as commonly as one would expect it to be. Proper driving style might not give you any monetary benefit, but it certainly adds to the life and to the resale value of the car. It also reduces the servicing costs of the car, which is the next important aspect of driving.

Companies are at work in trying to develop a new format where ideal fuel options and optimum driving style will save at least 25% of the fuel cost. "You can drive up to two extra kilometre for every litre of petrol and three kilometres for diesel vehicles. While customers are ignorant of the benefits, we have found that on the average running of 20,000 kilometres per year, customers could save up to Rs 15,000 by proper driving habits, which is equal to a EMI of a mid-segment car like Optra," said a senior General Motors executive. Hence, in a nutshell, this means that you should drive in the right gear, your braking style should be right as well you should service your car on time.


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