Buying a vehicle is a big decision for most individuals in India that requires careful planning and timing. The dealers and companies offer a lot of festive discounts, year-end deals, and monsoon offers, which could help save money. So, if someone is looking to buy the latest model of a vehicle, or considering getting a used one, here’s a guide to know what time is the best to buy them.
At The End Of The Financial Year (March)
In India, the financial year ends in March, which makes it ideal for someone to buy a vehicle, especially if they’re running a business. Commercial vehicles, heavy trucks, or even cars could be bought during this period as they could be written off as a business expense to save taxes.
Apart from that, even vehicle sellers want to ensure that their targets are met, thus increasing the chances of one getting a better deal. Many manufacturers launch new models of vehicles after the end of the financial year. To make space for these new models, prices may be dropped for the older models.
(Pro tip: It is recommended to buy any vehicle when the month-end is close by, as the dealerships would want to close the deal as soon as possible to meet the sales target.)
Festive Season (October-December)
The festive season begins in India in October and goes on till December. During this period, even the manufacturers pull up their socks as they need to beat their competitors with better offers.
Car dealers and manufacturers often team up with lending institutions to offer the best possible services. Right from loans to servicing to insurance, they take care of many things. During the festive season, they also offer attractive deals and packages that are beneficial for everyone. Dealerships try to clear out the stock before the year ends, so there are higher chances of getting good deals on the vehicles during this period.
New Model Launches (April-July)
Many automobile manufacturers tend to introduce new vehicles in the market at lower prices. Such discounts are only available for the first few hundred units, and vehicle prices are increased after the sale of the initial units. Apart from this, dealerships also try to clear the existing stock, which helps one get great deals on outgoing models.
Monsoon Season (June-August)
It may not be the most obvious time to buy a vehicle, but monsoon season typically notices a low footfall in the dealership stores. To woo the consumer, these dealers launch exciting and attractive deals for purchase.
Best Time to Buy a Used Vehicle
The best time to buy a used vehicle is during the holiday and festive season, when a lot of owners would be looking to upgrade their vehicles. This results in an influx of many old/used vehicles in the market, making it an ideal time to buy.
During the festive season, reseller websites tend to give exclusive deals, which could help save money. One is likely to get a good used vehicle at a competitive price if they buy during these periods. Just ensure that the vehicle has been insured properly, and all required documentation is in place.
Summing Up
When it comes to finding the best time to buy a vehicle, it depends a lot on the buyer and their financial situation. By knowing all the possible options, one can make sound decisions without any rush. Buying a vehicle in India is a big investment, and by waiting for the perfect opportunity to get the best possible deals, one can save a lot of money that could be used for other expenses on the vehicle.
FAQs
Which is the Best Month to Buy a Vehicle in India?
It’s recommended to buy a vehicle in India during the festive and end-of-the-year sales October to December), as one could get huge discounts on them. Apart from that, the sellers would like to clear out the current year’s inventory to introduce new models for the new year, thus providing an added incentive/s to buyers.
When is the Best Time to Buy a Used Vehicle?
The best time to buy a used vehicle is when the month-end is close. The dealer would like to close the deal as soon as possible, which may give the buyer an additional advantage. Or during the holiday season, when a lot of vehicle owners would like to sell them for an upgrade.
Will I Get Discount Offers on a Vehicle That is Just Launched?
The manufacturing company takes this call. If they want to launch a new vehicle, the initial prices may be set a little lower than usual to get in the customers and create a buzz around the product. In most cases, these prices are set for a limited period, and after the sales rise, their prices rise too along with it.