DriveBlog

Ain't that the truth!

Caught in the middle

Ouch! It hurts to be a car dealer at the moment. In an effort to pass on a larger benefit to the end-consumer, banks are on the verge of cutting interest rates on car loan deals. Trapped in between are the car dealerships who will consequently see their own margins slashed by almost a third.

Dances with wolves

For me, one of the more interesting aspects of the car-buying process has surprisingly been the series of exchanges I've had with representatives of various banks and similar other hungry-for-your-money financial insititutions. Initially something that I was rather wary about, you start enjoying yourself when you realise, that with just a little patience and some good acting, you can swing the deal just the way you want it. And it gets even better when you have multiple options to choose from. Competition is cut-throat, the undercutting is fierce, company loyalty is a sham and in most cases, the customer does end up having the last word . In short, it's everything you would want from a car loan.

But it's also vital that you keep a cool, clear head when you're negotiating a car finance deal and here, therefore, are some tips to help you get the best (or close to that, atleast) deal on your shiny new set of wheels.

Laughing gas

"...unscrew unwanted things from your vehicle and sell them off to pay for fuel. For instance, you can start with (the) rear-view mirror, headlight and so on. Think (hard) if you need the mudguard."

Well, atleast someone's seeing a lighter side to the recent fuel and LPG price hikes. =)

Fuels and their money

Funnily enough, there are a few who see the bright side to the recent petrol price hikes. The pundits predict that the spike bodes well for diesel-powered and smaller, more fuel efficient A and B-segment cars.

Car loan groan

Speed up that decision on the new car if you can. Interest rates on auto loans are expected to go up by a quarter to a half percent over the next month or so.

Update: Come Diwali, and that car loan that you got at 8% will be a blast from the past. (Couldn't resist that one!)

Win Diesel!

A diesel-run automobile isn't necessarily the maintenance-mad, money-hungry monster that urban legend makes it out to be. Here's someone of the opinion that all else being equal, a diesel car scores over its petrol cousin in the same category.

The truth in instalments

There are two ways in which EMIs on your car loan can be worked out - in advance or in arrears. An advance instalment falls due at the beginning of the month while an arrears instalment comes up for payment at the end of every month. Between the two, for a given interest rate, an advance EMI works out lower.

Here are some more factors to keep in mind when choosing a car financing option.

Of fuels & fuelish decisions

If you're in the market for a car, but are bothered by the skyrocketing prices of petrol (unless you believe stories like this), you might want to consider some of these as alternative options.

Is it all about the money, honey?

Why does the average Indian choose fuel economy as the only parameter by which a car can be termed 'good' or 'bad'? Shouldn't ride comfort and safety be considered high on the priority list too, especially keeping in mind the country's well below-par driving conditions?

An engaging debate* is afoot.

(*Membership Required)