Know the Best Time to Buy a Car

Know the Best Time to Buy a Car

27 December, 2023

It is that time of the year when you are brimming with hope, energy and dreams. Yes, the year is almost coming to an end, and it is the time to set your priorities right; it is the time to dream big, not just for yourself, but for your family as well. In many ways, it is the time to ring out the old, and ring in the new!

There is positive energy all around you and it makes up for the right time to buy new things like clothes and gifts for the family. While clothes, gadgets, consumer durables like ACs and refrigerators, etc., are quite commonplace these days, but no doubt, bring cheer and joy to the family, a long-lasting gift like a car could indeed pleasantly surprise your family and increase its happiness ten-fold.

Everyone has dreams of buying a car, so what better occasion than the New Year to gift one to yourself and your family? This is one surprise that will remain forever etched in the memories of every member of your family. After all, we always want to give the best to our family, and getting a car is a step closer to ensuring this.

We know what you might be thinking: “A surprise is good only when it’s affordable.” A car is considered an expensive purchase and hence it’s not as common a gift as sweets or clothes. HDFC Bank understands that, and to help you make this New Year memorable, offers you amazing benefits.

What are the Benefits of Buying a Car in the New Year?

If you have ever wondered when the best time to buy a new car is, then the answer may well be - the New Year and here are the reasons why:

  • New Deals: Every year around New Year’s Eve, dealerships work in tandem with lenders and manufacturers to incentivise customers to purchase cars. This may be in the form of discounts, cash back etc., that easily adds up to a significant amount of savings in the short and long term.

  • New Models: Car manufacturers understand that evolving consumer demand, interests and choices will require that they constantly keep innovating. Most car manufacturers therefore launch new models around the New Year in order to build excitement about the new vehicle and also to help start sales on the right note. With many of these companies having their headquarters outside the country, the launch around the New Year also makes sense commercially as they can now plan their sales for the entire financial year (in many countries overseas, the financial year starts on the 1st of January)

  • Older Models: Have your eye on an older model? You may be able to get a better offer on it as most dealerships and manufacturers look to get rid of their old stock/older models of the vehicle you have your eyes on. This could again bode well commercially, as you can make the purchase when the prices are lower than the original market price.

  • Freebies Galore: Not all benefits are monetarily driven, and some of them can prove to be a real bargain if you manage to time things right. Dealerships in their attempt to drive a sale can incentivise you to make the purchase by throwing in upgrades or freebies which have some commercial value but are not a heavy cost for them to bear. Thus, you can benefit from things such as power windows, state-of-the-art sound systems etc., without paying much more for them.

Buy Your Dream Car with a Car Loan

You can opt for a Car Loan and buy cars from top brands. Here’s why you should consider a Car Loan:

  • Increased budget for a better car: A Car Loan can help you increase your car budget. This way, you can opt for a better car model.

  • Your car acts as collateral: You are not required to pledge collateral since your car acts as security until the loan is repaid.

  • Opportunity to improve credit score: By paying your Car Loan EMIs on time, you can establish a track record and build your credit score.

  • Save money for unexpected expenses: By borrowing money and paying for a car in EMIs can potentially reduce the financial burden that comes with upfront cash payments. This way, you can save money for other expenses.

Exclusive Benefits for HDFC Bank Customers

If you are an HDFC Bank customer, the entire process of taking a loan becomes as easy as shopping for groceries. It enables you to enjoy quick disbursal of funds, special rates of interest, and a lot more. You can get a perfect Car Loan for the perfect car, whenever you want it.

HDFC Bank is always at hand to fulfil the dreams of its customers. Get your dream car today and surprise your family in the New Year!

Drive Home Your Dream Car Today With Xpress Car Loan

Apply for 100% digital Xpress Car Loan by HDFC Bank.Enjoy features like attractive interest rates, no documentation, higher loan amounts of up to ₹25 lakh, and flexible repayment tenure from 12 to 84 months. You can apply for the loan on the XpressWay digital platform and get a loan in 30 minutes*. All you have to do is:

  1. Check your loan offer.

  2. Enter your car and dealer details.

  3. Complete your KYC.

  4. Your loan is disbursed.

Looking to apply for Xpress Car Loan? Get started here!

Read more about the different questions you need to ask before applying for the Car Loan.

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Car Loan at the sole discretion of HDFC Bank Limited. Loan disbursal is subject to documentation and verification as per Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.

Read more about the different questions you need to ask before applying for the Car Loan.

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