A car is more than just a vehicle, it’s a long-term investment. Whether you’re buying new or used, the right decisions at the start can save you both money and regret later. Here are some essential points to keep in mind.

Buying a New Car

• Compare Showrooms: Never settle on the first price. Visit at least two dealerships for the same model, discounts and freebies often differ.

• Loan Matters: Check with your bank for a floating interest rate loan. It usually comes 1–2% cheaper than a fixed-rate loan and rarely exceeds it, giving you breathing space in the long run.

• Pre-Delivery Inspection (PDI): Before signing off, inspect your car thoroughly. From odometer reading to paint quality, ensure everything is in order before you drive out.

Buying a Used Car

• Running Costs: Check the fuel efficiency and daily running expenses. A cheap car with poor mileage can bleed your wallet over time.

• Loan Restrictions: Government banks usually avoid financing cars older than 5 years. Private banks may help, but expect steep rates (often above 13%). Ensure it’s a reducing balance loan to avoid heavy interest.

• Negotiation Hack: At company-owned used car outlets, negotiate harder on cars from other brands. Dealers are under pressure to clear them quickly, which means more room for discounts.

Buying a car is not just about picking a model—it’s about making informed financial choices. With the right strategy, you’ll drive away not just with a new set of wheels, but also with peace of mind.