CAR PURCHASE DILEMMA

Are you thinking of buying a new car? If yes, then probably you are suffering from this dilemma. After all, as experts say, a car purchase is the 2nd most emotional investment after a house deal in a person's life. In spite of the dilemma that exists behind this emotional purchase, a lot of logical reasoning also exists.

Let's see if we can simplify the dilemma a bit by gauging the parameters that usually impact the purchase decision:
1. Price
Tentatively fix your budget. It can be 5-6 lacs or 8-9 lacs. Otherwise you will likely be confused with the plethora of features & offers that are presently making rounds in the market. More importantly, fix the initial down payment that you can afford and the monthly EMI that can be borne by you.

2. Schemes & Offers
DON'T GET HITCHED BY ANY SPECIFIC SCHEME OR OFFER FROM ANY COMPANY.
This is because the schemes run throughout the year with minor variation between the peak season and off-peak season. So don't let your purchase decision get influenced by a temporary scheme. After all, it's a long term investment and don't let a few thousands of savings in short term sway your decision. An example:

3. Brand
This is quite an important element of the purchase decision. Who would like to buy a brand that has minimal presence in the market? Unless obviously you work in that company or you are supremely confident of the product. This factor basically helps you give importance to an emotional attachment / perception about a particular company / brand during the car purchase.

4. Product
This should be the most important element of the purchase decision. Everything else comes after this. Product means- car specifications, engine specifications, performance & mileage. Some of the major points to look within this are:
a. Power (@ which rpm is important; 87bhp@6000 rpm is not better than 87bhp@4000 rpm coz usually we do not drive at more than 4000 rpm)--> This gives an indication to the car's speed
b. Torque --> This gives an indication to the car's pulling power and hence the pickup effect
c. Physical dimensions --> Make a comparative study of all vehicles in your consideration set regarding the physical dimensions. This will give an overview of the space inside the cabin, ground clearance, road grip (from tyre size)
d. Weight --> Though kerb weight is not very important but heavier vehicles are definitely more safer ones on the road and give better ride comfort at higher speeds (e.g. the FIAT's. TATA's & SKODA's)
e. Mileage --> Make it a point to check the SIAM Fuel Economy Certificate and don't go by the words of the Sales Executive

5. Service Network
Believe me, this is important. If a city boasts of 1-2 service centers, then it is definitely not a great thing unless the center is right next to your home / office. You might go out of town for work or pleasure; you might even change cities. What is important then is the network of service centers across the country.

6. Car Features
Car features are important. Gone are the days when u used to get only the bland car without even a music system. Features have gone high tech these days with ABS, Airbags, ESP's, steering mounted controls, tiltable steering, adjustable seats, follow me home lamps, blue & me technology, etc etc.

7. Aesthetics
If you have a lady around you during the purchase decision, you will realize the importance of this point. From color to looks, everything that cannot be explained on paper, falls under this category.

That's it!

Don't go what you friend suggests. Think yourself. After all, it's your bloody hard earned money. Take a knowledgeable decision. All the Best!