Did You Know | It matters when you buy your car

Did You Know | It matters when you buy your car

Your friend and you celebrated this New Year by buying a new car each. Though you went for the same brand and model, your friend got a better deal. The difference: She bought it on 31 December, while you drove it home on 1 January. So, can one day make a difference? Well, it seems it does.

Mixed bag

December is both the best and the worst month to buy a car. This is the month when you can get the best deals. But buying a car in this month would also mean that your car will get a registration date that of the prevailing year, and not for the year ahead which may be just a few days away. The date would make a difference while selling the car.

The best time

January is the best month for precisely the reason why December is the worst. But you get better discounts in December. January-March is the best period for those who use their car for business purposes. They get 50% deduction on the depreciation cost of the car as per the Income-tax Act.

Another good time is any month-end. Dealers and retail outlets have targets to meet and you may get a better deal or some freebies.