Is the festive season the best time to buy a car?
The last four months of the year, i.e., September to December, are the most exciting as several important festivals fall under this period. The season starts with Ganesh Chaturthi in September and ends on new year’s eve. Navratri, Dussehra and Deepavali, some of the major festivals celebrated with great joy and fervour across India, also fall in this period. Therefore, this season is rightly termed as “Festive Season”. This season gives automakers an opportunity to push the sales of their products/services and maximise profits. To finish the year with strong sales numbers, automakers offer heavy discounts schemes, attractive offers and loyalty exchange programmes.
Many buyers consider this festive period auspicious and buy new things like clothes, jewellery, electronics and vehicles. It is a belief that purchases made during this period welcome an abundance of good luck and prosperity.
New Car Launches
One of the most popular purchases is a car. The purchase of a new car is still a luxury for many in India. Hence many customers, especially first-time buyers, wait for the festive season to make their purchases. These purchases are made on the significant days of Ayudh Puja and Dussehra. Many new models and new avatars of existing ones are launched by the manufacturers considering the auspiciousness.
Exclusive Benefits & Discounts
Automakers offer various types of discounts to gain the attention of their potential buyers. These include cash discounts, cashback offers, gold coin offers, corporate discounts, as well as cash vouchers. These discounts can be generic or targeted to the special categories of buyers like defence personnel, frontline medical workers and government employees. These heavy discounts result in a lot of savings for car buyers and encourage them to purchase.
Loyalty Exchange Programmes
Exchange programmes work best for existing car owners who aspire for a new car but want a decent selling price for their old one. Automakers offer huge exchange bonuses that encourage these car owners to buy a brand new one in exchange for their old ones. Some of these offers are so attractive that they tempt those car owners who never intend to buy a new vehicle in the first place.
Auto accessories like rim wheels, seat cover, parking cover etc., cost a bomb. Giving away these expensive accessories is a surefire way of enticing buyers and impacting the bottom line. Some automakers and car dealers even install these accessories, which saves buyer’s money, time and effort.
EMI & Finance Schemes
Automakers tie-up with leading banks/financial institutions and offer financial assistance for their buyers. These include EMI (Easy monthly instalments)and low interest/interest-free loans. Such offers work well for those buyers who cannot make full cash payments during the purchase.
Extended warranties and Free Insurance Cover
Extended warranties and free insurance covers are offered by the automakers to lure in buyers. Extended warranties help car owners save on costly repairs; free insurance cover saves the buyer the hassle of going through a complicated insurance process. Free insurance covers are helpful for first-time buyers who find it difficult to understand the nuances of car insurance.
These festive offers are a win-win situation for car buyers and automakers. On one hand, buyers can make large savings on the purchase through offers and discounts. On the other hand, the automakers make huge profits with increased sales. Festive seasons are indeed the best time to buy a car! When you buy a car this season, don’t forget to use the best engine oil.