How to buy a Car (Basic steps for buying a car) - Step# 2: Payments (How do I decide on payment terms for buying a car)
Hello Readers , In the previous blog, I discussed about the step#1, i.e. on various pricing factors and finalizing on a dealer. In this section, we would go over the payment related steps. Let me break that into smaller units of activities and then detail on each of them. The activities are: Initial Payment (not the down-payment) Loan vs Down-payment Loan Tenure Choosing the Banker Car Inspection Down Payment Final Payment So, let us discuss about all these points in details. Initial payment This is a token money for booking the car, typically in the order of Rs 5000 to Rs 15,000. It surely depends on the car make and model. Please note, this is the booking money and not the initial down-payment. Whether the car has any waiting or not, you should not pay anything more than the booking money. Please ask what is the return policy and tell them you might ask for a return in case of any issues you might face financially or otherwise....