Is now the best time to get a car?
The Covid19 pandemic has brought life to a grinding halt. Even as many places across the country have begun easing lockdown restrictions, there is a lot of uncertainty about life in the new normal. Prominent among those is the idea of travelling. Before the lockdown, a majority of Indians used an already overburdened public transport for moving around.
But whether it’s cabs, buses or trains - the coronavirus has made it virtually impossible for people to use public transport while maintaining social distancing norms. So, does this mean now’s the best time for you to get a car? Here are a few questions to ask yourself, to help you decide better:
Am I financially ready to get a car?
Getting a car is a huge financial commitment. If you opt for a car loan, you need to think of hefty down payments, future EMIs - you need to figure out your money matters. With the current uncertainty in financial markets, investing in a depreciating asset like an automobile might not seem like a lucrative option to many.
Will I be able to get a car right away?
With several cities ‘unlocking’ the new normal, the need for a mode of safe travel is immediate. The process of getting a car, however, might not be as quick. From finding the right car, to figuring out loans and waiting for delivery - the process is time consuming. The lockdown restrictions also mean more time for paperwork, meaning it can be a while before you can actually get behind the wheel. To sum it up, if your goal is to get a new car to help lessen your commute worries - you might have to wait a tad bit longer for the green signal.
Is there a way to travel safely without investing in a new car?
The one thing that everyone can agree upon is that public transport is to be avoided as far as possible. To stay safe from the virus, a private vehicle seems to be the best choice. So, how can you get your hands on an automobile that you want, without burning a hole in your pocket?
Could car leasing be the answer?
The concept of leasing a car - although relatively new in India - seems to be catching on, and for good reason. The biggest advantage of car leases in the current times, is financial flexibility. Car leasing firms have started offering cars at a nominal monthly cost, thus helping customers get their hands on a vehicle without the monetary burden. The tax savings from car leasing services are an added bonus.
ALD Automotive offers a range of cars on lease. So, if you feel like you want to drive away from your pandemic worries, while still staying financially on track - a car lease from ALD might just be the way to go. Getting a car of your choice on lease is pretty simple too. Just check your eligibility with your company, sign the contract and enjoy the ride. Here’s to a smooth drive in the new normal, with a lower taxable income, 24x7 roadside assistance, insurance and maintenance bundled in one easy monthly lease rental which will be reduced from your pretax salary.
Read more about the different kinds of car leases available, and find the one that best suits your needs, right here.