Buying a new car is an important milestone for many. With numerous car manufacturers in the country, choosing a suitable vehicle requires extensive research. Apart from features and specifications, the most crucial aspect of buying a car is its price. Cars generally tend to be expensive. However, there are times when you can get huge discounts. Keep reading to know when is the best time to buy a car.

The end of the year or month is the time when car dealers typically wish to achieve their sales targets. To achieve these targets, the dealership may offer a good discount. The period from October to December is also one of the best times to buy a car since showrooms are likely to clear their inventory.

If you are looking to buy a new model, purchasing it close to the launch date can get you a good deal. Car manufacturers may offer discounts on the first hundred, thousand, etc., cars sold. Ensure you pre-book the vehicle well in advance to be eligible for such offers.

Car dealerships use major holidays like Independence Day, Republic Day, Diwali, Christmas, etc., to draw customers. The New Year is also one of the best times to purchase a car in India. Dealers want to empty their existing stocks to make space for new inventory.

Dealerships tend to be busy during the weekends. Visiting the showroom at the start of the week or during weekdays can fetch you a good deal. You get undivided attention from the salesperson, which increases your chances for better negotiation. The start of the week is thus one of the best times to buy a new car.

Besides seasonal discounts, car dealers often roll out exciting offers to mark their anniversaries and other significant occasions. During this time, they may offer perks like discounts, cashback, low-cost EMIs, offers on car servicing, etc. Lookout for such deals to get the best price for your car.

Automakers may stop manufacturing certain models if they are outdated or being replaced with newer models with additional features. In such cases, showrooms may want to sell the existing models before they get discontinued, making it one of the best times to buy a new car.

Before the car manufacturer introduces a facelift for any existing car, showrooms may want to clear the stocks. The new model may have minor additions or changes. Auto dealerships may offer discounts if you do not mind buying the older models.

The best thing about car insurance is that you can buy it any time of the year. The Motor Vehicle Act requires car owners to mandatorily possess third-party limited liability insurance. However, comprehensive car insurance is better since it provides maximum protection against all sorts of roadside incidents, including accidental hospitalisation and vehicle damage or losses incurred due to natural calamities and human-made incidents. It covers policyholders, co-passengers, and third-party individuals against legal and financial liabilities.