One industry which stays undisturbed even during recession is the automobile market. Rising inflation may have made it difficult for people to buy cars, but car manufacturers are determined at making cars more affordable for an average customer. Rising prices havent affected the car market in any way; in fact, car manufacturers have been consistently dropping their prices while spending a significant capital on upgrading the present variants. One reason why car prices have shown a downward trend even during peak inflation is the cut throat competition.
India is one of the most attractive markets in the world, not only for car manufacturers, but for any industry. Many car manufacturers have set up camp in the country to cash in on the economic boom which has intensified the competition in the industry. To grab a better share of the market, every car manufacturer introduces new car offers in India. The car offers give buyers added incentives for buying a particular make and model. Some of the car offers that you may find on new cars in India are:
Cash discounts: Cash discounts are given on the ex-showroom price of the car which is the price of car without taxes. Cash discounts may start from as low as Rs 5000 and may over Rs 30,000. Car dealers also offer cash discounts on cars in order to attract more customers. While cash discounts from the company are constant, additional discount given by dealers may vary from dealer to dealer.
Loyalty bonus: Loyalty bonus can be availed only when you already own a car of the same manufacturer. Loyalty bonus is much like a cash discount except that you should be an owner of a model from the same manufacturer.
Free accessories: Almost every car manufacturer give car accessories as an incentive for buying their models. Depending on the manufacturer you are dealing with, car accessories will vary from car perfumes to seat covers and MP3 players. The car accessories may also vary with the dealer you are dealing with.
Exchange bonus: In case you are selling your old car while buying a new car, you can avail an exchange bonus and get better rates for your old car. Suppose your old car is valued at Rs 80,000, the amount of the exchange bonus will add on to this value and increase the selling price of your old car.
Extended warranties: Maintenance of the car can be a very big problem. Every car buyer is happy till the time their car is under the manufacturer warranty and there are never charges of repairs. Extended warranties extend the period of the manufacturer warranty on payment of a small fee.
Scratch card: This will depend on your luck. If you are lucky enough, you may get a holiday trip or even a new car with your purchase. The scratch card scheme seldom works.
Insurance/low interest: Car manufacturers may also give free car insurance with your new car. Offering car loans at low interest rates is also a popular offer. Car manufacturers generally enter an agreement with a particular bank which than offers car loans at low interest rates to a customer who buys cars of that manufacturer.