A recent YouTube video by Pranay Kapoor showcases a car buyer’s remarkable feat of purchasing a brand-new Skoda Slavia for less than a used model. In the video, the buyer details the steps he took to secure significant discounts and shares valuable tips for other prospective car buyers.
Choosing a Previous Year’s Model
The buyer opted for a 2023 model instead of the latest 2024 version, saving around Rs 4 lakh. Dealers often offer hefty discounts on older inventory to make room for new stock, presenting a golden opportunity for buyers.
Timing the Purchase
Strategically timing the purchase at the end of the month enabled the buyer to take advantage of end-of-month discounts. Dealerships eager to meet sales targets are more likely to offer significant discounts during this period. He also benefited from a Skoda flash sale on the 24th.
BH Registration
Opting for a BH (Bharat) registration, which spreads the road tax payment over multiple years, reduced the initial cost. This registration is especially beneficial for employees who frequently relocate across states.
Saving on Insurance
Instead of buying insurance from the dealership, the buyer explored online platforms like Coverfox and Acko, saving Rs 15,000-20,000 by finding competitive rates and customizable plans.
Smart Financing
The buyer researched various banks to secure a low-interest car loan, opting for maximum financing to invest the saved money elsewhere for passive income at a higher rate than the loan interest.
Playing Dealers Against Each Other
By obtaining quotes from multiple dealerships and creating a bidding war, the buyer further drove down the price, ultimately paying Rs 16.14 lakh for the new Skoda Slavia, less than the price of a used model.
These strategies highlight how prospective car buyers can secure the best deals by being strategic and informed.