Purchasing of new car
Today, the automotive market has increased it’s area of operation to such an unbelievable extent that any car of your choice can be easily seen, compared or even bought by just sitting in your home. Gone are the days, where the choice was limited, the specifications we’re unknown and the only thing in the hand customer was the need. In olden days, the relationship formation was based on the salesperson in the showroom.
Today, the scenario has changed a lot with the presence of digitalization the field of automobiles. Many customers have different objectives and needs for buying a particular model in the market and upon all today there are many other factors which decide the cost of the vehicle.
The aspect which decides the type of buying a vehicle is the need, a middle-class person may need a 7 seater vehicle for his family in an economical cost, a rich person may want a super sporty vehicle for races or a businessman may need a limousine for his business talks on the way. Like this there are many needs and objectives for the buying of a car.
In this, aspect there is a vigorous research going on to formulate a plan/ procedure in order to analyze the most possible social sector which could be attracted to the model. Generally, a person has to think many factors for buying a vehicle according to the need and in this point aspects like mileage, maintenance cost and ownership cost. As per the need is concerned mileage may be a keynote for a middle class or regular use family whereas maintenance cost may be key point for a person interested in SUV. So, the need decides the aspects of the car to relied on.
Today, for one need we have many choices and it obviously depends on the buyer to decide on how to decide. The biggest factor which plays a key role while purchasing a new car is the budget. It is the first step how you segregate the other cars and the segment you need. The budget doesn’t just depend on the money the buyer has but also depends on the future value of the car, loans, interests and many. So, naturally, there should be a research done for the first step.
Budget includes many issues which not just come during purchasing but also include many time going costs like maintenance costs over the coming years, depreciation cots for the car at the end of some years and many more. At the same time, the increasing coat of body parts may not be imagined but the customer should be ready for sudden changes in the charges.
Second, comes the model selection. After deciding the budget the right model which the buyer has to select. For one budget there may be many types of models which can fit in the budget line so, here the buyer again has to stick to his need. For example, in the budget of 10 to 15 lakhs we have MPVs like innova and SUVs like XUV 500. So, generally the buyer has to decide upon the models.
At the same time, one model can satisfy both utility and design needs but it ultimately depends on the buyer to give more weight to which aspect. People may think that compromising on exterior design aspects may lower the cost which is not an evident aspect.
Today, the value of design cars have become optimized and you get a low cost vehicle with more sporty or classy designs. There were days where design played a key role in the cost aspect but today it is not the case. Many international companies have given facelifts and modifications for their models keeping the piece same.
So, we can say exterior designs play key role in deciding the car to be purchased but he common misconception has to be removed in buyers mind in order to extend the respective company’s sales.
Like this there are many other factors like engine type, new or used, time and many more factors which have to studied upon for buying a vehicle. The other main aspect is the time factor Which can decide the offers, availability of the models and taxes.
Buying a car before or during it’s arrival can cost more than the cost of the car after 6 months or so and this can be vice versa also which depends on the demand and specifications of the car. In this point, marketing plays a key role in anticipating the people about the model.
The biggest threat for any customer in the automotive industry is the sales executives. Though it’s their job to influence people and increase the sales, it is also the responsibility of the buyer to withstand by his/her objectives and not to be carried away by the executive words.
When compared to any other factors in the market or internally, the need of buying a car in a specified budget is topmost factor which play a major role in purchasing of a car.