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How to Buy a Car for a Middle Class Family

Updated on July 18, 2011

What all things will you consider when you think of buying a car?

It should meet your budget; yet no compromises when it comes to facilities and other features. Must be comfortable to travel in. Should meet all the safety requirements. And above all, the car should be trendy as well; right?

A car undoubtedly will be our first preference from the very moment we become independent. If you want to get the maximum use of your hard earned money, there are certain things to be taken care of.

Car Budget :

You need to fix the budget first of all. If you have decided to go for a loan, 15- 20% of the total cost needs to be paid as down payment. The total monthly premiums of all the loans that you have taken including home loan, should not exceed 40 percentage of your monthly salary. Other wise, you will be having a tough time managing your family budget.

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Car Loans:

On the basis of features such as the loan amount and the loan is for how many years, you can choose a loan that demands the lowest premiums. Some banks offer a combination of interest and floating rates. Three to four year loans are preferable to long term loans.

Understand your car needs:

You needn’t buy a car that consumes the entire money that you have saved so far. If you usually travel in a town or a city, small cars are always advisable since they are easy to handle in the heavy traffics of our cities, and also to park. If you always travel with your family, big ones are advisable. If you consider security above everything, go for cars that offer the best safety features.

Fuel Efficiency of Car:

Medium cars and small cars arrive on road after the scrutiny of Automotive Research Association of India. The Automotive Research Association usually checks the fuel efficiency of automobiles and discloses the result to the public. These scrutinizes are usually carried out on the basis of performances done on the high ways. So this has got limitations. Still, this is the best available option to compare the mileage of different automobiles.

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The True Value of Car:

The cost of the car that is being advertised needn’t be the last price of the car. Discounts are announced during festive seasons. It may be possible for the dealer to offer the consumer the car at the discounted price.

The Time:

The sales will be low during the first half of the economic year, except April and September. It is assumed that vacation time and monsoons reduce the rate of sales. At the same time, it is obligatory fot he car dealers and manufacturers to meet their target. This is the best time to buy a car. The case is the same during the last week of a month.

Car Warranty:

Almost always, the offer will be there that if we pay a definite amount, the warranty period will be extended. Try to learn what all things will be covered after the usual warranty period. Don’t make decisions based on the salesman’s oration. Check out for facts in the documents, and understand every single nuance.

Tips and aspects to be considered during the selection of Car


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    • LensMan999 profile image

      LensMan999 4 years ago from Trans-Neptunian region

      Hi Cheeky Girl, H P Roy and luciano63,

      Thanks for leaving these useful suggestions and comments.

    • luciano63 profile image

      Luciano Bove 6 years ago from Paris

      You missed the Dacia story a sort of world car that is not expensive and not ugly selling like hell in Europe.

    • H P Roychoudhury profile image

      H P Roychoudhury 7 years ago from Guwahati, India

      This is one of the greatest achievement of Ratan Tata, the outstanding Indian industralist to build up the Nano-Car.

    • Cheeky Girl profile image

      Cassandra Mantis 7 years ago from UK and Nerujenia

      My favorite car is Alfa Romeo, and also Lexus and Jag. Enjoyed this hub, as I am a car fan!