Planning to buy a car? You should be prepared to answer these questions

Zee Media Bureau

New Delhi: Buying a new car needs a lot of research which includes selecting the model, the brand, the specs and a lot more.

However there are some financial as well as practical aspects which should also be seen before buying a new car.

Here are a few questions you should be prepared to answer before buying a new car.

ARE YOU READY FOR EMI

Every individual is different and so are their EMI limits. Calculate your EMI carefully. You should not spend more than 25-30 percent of your salary in EMIs.

PROMOTIONAL OFFERS

Automobile companies will always tempt buyers to firm up purchase decisions by coming up with various promotional offers. You will have to decide, if the promotional offers are actually going to balance your finances. It is not advisable to settle for things like 2 gms gold coin.

IS THE CAR AN ASSET OR A LIABILITY

An asset is be something that gives you good returns and a liability is just the opposite of this. Make sure that the car you are going to buy has more financial value. Think on the tenure you are going to hold the car and also about how much it could fetch if you want to dispose it off.

HATCHBACK OR A SEDAN

It is true that everything depends on the pocket. But a lot also depends on other factors like parking issue, taking out the car in traffic. Don't just buy a sedan for the sake of buying. If it is your first car, it is advisable that you go for a hatchback.