As the holy month of Ramadan fast approaches, UAE residents are bracing themselves to experience and observe the spiritual and festive period in their own unique ways. This period of fasting, prayer and self-reflection is of great importance to Muslims all around the world. It is a time for spiritual growth, charity, and community service, along with fun and frolic. Many people also choose to make big purchases such as buying a new car during this auspicious time.
Purchasing a car is an exhilarating experience and there are several key factors to be considered to ensure you get the most out of your purchase. If you're a first-time car buyer in the UAE or an experienced owner, this article will guide you through five essential factors that you should consider before making a purchase this Ramadan season. With this advice, you'll be able to make an informed decision that you'll be sure to be satisfied with.
1. Decide on a Budget
Consider all the costs associated with the car, such as the cost of fuel, insurance, and taxes. This will help you get a better understanding of the total sum you need to pay for the car. Once you have an estimated figure in mind, you can narrow down your choices and make an informed decision on the right car for you.
To be on the safe side, you should try to ensure that your monthly repayments on a car loan don't exceed 20% of your monthly income. Once you know your spending limit, start exploring the range of car models that fall within your budget.
2. Rev Up Your Knowledge with Online Market Research
Knowledge is undoubtedly your friend when it getting a new car. Take full advantage of the internet and conduct thorough market research before making a purchase. It is recommended to browse the reviews, check out the manufacturer's website, or consult car dealers to glean additional insights about the car you’ve been eyeing.
Another important aspect to consider is that you must consider opting for a car that complements your needs and lifestyle. For instance, if you have a big family, look for a car that is spacious and boasts of excellent fuel efficiency if you are planning to take long journeys.
3. Ask Questions
When purchasing a new car, it's crucial to be completely aware of the features of the car and the estimated time of delivery - this is particularly important during peak periods, such as the Ramadan season when the demand is significantly higher. This will help in resolving any inquiries you may have, allowing you to make a more thoughtful decision.
4. Explore the Multitude Financial Avenues
Multiple options are available to finance your upcoming vehicle purchase. While paying in cash upfront remains a possibility, there are other alternatives available. One of the options is taking out a personal loan or a car loan that would provide you with the funds to buy the car outright, after which you can repay the loan in monthly instalments.
Leasing is also a well-liked alternative as it involves lower monthly payments, although you won't own the car at the end of the term. Furthermore, numerous automobile companies offer various promotions, offers, and discounts for car purchases during the Ramadan season, which you may benefit from.
5. Experience the Exhilarating Ride
Going for a test drive is an essential part of the car-buying process. While brochures and websites provide useful details, test drives allow you to evaluate the car's control response, handling, ride comfort, and visibility. This is important, as you'll be driving the car every day. Make sure to use this time to thoroughly assess the car and gather all the information you need before making a decision.
We hope that these tips will make your car-buying experience run smoothly, and may your Ramadan be blessed with the joy of a new ride!
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