Coronavirus and Cars: Is It the Best Time to Buy a Car Right Now?

Get Car Insurance starting at only ₹2,094/year #
Car Insurance

India is currently recovering from the ruthless second wave of the COVID-19 pandemic. Although a third wave is predicted in the coming months, most restrictions have been lifted. In this situation, several people are thinking of buying a car.

Read more

  • Renew policy in 2 minutes*

  • 20+ Insurers to choose

  • 1.2Cr+ Vehicles Insured

Car Insurance

#TP price for less than 1000 CC cars. All savings are provided by insurers as per IRDAI approved insurance plan. Standard T&C apply.

Get Car Insurance starting at only ₹2,094/year #
Looking for Car Insurance?
    Other models
    Other variants
    Select your variant
    View all variants
      Full Name
      Mobile No.
      We don’t spam
      View Prices
      Please wait..
      By clicking on “View Prices”, you agree to our Privacy Policy & Terms of Use
      Get Updates on WhatsApp
      Select Make
      Select Model
      Fuel Type
      Select variant
      Registration year
      Registration month
      Save & update
      Please wait..
      Search with another car number?

      We have found best plans for you!! Our advisor will get in touch with you soon.

      Buying a Car During the COVID-19 Pandemic

      After what seemed like a never-ending two and half months, most of the COVID-19 restrictions have been lifted across the country. People have again starting to step out of their homes either from work or for leisure. This has increased the probability of a third wave of the pandemic in the coming months.

      The second wave of the pandemic has made people believe in the probability of a third wave. As a result, people are trying to take precautions as well as getting themselves vaccinated to stay safe from the coronavirus. Several people are hesitant in travelling in public transport due to the fear of contracting the virus. To avoid doing so, a lot of people are renewing their car insurance policy and considering buying a car.

      Travelling from your own car will definitely keep you safer from the coronavirus as compared to travelling in public transport, such as metro or bus. But is this the right time to buy a car?

      Let’s find out. 

      Things to Keep in Mind while Deciding to Buy a Car During the COVID-19 Pandemic

      If you are planning to buy a car during the COVID-19 pandemic, take a look at the following things that will help you make a decision:

      1. If You Really Need the Car

      You should buy a car if you have been planning to buy one for the longest time. In case you have been saving money to buy a car of your choice, then you must go ahead with buying it. Moreover, if you need to step out of your home frequently for work, it is better to buy your own car than travelling on public transport. This is because travelling in public transport can expose you to the risk of contracting the coronavirus.

      However, if you have been working from home and do not need to step out of your house regularly, you can avoid buying a car for the time being.

      2. If Any Savings is Available on the Car Price

      With the onset of the COVID-19 pandemic, the entire country went into lockdown for months leading to a drastic dip in the sale of cars. In order to clear the stocks, several automobile companies and car dealers were offering discounts on the price of the car. In case the car of your preference is currently available for a much lower price then you must buy it right away.

      3. If You Should Buy It Online or At the Showroom

      During the ongoing pandemic, it is better to research different cars and shortlist the car of your choice online. Every car manufacturer has a website where you can check out the various features and specifications of the car with a 360-degree view. In case you want to test drive your car, car dealers can arrange a test drive at your preferred location. You can easily buy a car that meets your requirements and fits into your budget online.

      4. If You Should Wait to Buy Your Preferred Car

      Automobile companies have launched several competitive car models in the past year. Before you choose a car, make sure to consider the various car models available in the market. Whether you wish to buy a hatchback, sedan or SUV, you will have multiple options to choose from.

      But in case a car you like is going to be launched in the coming months, you can wait for it and buy it after it has been launched in India.

      5. If You Should Choose a Second Hand Car

      Even though travelling in public transport is very risky in the current pandemic, not everyone can afford to buy a brand new car. In case you have a budget constraint and still want to avoid travelling on public transport, you can consider buying a second hand car. In comparison to new cars, second hand cars are more affordable. Besides, you can easily find a car as good as new at a much lower price if it is second hand. 

      Is It a Good Time to Buy a Car During the COVID-19 Pandemic?

      The answer is YES.

      Despite the ongoing COVID-19 pandemic, buying a new car or a second hand car is a great idea. Keeping yourself safe from the risks of coronavirus is the need of the hour. Using public transport for travelling regularly not only puts you at the risk of contracting the virus but also poses a risk to your family members.

      But if you buy a car of your own, you would not have to travel with other people in public transport and can avoid the risk of contracting the virus. Moreover, you can easily choose a car of your choice online and schedule a test drive at the location of your choice.

      If you need monetary assistance, you can avail loan facilities with the help of your bank. Car dealers also offer loan facilities with certain banks to their customers. All you will need to do is to pay a small part of the total car price as a down payment while the rest of the amount will be covered by the bank offering you the loan. 

      Buying Car Insurance for Your New Car

      Once you have purchased your car, you must purchase a car insurance policy. In India, it is mandatory for every car to be covered under car insurance with at least third party cover. If you do not purchase car insurance for your four wheeler, you will have to pay a fine of Rs 2000 and/or spend up to three months in jail. The fine amount will increase to Rs 4000 if you are caught driving your uninsured car for the second time.

      Buying a car insurance policy is extremely easy. You can buy insurance for your car online without stepping out of your home. It not only keeps you socially distant, which is the need of the hour but also allows you to compare different plans and choose the best car insurance policy.

      In a Nutshell

      In this era of social distancing, purchasing a car has become a necessity. Since car manufacturers are offering discounts to clear out their stocks, this is the best time to buy a car for yourself. You can get your brand new car outside your home without having the need to step out of the car. Stay home and buy your next car online even with the pandemic.

      Find similar car insurance quotes by body type

      Hatchback Sedan SUV MUV
      Save upto 85% on Car Insurance
      Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
       Why buy from policybazaar

      Car insurance articles

      Recent Articles
      Popular Articles
      IDV in Car Insurance

      22 Feb 2024

      In layman's terms, the IDV full form is the Insured Declared Value
      Read more
      Must-Have Car Insurance Addons for Brand New Cars

      31 Jan 2024

      Investing in a full-coverage car insurance policy is essential for
      Read more
      No Claim Bonus (NCB) in Car Insurance

      29 Jan 2024

      No Claim Bonus (NCB) is a reward given by an insurer to a
      Read more
      How to Choose the Right Car Insurance for Your First Car?

      17 Jan 2024

      Buying their first car is no less than a milestone unlocked for
      Read more
      Things To Know Before Purchasing Sedan Car Insurance

      12 Dec 2023

      The type of four-wheeler you purchase also impacts its insurance
      Read more
      Check Vehicle or Car Insurance Status/Validity Online
      It doesn’t matter if you are an excellent driver or take your car out only once in a few months; your car must be
      Read more
      Getting Your Duplicate Car Insurance Policy is Easy-Here’s How!
      Losing your car insurance documents can be daunting. In such a state of affairs, the first thing that comes to your
      Read more
      Find Car Insurance Details By Registration Number
      Sometimes, you may face situations when you need car insurance or vehicle owner details but cannot readily access
      Read more
      How to Transfer Car Insurance Policy?
      An integral part of selling a car for both the buyer and the seller is ensuring a successful car insurance transfer
      Read more
      Comprehensive Insurance Vs Third Party Insurance
      Comprehensive car insurance offers protection to the insured car against third-party liabilities and own damages due
      Read more

      #Rs 2094/- per annum is the price for third-party motor insurance for private cars (non-commercial) of not more than 1000cc

      *Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.

      View Plans
      Download the Policybazaar app
      to manage all your insurance needs.