Selling cars was a challenge during the olden days [1900 period] until an extra-ordinary salesman & entrepreneur William Billy Durant, founder of General Motors introduced the concept of “Auto-mobile Financing”. Auto-mobile loans were not very common during that period in India & were only restricted to certain standard of society. All that has changed post the liberalization era.

Change in Indian mindset

Consumer mindset of 1980’s was that of ‘caution’. People were only interested in government paying jobs since they were secure even though many of them were low paying!!! Also, in terms of saving; buying a house was only a priority. Owing a vehicle was definitely a distant dream.

Banking sector was also impacted because of this mindset. During the 1980’s, percentage of vehicle loans were minuscule compared to the asset size of the bank.

Emergence of automobile finance

With the increase of foreign investment in India, it impacted many sectors including automobile. This not only impacted the buying capacity of the consumers but also impacted the automobile job sector. Special focus was on the passengers cars & multi-utility vehicle since it impacted the overall economic conditions of India.

Changing consumer mindset

With the changes in the overall landscape in economy & with the Privatization wave during the 1990’s; many things changed for the country. There was an increase in the “overall disposable income” of the Indians & now the consumers were less risk-averse. Now the consumers had the additional help of “loans” whether they wanted to purchase their dream home or buy a car!!!

In order to lure the growing demand of cars among consumers, banks also came up with various types of loans. This definitely helped them to manage their finances in much better way.

Some of the various categories of affordable home-loans are below:

1. Margin Money Scheme
2. Advanced Equated Monthly Instalment Scheme
3. Security Deposit Scheme
4. Hire Purchase Scheme
5. Lease Financing Scheme

[Source – SurfIndia]

Game Changer – The internet Era

With the rise of mobile phones in India & the data-rates becoming lesser day by day, consumers made Internet the primary medium for only buying via e-commerce websites but also for securing affordable car-loans. Internet not only provided a medium for the young-trendy consumers to compare prices of cars but also helped them to get car loans at lesser interest rate.

When we talk of internet, we cannot leave behind Bangalore. If you are looking for automobile loan in Bangalore, there are plethora of options that are available with them. Also, considering the traffic situation in Bangalore, there are many people interested in buying cars since it provides them more convenience. Interest rates become very important since many terms & conditions of banks & financial institutions are cryptic, so better to have a look at the car loan interest rate in Bangalore

When it comes to car financing, we have already looked at couple of useful options that might help our readers take an intelligent step in buying their “dream car” but insurance of the car also becomes an integral part of car.

Car Insurance

Car Insurance or motor insurance covers for losses that you might incur if your car gets damaged or stolen. The premium amount of your car insurance is decided on the basis of Insured Declared Value or IDV of the vehicle.

The insurance helps to get coverage against loss/damage, theft, accident, fire & coverage against financial liability [injury/death]. Since, Bangalore is our city of focus, hence you need to properly choose car insurance in Bangalore

Conclusion

The automobile market in India is growing at a very rapid pace & with the recent “Make In India” movement, many companies are keen to setup their “manufacturing plants” in India. This is already happening & it would not only affect the country’s GDP but also prove to be a boon to the consumers & young Indians aspiring to enter the automobile industry…

Businessmen and commuters can now check their emails and deal with work issues on the go, thanks to portable computer devices like the Samsung Galaxy Tab and the Apple iPad. Those who love gadgets are also never far from playing their favorite games or accessing the internet, because the tab comes equipped with WiFi and an array of downloadable apps. Unlike mobile phones – where BlackBerry’s are intended for business, while iPhone’s are perfect for social networking and gaming uses – the tablet computers seem to incorporate both. What are the main benefits of owning a portable computer tab?

Portable computer tablets, such as the Samsung Galaxy Tab or the iPad, are beneficial for both business people and gadget fans alike because they offer both easy access to emails and word processing programmes, plus they are equipped for gaming and listening to music on. Busy work people can reply to emails, edit word documents or even host online calls, which makes dealing with work issues convenient and accessible at any time. Many commuters can now do some work on the train, meaning they can relax when they get home.

Alternatively, portable tablets are perfect for those who love socializing and gaming. The Wifi allows users to go online, chat to friends using instant messaging and browse their favorite websites. Users can view sites like Facebook, YouTube or even do some online shopping. Plus, the large screen makes reading online magazines, newspapers and E-books easy and clear.

With the growing penetration of internet in India, many consumers are using the tablet not only for consuming internet content but also using the Calling Tablets which is definitely an add-on while using the tablet. Users always have the option to “Auto-Sync” their content when they are connected to the internet. “Auto-Sync” not only saves the pain of manually updating the data in the central servers i.e. Gmail Server etc. but also ensures huge time-saving when there is more data to be synced.

Battery life plays a very important role since Modem would be active constantly paging to the network & when there is “Background Sync” enabled, consumption might be much more.

In addition, these tablets can keep any film fanatic or music lover occupied for hours. Recent models provide a large memory capacity, allowing films to be stored and watched at any time. Plus, the tablet can be used as an MP3 player. Music fans can either upload their music onto the device, download new tunes from the web or stream free, live music off software such as Spotify, Saavn

Do share your experience with the tablet & how you use it for your day to day use, be it personal or official 🙂

When it comes to clothing, electronics & many other segments, there are many options namely e-commerce websites, price comparison engines etc that are available. However, when it comes to buying motor-bikes, brand value plays a very important role. In a city like Bangalore, where traffic is growing at a breath-taking pace; motor bikes & bi-cycles come in very handy to beat the traffic !!!

As per one of the recent research paper on consumer behavior, consumers usually buy a bike with the intention of keeping for a long period of time; further, you can buy a new bike, since it is an industry with a well-developed secondary market. But bikes are also experience goods: you cannot ascertain every characteristic of the bike before buying the bike as far as your utility function is concerned. You can learn a lot about bikes before buying them, but you still learn a lot after driving them; in particular, you learn whether they are a good match or a bad match for you.

With fuel prices climbing higher and higher, more consumers are interested in motorcycles for their fuel economy. The size and shape of your bike will have a huge impact on its gas mileage though.

There are different kinds of consumers, here we look at the buying motivations of buying a bike

Source : Study on Motivation factor for purchasing bikes study

Well, but there are many different kinds of consumers namely:

1. Convenience seeker – Buyers from this segment feel that bike should have good resale value, it should be very convenient to drive on rough roads and bike should be comfortable to drive even for long journey. Hence researcher names these buyers as convenience conscious buyers..
2. Brand seeker – Brand seeker buyers are those who feel that they always first look at the brand name before buying and they prefer to buy a bike whose original spares parts are easily available. These buyers named as brand conscious buyers.
3. Liberty seeker – Liberty seeker buyers feels that bike gives them sense of independence, enjoy when they drive the bike and feel proud when they drive the bike .These buyers are known as liberty conscious buyers.
4. Quality seeker – These buyers thinks that foreign collaboration bikes are always quality products and they want to buy a good quality product even at higher price. These buyers reflected quality conscious i.e. they named quality conscious buyers.
5. Economy seeker – In this segment, buyers want to buy cheap bike and prefer to buy bike on installment basis. Researcher named these buyers as economy conscious buyers.

Now that we know that each one of us as a consumer fall in any of the above categories, we look into couple of options for people who are searching for bikes in Bangalore

While we were searching for Honda bikes, Yamaha Bikes in Bangalore which are not only reliable but one of the biggest brands in bikes; it becomes necessary to buy it from the right partner J And yes, not to forget that it should provide mileage & the after sales-support should be good. We collate some of the options for consumers planning to buy Yamaha Bikes

Now, that you being a brand conscious customer have picked up your favorite bike, but what if there is a starter problem or any other issue in the warranty period !!! It becomes important that the “Authorized Dealer” provides best service. This is where choosing the right dealer would help.

So, if you are planning to buy Bike than compare prices online & choose the “Trusted Delaer” in your locality which would be a win-win situation.

We hope that these tips help you in buying your favorite Yamaha or Honda bikes in Bangalore. If you are any other tips, please leave them in the comments section !!!