Buying a Car or Bike For Social Distancing

Written by Sharad Bajaj

Updated On Oct 14, 20232 min read

Need your own transport to get to work but wondering if this is the right time to purchase one? Read this article.

In cities, many of us previously never bothered thinking about purchasing a car or bike of our own. Taking shared cabs, using the metro or other public transport was an easy alternative to owning your own transport. However, with the pandemic, this scenario has changed drastically. Everything has restrictions for maintaining social distance and has made public transport extremely inconvenient if you have to reach places within a certain time. So you may be wondering, whether now is a good time to purchase a car. Read this article to find out.

Is This A Good Time To Purchase A Car or Bike?

On the one hand, having your vehicle could solve a number of issues that arise due to having to maintain social distance while also reaching work on time. On the other hand, with the current state of the economy and the lack of stability in most workplaces have affected most of our personal finances. But the discounts and the offers that car and bike makers are offering at this time still make it an attractive alternative. In the end, if you can afford to buy a car at this point without eating into your savings it is alright to purchase one. Remember to purchase car insurance along with it.

Is There A Possibility Of An Increased Demand For Cars or Bikes In The Future?

Before the pandemic, experts projected a trend where more and more people would choose to travel by public transport, metros and shared cabs for travelling. However, the pandemic has raised concerns about the safety factor in public transport. A survey has shown that around 57% of Indians are now considering private transport for this very reason. So yes, there is a possibility of increased demand for private transport in the near future.

What About Second Hand Cars?

In case, you still need to resort to private transport and a new car is out of budget, you can look at second-hand cars. Make sure you do your research before the purchase. There will definitely be a good deal out there which will suit your needs. When making the purchase remember to transfer the car insurance or buy a new one. A comprehensive car policy will cover own-damage costs and third-party liabilities. Click here to read more about second-hand car purchases.

Takeaway

In a nutshell, if you want to buy a car or bike this could be a good time to do so considering the offers and discounts being offered. However, remember to do this only if it does not eat into your overall savings. Before you decide to do so remember the risks of doing so in the current situation, such as the instability in workspaces. However, if you choose to buy a car or a bike, remember to purchase insurance. Click here to get quotes on bike insurance and click here for quotes on car insurance.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Disclaimer

This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

Written by Sharad Bajaj

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Sharad is an insurance industry veteran who has managed motor insurance products for over a decade. He helped set up and scale the motor insurance vertical for a leading insurance company in his previous stint. In his spare time, Sharad likes to read and be in tune with nature.