Understanding your New Car Invoice Prices: How to Get?
- Author :
- TATA AIG Team
- Published on :
Car has become one of the essential things in one’s life. It is because of the ease that it provides when it comes to moving from one place to another. When you buy a car, it can be one of the best moments in your life. And while you bask in the wonderful moment, do not forget to collect all the documents related to your new car. One of the documents that you need is a car buying invoice. When you buy a car, it is important that you check the new car invoice and make the payment accordingly.
Before we get into a detailed explanation of the new car invoice, it is essential to understand another important document that you need. It is the insurance for the four-wheeler. Third-party insurance for the 4-wheeler is compulsory under the Motor Vehicles Act.
Buying insurance for the four-wheeler is an easy and quick process with Tata AIG. You can go to the website, compare the different plans available using the car insurance calculator, and choose a suitable plan. You can get the car insurance policy within a few minutes of paying the car insurance premium.
Let us get into the details of the new car invoice price.
What is the New Car Invoice?
The new car invoice price is mentioned in the document and the other details like the breakup of the price of the car are also there in the document. The car buying invoice is nothing but a document that the car dealer gives to you requesting payment from you for the car. Also, the amount that is mentioned in the invoice is exactly the amount that you need to pay before you take the delivery of your car.
To understand the new car invoice price details, you need to have in-depth knowledge regarding the various components of the car buying invoice.
The ex-showroom price of the car is the price that has been fixed by the manufacturer of the car. The price is inclusive of the costs of manufacturing, the logistics and transportation charges, the margins of the dealer, and the taxes such as GST that have been levied on the car.
Charges for vehicle registration
This includes the amount of money that has been paid to the RTO(Regional Transport Office) which includes the RC charges and the road tax paid.
Car insurance policy premium
Buying three-year third-party insurance for the four-wheeler is mandatory as per Indian law when you purchase a new vehicle. However, opting for comprehensive four-wheeler insurance is ideal as it comes with a third-party and own-damage cover.
If you choose to purchase accessories or any other services like roadside assistance or extended warranty, etc. from the dealer, then you have to pay some extra charges. A FASTTag has become compulsory for all cars and thus, if you choose to buy a tag from the dealer, you will have to pay the charges.
The on-road price is the final value of the car that you pay just before you drive your car on the road. It is a sum of all the costs that have been mentioned above.
The new car invoice price is the total of all the prices that are mentioned above.
How to Get Invoice Price on a New Car?
There is no specific way to get the invoice price of new cars. Typically, when you purchase a car from the dealer, you will be provided with a new car invoice which will include all the details that you need. It is a document that will mention the price that you need to take your car home. The car invoice is generated once the car and the variant that you need are available at the store. You have to verify the invoice and make the payment to the dealer.
How to Find the Dealer New Car Invoice Prices?
Finding the invoice cost for new cars is not tough. It is the on-road or the final price of the car that you need to pay. Below given are some of the ways to understand the dealer’s invoice cost for new cars:
If you plan to purchase a new car, you might wish to understand the invoice price of the car before you book the car. In this case, you can simply go to the showroom and ask for the new car invoice pricing guide. The dealer will then provide a quotation for the car to you which will include the price of the dealer. You must understand the invoice cannot be generated till the time you book the car.
You can also know the new vehicle invoice price after you have booked the car. Typically, the invoice for the car is generated when the car is available at the showroom and before the final settlement of the payment.
There are also various websites that can provide you with information regarding the invoice price of the car. You can go to these websites, add the details of the car that you wish to buy and they will generate the expected final price of the car.
How are the New Car Invoice Prices Generated?
The new vehicle invoice price is nothing but the final price that you need to pay for the car. This price is also known as the on-road value of the car and it is the final amount that you need to pay to take your car from the showroom.
The calculation of the new car invoice price is mentioned below:
On-road value/price of the car = Ex-showroom value of the car + Charges of registration + Car Insurance Premium + Additional Charges
In short, the invoice cost for new cars is the added sum of the ex-showroom value of the car, any charges for RC and road taxes, insurance premium price, and any additional expenses. The additional expenses are dependent on the additional services and accessories that you buy.
Difference Between Car Invoice Price and Quotation Price
When you buy a new vehicle, there is a pricing term that is often interchanged with the invoice price. That is the quotation price. There are some key differences between both these terms that you need to understand.
|New Invoice Price||Quotation Price|
|The car invoice is generated after you have booked the car.||The quotation price is the price that the dealer provides upon your request.|
|The invoice is a document that states the price that you need to pay for the car. The invoice price needs to be paid before you take the delivery of the car.||It is a document that contains the final price or the estimated on-road price of the car.|
|The new car invoice price cannot be changed.||The quotation price is subject to changes because of fluctuations in the price of added services, accessories, etc.|
Here are some of the key differences.
When you buy a new car, it is essential to understand all the terms that are linked to the car. One of the essential terms is the new car invoice price. The new car invoice price is the final value of the car and that is the price that you need to pay to drive your car from the store. You can also ask for a quotation if you want to understand the details of the invoice price. Thus, understand the price of the car, research well, and then buy a car for yourself. Also, select a comprehensive car insurance policy when you buy a new car. It offers more features and better coverage.
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.