Car will be expensive to buy, buy your favorite car, bike or scooter before June 1; Later on, more money will have to be spent
Car-Bike Price Hike: Buying bikes and cars will become expensive from June 1, this decision of the government will increase the burden on customers
Buying a car will become expensive from June 1, but this time the automakers are not making the vehicles expensive, but the final price of the vehicle is going to be expensive due to the insurance being expensive.
Suppose you are buying a car or SUV from 1000cc to 1500cc then you will have to pay 6% more premium. Till now, Rs 3,221 had to be paid for this, but now third party insurance premium will have to be paid for this Rs 3,416. At the same time, a premium of Rs 7,890 will have to be paid for a personal car with an engine of more than 1500cc power. However,
there has not been much increase in the insurance premium in this segment of the vehicle as it used to charge Rs 7,897 earlier as well.
The Ministry of Road Transport and Highways has increased the premium for third party insurance. Because of this, buying two-wheeler and four-wheeler will become expensive. The new prices are effective from June 1.
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