In your opinion there should be some pressing issues, and it is for this reason that we have compiled the complete buyer's guide, which focuses on safety, accessibility, maintenance and practicality when choosing the perfect car.
Let's first look at the advantages and disadvantages of buying a new or used car.
The benefits of buying a new car
- Usually you get a full warranty package.
- No previous wear, mechanical or body damage.
- Dealer may offer financing at a lower interest rate.
- You may be offered additional options and features.
Disadvantages of buying a new car
- The purchase price is usually much higher.
- The value greatly depreciates at the moment when you knock him down from the floor.
- New updates or features may take effect shortly after purchase.
- Insurance, taxes and registration fees are higher.
The benefits of buying a used car
- The purchase price is lower overall and may even be lower if you are buying in private.
- Used cars continue to depreciate, but, as a rule, most often during the first two or three years.
- You can sell it at almost the same price you bought it if it is well preserved.
- Insurance rates are usually lower.
Disadvantages of buying a used car
- It can not be as reliable as a new car if you do not buy a certified used car.
- Interest rates may be higher with financing.
- Limited Warranty or No Warranty.
- Higher running costs.
- You can not pre-order a car with features of your choice.
Here is what you should know when buying your first car.
1. Applying for funding
Once you have completed all the homework on the machine you want, and you know that you can afford it, it’s easy to apply for funding. Visit a dealership where a representative for finance and insurance (F & I) can give you advice, explain everything about a loan application and help drive the wheels.
2. There is no such thing as a stupid question.
Dealerships have their own F & I representatives, who are registered with the National Credit Regulator, who will guide you through the entire procurement process. When you go to a dealership to close a deal on your first car, feel free to ask questions if you don’t understand anything. This is your last chance to do this before you subscribe to the dotted line.
How interesting, since it can drop into your new car, be patient and do not rush into the process. Here is another interesting article with a few tips on buying your first car.
3. Know your budget
There is no denying that car payments go beyond monthly payments. You have to be honest with yourself about what you can really afford. Remember to include insurance, fuel and running costs in your budget. If you cannot afford the fuel or maintenance costs for a large 4x4, consider something more economical and affordable. Excellent options currently on the market are the nasty Datsun GO and the gutsy Renault Kwid.
4. Forget about debt
Life is too short to worry about unnecessary debt. If you cannot afford an expensive car, be patient and, if possible, avoid balloons. If you can afford it, rather choose the shortest possible loan term, even if it means that your payments are a little higher. The sooner you pay for your car, the sooner you will be debt free.
5. Insurance is not negotiable.
Before you go on the road in your new car, you need to present a certificate of insurance. If you have an existing cover, just give them your document, and if the dealership arranges insurance for you, they will already have the file.
You need to maintain comprehensive car insurance for the duration of the financial agreement. This not only protects you and your finances, but also gives you peace of mind knowing that you are covered. Your insurance will pay the insurance value of the car if something happens, which means that you do not need to continue repaying on a car that you no longer have.
Think about it when hunting for cars in South Africa:
1. Is it available?
Budgeting is important for many South Africans, because not everyone can afford to pay the current price of new cars, not even at the initial level. or "budget" of them. The used car market offers many good options, but you need to conduct thorough research before you buy anything.
2. How well is it supported?
Maintenance is just as important as accessibility, if not more, since you can always plan and manage monthly payments, but not so much unforeseen service issues.
Most often, a used car no longer has a maintenance plan, which means that the owner of the car must pay for all repairs and services from his own pocket. If possible, choose a car with a full service history (FSH) and a strong national dealer network. Make sure you can afford warranty repairs or services from new tires and blows to the engine or to the gearbox.
3. What is the security level?
Looking back at history, for a long time only the most expensive cars had additional safety features. Currently, airbags, ABS, EBD, impact rods and crumpling zones are more common. Given the increase in the number of fatalities on the roads of South Africa over the past few years, these safety features have become more in demand than luxury.
Do not forget to check the following when buying your first car:
- The condition of all seat belts is strength, intensity and resistance.
- Make sure that all tires have enough tread and do not forget the spare tire. In some cases, you can ask the dealer or seller to install new tires if necessary.
- Check out the horn and all the lights outside and inside the car.
- Make sure the car tool kit is complete and make sure the car connector is in working condition.
- Ask for a car accident report. Some dealers may not tell you about this friend you are asking about.
- Check out the NCAP car safety rating.
4. Is it practical?
Find a suitable and convenient car for you or your child. Make sure the trunk is large enough to hold several suitcases and bags for the weekend. A two-door car may seem like a good idea, but it is impractical. Loading and unloading passengers is not easy, the boot is small, not a large stock of legs.
Think which car will be mainly used and choose accordingly. Will it only be used in or out of college or university, or what about cross-country travel? Perhaps your child is studying technology, construction, or a subject where they may need something more durable and capable of bearing a heavy load at some point.
It is important to not just buy the first beautiful car that you see, since you can get stuck on it for many years. Be smart, be patient and enjoy the ride!
