NEW YEAR, NEW CAR? TIPS TO CONSIDER

Tuesday, January 10, 2017

According to Frost & Sullivan, key automotive manufacturers BMW, Toyota, Volkswagen and Ford have all expanded their investment in South Africa’s automotive sector, increasing their operational and manufacturing capacity1.

“This is great news for South Africa’s economy and the increase in manufacturing capacity will certainly create more jobs, but as this does not mean a decrease in vehicle costs, people will still need to make certain considerations when looking to purchase a new vehicle,” says Derek Wilson, Head of online quote comparison platform, Hippo.co.za.

  • As with any new purchase, always plan ahead by assessing what you need in a car. For example, do you need it only for driving to work and back or do you need it for travelling and leisure? Do you need extra space for kids, dogs, shopping or luggage? Will this car suit your lifestyle for the next two to five years?
  • Once you have taken these factors into account consider your budget and make use of an online vehicle finance calculator to determine what you can afford, under which terms, and also consider service fees and costs for parts should the vehicle need repair.
  • Look into where you are purchasing your vehicle. Ensure that the dealership is reputable and has good reviews as there will not be much you can do should you experience problems with the vehicle after the deal goes through and contracts have been signed. Look at Car Listings platforms where you can compare new and used vehicles from a range of South African dealerships.

“It is also important to note that insurance cover is compulsory when buying a new car that will be financed,” concludes Wilsons, “We always advise motorists to compare Car Insurance online first before they make a decision.”

Sources:

  1. http://ww2.frost.com/index.php?cID=18676
  2. https://www.comparethemarket.com.au/car-insurance/guides/10-trusty-tips-new-used-car-buyers/


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