7 Factors To Consider Before Buying A CarPosted on 2018-02-13
Owning a personal car was once a preserve for only the very rich. It was status symbol that only a few could afford and the others aspire to.
This has however changed over the years with more and more car brands competing for sales hence bringing the cost of cars relatively low depending on the brand you want. Owning a car in this day and age has become a necessity especially with a growing middle-class that has more disposable income.
To put it into perspective, there were 85,063 cars imported into the country in 2017 which was a actually a drop from 2016 which saw approximately 109,781 come in.
Everyone now wants the convenience that comes with having a car but getting one is not like picking a packet of milk from the supermarket. You have put a few factors into consideration before buying a car.
Do Your Research
New Car or Used Car
What is Your Budget?
Why You Need a Car
Spare Parts and Servicing
Fuel Consumption and Engine Size
There are at least over 10 different brands of cars popular in Kenya and if you have been thinking of buying some new wheels then you have quite a variety to choose from. All these different brands have different sub-categories of cars under them making it a wider field to choose from.
It is therefore very important to do your research on the brand of that you want. Research on the different pros and cons of different kinds of cars before you set out to buy that car.
Doing you research will also help you determine if you can not only afford your dream car but that you can also afford the cost of maintaining it from the servicing, parts, security, style and car insurance in Kenya.
Through research, you will also find out if the spare parts of the car you want are readily available or not.
So you have narrowed down on the car that you want and are comfortable with its pros and cons. The second question you need to ask yourself is, do you want a brand new car or do you want a used car.
This also requires a bit if research to help you understand the difference between buying a new car and buying a used one. For example, it is important to know that cars depreciate in value so if you buy a new car, the value of that car immediately goes down in value the minute you drive it from the dealer.
What this therefore means is that, if as you bought a car that is two or three years old, or even five, it will be much cheaper than buying the brand new version of it.
If you do decide to buy a used car, again, do your research on to know what information you need before buying a used car. For example, before you buy that used car, make sure you find out just how many miles it has done before you are cheated into buying a much older car.
Through research you will also learn that it is important to have a car inspected before buying it and especially a used one to avoid buying junk in the name of car.
If you buy a used car, it also important to make sure that you have cross-referenced the ownership details. This can be done through the Kenya Revenue Authority and the National Transport and Safety Authority.
Like anything else, have a budget in place to help you get that car. Cars do not come cheap so you need to have a clear plan on how you will pay for that car, be it new or used.
You may have saved for the car or you could consider taking a loan. If you do take the latter, then you also need to have a plan on how you will repay the loan which is actually a debt.
Having a budget will also help you narrow down to the kind (new or used) and brand of car that you want. The budget should also including all the other fees that will come with owning a car such as registration, the cost of servicing or changing something about the car and insurance premiums among others.
This sounds like a silly question to ask yourself before buying a car but it is an important one. Why this question is important is because it will help you decide on the kind of car you want so that its serves its purpose well.
Do you want a car to move from one point to another, do you want one for ease of movement for your family or do you want one for business. Know why you want a car and research on the best one to fit that purpose.
This question can also help you make up your mind on if you really need a car or not because let’s be honest, a car will bring with it added monthly expenses so can you afford it?
This is perhaps the most factor to consider when buying a car especially the second hand cars. This is because the second hand cars may not have their manufacturer presence in the country. The availability of spare parts and servicing greatly influences the costs involved in running the car. Common brands like Toyota have continued to excel in the Kenyan market because of the availability of cheap spare parts and technical expertise in garages and service centers. Luxury brands like Mercedes have both availability of spare parts and servicing from the manufacturers. On top of the servicing costs of the car, we also have the annual insurance costs. A comprehehensive car insurance quote in Kenya can be as high as 5% of the value of the car, this works out at an average of KSh 40,000 per annum which is a hefty expense for any car owner. Going for cheaper and common brand cars will save you more money on the insurance, spare parts and servicing.
We are still in the age of fuel and diesel cars of the combustion engine since its invention in 1876 by Nikolaus Otto. Fuel is the main running expense for any motor vehicle owner although the emergence of hybrid and electric cars is starting to take shape. With the increasing cost of petrol now at KSh 103/litre, it can quickly bite into your pocket. Starting at 800 cc, vehicles on this capacity can do up to 25km per litre such as the Suzuki Alto being used currently for Uber Chap Chap in Nairobi. Many car lovers want power but this will come at a cost, the big fancy machines like Land Cruiser V8 will be rated at 4700 cc and at 5.5 km per litre.
We have so many car dealers in this country and some are conveniently online such as cheki.co.ke so before you set out to buy that car, compare prices.
Find out how different dealers have priced the car that you want. Look out for car bazaars like the one on every Sunday at the Jamhuri Park along Ngong Road. This research on the different dealers out there will also help you get information on the different incentives they have. For example some are open to trade-ins just in case you are looking to up-grade from your old car.
Some dealers can help you get the right financing for your car and help you with the paper work that is needed.
It is however also important to research on the dealer you set your sights on to ensure you are not going to be a victim of a con.
Bottom line is, do you research on every step you take to buy that car to make sure you have made the absolute best decision on each step.