Buying a car? Read carefully before you sign on the dotted line - Wesbank

The excitement of buying a car, combined with perhaps being presented with information one is unfamiliar with, can sometimes cause consumers to overlook the finer details of what they are actually buying, says Lebogang Gaoaketse, communications, social media and PR manager at WesBank.

This is especially with regard to additional products, also known as value-added products.

"It is important to be as informed as possible, and to be alert to potential dishonest behaviour by dealers who might want to take advantage of your inexperience and lack of knowledge by selling you products you don't want, need or understand," cautions Gaoaketse.

'In some instances, dealers might try to add these into your deal without you realising, or even understanding what they are, so be aware and do not be afraid to ask the relevant questions."

In the case of a new or pre-owned vehicle purchased through a reputable dealer, consumers are likely to be offered a motor plan, service plan or an extended warranty as part of the purchase agreement.

These are insurance-related products and are aimed at protecting you from unforeseen costs down the line such as a vehicle breaking down.

Additional products that may be offered to someone purchasing a vehicle can range from a tyre warranty to cover you against pothole damage to scratch and dent cover. These may vary among dealers and finance institutions.

Other than comprehensive vehicle insurance, these products are not compulsory.

Gaoaketse suggests carefully going through the terms and conditions of any additional products with the finance agent before signing on the "dotted line" This is to avoid any surprises later on.

"Check that any products or services that get offered to you by the dealer, or a bank, are from reputable organisations and are market related with regard to price, benefits and the relevant terms and conditions," says Gaoaketse.

"As a vehicle owner or driver, you are responsible for maintaining your vehicle and ensuring that it is roadworthy and safe."

* Compiled by Carin Smith


We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
15.20
(-0.63)
ZAR/GBP
20.32
(-0.45)
ZAR/EUR
18.12
(-0.61)
ZAR/AUD
11.20
(-0.65)
ZAR/JPY
0.15
(-0.78)
Gold
1809.97
(+0.12)
Silver
23.29
(-0.15)
Platinum
963.00
(+0.40)
Brent Crude
48.73
(+1.57)
Palladium
2368.48
(+2.46)
All Share
57923.69
(+0.31)
Top 40
53084.13
(+0.27)
Financial 15
11645.28
(+0.04)
Industrial 25
79993.34
(+0.20)
Resource 10
52790.93
(+0.35)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
22% - 340 votes
No, I did not.
51% - 804 votes
My landlord refused
28% - 436 votes
Vote