5 tips to consider when buying your first car
There are many factors which can cause financial stress in our lives. It could be a global economic recession, a downturn in our country’s economy or an unexpected situation that may affect you only.
How to buy your first car with motus.cars
Learning how to drive and passing your driver’s licence is a major life milestone. Once you have that little card in your hands – the next step is to get your own set of wheels. Buying your first car can be quite daunting – that is why motus.cars have put together these 5 tips to help you through the process:
1. Do your research before and during the car-buying process
Car-buying research includes searching for the make and model of your desired car and making sure there are not any major consumer complaints, recalls, or safety-related defects.
Just because you like the look does not mean it is a good first-time car. It is important to keep your emotions at bay when researching your ideal first vehicle. Research the costs of fuel consumption, maintenance, and repairs.
2. Establish a budget
Be realistic with your car budget. If you are paying for the car yourself, this is an important time to demonstrate responsibility. While the best option would be to pay cash, usually that is just not possible. Most car buyers need some sort of financing.
Remember that you do not only need enough for the monthly repayments, but you also need to consider insurance, maintenance, registration, repairs and of course petrol. South Africans currently spend more on fuel than on new cars. It may take you some time to figure out what car you can afford, but it is worth it.
3. Look for Certified Pre-Owned vehicles
Certified pre-owned vehicles are the best kind of used car you can buy. Instead of buying a new car, visit your nearest Motus car dealership and let them assist you in finding a pre-owned vehicle that’s fully certified and right for you.
4. Inspect the car, inside and out
In addition to a visual inspection of the inside and outside of the vehicle, you will want to take it for a test drive. Now is the time to find out the history of the vehicle – remember to ask questions like:
- How old is the vehicle?
- What mileage has it done?
- Does it have a full-service history?
5. Secure financing
When financing your new vehicle, try to put at least 20% percent down. This makes it a lot less likely that you will default on your loan. The more money you put down, the more secure your purchase will be and the less your monthly repayments will be.
Use this handy calculator to work out what your repayments will be. Before you approach a bank for a loan, check with the dealership. They often have better financing options if you are purchasing the car from them. And since all the payments and purchases come from one place, it makes things a lot simpler.
Visit motus.cars for more info, or join the conversation on Facebook, YouTube Twitter.
This post and content is sponsored written and provided by motus.cars.