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Also, they spend an average of 10-15 hours doing so. In your case, it might take less or even more than that. It’s time to decide what you’d want in your vehicle. On top of the servicing costs of the car, we also have the annual insurance costs. We have so many car dealers in this country and some are conveniently online such as so before you set out to buy that car, compare prices. 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. This type of technology can be very beneficial. In fact, that’s the main reason why there are so many models and makes on the market. It’s an opportunity to evaluate factors like acceleration, handling properties, comfort levels, and the in-vehicle technology. 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. Do your homework throughout this process. That doesn’t also suggest that dealers will simply give the cars away. Are you in the process of buying a new car? In case your record features accidents and tickets, you’ll pay more. Car salespersons might turn your pockets inside out, why? We can’t guarantee that you’ll get the best deal on a car purchase. That’s why we’re here. We look at five essential factors you should look at before buying a family car. Everyone has their set of requirements. Buying a car is for many, one of the biggest purchases they will ever make. What if you’re leasing or financing? Having a budget will also help you narrow down to the kind (new or used) and brand of car that you want. For instance, there are cases where you’ll seek online reviews of a dealer you’re considering only not to find any. comprehehensive car insurance quote in Kenya, All New Full Electric Tesla Model 3 For KSH 3,000,000, Common Financial Mistakes Young Kenyans Make. 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. This can be done through the Kenya Revenue Authority and the National Transport and Safety Authority. 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. Spending hours, days, and months researching reviews and comparing smartphones or laptops isn’t a cost-effective means to spend time, is it? But, that’s a surefire way to retire broke is foolishly wasting money on a car. Simple, talk to people! First, you ought to establish your budget before doing anything else. 0800723340 They take an average of 4-6 months to make the decision about which make and model they’ll purchase. In case it does, finance your new car through that dealership. Now, you’ll get serious about purchasing your selected vehicle. 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? It also makes it easier to know whether to buy a new or a used car or to opt for leasing one. You won’t be required to do any of that stuff if you trade the car in. 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. They’ll do so immediately they realize that your sole focus is on payment. So you have narrowed down on the car that you want and are comfortable with its pros and cons. 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. Once you’ve reached and completed up to this step, you can smile since the hard part is over. Depreciation (losing value) Good credit will enable you to access low-interest rates. You should work out a budget and plan. While he provided a list of factors to consider before making the final decision, most fall into four basic categories: 1) your company’s financial status, 2) how you intend to purchase the vehicle, 3) what type of vehicle you want, and 4) whether it makes sense tax-wise. For example, let’s assume you’re single without any plans of getting married. 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. A new car is at the very peak of its value. It is a great step you are taking when you decide to purchase a car. Most cars these days will go 50,000 miles or better without any serious technical issues and many of the initial buyers will get out of them at about that point. There are other amounts to factor in here, as well. Car dealers want to sell cars to stay in business. First, ensure that you’re aware of what your credit rating is. 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. With so many different options out there, it can be challenging to make a decision. The availability of spare parts and servicing greatly influences the costs involved in running the car. Luxury brands like Mercedes have both availability of spare parts and servicing from the manufacturers. As well, the model, make, and kind of car you intend to insure will be accounted for. For example, $400 a month for 48 months will buy you a $25,000 car, assuming a $3,000 trade in, a $4,000 down payment, and a low interest rate. We highly advise that you seek multiple quotes from different companies. You’ll relate your wants with various factors. This also requires a bit if research to help you understand the difference between buying a new car and buying a used one. Will you have a surplus to sustain y… Also, there’s no set price point to negotiate towards with any car! What factors are considered when buying a new car? For instance, consider checking out and 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. Find out how different dealers have priced the car that you want. Taking these two factors into consideration, choosing a brand that is known to have a good resale value is the smart way to go forward. Then, you should understand how the amount you’d afford each month translates into a car’s price. 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. This post may contain affiliate links. Fuel is the main running expense for any motor vehicle owner although the emergence of hybrid and electric cars is starting to take shape. Making smart decisions throughout the entire selection and buying process is inarguably crucial! Take keen notes. If you are purchasing your car with a hire purchase loan, consider your loan eligibility. It might feel great to commute in style and impress those around you. Choose which loan works for you. From your requirements to your budget, there are plenty of factors to consider before you commit to a purchase. Therefore, you ought to select something which will meet your specific needs. They’ll then narrow down the potential choices to 3-5 models. We are still in the age of fuel and diesel cars of the combustion engine since its invention in 1876 by Nikolaus Otto. You thus ought to obtain a new car for a price that’s closer to the invoice, rather than to the MSRP. Most people cannot buy a car in cash and the best option is to borrow a loan. First, cars are known to be depreciating assets and second, they are bound to be upgraded in a few years. Nairobi, Kenya In 2018, Statista conducted a survey in which they asked their users in the UK and America the key influencing factors that went into making their decisions when choosing a new vehicle. Yes, one thing to consider is to purchase a family vehicle and that calls for a lot of factors to consider. Look out for car bazaars like the one on every Sunday at the Jamhuri Park along Ngong Road. Then, you’d simply need to go for a car that you can afford. In fact, dealers are known for not availing all discounts available to them. Also, it’s the chance to see the cars up close and compare the different color choices available. Worry not, though. Similarly, you might receive coupons in your mail which entitle you to such rebates. Know the much you can spend on a car. Please refer to our Terms and conditions on this website. Three Important Factors to Consider When Choosing a Car With nearly 300 different new car models available for sale, choosing one can be quite overwhelming. On the contrary, you’ll pay high-interest rates if you’ve got poor credit. They’ll know that you mean business! But, that doesn’t imply that it’s now an easy time to purchase a car. Rhapta Road Important Factors to Consider When Buying a New Car. Even if the second car you drive feels like the right one, it's not worth writing the others off. Determine if the dealership beats your pre-approved rates. As a result, financing, trade-in values, and rebates are currently the best we’ve had for so long. This is because the second hand cars may not have their manufacturer presence in the country. Buying a car will impact your ability to save. First, cars are known to be depreciating assets and second, they are bound to be upgraded in a few years. Obviously price is a starting point, but to help you narrow down your choices further, you need to focus on the following three factors: Quality, Cost of Ownership, and Reliability. Like anything else, have a budget in place to help you get that car. Also, put these guidelines into action. The dealer will know that you are expecting a good deal. There are a lot of things to consider when buying a new car, including safety, driving comfort and price. image credit, Dodge. Tips on buying a new car – Things to consider when choosing a new car It is only when you understand the purpose behind buying a car, that you will be able to choose the right type to be it an economy, family, luxury, sports, or an off-road vehicle. That’s not all. Maybe, you belong to an organization(s) that entitles you to additional rebates. Next, you should look up that car’s invoice price. In fact, that’s a reassuring sign that you will win the bet at hand. But, typically, they’re less likely to go down than up. You’re aware of what you need and want. Multiple websites allow customers to post reviews of the various dealerships available. These are the standard features which must be applied to all cars starts from 2017 imported or local made according to global NCAP till 2020. This is perhaps the most factor to consider when buying a car especially the second hand cars. The struggles and hurdles facing the auto industry are unprecedented; so are the deals availed to potential buyers. That’s because the dealer assumes all the hassle associated with reselling the car. This is because the second hand cars may not have their manufacturer presence in the country. Cars eventually die and require replacement. No, they don’t purchase new cars like they’d buy clothes. In India, most car owners buy a car insurance policy because it is an obligation. Research on the different pros and cons of different kinds of cars before you set out to buy that car. 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