Read this before buying a new car

Before you buy a new car, there are a few things you need to know. We’re here to spill the beans.

 Consider buying a good used car or demo model

If you’re cost-conscious, consider buying a good used car or demo model – that way someone else has absorbed the depreciation costs and you get to simply enjoy your car.

If you do plan to buy a new car, first check the car’s depreciation rate. There are a lot of online calculators where you could check your car’s depreciation rate, simply Google ‘car depreciation rate calculator’. This can be helpful when deciding between two similarly priced cars, as you may want to choose the car with a lower rate of depreciation.

 Research, research, research

Buying a car without doing research first is like going shopping for groceries when you’re really hungry, without a shopping list.

First, go online to check out any reviews on the make and model – not only in South Africa but all over the world. Ask your friends and family what they think of the car, and don’t forget to chat to a qualified professional too. Certified mechanics who are not affiliated to the dealership might be able to share some valuable information.

Don’t forget that a thorough test drive is also part of your research. Test drive more than one car, drive on the highway, drive on quiet suburban roads – even take passengers along with the drive.

In most cases, you’ll be stuck with the car you buy for quite a while, so you might as well take the time to do your research.

 Don’t be seduced by the “extras”

Decide on your budget before you get to the dealership, and don’t be seduced into those extras. Remember, that a car costs more than those monthly instalments – you need to factor in insurance, maintenance and fuel costs. Did you know that MotorHappy offers comprehensive service plans and maintenance plans? Contact our team, let us know what your budget and your needs are, and we will find the best possible deal for you.

Remember, it’s the car salesman’s job to try sell you some extras that you probably don’t need.

 Wait! Before you sign, look at those numbers again!

Pay attention to the financing terms. It makes no sense to negotiate the price down, but then pay more long-term. If you’re buying a car through financing, shop around for a good loan. You can either take out a finance agreement that will result in your car being paid off at the end of the term (e.g. 60 or 72 months), or you can lower your monthly instalment by opting to have a balloon payment at the end of this period. This will be an amount that you’ll still owe at the end of your financing period. You can then either sell your car to pay off this amount, or re-finance it and take out another loan, assuming you don’t have the money available to pay it off yourself.

 Did you know that we sell cars, too?

MotorHappy has thousands of previously-loved makes and models available on our website. (Click here to start browsing used cars.) All models undergo a stringent 116-point Quality Assurance Check. Added to that, we can help you find the best possible quotes for Service Plans, Maintenance Plans, Extended Warranties, and Insurance – we really are your one-stop shop for everything car related.

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