This question can also help you make up your mind on if you really need a car or not because letâs be honest, a car will bring with it added monthly expenses so can you afford it? This can be done through the Kenya Revenue Authority and the National Transport and Safety Authority. You are likely to purchase multiple vehicles over a lifetime. If you have five candidates on your list, test all five. 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. You may have saved for the car or you could consider taking a loan. First, you ought to establish your budget before doing anything else. 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. 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. What do you do, now? In fact, thatâs the main reason why there are so many models and makes on the market. Will you have a surplus to sustain y… They take an average of 4-6 months to make the decision about which make and model theyâll purchase. What if youâre leasing or financing? Maybe you intend to replace your old ride with a new one. This does not just include the monthly instalment but also cost of petrol, toll and parking, which are parts and parcels of car ownership. People, in general, do not compare car insurance policy and base their buying decision based on the low premium cost. 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. The struggles and hurdles facing the auto industry are unprecedented; so are the deals availed to potential buyers. Also, consider things like reconditioning, price negotiation, and ownership transfer. In such cases, youâll need to establish the amount you can comfortably afford to pay every month. Youâll relate your wants with various factors. Take a look at your monthly commitment, and consider how much you can afford to pay for your car every month. 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. We highly advise that you research the dealers. 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. A new car is at the very peak of its value. From your requirements to your budget, there are plenty of factors to consider before you commit to a purchase. Theyâll know that you mean business! Itâs thus vital that you get your choice right. Therefore, you ought to select something which will meet your specific needs. But, typically, theyâre less likely to go down than up. Now, negotiate with your dealer. You’ll thus be likely to win the best deal possible. If you are purchasing your car with a hire purchase loan, consider your loan eligibility. If so, youâll then need to determine whether youâll sell the vehicle on your own or trade it in at the dealership. Are you in the process of buying a new car? 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. What do we imply by the term âinvoice priceâ? It was status symbol that only a few could afford and the others aspire to. However, make sure not to pay for technology and features that you will not use. 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. At the end of the day there are a few reasons to treat a new car purchase pretty seriously – not impulsively like I personally did in 2014. You should work out a budget and plan. Itâll help you to plan the car financing options available better. Making smart decisions throughout the entire selection and buying process is inarguably crucial! You don’t always have the same safety nets you would have if you buy a new car. Pricing varies with age, content, demand, and supply. Depreciation (losing value) Everyone has their set of requirements. But, ensure to factor in the registration fee and the sales tax on your purchase. Thatâs why weâre here. People don't buy cars like they buy microwave ovens. In case it does, finance your new car through that dealership. Even if the second car you drive feels like the right one, it's not worth writing the others off. On top of the servicing costs of the car, we also have the annual insurance costs. As a result, financing, trade-in values, and rebates are currently the best weâve had for so long. Youâre more likely to acquire money for the old car if you sell it on your own. Total costs of ownership add up quickly. Theyâll then narrow down the potential choices to 3-5 models. In no particular order, the biggest factors to consider before purchasing a vehicle include: Your debt to income ratio. The availability of spare parts and servicing greatly influences the costs involved in running the car. 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. These, and many more, are just some of the fun features to consider when looking for a new family car. This sounds like a silly question to ask yourself before buying a car but it is an important one. The second question you need to ask yourself is, do you want a brand new car or do you want a used car. First, cars are known to be depreciating assets and second, they are bound to be upgraded in a few years. Nearly 50% of all car buyers choose a new car based on their previous experience with another make or model. You can find excellent loan rates at some websites. In fact, a new car is the 2nd most costly item most people. Any future home purchases. In turn, that makes for a strong buyersâ market. However, youâll endure all the hassle that accompany advertising, arranging for test drives, and the necessary paperwork. Also, they spend an average of 10-15 hours doing so. It is no lie that having a family is such a great thing, however, that means you need to consider the needs of your entire family. Multiple websites allow customers to post reviews of the various dealerships available. Used car shoppers may be armed with a Kelly Blue Book or the Canadian Black Book to help determine a ball park figure, but it’s factors like mileage, wear … Purchase from a fair and cooperative dealer. Still, there are remaining crucial steps to take before making any deal. Buying a car is for many, one of the biggest purchases they will ever make. We look at five essential factors you should look at before buying a family car. 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. 0800723340 Itâs real. Know why you want a car and research on the best one to fit that purpose. So you have narrowed down on the car that you want and are comfortable with its pros and cons. For obvious reasons, a good, clean record would be preferable to an insurer. Even with rebates, discounts and negotiation, you will be paying top dollar. Similarly, theyâll have different wants. Theyâll do so immediately they realize that your sole focus is on payment. While vehicles may play a part as wealth creators, they can also be wealth destroyers. They should tell you whether they were happy with the dealer and the car. Then, youâd simply need to go for a car that you can afford. Good credit will enable you to access low-interest rates. Also, thereâs no set price point to negotiate towards with any car! 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. There is a thing called a perfect car. But, that’s a surefire way to retire broke is foolishly wasting money on a car. Itâs time to decide what youâd want in your vehicle. 1st Floor, Rhapta Heights, But, people donât purchase cars like they buy household items. In turn, that promises long-term satisfaction with the purchase youâre about to make. 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. Establishing your budget for a set of wheels will be easy when paying cash. In fact, how would you do that and expect to win the best possible deal? You thus ought to obtain a new car for a price thatâs closer to the invoice, rather than to the MSRP. When looking for a new car, the world is your oyster. Such include styling, color, reliability, technology, fuel economy, comfort, capacity, and so on. Please refer to our Terms and conditions on this website. Some dealers can help you get the right financing for your car and help you with the paper work that is needed. Most people cannot buy a car in cash and the best option is to borrow a loan. Try to book the car for 24 hours if you can so it's thoroughly tested. 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. Youâll require something safe and roomy in case youâre planning to become a parent or are one. Thatâs not all. Choose which loan works for you. Itâs vital to define the differences between your needs and wants. No matter how low your EMI may be, if the car doesn’t have good mileage, you will end up paying more. There are two universal facts about buying a car that everyone needs to remember. Any car which fulfils your needs is perfect for you.For what purpose you require a car, how often you drive it, whether you need a smooth or rough car- you should consider these things before even looking for the car options. Cars eventually die and require replacement. Next, theyâll look up reviews, prices, and factor in rebates and incentives. That is why owning a car can eliminate at least a million dollars in future value from a retirement account. Do your homework throughout this process. One of the most notable factors in buying a new car may be the safety devices, features, and technology. Rhapta Road In fact, dealers are known for not availing all discounts available to them. 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. Find out how different dealers have priced the car that you want. Ensure to be realistic about the old carâs condition. Factor in the price of insurance, fuel, and maintenance when estimating the amount you need for your new ride. Very few people pay cash. This post may contain affiliate links. But again, have fun while youâre reading and learning! Itâs not yet time to head to the dealerships, yet. In India, most car owners buy a car insurance policy because it is an obligation. This type of technology can be very beneficial. Luxury brands like Mercedes have both availability of spare parts and servicing from the manufacturers. But, that doesnât imply that itâs now an easy time to purchase a car. In honour of February, then, here are 10 things to think about as you prepare for and execute a new car buy: 1. Of course, weâre not talking about their name. If you’re in the market for a new car, you may feel overwhelmed by all of the factors that you need to consider. 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. Important Factors to Consider When Buying a New Car. This is because the second hand cars may not have their manufacturer presence in the country. Car salespersons might turn your pockets inside out, why? There are other amounts to factor in here, as well. On the other hand, thereâs the Manufacturerâs Suggested Retail Price, often known as the âstickerâ price. Those seeking something completely different to drive will compare vehicles. You can easily make use of your pre-approved loan as a baseline against which your dealer will compete. Try your best not to roll a balanced upside down loan into a new one only because youâre tired of the old car. You should then let the dealer know that youâre aware of that carâs invoice price. 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. 4 factors to consider when buying a family car. Like anything else, have a budget in place to help you get that car. Do the research: Of course this is a hoary bit of advice, but it holds true every time. Here, youâd be staking thousands of dollars. Car dealers want to sell cars to stay in business. Know the much you can spend on a car. Youâve found your perfect car. comprehehensive car insurance quote in Kenya, All New Full Electric Tesla Model 3 For KSH 3,000,000, Common Financial Mistakes Young Kenyans Make. Look out for car bazaars like the one on every Sunday at the Jamhuri Park along Ngong Road. Also, theyâll consult ratings and make comparisons. So, in case your credit is poor, be prepared to pay more each month. As well, decide on your mode of payment. But, following the above guide will get you in the right direction. The sky is quite seriously the limit. Likewise, donât purchase a new Lexus model just because you can eventually afford it if you obtain a 5-year loan. In fact, thatâs a reassuring sign that you will win the bet at hand. You wonât be required to do any of that stuff if you trade the car in. What factors are considered when buying a new car? Youâre confident that itâll fit your budget. Most people tend to finance, while others opt for leasing. Yes, cars eventually wear out and prompt for replacement. In fact, they qualify for some rebates that arenât even made public. Wait, thereâs the bad news. First, ensure that youâre aware of what your credit rating is. You can then file an application for a pre-approved loan. At this point, itâs time to visit various dealerships and conduct test drives. The driving record is a primary factor that determines how much youâll pay. Next, ensure that youâve received them. There may be similar cars that you can purchase that is budget friendly. Through research, you will also find out if the spare parts of the car you want are readily available or not. If youâre not aware, then you ought to find out. Strive to get an amount close to the average âbook valueâ from the dealership. 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. PESABAZAAR.com If it’s a just-launched/popular model, expect to pay full MSRP sticker. The Choice of a New Car: 5 factors to consider while buying a new car in India Jul 29, 2019 Jul 29 • Auto Mode Buying a new car is quite an event in India, especially for a middle class family. Next, you should look up that carâs invoice price. Buyers should choose vehicles with features that meet their needs but avoid extra features are unnecessary. For example some are open to trade-ins just in case you are looking to up-grade from your old car. 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. You should always consider the additional ownership costs when buying a brand new car. In fact, the preparation should begin even before you set foot in that showroom. Buying a used car can be risky. November 22, 2013 By Michelle 3 Comments. Various studies have found that 80% of car buyers make use of the Internet to research about vehicles. Itâs thus a wise thing to know all rebates which you qualify for. Many buyers qualify for rebates. 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. Once youâve reached and completed up to this step, you can smile since the hard part is over. Pesabazaar.com is authorised and regulated by the Insurance Regulatory Authority of Kenya. Research on the different pros and cons of different kinds of cars before you set out to buy that car. Youâre aware of what you need and want. Licence Number : IRA/05/30639/2016. This also requires a bit if research to help you understand the difference between buying a new car and buying a used one. In turn, that will save you headaches and a significant deal of money. A new car is an investment; it’s something that you will use for many years, meaning that you should carefully choose your car. For instance, there are cases where youâll seek online reviews of a dealer youâre considering only not to find any. 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. Unfortunately, there are countless horror stories about people who did not do their homework when it came to this type of purchase. It also makes it easier to know whether to buy a new or a used car or to opt for leasing one. In case your record features accidents and tickets, youâll pay more. Other factors considered include age, gender, common location of driving and your marital status. Are you buying a new car? In case your record features accidents and tickets, you’ll pay more. Worry not, though. This is perhaps the most factor to consider when buying a car especially the second hand cars. Also, put these guidelines into action. A vehicle is a big investment so it’s important to do your research before you commit to a purchase. This means if you make a purchase, I may receive a commission at no cost to you. The availability of spare parts and servicing greatly influences the costs involved in running the car. petrol vs diesel car india 2020 petrol vs diesel car petrol or diesel car better petrol car or diesel car best car Web Title : petrol vs diesel car: what are the factors to consider while buying a new car Bengali News from EI Samay , TIL Network 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. It is a great step you are taking when you decide to purchase a car. Thatâs because the dealer assumes all the hassle associated with reselling the car. Now, youâll get serious about purchasing your selected vehicle. Simple, talk to people! For that reason, weâll ensure that this guide makes you fully prepared for this potentially daunting experience. Discuss the options youâve with your current credit union or bank. Factors to Consider When Buying a New Car. On the contrary, youâll pay high-interest rates if youâve got poor credit. It’ll depend on your creditworthiness. It refers the price the dealer pays the manufacturer for a car. 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. Also, consider the costs to insure the vehicle, which may be more than you anticipated. Owning a personal car was once a preserve for only the very rich. The dealer will know that you are expecting a good deal. email@example.com. Consider them with a high degree of seriousness. 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