FIRST-time car buyers always find it hard to decide if they should buy a new or used vehicle.
The question is: what to buy, a new car or a pre-owned car that has been well cared for and maintained by its previous owner?
Apart from the cost implications, there are advantages to owning either a new or a used car.
A new car comes with no prior history, which means you are in full control of how well it’s driven and maintained.
You’ll also have options such as maintenance plans and warranties from the manufacturer, a definite plus for managing costs and risk.
“You need to do your homework and understand what these plans include and exclude,” said WesBank communications specialist Kutlwano Mogatusi.
“Used cars already have a driving history. Look for a used car where the previous owner has kept a detailed service history and ask questions about the current condition of the car.
“Ask if there any issues you should be aware of or if the car has been involved in an accident.
“If the car is in good condition and the mileage is reasonable for its age, a used car could be a very good buy in the long term,” Mogatusi said.
As a first-time buyer, there are many things to consider when making this big purchase.
Affordability may be the most important factor to consider when deciding what car to buy, and the reality of adulting is that you need to buy within your budget.
Another hurdle you might encounter is a lack of credit history if you have only recently entered the job market. Under normal circumstances, this could be a negative consideration when applying for vehicle finance to buy your chosen car.
“But with the WesBank Graduate Finance offering, your credit score is one less thing to worry about.
“The application process to check affordability and get approval for a vehicle finance deal can be done online, and it only takes a few minutes,” says Mogatusi.
You also need to remember that there are more costs involved when buying your first car than the monthly repayments.
While the right time to buy your first car could be now, affordability is key.
Make sure you consider all the expenses that come with independent mobility and act responsibly when making the financial commitment.
