Buying a second hand car
Considering a Used Car or second hand vehicle? Before buying pre owned automobile, consider your affordability, and start with a monthly budget. A general rule of thumb -don't exceed 25 % of your gross salary. With the CPA in mind, consider all costs, including car insurance, as well as maintenance costs before buying a used vehicle or second hand car, such as wear and tear. You can buy a used or second hand vehicle, without a deposit; though ideally you want have a ten percent saved or more to bring the monthly repayments' on your used car down on the second vehicle you're purchasing. Ideally you want to purchase a pre owned car, with a solid warranty or one you can purchase a warranty for. As with any used cars for sale, always make allowances for unplanned maintenance issues, and ensure that you have available cash or facilities for any unplanned eventualities.
Does the pre owned car for sale meet my current needs?
Vehicles, and especially used cars, are hugely personality driven. Best to decide on what's a need, then secondly on what the wants .Even if you have a used automobile or motor car in mind, consider all car brands, the features they offer, and how best it suits your financial needs. Also consider that, at various times, different vehicle dealers or car dealerships have specials on various used cars respectively. Also consider that the bulk of the car sellers, as well as later cars, have little differentiation in respect of the warranty terms they offer on second hand cars. Search sites such as, www.cars4sa.co.za, for a comparative analysis of the various used and new car offerings. This site offers ways to search for used cars using a variety of search tools. Buying a used car is also more affordable than buying a car with a balloon payment. What is a balloon payment? A balloon payment, or residual payment, is a payment paid only at the end of the loan period and you continue to pay interest on it. This amount is usually 40% of the purchase price and is unadvisable for first-time car buyers and anyone who cannot afford to pay the lump sum at the end of the load contract.
Used Car Pricing
Used Car pricing today is determined by a number of key factors:
The Market Value (or Retail Price)
The retail price of used vehicles is based on their year model, general condition, service history and kilometre reading and is supplied to the retail motor industry by TransUnion through their publication- the Auto Dealers’ Guide.
Their information is based on more than four decades of researching vehicle valuations, and is now the industry standard.
Over 40, 000 vehicle returns are received monthly from manufacturers, dealer groups, and franchised and non-franchised dealers across South Africa and this data is analysed and interpreted by an experienced team of independent, specialist editors to ensure that the values are accurate in a constantly fluctuating market.
Popularity and Availability
More popular used cars are generally sold at a premium price in South Africa.
In general, second hand cars typically represent an opportunity to buy a car or bakkie at a discounted price of a new car.
In conducting your research read as many car reviews as possible, examine specifications on the car you would like to buy and most importantly, test-drive your choices before making any decision.
Remember, our network of used car dealers is simply a click away to find the car of your dreams.