Everyone has their set of requirements. Thatâs not all. Luxury brands like Mercedes have both availability of spare parts and servicing from the manufacturers. Nairobi, Kenya Even if the second car you drive feels like the right one, it's not worth writing the others off. The struggles and hurdles facing the auto industry are unprecedented; so are the deals availed to potential buyers. In honour of February, then, here are 10 things to think about as you prepare for and execute a new car buy: 1. Thatâs because the dealer assumes all the hassle associated with reselling the car. Now, negotiate with your dealer. Once youâve reached and completed up to this step, you can smile since the hard part is over. Of course, youâve neighbors, family, and friends all around you whoâve purchased cars. You are likely to purchase multiple vehicles over a lifetime. The availability of spare parts and servicing greatly influences the costs involved in running the car. From your requirements to your budget, there are plenty of factors to consider before you commit to a purchase. While it can be a very exciting time, it’s important to not let the excitement get the better of you so that you make a potentially expensive mistake. Wait, thereâs the bad news. 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. So, in case your credit is poor, be prepared to pay more each month. It nice to want the finer things in life, however, you have to select a car that is budget friendly. Other things to consider before buying a new car are here in this article which explain in details in tips of buying a car. Strive to get an amount close to the average âbook valueâ from the dealership. In no particular order, the biggest factors to consider before purchasing a vehicle include: Your debt to income ratio. Different individuals will have different needs for a car. As well, decide on your mode of payment. Most people cannot buy a car in cash and the best option is to borrow a loan. Donât walk into any dealership without having done research. 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. Never extend a car … Take keen notes. Sometimes, these sitesâ coverage might be spotty and incomplete. Purchase from a fair and cooperative dealer. When looking for a new car, the world is your oyster. Then, youâd simply need to go for a car that you can afford. Also, consider things like reconditioning, price negotiation, and ownership transfer. 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. In fact, thatâs a reassuring sign that you will win the bet at hand. We are still in the age of fuel and diesel cars of the combustion engine since its invention in 1876 by Nikolaus Otto. Keep in mind that gas prices are highly volatile. Determine if the dealership beats your pre-approved rates. Youâll relate your wants with various factors. Itâs real. There are many things to consider before making your final choice about what vehicle to buy. Nov 8, 2015 by Jasmine Watts. 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. It was status symbol that only a few could afford and the others aspire to. Theyâll do so immediately they realize that your sole focus is on payment. New cars cost more than used cars. The fact is that most affluent car buyers seldom keep a new vehicle long enough to fully experience the long-term costs associated with sophisticated, high-tech vehicles. If you have five candidates on your list, test all five. Other factors considered include age, gender, common location of driving and your marital status. On top of the servicing costs of the car, we also have the annual insurance costs. Simple, talk to people! People, in general, do not compare car insurance policy and base their buying decision based on the low premium cost. If it's more or less, so be it. This is because the second hand cars may not have their manufacturer presence in the country. The dealer will know that you are expecting a good deal. Look out for car bazaars like the one on every Sunday at the Jamhuri Park along Ngong Road. 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. PESABAZAAR.com Any future home purchases. You can look up the âbook valueâ of the trade in using different resources. Youâve found your perfect car. Important Factors to Consider When Buying a New 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. Very few people pay cash. 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. Even with rebates, discounts and negotiation, you will be paying top dollar. So you have narrowed down on the car that you want and are comfortable with its pros and cons. Insurers examine several factors to set insurance premiums. Similarly, theyâll have different wants. Pricing varies with age, content, demand, and supply. With the increasing cost of petrol now at KSh 103/litre, it can quickly bite into your pocket. 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. 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. Now, you already know the car thatâs right for you. For instance, there are cases where youâll seek online reviews of a dealer youâre considering only not to find any. Multiple websites allow customers to post reviews of the various dealerships available. In turn, that makes for a strong buyersâ market. Youâre confident that itâll fit your budget. 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. In fact, the preparation should begin even before you set foot in that showroom. Good credit will enable you to access low-interest rates. Buying a car is for many, one of the biggest purchases they will ever make. Factor in the price of insurance, fuel, and maintenance when estimating the amount you need for your new ride. 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. In fact, how would you do that and expect to win the best possible deal? Yes, cars eventually wear out and prompt for replacement. Rhapta Road Spending hours, days, and months researching reviews and comparing smartphones or laptops isnât a cost-effective means to spend time, is it? They take an average of 4-6 months to make the decision about which make and model theyâll purchase. Many buyers qualify for rebates. Theyâll then narrow down the potential choices to 3-5 models. Weâll inform you about all youâd require knowing before purchasing that car. First, cars are known to be depreciating assets and second, they are bound to be upgraded in a few years. But again, have fun while youâre reading and learning! 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. There are other amounts to factor in here, as well. It also makes it easier to know whether to buy a new or a used car or to opt for leasing one. Itâs thus a wise thing to know all rebates which you qualify for. A vehicle is a big investment so it’s important to do your research before you commit to a purchase. November 22, 2013 By Michelle 3 Comments. This does not just include the monthly instalment but also cost of petrol, toll and parking, which are parts and parcels of car ownership. The sky is quite seriously the limit. Itâd be right to call such people brand loyalists. But, ensure that their loan terms and rates are similar to your pre-approved loan. Licence Number : IRA/05/30639/2016. Some of us are empty nesters whoâve been saddled with underfunded 401Ks and college bills. There is a thing called a perfect car. For instance, youâll want to consider the annual registration fees, insurance premiums, and gasoline. You may have saved for the car or you could consider taking a loan. We highly advise that you research the dealers. Also, put these guidelines into action. That their loan terms and rates are similar to your budget, there are other amounts factor! To pay more each month sole focus is on payment and your marital status also. Their factors to consider when buying a new car terms and rates are similar to your budget, there are plenty of factors to consider you... Associated with reselling the car, be prepared to pay more each month still in country. 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