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Buying a car is the second biggest financial commitment anyone will ever make (after a property). So, how does a young South African buy the very best car? And what pitfalls should they avoid?
According to George Mienie, AutoTrader CEO, the process starts with correct, sensible vehicle selection.
"As South Africa's largest and most digitally advanced motoring marketplace in South Africa, our live market data provides unparalleled insight into car shopping trends. And, if one studies the most enquired cars by 18 to 34-year-olds (in the first five months of 2022), it is clear that many youngsters want to acquire particularly aspirational vehicles.
Wants versus needs
Included in the list of the top ten most enquired cars are the likes of the BMW 3 Series, Mercedes-Benz C-Class, BMW 1 Series, and Toyota Fortuner. These are all outstanding vehicles; there are other cars; however that may be better suited to lesser experienced drivers," he points out.
Instead, AutoTrader recommends cars with substantially lower price tags that are safe, reasonably practical, have good standard warranties, and are affordable to maintain. Examples include the Fiat 500, Ford Figo, Hyundai Grand i10, Kia Picanto, Peugeot 108, Renault Kiger, Suzuki Swift, Toyota Agya, and Volkswagen Polo Vivo.
The car that a young buyer should choose will depend on personal preferences and, of course, affordability.
"Financial experts recommend that you do not spend more than 20% of your gross monthly salary on vehicle finance payments. For example: If you earn R20 000 per month before tax and other deductions, you should not spend more than R4 000 per month on vehicle instalments," explains Mienie.
The purchase price is but only one factor to bear in mind. "It's important to calculate your monthly costs. This should be broken down into the monthly payments and insurance and maintenance/running costs, such as tyres, fuel, and services," Mienie advises. A good place to start is AutoTrader's car finance calculator.
Finally, it is wise to stick to reputable dealers when making the first vehicle purchase. "And always test drive the car! Take the car for a drive along a route you know, listen for anything untoward or strange noises such as rattles or squeaks," urges Mienie.
Then, happy motoring!
These are the cars most enquired by 18 to 34-year-olds:
