Of course, weâre not talking about their name. Pesabazaar.com is authorised and regulated by the Insurance Regulatory Authority of Kenya. Licence Number : IRA/05/30639/2016. Thatâs not all. However, make sure not to pay for technology and features that you will not use. For instance, consider checking out LendingTree.com and Bankrate.com. 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. If you do take the latter, then you also need to have a plan on how you will repay the loan which is actually a debt. You can then file an application for a pre-approved loan. Some dealers can help you get the right financing for your car and help you with the paper work that is needed. There are many things to consider before making your final choice about what vehicle to buy. You can purchase a fully loaded minivan for those big family vacations, a sleek new sports car, or a stripped-down compact for your new college graduate. Making smart decisions throughout the entire selection and buying process is inarguably crucial! Everyone now wants the convenience that comes with having a car but getting one is not like picking a packet of milk from the supermarket. Consider them with a high degree of seriousness. Nairobi, Kenya Itâd be wiser to plan for the financing for now. Having a budget will also help you narrow down to the kind (new or used) and brand of car that you want. Depreciation (losing value) Youâll require something safe and roomy in case youâre planning to become a parent or are one. Look out for car bazaars like the one on every Sunday at the Jamhuri Park along Ngong Road. But again, have fun while youâre reading and learning! But, they barely spend the same amount of time to research new cars as the rest of the populace. Such include styling, color, reliability, technology, fuel economy, comfort, capacity, and so on. This sounds like a silly question to ask yourself before buying a car but it is an important one. Now, youâll get serious about purchasing your selected vehicle. It’ll depend on your creditworthiness. Itâs thus vital that you get your choice right. Itâs an opportunity to evaluate factors like acceleration, handling properties, comfort levels, and the in-vehicle technology. One of the most notable factors in buying a new car may be the safety devices, features, and technology. As a result, financing, trade-in values, and rebates are currently the best weâve had for so long. You’ll thus be likely to win the best deal possible. This post may contain affiliate links. Itâs less likely that youâll just wake up and decide to purchase a new car, then walk into a showroom, swipe a debit or credit card, and drive away. If so, youâll then need to determine whether youâll sell the vehicle on your own or trade it in at the dealership. Then, you should understand how the amount youâd afford each month translates into a carâs price. Your long-term happiness with such a purchase is at stake here. That doesnât also suggest that dealers will simply give the cars away. But, people donât purchase cars like they buy household items. All these different brands have different sub-categories of cars under them making it a wider field to choose from. Next, theyâll look up reviews, prices, and factor in rebates and incentives. Know why you want a car and research on the best one to fit that purpose. Theyâll do so immediately they realize that your sole focus is on payment. Never extend a car … In your case, it might take less or even more than that. Youâll relate your wants with various factors. 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. A new car is an investment; it’s something that you will use for many years, meaning that you should carefully choose your car. 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. Choose which loan works for you. Itâs not yet time to head to the dealerships, yet. In fact, the preparation should begin even before you set foot in that showroom. 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. The MSRP includes hundreds â and sometimes thousands â of dollars of profit that the dealer will win. Find out how different dealers have priced the car that you want. Maybe, you belong to an organization(s) that entitles you to additional rebates. You don’t always have the same safety nets you would have if you buy a new car. No, they donât purchase new cars like theyâd buy clothes. Insurers examine several factors to set insurance premiums. Will you have a surplus to sustain y… This research on the different dealers out there will also help you get information on the different incentives they have. Itâs time to decide what youâd want in your vehicle. We wouldnât advise you to walk into that dealership without such information. There are two universal facts about buying a car that everyone needs to remember. Simple, talk to people! That is why owning a car can eliminate at least a million dollars in future value from a retirement account. Good credit will enable you to access low-interest rates. Some of us are empty nesters whoâve been saddled with underfunded 401Ks and college bills. Factor in the price of insurance, fuel, and maintenance when estimating the amount you need for your new ride. For obvious reasons, a good, clean record would be preferable to an insurer. Even if the second car you drive feels like the right one, it's not worth writing the others off. 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. Therefore, you ought to select something which will meet your specific needs. It nice to want the finer things in life, however, you have to select a car that is budget friendly. Take keen notes. At this point, itâs time to visit various dealerships and conduct test drives. As well, the model, make, and kind of car you intend to insure will be accounted for. PESABAZAAR.com #1 Buying a Car Will Affect Your Savings Rate. Now, negotiate with your dealer. Establishing your budget for a set of wheels will be easy when paying cash. 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. Therefore, as a savvy buyer, you must always be ready. If you are purchasing your car with a hire purchase loan, consider your loan eligibility. They should tell you whether they were happy with the dealer and the car. Youâre confident that itâll fit your budget. Factors to Consider When Buying a New Car, More Information About MOT Tests And The Reasons For Failing, 9 Useful Tips For Purchasing A Used Vehicle After Lockdown, Finding The Right Vehicle For Your Budget, The Best 12-Volt Air Compressor Available Now, Practical Tips For Choosing The Perfect Car. November 22, 2013 By Michelle 3 Comments. Then, itâs time that you know how much the insurance will cost. Do your homework throughout this process. That nice red Range Rover you like may not be what you can afford. Then, youâd simply need to go for a car that you can afford. Donât forget the cost of insurance premiums, too. In no particular order, the biggest factors to consider before purchasing a vehicle include: Your debt to income ratio. Three Important Factors to Consider When Choosing a Car With nearly 300 different new car models available for sale, choosing one can be quite overwhelming. In case your record features accidents and tickets, youâll pay more. 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? Weâll inform you about all youâd require knowing before purchasing that car. Youâre more likely to acquire money for the old car if you sell it on your own. You may have saved for the car or you could consider taking a loan. 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. 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. Buying a car will impact your ability to save. Know the much you can spend on a car. Other factors considered include age, gender, common location of driving and your marital status. 0800723340 In fact, dealers are known for not availing all discounts available to them. When we talk about fuel, Maruti Suzuki might … How much of your earnings will you allocate towards car payment? Are you in the process of buying a new car? 2Nd most costly item most people can not buy a car that you want a used car or do want. Varies with age, gender, common location of driving and your marital status you. 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