Cars cost more than some homes these days. Seriously… You can buy a literal house for less than the price of a car in South Africa. We’re not talking about a luxury sports car that comes with its own chauffeur and mini chocolate fondue for the passengers, but more the kind of car that a family would buy. Like those 7-seater cars that you see people carting their many children about in.
And it seems as though these prices are only going to increase, which is why people are hanging onto their cars for much longer. It’s also why more people are looking at the gleaming array of second hand options on the market instead of new cars.
Here are some really good reasons for this change of heart for many South Africans.
When you decide to go second hand, you immediately stretch your car-buying budget. It makes sense… You’re likely to get ‘more car’ when you opt for a used model than what you could get if you were looking at a new car in the same price range. So, while you might not be able to afford this year’s model of the type of car you have your heart set on, but you could get 1 that’s 2 or 3 years older.
Basically, used cars give you more bang for your buck.
It’s the greener choice
Sustainability is such a buzz word… But you can’t deny the fact that we have 1 planet and we need to take care of it, which we can do by making more sustainable purchasing decisions.
We’re not going to get too sciencey here, but around a quarter of the carbon dioxide that a car emits during its whole lifespan actually occurs during the manufacturing and initial shipment stages. Essentially, buying a new car comes with the hidden price tag of a whole lot of emissions that attack our ozone layer.
Used cars have already gone through those phases, so opting for a second hand car = making a slightly smaller environmental impact.
The lowdown on lower dealership fees
If you’re buying a new or used car through a dealership, there will be fees attached to this transaction. While these extra fees differ from dealership to dealership, the general rule of thumb is that they will be less expensive for a used car than those fees associated with a new car.
We can’t speak to all the reasons why, but mostly, this is because the cost of a used car is less than a new car.
Lower insurance premiums, more ka-ching for you
In our royal experience, the insurance for a used car typically costs less when compared to the premium amount for the same car if it were brand-spanking-new. Yes, your premiums depend on a variety of factors, like your risk profile and the make and model of your car, but 1 of these details is the car’s value.
In short, because used cars have less value, your premium will be affected and you could pay a lower premium.
These are some pretty good reasons to go for a used car. However, the choice is yours, and new cars come with their own set of benefits. Whichever you decide to go for, make sure that you visit our website and get a commitment-free car insurance quote.
We’ve got your back, whether it’s pre-loved or out-the-box-new.