Long after you take your new automobile home for the first time, the choice you make on the day of purchase will affect the amount of money in your pocket. What usually occurs is that most people don’t take into account their finances when deciding on the car they should inadvertently buy. There are a lot of factors that a person needs to ponder over before getting their new car; for instance, a car is a valuable asset and over time if maintained adequately can be eventually sold or traded for a newer model. So keep in mind that the day you purchase your car will also determine how you would sell that same car in the future.
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One thing people fail to realize is that the process of buying a brand new car and a second-hand car is totally different. There is simplicity when you decide to get a brand new car, the buyer can be at rest, the car doesn’t have any wear and tear from the past, there hasn’t been any significant change in the parts of the car and the car is in a good working condition. But, this is cannot be said for a Tokunbo car, it has become the norm for sellers not to give details about the significant changes that have been furnished in the car because they believe it reduces the value, so they omit the necessary fact, and most times the buyer is left to his own devices after the sale. When buying a used car; it is required that you don’t only take it for a test drive but you have a mechanic come do a thorough inspection and assessment of the vehicle.
This is the reason why we have created a guide to help fact find and checklist all the important things you need to do and consider when buying your car.
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What Can You Really Afford?
When asking yourself this question, you want to cut across all sections. How much do you have available to spend; this is essentially your starting point or criteria. The budget forms an important part of the buying experience. When you have realized your attainable budget, the next step is to consider how much the car is going to cost you, and if you can afford that cost. If you are a first-time buyer, the answer to this query is simple; but, if you are switching cars, the solution is more challenging. You must take into account the “cost of changing,” which is the outcome of deducting the value of your trade-in from the dealer’s asking price for the automobile you want. The “cost of changing” is what matters because it is the sum that will come out of your wallet, even though a good trade-in price may seem like a good deal. While you might have been eyeing that new Lexus that just came out, your trade-in might only allow you an older model Toyota.
You should not only consider your finances before buying the car but also after the sale has been completed. Other aspects such as maintenance costs, insurance and other miscellaneous expenses you may encounter through the course of your use of the car should be made a priority. You should not buy a car that you can’t comfortably maintain. Your thoughts should rely on this, apart from the purchasing price of the car; is there any possibility that you won’t be able to maintain the car either by servicing it, fixing any damage or even covering the monthly insurance? If your answer is no, then you should rethink your decision on getting the car.
What Car Should You Buy: Use A Car Finder Tool
You probably already have a car in mind that you wish to purchase after you have carefully sorted out your finances. But, it is better to stick with specifics or rather to have your choice suit your lifestyle. The questions to ask yourself differ from person to person, but it is important that your car fits into what you want to use it for. For example, if you have a large family, a small car like a Toyota Corolla will not work for you, a Honda Pilot is more your style. It is quite the norm for buyers to place importance on the opulence of the car rather than how the car actually fits them and their lifestyle choice.
You should ensure you make adequate research in making at least six selections of cars that pique your interest. Our blog column is a good place to start; our automotive topics touch on a wide range of cars and their specifications. Once you have created your list, the next step is to make use of our car tool finder.
Carmart.ng is one of the largest automotive marketplaces in Nigeria, our car tool finder is top-notch and provides results in seconds. It would make your search simpler and more efficient, by filtering the price, models, and vehicle category and also aid you in locating the available cars on sale. This is the step at which you decide on the ideal car you wish to have.
Should You Buy Or Lease The Car?
This is another important aspect to ponder. In Nigeria, most people are used to the outright sale of cars, but things have started to change while leasing almost provides the same benefits that buying had, the one drawback is that is ownership.
Both buying and leasing come with their pros and cons. But, financing is required for both to take action. When buying a car, some might decide to take out a car loan to finance their purchase. You must pay off the loan before the car can ultimately become yours, and any default in payment might lead to repossession of the car. This is the reason most wait until they can outrightly buy the car, rather than collate debt.
Leasing is seen as an alternative to buying. You are also required to make monthly instalments to either the dealership or the leasing company. The one thing that makes leasing more attractive is that you pay less for a car of your choice if that payment is within your budget. Leasing also comes with its disadvantages; you must not surpass the mileage that has already been set, if you do you would be required to pay additional costs, maintenance is very important and you must ensure your leased vehicle is in proper shape and form otherwise other fees would be coming out of your pocket.
Compare With Other Cars In The Same Class
This is done for review purposes. To ensure you don’t overlook any other appealing choices, you must compare your choice with other relevant cars within the same class of the car, this can be based on the model, vehicle type, specifications and overall review of the side of the car by side.
Our blog column will provide you with all the necessary details from car comparisons, to price reviews and other tips you may find essential in your car purchasing journey.
Schedule For Test Drive
You must ensure before buying any car that you must at least take it for a test drive. This is very essential, especially for used or second-hand cars. It is important you know the limitations or defaults of the car and a simple test drive can help with this
Before coming to the dealership in person, call the dealership by phone to arrange a day and time for a test drive once you have selected a car that suits you well. Before you visit the lot, try building a rapport with the salesperson to increase your confidence.
The conditions the car will be utilized in after you buy it should be replicated during the test drive. Drive the automobile in both stop-and-go traffic and at motorway speeds if you commute. This is a great approach to determining the condition of the vehicle.
These are basic guidelines to ensure that you take precautionary measures and have a keen eye for the slightest detail when purchasing your car. The approach that needs to be applied throughout the process must be carefully thought out so as not to “jump the gun”, making you end up with a mismanaged or unfit vehicle. As a buyer, you must ask the right question and get the correct information. It is important to not just take the word of the seller, but make proper research yourself, because you are in a haste to get your car. Your finances must also be in order before you start your search.
Frequently Asked Questions
Carmart.ng is the best place to have your car sold. We are one of the largest automotive markets in the country. It will only take you a few minutes for you to have your desire for sale on our website, and you can start your transactions with prospective buyers.
A second-hand Toyota Corolla (old model), has been assessed at a value of three million naira.
Yes, it is. Most dealerships provide this service for their customers. But you must do your research and get the necessary information on how the particular dealership you wish you, partner, with for the instalment work.