Trick to avoid pain of buying a car

Given that – for those lucky enough to have a job – a car will probably be second only to a house in what it costs, it is worrying that so many South Africans lose money making bad decisions when it comes to their rides.

We’re a vain lot, and a flashy car is a way to send a message of sexiness or wealth that the owner could otherwise not do.

Once the romance of the purchase has faded, however, the reality of insurance and maintenance costs, as well as fuel bills, often sees the four-wheeled fave traded in… at a loss.

Few people carry out proper research before putting the hire purchase noose around their necks: What’s the reliability like? How expensive are the parts? Is it a theft or hijack risk? How expensive is it to insure?

Other than with a few rare exotics, you’re only going to lose money buying car… the trick is to keep that loss to a minimum over the time it is in your possession.

That is why, if you’re in the market for a car – new or used – go to our Personal Finance pages today. The advice could spare you emotional and financial pain.

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