Car Reviews

Safeguard Your Finances By Opting For Second-Hand Cars

Did you know that Kenya is the biggest importer of second-hand cars in Africa?  Globally, we stand at number four when it comes to importing used Japanese cars. All these statistics are according to a report by the Media 7 Group. You must be wondering why all the hype on used cars?  With a tough economy, Kenyans have turned to crafter ways of getting what they want at lesser prices and boy is it brilliant.

You probably have heard that a car loses up to approximately 20% of its initial value within the first year. Yes, a car worth Ksh 3,000,000 will depreciate by Ksh 600,000 the minute you drive it off according to Trusted Choice. At the end of the year, wear and tear plus mileage covered could bring this figure up to 30% translating to a Ksh 900,000 depreciation.
By buying cars which happen to be second-hand instead of new, you would save up to Ksh 900,000. Second-hand cars aid in saving cash for the future. They also help you acquire the car of your dreams you, and do so within your budget. Aside from their lower asking prices, used cars will guarantee you a cut on insurance, registration and customization fees.
Saving Money In A Second-hand Car
An analysis by Consumer Reports shows that a four-year-old car costs between Ksh 500,000-ksh 900,000 less than a new one. One of the biggest advantages of purchasing a used car is that you let another person take the depreciation hit on the car. Interestingly, you on the other hand, can sell the same car at your initial buying price reason being the depreciation phenomenon had already happened. If the goal is to save even more, conduct a research on used car rebates in your area or town.
These are in simpler terms, second-hand car sell-downs courtesy of dealers or manufacturers in a bid to clear their inventory, sell older models and boost sales. Purchasing used cars from such rebate programs can help reduce the cards initial price by upto 50%.  The benefits of buying a second-hand vehicle are endless.
For starters, these cars don’t have exaggerated fees. Secondly, the customizing fee for second-hand cars is cheaper when compared to that of brand new cars. Furthermore, annual registration fees and insurance premiums are lower especially for used cars that are older than 3 years. Another perk of purchasing a second-hand car is the quality assurance. You see, a used car, has already gone through the inspection process and has been certified by relevant authorities.
Steps On How To Get A Good Second-hand Car Deal
Settling On The Ideal Car
Finding a second-hand car can be at times frustrating since there is so much to put into consideration. Taking time in the buying process of a car ensures you get a great deal. Knowing what you can afford and what car meets your needs is key. Make a list of say 3 or 4 cars from different brands that are within your budget and meet your needs. This will help you pick the most convenient option.
Before settling on a particular car, use mVerified Kenya NTSA Vehicle Search to check the vehicle’s history. It is a simple, online process which requires just two things; an ecitizen account and Ksh 940.
The Purchasing Process
The next step is getting a good dealer which is easy to do with the help of the internet. You can then research on similar models and see how much each dealer has to offer. Other dealers oftenly post current rebates on every car model. This works to ease your decision making. If you mention rebates from other dealers, it will help you to get rebates and incentives from your current dealer that he or she had not previously advertised. Even after getting the best rebates you need to negotiate the best price for your car. Trying to sweet talk the salesperson on lowering the initial price should be your first approach.
You can then mention the rebate. Always keep in mind you are trying to save as much money as possible. Try to offer cash up front as it is bound to guarantee you nothing but the best of incentives and rebates. In case you decide on buying an automobile that is less than 5 years old, it is advisable to buy one which is certified pre-owned as they have long-term warranties. Flexibility and trying to be reasonable on your part is important when seeking a good deal.
The Best Time To Buy a Second-hand Car
Timing is to buying second-hand cars what location is to real estate.  There are certain times of the month and year that will get you better deals on cars be they new or old.  For starters try buying your car on a weekend or during end month.  Most people be they dealers or local resellers, will have offers during such times.  Buying a convertible during a cold, rainy or snowy season, will get you lower prices since their demand at the time is slow. The last two days of any month, the end of yearly quarters, or the end of a financial year are also good times for buying cars.
During such times, most dealers are eager to make sales especially if they are paid in commission.  Some will be eager to clear out stock before the new financial year begins. Tapping into this vulnerability will ensure you get a better deal. Buying a car in December,  when everyone is in the Holiday spirit, will get you huge discounts.
Most people and dealers at this time have tonnes of offers and incentives. Scout for second-hand cars when their new models have just been launched.  During these times, all the buzz and demand is usually placed on the newer models, allowing for price reduction on older ones.

Cars are expensive. Probably the most expensive things after a piece of land or a house. You should, therefore, take your time before buying one. If you can get your dream car model, in perfect condition, but at a much lower price, then shouldn’t be that exactly what you want to do? Beats the purpose of buying a new, and way expensive one really. Wouldn’t you agree? And just so you know, buying second-hand cars shouldn’t dent or take a pinch at your ego as according to The Star Classified, of all the vehicles on Kenyan roads, 80% are second-hand. 

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