Cars have different specialised needs depending on type
Last week we published a story about factors to consider when buying a second-hand car.
In this follow-up article, we look at the type of car that you should choose based on how much you earn; net-income versus disposable income and other sources of income.
A car is expensive and can easily become a financial problem for you.
To avoid being in a financial mess and to save money, consider many factors below.
- The price at which you buy your car will determine how much you will pay towards maintenance, fuel and insurance.
- Purchase price — the more expensive the car, the more you can expect to pay towards the car ownership.
- Car maintenance varies depending on the type (make) — European and American cars are expensive to maintain unlike ex Japanese.
- Servicing price of cars at garages varies from type and service kits prices are difèrent too.
- Cars have different specialised needs depending on type.
- Engine capacity determines the fuel which your preferred car will consume.
- Engine type (petrol or diesel) and fuel price must guide you.
- The distance you will travel (vehicle primary use) must be considered too.
- Depreciation is overlooked by most people yet it is very important because the car will lose value over time.
- Cars depreciate at different rates depending on the type.
- Insurance adds to the car ownership cost. It depends on the type of car and driver's risk (age and sex).
