In today’s fast-paced world, owning a car has become a necessity for many individuals.
However, the car-buying journey can be fraught with common mistakes that, when overlooked, may lead to regret and financial strain. Potential buyers often find themselves making mistakes due to a lack of knowledge or oversight.
One prevalent misstep is failing to conduct a comprehensive analysis of the actual cost of car ownership. This includes considerations like insurance, maintenance and fuel expenses, which can significantly impact one’s budget and financial well-being.
Additionally, many buyers neglect to thoroughly investigate the vehicle’s history, remaining unaware of potential hidden issues or prior accidents that may affect the car’s reliability and safety.
Lastly, some buyers underestimate the significance of comparing different car models and dealerships. Experts have warned that this oversight limits their choices and causes them to miss out on better alternatives that could better suit their needs and budget.
These errors can result in feelings of remorse and financial strain. Head of digitally-based car insurer MiWay Blink, Keletso Mpisane, has emphasised the significance of approaching this process armed with a clear understanding of one’s needs and financial standing.
Mpisane notes that it is important for consumers to research the market before closing a deal.
“Your car is going to cost you a lot of money in the long run – and also give you a lot of pleasure – so it’s worth approaching the process with care and consideration,” she said.
