Get That Feisty Car
Hair done? Check. Nails done? Check. Outfit beautifully styled? Check. You’ve been working on looking and feeling like Rihanna on her ‘Diamonds’ tour but somehow the car you’re driving makes you feel a but like Snooki masquerading as an A-lister. Don’t worry; there are ways to get the car of your dreams.
Dream big…but smart
Driving a Z3 while earning a junior salary may work in your dream but is unlikely to happen in practice. ‘I tell my clients to dream realistically,’ says Bradley Nkuna, a Johannesburg financial adviser. ‘Look at where you are without rose-tinted glasses and then try to get the best car for that stage of your life. Overshooting the mark and buying a car you can’t afford will take you further from your dream life and bring about debt issues that can affect your future plans.’
Think ahead
While few of us want to hear about saving, it is one of the smartest ways to make sure you get to zip from conference to club in a sexy car. The higher your deposit, the lower your instalments, says Nkuna. ‘Consider a three-year plan that allows you to save up as much as you can for a big deposit,’ he says. Saving also means that you don’t have to stay home because you’ve all spent all your funds on the car- smart girls think ahead.
Gently used
You probably think a second-hand car doesn’t go hand in hand withy our idea of heaven on wheels, but think again. Most people fantasise about driving a brand-new car straight out of the dealership but not all budgets allow for that, says Nkuna. ‘A previously owned vehicle can be in great condition; getting one means you can have your dream drive without making yourself broke,’ he says. He also suggests checking out auctions. ‘You’d be amazed at the deals available at auctions. The process of buying a used car does take research and patience, though.’
Lease or loan?
It’s tempting to get a deal that promises lower instalments. Most options either involve leasing a car or making a balloon payment at the end of the loan period.
‘No matter what vehicle you’re dreaming of, it won’t necessarily still make your heart race after you’ve been driving it for five years,’ warns Nkuna. ‘With a lease, when the period expires you have no car to trade in or to sell. With a balloon payment, you’ll end up paying a lot when the loan period expires. How likely is it that you’ll have a large amount like that lying around?