Buying a used car in Kenya needs careful planning. A car may well be the second most expensive transaction you will make after your house.
Just like you’d choose a reliable friend for an adventure, careful planning ensures you get a car that’ll safely take you on your life’s journey. So, let’s embark on this exciting road together, making sure you find the perfect wheels.
6 Benefits of Buying a Used Car in Kenya
This is your hard-earned money you are investing, so it is good to make sound financial choices. To help you with this, let us go through the six vital benefits of buying a slightly used car over a brand new one;
1. Affordability
2. Cheaper to insure
3. Easy financing
4. Depreciation test passed
5. Customization overheads
6. Certification check passed
Affordability
Yes, it is plain logic that used cars in Kenya are cheaper to purchase. You will get a used car at a far lower cost without compromising on quality unless the car was extremely abused by the first owner, which you will determine when you check out the car before buying.
Do not drive yourself into depression by spending all your money on a new car and then struggling with maintenance and fuel costs. This could even get you into more trouble if you have a loan to service. Simply, a new car is needless damage to your finances.
Cheaper to insure
A used car costs less, so it is cheaper for insurance firms to replace or compensate, hence lower premiums and overall insurance costs. This is definitely a welcome reprieve for your already strained pocket and leaves you to comfortably take care of other issues like maintenance, fueling, and any customization you may decide to add to the car.
Easy Financing
Getting financing for a used car in Kenya is bound to be easier for a number of reasons. First, the amount required is lower compared to that of a new car, so even if your financial status qualifies you for lower advances you are sure to get a financial institution that will cater for you.
Secondly, there are many microfinance firms all too eager to lend to lower-bracket clients at very competitive interest rates.
And lastly, a smaller loan means lower installments when you start paying and so less strain on your pocket. This leaves room for you to serve other financial obligations like rent, school fees, food, and clothing among many others.
Depreciation test passed
Loud whispers among car experts say that the highest depreciation rate occurs within the first two years of the car. Depreciation starts the minute you take a new car from a dealer’s showroom and continues at an amazingly higher rate as you use the car. By the end of the second year the rate can be as high as 50% but then gradually starts to slow down going to the third year.
The first owner only comes to realize this later, either during resale or trade-in. So, why not let the first owner absorb the bulk of depreciation and then enjoy the fruits of their labor when you buy the slightly used car later?
Customization Overheads
New cars always come with customized installations or accessories that the new car dealer charges you for, whether you will ever use them or not. Remember, some of the custom add-ons may not be needed in your country’s climatic conditions, but you still pay for them anyway.
So again here, let the first owner carry that unnecessary burden for you, then comfortably delight in them or just let them be if they are not needed.
A used car gives you the leeway to add your own customs at your own pace and at a cost you can effortlessly afford. Sounds unfair for the first owner? Well, they asked for it, but cleverly, you made the right decision and saved yourself money.
Certification check passed
Processing the documents for a new car, even for experienced car dealers, is quite an irritating inconvenience and that is why they charge you for every bit of the process. Then there are the dealer preparation fees that end up in your bill. What about advertising fees borne by the dealer but eventually paid for by the new car owner? Wait! Do not forget the hassle of new number plates. Follow us for a detailed piece on the transfer process.
All these extra fees are expertly hidden but surely end up in the overall price of the new car, eventually pushing up the price of an otherwise cheap car. But why treat yourself to a disease you can easily protect yourself from by making the right decision of buying a used car?
The expenses are unbelievably minimal, just the transfer fees, and you drive home a contented used car owner.
Bottom-line
In conclusion, purchasing a used car in Kenya is more than just a transaction. It’s a significant step towards your mobility and independence. Just as you would carefully choose a companion for a thrilling adventure, so too should you approach buying a pre-owned vehicle with meticulous planning and attention to detail.
Remember, it might be the second most substantial investment you’ll make after your home. By following the right steps and doing your due diligence, you can ensure that the car you choose will reliably carry you through the twists and turns of life’s journey. So, buckle up, and let your car-shopping adventure begin – the road to your dream ride awaits!
