Most prospective second hand car buyers make the mistake of placing laser focus on a vehicle’s price first.
Looking for a higher price ? At your inspection, you can choose “Option 1” to receive instant cash in hands; or if you’re looking for a greater price, select “Option 2” to advertise your car to dealers nationwide for 48-hours and get the best price directly from the market. Book An Inspection Now!
The most expensive part of buying a pre owned car is its total cost of ownership. Check these 9 factors off your research list before entering any car sale haggles.
1. Pre owned / second hand cars for sale
Buying a second hand car from a private car sale means you’ll be able to haggle a lower price than the car resale value. However, you’ll most likely incur any reconditioning costs required to make it seem as though it’s an out-of-the-box buy. At least you’ll also have peace of mind knowing that by receiving a Vehicle Sales Contract, the car seller will be forced to disclose any flaws, damage and accident histories about the second hand cars. If the car seller is not willing to offer or sign any Vehicle Sales Contract, then get out of there like Fast and the Furious, as the ‘private car sale’ might just be a scam.
2. Auction cars for sale
There’s not much reliability or peace of mind when buying a pre owned cars from car auctions. You can think of it as a black art - there’s limited or no reliability. If you’ve got a second hand car fanatic at call, it’s best to let them tag along to pinpoint which auction cars for sale have the chance of giving you the most hitches down the road.
3. Trade in car for a second hand one
Trade in car? Car trade ins are not as simple as ‘exchange and go’ on your car resale value. Let’s just say… there are a lot more engagement in salesmen trying to drive a hard bargain:
It may seem as though your salesman is offering an amazing deal for your second hand car, compared to the estimated offer received from your CarZar vehicle online valuation. However, rather than scoring a higher price, you’re actually receiving a significant discount on your new car purchase. When trading in a car, you generally buy a much more expensive one. So, what do you do? Subtract your pre owned car value from the total offer on the new car and pay a residue worth the same price as your second hand car.
Definitely not worth it, if you want our opinion...
4. Car service plans and second hand car extended warranties
Maybe it’ll work out for you - not everyone has the same karma. After all, you’ll need a service plan and warranty on your pre owned car purchase. Just ensure:
- The service plan does not duplicate the factory coverage of the second hand car.
- Who gets paid?
- How much is supposed to get paid out?
- Do you know where it requires you to get the work done?
- How often can the service plan and extended second hand car warranty be used?
- If you’d like to sell car while the plan is still in effect, is the car service plan and extended warranty on the second hand car still transferable?
5. Fuel consumption
Now, ask yourself: can I afford costly monthly petrol or diesel top-ups, along with unexpected fuel fluctuations within the market?
6. Car affordability
One of the most important aspects to take into account before making a fixed decision to buy second hand cars is whether you can actually afford one.
Have you considered the total costs of owning a car:
- Car servicing, maintenance, repair costs and import costs of particular vehicle parts.
- Weekly petrol or diesel refills.
- Monthly car insurance installments - including sudden increases in interest rates.
- Monthly vehicle loan or finance repayments - with a possible increase to your premium plan.
- Let’s not forget about your other monthly living expenses, which you have to budget for as well - check out our Car Affordability Calculator.
7. Vehicle finance
Every car owner’s worst nightmare! Why? A car loan or car lease is one of the biggest expenses you’ll have to repay on a monthly basis. Try out our Vehicle Finance Repayment Calculator and use it to set a comfortable budget for your car finance repayments.
8. Car insurance
If you’re just about driving on the borderline with your car affordability or over budget on your ‘new’ pre owned car purchase, try to spot your red flags first: car insurance.
Car insurance premiums can amount up to two-thirds of your total monthly out-of-pocket car-related expenses. In this case, you’ve got 2 options:
- Refinance your car loan or
- Shop for lower second hand car insurance rates
9. Second hand car resale value
Already have a potential car make and model in mind? Know how much mileage it has brought to the clock of the pre owned car you have in mind?
On www.carzar.co.za you can get an instant estimate calculation of the second hand car online value. Our unique algorithm takes into account the vehicle’s:
- Fuel Type
- Variant and
If you’re simply looking to sell a second hand car to buy a new or pre owned car for cash, then book an obligation-free inspection after you’ve received an estimate offer for your car. If you’re looking to get a higher price for your second hand car, after your inspection, we’ll give you 2 Options:
- Option 1: Instant Cash - CarZar will make an instant cash offer, OR
- Option 2: More ZAR for your car - looking for a higher price? Let us advertise your car to our nationwide network of dealers for 48-hours.
With Option 2, you get the best price the market is will to pay for your second hand car and even a possible match on your asking price!