GONE are days when a car was just a want, it is now a must-have necessity.
Today’s life is so fast that owning a car is advantageous.
In a day, you might need to do many errands from different places and taking a public transport will be cumbersome and you might end up not getting other errands.
Most people still stick to taxis because they think they earn less and cannot qualify for car finance.
But guess what, Cartrends has got news for you.
You can qualify for a car with your R10 000 salary or less.
We share with you tips on how you could qualify for car finance and also point you to what cars you can get. We also give you a rough estimation of what you could pay for the car you opt for.
These are new cars, but if you don’t want a new one, second hand also has some offers. (Next week we will give you some of trusted dealerships for good second hand vehicles).
Firstly, before you finance a new car, you must make sure that your credit score is good.
There are many platforms whereby you can check your credit score, e.g. Clearscore, Experian and even some banking apps help you get your credit score.
With platforms like Clearscore and Experian, you just need to visit their website, register and start monitoring your accounts.
The platforms will show you your credit score and how good or bad is your standing.
If you get a good score, it’ll mean you are paying your accounts well and you are not using more than what you can afford, and therefore, you stand a good chance of qualifying.
Make sure you always have a positive balance on your account for at least three or more months before you do car finance application.
Now this means, your score is good, you don’t have many accounts, you are paying well those that you have and your affordability is good. You don’t use every penny from salary, but you are left with money after all expenses.
When you have successfully done that, then you can start looking for cars.
Good for us (this generation) everything is digital now, there’s no need to physically visit each and every car dealership. You can communicate with them from the comfort of your home using your mobile phone or laptop.
Now, let’s look at the cars you can explore with your R10 000 or less salary. These are budget cars that will not choke your finances dry.
These are cars that you can still maintain, pay insurance, tracker, put fuel and still be left with money for other expenses.
- Kwid: According to Woodmead McCarthy Renault, the Kwid starts from R 180 990. You might look at paying around R2 699 a month.
2. Susuki S Presso: According to SuzukiAuto, you can get an S.Presso from as little as R178 000. You can then look at an instalment of around R2 599.
3. Suzuki Celerio: According to SuzukiAuto, you can get this beauty from as little as R188 900. The instalment is around R2 699.
4. Toyota Vits: According to MotusToyota, Toyota-Vits ranges from as litte as R169 900. The instalment you might look up to on this one is around R2 799.
5. Proton SAGA: According to Proton Cars, the Proton SAGA 1.3 STANDARD M/T ranges fro 189 900. You could look at paying about R2 999 a month.
6. Datsun go: This one made our list but unfortunately, according to Nissan Group, it has been discontinued. You can now only get a used one.
These are not the only options, there’s more. The idea here is to show you that you do not have to limit yourself, thinking you are earning less and that you can’t buy a car.
The nicest part about the new cars is that most of them come with good specs and good selling package. Depending on the dealership, you might not pay for insurance for a certain period. It might come covered. The car will also have a warranty, meaning, anything that might not go well with it, you will just take it back to the dealership and they sort it out for you. They will offer you service and road assistance for free for an agreed period which gives you peace of mind.
Now the question stands, why are you not driving?
