Brian Joss – Committing to purchasing your first car is not as easy as some may think, and it’s important to follow a few vital steps before driving off in your new wheels.
WesBank has outlined some important factors for first time buyers to consider along the journey:
Whether you opt for a new or used car, be sure to conduct adequate research on the many vehicle brands available. This entails looking at factors such as the trustworthiness of the brand and safety items. Also understand further expenses are involved with any given vehicle, such as maintenance requirements and fuel consumption will arise. Essentially, remember that buying a car comes with more than just the monthly instalments costs of the vehicle.
Once you have decided on a suitable vehicle, remember to read all the paperwork and ask the relevant questions before signing on the dotted line.
Be sure to understand the additional costs that may be applicable (depending on the brand and dealer) such as extended warranties, service or maintenance plans and insurance. Some brands package these items into the original sale price and some sell them as optional extras. Do your homework before hand to prevent possible financial burden down the line.
Being young often comes with a huge amount of peer pressure such as retaining the image of the ‘cool kid’ and owning the most expensive or biggest set of wheels, but remember that only you will be responsible for the costs of that flashy car. Be sure to buy a vehicle within your means – one that won’t break your bank balance and still gives you room to keep up with other financial commitments.
For graduates who are in the market to buy their first car, the WesBank Graduate Finance offering provides these new entrants to the working world with competitive interest rates. Credit history is not essential. Made easy and accessible, the entire application process can be accessed and completed online.
WesBank Graduate Finance is designed for graduates who have a university degree, three-year diploma or NQF 6 qualification; have graduated within the past three years; Are under the age of 31; can provide proof of employment; have a valid driver’s license; and are South African citizens.
“Our offering is designed with these factors in mind because we want to be able to give graduates some independence without them worrying about elements such as their credit history. This offering ensures that we can assist graduates in securing a bright future post their academic years, by making the travel between work and home easier and less stressful,” says Communications, Social Media and PR Manager Lebogang Gaoaketse.
“We encourage first-time buyers to conduct as much research as possible before deciding on their vehichle of choice, to ensure that they are better informed when asking the relevant questions and it will assist them with making the right decisions”, concludes Gaoaketse.
CAPTION: Do research: look at trustworthiness of the brand and safety. Picture: Motorpress