When buying your first car in Kenya, there are several key factors to consider to ensure you make an informed decision. Here are the essential considerations:
Budget and Financing Options.
Determine your budget and financing options. Consider the overall cost, including insurance, duty, and other expenses, rather than just monthly payments.
Explore financing options such as asset financing from financial institutions or hire-purchase.
Needs and requirements.
Identify your needs: daily use, leisure, or leasing. For daily use, consider fuel-efficient vehicles like hybrids or those with lower engine capacity.
Consider your personal preferences, such as the type of vehicle (hatchback, sedan, SUV, etc.), transmission (automatic or manual), and color.
New or used car.
Decide whether you want a new or used car. New vehicles are generally more expensive, but they come with advantages. Used cars can be more affordable, but ensure you inspect the vehicle thoroughly and consider factors like import duty, year of registration, and local use.
Expert reviews and research.
Read expert reviews to gain insights on price range, model, key features, pros, and cons. This will help you make an informed decision.
Price Comparison.
Compare prices from different dealerships and classified car ad websites to find the best deal. For used cars, consider the general condition, importation duty, year of registration, and local use.
Test Drive and Assessment.
Take a long test drive (at least 30 minutes) to assess the vehicle’s performance, handling, and condition. For used cars, consider an assessment by a trusted mechanic.
Insurance Costs.
Consider the insurance costs, which depend on the type of coverage, the value of your car, and the insurance company. Ensure you have the right documentation and verify vehicle ownership.
Price Negotiation.
Compare prices and negotiate with the vendor. Be aware of any deadlines or pressures that might influence the price. Make sure you get the best deal possible.
Safety Features.
Prioritize safety features, especially for first-time buyers. Ensure your car has the latest safety features, such as SRS airbags, antilock brake systems, safety belts, and traction control.
Resale Value.
Consider the resale value of your car, especially if you plan to sell it soon. Japanese cars generally have a higher resale value than European cars.
Mechanical Inspection.
Get the car mechanically inspected and valued by accredited valuers in Kenya before buying to ensure you are aware of its condition and any potential issues.
Source of funds.
Determine whether you will be paying cash or using asset financing. Both options have pros and cons, and it is essential to consider your financial situation and the terms of the financing.
With that, you’ll be able to decide on the type of car you, as an individual, are best suited for.
