Collecting Our Latest Purchase
Today we popped into We Buy Cars to collect a vehicle I purchased last week and all that needed doing was finalizing the financing along with the insurance. Whilst we were there we had the trackers fitted which was one of the requirements for the insurance. Funny enough organising the insurance was probably what took the longest as the woman on the other side of the phone was trying to sell me a package I did not need and only understood the assignment when I filled her in stating that I had 3 other policies with their company and that the rates need to reflect that. The price dropped by around R700 ($45) per month and she got the message.
We Buy Cars is a business that has become a major player in the second hand car market springing up around 10 years ago and only recently becoming the dominant player. A one stop shop with every vehicle being checked and verified.
The plan was to look for a work vehicle and a vehicle I could use for work and frustratingly found nothing appropriate. This did not mean I left empty handed however as I purchased a car for granny instead which will become the family run around car. This is an ideal vehicle being the Nissan Qashqai a 2023 model with 33400Km on the clock and comes with a 3 year service plan and warranty.
I did take a close look at the Chinese models and noticed the resale values had all dropped by around 50% after only 2 years and the signs are not looking great. No vehicle holds it's value but I do not expect a vehicle to depreciate that quickly. I know from doing my research that the Chinese vehicles are more expensive to insure due to lack of available parts and there are plenty of horror stories.
My journey for a work vehicle continues and I have decided to go back to my playground that I know so well being the auction rooms. I know I can find the right vehicle for 60% of the trade price which is about 25-30% cheaper than retail. I know what I have in mind and will find one over the coming weeks meeting my specifications. The Isuzu DMAX double cab is what I am after and having seen these retailing at around R400K I expect to find one for roughly R220-240K.
Cars are not a big deal to me like other people as they are to get you from A-B safely and be reliable. The last car we owned as a family was back in 2020 and the plan was not to buy another one in this country. Unfortunately that has not quite panned out that way and we will be here a little longer and expect another 2-3 years realistically whilst the businesses are growing. A car is just an added cost that is an essential tool we all need and not relying using other fleet cars from work will relieve the stress. The 6 years or so not having a vehicle has saved a small fortune even if I have been paying for servicing and repairs on vehicles I have been using.
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Judging from the pictures the low end BMW are very popular over there...
Yes they are and I guess it is seen as prestige thing in their culture even if they cannot afford the spares. These lower end are cash buys as they never insure their vehicles.
Yeah, BMW is not a practical vehicle choice and low end ones do not make any sense at all to me as they are still very expensive to maintain. If you feel like splurging on comfort and luxury you might as well go the highest end tricked out vehicles, at least at that point you are enjoying those to the max and know what you are paying all that maintenance for.
Like I paid $22K USD for my Mercedes S-class when it was six years old, which I have the dealer papers for over $100K USD when it was new... I am going to drive this thing into the ground and so far after 12 years it has been a very reliable vehicle with usually just $150 oil changes per year and about $1000 in preventative maintenance every other year...
I am sure the locals are not servicing their BMW's at dealerships and possibly stolen parts are readily available where they are living. Otherwise this makes no financial sense because 99% cannot afford to drive and maintain these vehicles. Practical is not in their vocab.
Once had a surprisingly heated argument with my brother that a personal Car isn't an asset. Take away the necessity part by providing alternatives and I'll gladly use them.
Best of luck with your purchase
Yes it is definitely not an asset. If I had other options I would not have bought the car but I do require this now. Public transport is not an option here and I have to see my clients so it will pay itself off very quickly with just adding a couple more clients which will be done by next week. Thanks it is a good purchase.
I love the practical approach here. A car as an essential tool rather than a status symbol is the mindset that builds businesses.