Low Income Earners Should Know These Before Buying A Car

Low Income Earners Should Know These Before Buying A Car

The very first thing to do before you buy a car is to reason if you really need a car at that period and ask yourself if you really can afford it with your present level of income. Remember, getting money to buy the car isn’t enough, think about other factors such as car registration, fueling, and maintenance expenses. Think about all these before you can finally decide to buy a car.

1.Cultivate money saving habit

You should try and save money for a period of time towards purchasing the car you can afford. At this point, you really need to exercise patience and commit to spending discipline.

2. Make a Budget

It is mandatory to know how much you are willing to spend on the purchase of your vehicle and draft a budget for it. It’s also important for you as a first-time buyer to find out what the regular market prices for vehicles are, in order to prepare you for a good negotiation.

  1. Find out about different brands

As a low-income earner, you definitely can not buy a brand new car, so It is very necessary for you to make inquiries about cars that have goof second-hand values, Some cars have while some don’t have. It is of utmost importance for you to search for reviews on the second-hand value of different cars to decide which brand would be best for you. Some cars are very rugged and have a life span which makes them very good for Nigerian roads brands like Toyota, Volkswagen, Mercedes Benz, and Peugeot. Inquire about the vehicle mileage

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What is mileage? It is the number of miles traveled by a vehicle on a certain volume of fuel.

The mileage of a car says a lot about it. This is because it shows the level of use and lifespan of the vehicle. It exposes whether the car still has second-hand value or not, therefore, It is advised that first-time buyer of used bringing should avoid vehicles with a mileage of more than 160,000.

  1. Need for a co-signer: When you cannot afford a car with your low income and you need a loan to buy the car, you will be needing an individual to act as a guarantor for the loan. The guarantor, therefore, will be held responsible if you default your payment. Meanwhile, you may not need a guarantor if you have something to use collateral, but in case you don’t have, you get a guarantor.

5.Negotiate and make payment:

When you have been able to gather money enough to buy a car, check If the car looks good, enough to your taste. Then it’s time to talk about price, as a first-time buyer it is essential you go with an experienced person When negotiating a purchase to assist so that you will not be duped.

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In Conclusion

Do not be carried away by the brainwashing of the salesman, act like it is not your first time buying a car, bring all your negotiation skills to the table and cut the most favorable deal for yourself. Never you pay above the regular market price for any vehicle. Now it is time to pay, at this stage, you have to be extremely careful and vigilant. It is better than you make all transactions through the bank to avoid been scammed.

Check that the car has the following features:

✖Antilock brake system (ABS)

✖Electronic stability control (ESC)✖Head-protecting side airbags:

✖Backup camera

Author: Sanni Sodiq

Sanni Sodiq (Surdicment); the founder of this website. From time to time, I give out tips and share news about cars and automobiles on this blog. I'm a Mechanical Technician, an Entrepreneur and Internet Marketer by profession.

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