Despite the demand for preowned cars and the bonus of maybe negotiating a better trade-in price for your car, vehicle owners are holding onto their wheels for longer.
Of course, there is nothing wrong with this, but the industry will advise otherwise.
However, if you decide to go this route, you must accept that regular maintenance and upkeep becomes critical. If you neglect this, the devaluation, when you do decide to trade it in, may be disappointing.
WesBank promotes car ownership, including insurance and a tracking device.
To help you save on day-to-day expenses and keep your car in tip-top condition, WesBank offers some advice.
• While driving, use a navigation system or app with real-time traffic monitoring to avoid traffic congestion, which wastes fuel. • Weigh up the route options. Though it might be quicker on the highway, remember to take into account toll charges. For intra-city travel, it could be more affordable to avoid tolled highways, whereas, for intercity journeys, tolls might be cheaper than the cost of extra fuel on back roads. • Clear out any unnecessary clutter in your car that could weigh it down, resulting in unnecessary and excess fuel usage. • Use the correct fuel grade for your vehicle model. If you are not sure, speak to your dealer for the best advice on what fuel to use to ensure the optimum performance for your car. • Replacing worn tyres is essential for vehicle safety on the road, but can be expensive and is not covered in service/maintenance plans. Ensuring your car’s wheel alignment is set correctly will prevent premature wear and tear, fuelled in part by aggressive driving habits, and will positively affect your fuel consumption. • Car insurance policies are like a safety net to protect your car. There are a variety of insurance policies available on the market – do your research and tailor a policy to accommodate your specific needs. Check in periodically with your insurer and negotiate lower premiums. A claim-free history will do wonders for your premium, and insurers are more likely to negotiate with low-risk clients. If your car is financed, it is important to note that having insurance is mandatory, so cancelling is not a wise (or possible) option. Also consider bundling your car and home insurance for a lower premium. • Check your car licence disc expiry date. Keeping on top of renewal payments will minimise late renewal penalties. On the subject of penalties, it is equally important to follow the rules of the road. A traffic fine or infringement is an avoidable and unnecessary expense in your budget. • Ensure to service your vehicle as per the manufacturer’s instructions.
“The point is not to compromise the well-being of your car, but to invest in the most cost-effective ways to keep it running at its optimum performance level. Doing so could mean more savings to your budget in the long term,” said Kutlwano Mogatusi, WesBank Motors’ communication specialist.