How graduates can make future-proof car choices now

Buying your first vehicle is a major decision and one that you can’t take lightly. This is the vehicle you will be paying a monthly payment for and one that you may drive for a couple of years until you’re in the financial position for an upgrade. With it being such a huge part of your life, you need to ensure that you choose the right vehicle. Try to make choices that are not only good for the present moment but will be valuable and worthwhile even in the future.

While you may not realise it now, life is continuously changing, and when you spend large amounts of money, you want whatever you spend it on to make sense now and in the future. A small car may be all you need now to take you wherever you need to go, but later on in life, you can decide to start a family and need a vehicle with more legroom and boot space. This is one of the changes you need to consider when looking for the right car to buy. 

But, don’t worry because we are here to help you choose not only the most reliable car but one that is future-proof and ensures you are satisfied with your decision in the long run. Continue reading to find out more. 

Reliability is key 

When choosing a vehicle, the first thing you need to do is consider how reliable it is. Apart from property, a vehicle is one of the most expensive purchases you are going to make. On top of that, maintaining it also comes with its costs, so you need to ensure that you opt for a reliable car model that will withstand the test of time. The main reason why reliability is key is that it will help minimise the cost of any future repair and ensure that if you take care of your vehicle, you can extend its life span to help you save money in the long run. So, when you choose a vehicle, take a moment to find a consumer report to identify which cars are the most reliable, good quality and whether it has the latest technology that ensures safer driving and improved performance. This does not necessarily mean that you should pick a brand new car. There are plenty of used cars for sale in South Africa with the latest technology that can help improve the overall quality and experience of the vehicle. Popular vehicle brands known for an impressive reliability rating are:

• Lexus
• Kia
• Toyota
• Hyundai
• BMW 
• Chevrolet

Of course, you want to choose a vehicle that is reliable but is also in your price range to ensure you can manage your monthly repayments and any additional car costs.  

Bigger is better 

While you may have always imagined yourself driving a sleek sports car or convertible, that may not be the best move. To pick the right car is to buy practical rather than only fulfilling your desires, especially when it’s your first car and you’re on a tight budget. Not only are sleek convertibles and sports cars more expensive, but they might not fit in with your line of work. For example, if you’re an engineer who travels to remote locations with rocky terrain, a convertible may not be the best alternative for you. Or, if you know that you handle heavy equipment that may leave a mess, a sleek convertible with leather seats may turn out to be a waste of money as you will spoil the interior and affect how much you can sell it for in the future. When buying a vehicle, your safest bet is to opt for a bigger vehicle with enough space in the interior and the boot. This will allow you comfort while also ensuring that it is always suitable for your job and personal life, no matter how much it changes. A bigger car also makes it useful in the long run, especially if you are considering starting a family. You won’t need to worry about purchasing a second car that will fit your partner and children because the one you already have can do just that. 

Opt for suitable financing 

Most South Africans who are considering buying a car need financial assistance. This is why there are lenders who offer vehicle financing. While vehicle financing is helpful, most graduates are at a disadvantage as they don’t have a good credit score to apply for vehicle financing. This leaves you in a position of either getting high interest rates as you’re seen as a high-risk borrower, or having to wait till you build your credit score before you can get a vehicle. Depending on your job, this may put you in a frustrating position. But, taking the time to find a suitable finance option that understands your needs is one of the best ways to future-proof your car choices and finances. For example, if you apply for graduate car finances, a tailored financial plan that offers recent graduates financing for a vehicle where their credit history is not essential, you can purchase a vehicle at a competitive interest rate. This helps you get a vehicle that can make life easier and ensures that you save money. 

Consider fuel economy 

One way to future-proof your car choice and ensure you are a happy driver for a long time is to focus on vehicles that are fuel-efficient. Fuel-efficient vehicles use less fuel, resulting in you saving more money in the long run. This is also beneficial if you travel a long distance to and from work as it allows you to save money. Being able to save money on your first entry-level salary will make things easier for you and allows you the chance to live comfortably while you pursue your career. 

Always get insurance 

Car insurance is usually a touchy subject for some people. Either they believe that they are responsible drivers and don’t need it, or the premiums are too high, especially if they recently got their driver’s license. But, having insurance for your vehicle is vital, and not only for getting pre-selected for a loan. Insurance helps you future-proof your vehicle and ensure that you are financially prepared for anything that may happen in the future. Vehicles can get stolen, damaged or be involved in an accident no matter how responsible you are. And, the last thing you want is to repay a vehicle that you are no longer using. Not only will that be money down the drain that you could use for something else, but it will put you right back where you started and make working challenging, especially when you’re used to having your own car. So, make the smart choice and prepare for the future now rather than later. It is also best to keep your insurance even after you have settled your car loan just so that you know you are fully secured. 

In conclusion

Buying a car is one of the most expensive and important decisions you will make in your life after graduating and starting your career. During this time, you want to ensure that you make choices to not only benefit you in the current stage of your life but for as long as possible, more so when it involves money. So, before you go car shopping, take some time to do your research and ensure that you have future-proofed your car choice.