Buying a car can be daunting, especially considering that a car loses most of its value as soon as you drive it off the showroom floor. Most experts will tell you that it’s better to simply purchase a second hand vehicle, but where do you even begin?
As usual, we’re here to help.
Cars drop around 20 – 25% in the first year of buying them. We took a look at some 2010 model cars, what their recommended selling price was then and what their recommended trade-in price is now.
We also tell you whether it’s worth your while purchasing the car brand new or whether getting a second hand model will suffice.
Keep in mind that when purchasing a vehicle, two things you always have to keep in mind are: the cost of insurance and the cost of maintaining your vehicle. Most new vehicles will come with a motorplan, while you might not get one with all your used vehicles. The figures below do not take these into consideration and the aim is to serve as a mere guideline.
Hyundai Getz 1.4: New price: R147 400, Current recommended trade-in R117 400 - 79.6%
The Hyundai Getz is the top contender, being made from probably the best established company in the list. The Getz offers you real value and you’re getting a good quality vehicle for the money. A new Getz will be awesome, a second hand Getz will be just a little less awesome, but awesome nonetheless.
Verdict: Whether you buy new or used, it doesn’t matter – the Getz is a good buy and good value for money.
Kia Picanto 1.1: New price: R102 995, Current recommended trade-in R81 700 - 79.3%
Kia is a good brand, they have been going strong now for a few years. The Picanto offers the most bang for buck, adding loads of features in the tiny car.
Verdict: As with the Getz, new or used, it shouldn’t make much of a difference.
Daihatsu Sirion 1.3: New price: R139 995, Current recommended trade-in R106 500 - 76.1%
The Daihatsu Sirion is a good entry-level vehicle, the brand is well established in the country and service seems good. The car is built well and is good value for money.
Verdict: Second hand will do just fine.
Chevrolet Spark 1.0: New price: R106 550, Current recommended trade-in R79 000 - 74.1%
Chevrolet is a good brand, reliable and there are many service centres nationwide, but the value of the car doesn’t hold up too well, unfortunately. Also, there’s a new Chevrolet Spark out and it retails for R115 495, it offers a better engine and looks much better.
Verdict: Preferably buy the newer model, but if you are looking for a reliable second-hand car and you’re not too fussed with reselling, a second hand Spark will do the job.
Chery QQ3 0.8: New price: R69 90, Current recommended trade-in R53 700 - 76.8%
The Chery QQ is very affordable, it was the cheapest retail car ever in SA. Chery is a newcomer to the market but it has established service centres across South Africa and in most major towns.
Verdict: Buy this one new, because the difference in the price is so little.
Please note that these are estimates, according to the TransUnion Auto Dealers' Guide. The above recommendations are purely a guideline, based on the opinion of car experts and should not be taken as fact.