Guiding consumers since 2009

New vehicle sales rising

By Staff Writer
South Africa continues to emerge from the economic recession stronger than ever after newly released data showed that new vehicle sales in the country went up by 20.5 percent in February.

It was the second consecutive month of year-on-year increases after the industry hit a three-year slumped which was influenced by both global economic down turn and weak consumer demand .

Whether you'll be buying your first vehicle brand new and in cash or whether you're considering vehicle finance for a new or used car, there are a few things to keep in mind before going ahead with the purchase:
  •  Determine the worth of your current vehicle: if you are looking to obtain vehicle finance, knowing how much your current vehicle is worth will help determine how much you'll need to borrow.
  • Determine how much you are willing to spend: calculate your monthly budget and work out how much you can afford to spend on monthly instalments, services, petrol, etc.
  • Determine how much insurance will cost: if you're a first-time buyer, now is a good time to get an insurance quote and if you already own a vehicle, shop around for insurance quotes for your new car.

South Africa's manufacturing industry led the for economies emerging from recession in Africa last year. It grew a rapid 3.2 percent in the first quarter of 2009 with the auto industry being the biggest in the manufacturing industry as well as a key employer and exporter and is alreadly climbing just two months into 2010.

Buying a vehicle is a big decision to make, so make sure you shop around for the best deal, whether it's for vehicle finance or insurance for your new car, it's always best to compare before you buy.

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