Value in buying a new car

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Dot1

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Hi

I currently drive a polo, and have been thinking of buying a new car. I am in 2 minds about it.

Should I stick to the polo, pay it off, and drive it, or is it worth having a car that is covered by motor plan?

Opinions please:D
 
Last edited:
1. How much do you still owe and interest rate.
2. What car were you looking at?
3. Stick with the Polo as it's the responsible decision. If you are a motor head, go with your heart.
 
Not enough info. What condition is the car in? What is your motivation other than the motor plan?

Just keep the Polo... your money is just burning a hole in your pocket ;-)
 
If there is nothing wrong with the car why change it ( if its not broke dont fix it ).
Pay a bit more off it then decide dont be in a hurry to get in to bigger debt .
 
Drive it till it dies! Don't waste money on new cars, rather invest your money!
Polo's are relatively cheap to maintain out of motor plan, just find a good mechanic/VW workshop and take it there for services!
If you maintain the car, you'll have no issues.
Regular services, shock & tyre checks and alignment (which you should already do).
You'll just need to worry about fan belt @ 100k-120km's maybe water pump as well and CV joints around then (but you should get these checked with alignment). All in all ~7-8k for those bigger things.
Then probably another 3-4k for clutch later on.

Much cheaper than buying a new car!
 
Dot1 said:
Hi

I currently drive a polo, and have been thinking of buying a new car. I am in 2 minds about it.

Should I stick to the polo, pay it off, and drive it, or is it worth having a car that is covered by motor plan?

Opinions please:D
Click to expand...

If the car is out of warranty, you can get a 3rd party warranty to cover repairs and replacements of failed parts.

Motorite is one, I think Hollard Insurance also offer them
 
Dot1 said:
Hi

I currently drive a polo, and have been thinking of buying a new car. I am in 2 minds about it.

Should I stick to the polo, pay it off, and drive it, or is it worth having a car that is covered by motor plan?

Opinions please:D
Click to expand...

What do you pay for your car now?

When you finish paying it how much do you possibly think it could cost to maintain? Think about this for a long while even at what seems an exorbitant amount of R10000 a year (unlikely) that's only R833 a month.

Will buying a new car cost you less or more than this R833 a month? And it will be more, so will the amount that you pay more really be worth it?

Unless the car you have now is lacking major basic features like Aircon and Power steering then I would venture a guess that the answer will almost always be no.

I've had friends tell me how they need to buy a new car because the one they have is heavy on fuel. Then it they end up paying R3500 a month that they didn't need to pay at all for a car that scores them <1l/100km. You'll have to drive a few years to actually start saving money.

Don't bull**** yourself. If you want a new car then simply accept that you want a new car. If it's really about money, then it will almost always be cheaper to keep a well looked after car.

If your car is falling apart, that's a whole different story.


Is Cost of Maintenance >/< than New Car + Motorplan = Conclusion.
 
AdrianH said:
If the car is out of warranty, you can get a 3rd party warranty to cover repairs and replacements of failed parts.

Motorite is one, I think Hollard Insurance also offer them
Click to expand...

If you actually have the money for the extended warranty...rather go open a Capitec bank account or dump it in an easy to access investment instead.

Then if you actually ever need it you'll have the money to fix whatever the warranty was going to cover.

Even better, just keep taking the money that you now put towards the debit order for paying the car and put that into an investment every month. You are already used to paying it so you won't miss it at all.

When you need to service the car you simply take from that stash.
 
My first car was a cursed 15 year old Uno. It had problems, many many problems, and it cost me a small fortune to fix up and maintain. It was eventually stolen.

I got my second car through a dealer (still second hand) but I bought with my eyes, not logic. Compared to the Uno, it was stunning, but it came with it's fair share of problems, which again cost me a fortune.

I had spent a ton of money and time with both of those cars. I had had enough in the end, so I ended up buying a new car with a massive warranty.

So... I'm paying an absolute fortune every month.

But everyday I get in my car, and it will start. I know the mechanical things are sound. I can depend on it getting me from A to B. I know it's safe (relatively speaking). My only concern is wheel rotations and servicing.

I bought a new car because I was tired of fixing inherited problems.

Perhaps ask yourself why you want a new car? If it's a reason good enough for you to get one, then get one.
 
Buying a brand new car is financially a stupid thing to do, considering it drops in value by 25% the second you drive it off the showroom floor
 
mmmig said:
Buying a brand new car is financially a stupid thing to do, considering it drops in value by 25% the second you drive it off the showroom floor
Click to expand...
This is true. But if you plan on driving it for 5+ years the 25% is worth it for the peace of mind. Personally in would consider buying a new car again...once I drove this one to the point where the wheels come off.
 
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