So you are looking for Cheap Cars for Sale to Buy, but can't decide what car you should actually go for. It is never a simple 1 + 1 formula to determine which car is selling at an affordable price, let alone whether the car will be the right fit for you and your lifestyle.
Below is some clarity on what you should actually be looking for in a cheap automobile.
20 – 30 000 km per year is the average recommended mileage a car can go in any given year. This varies considerably between smaller sized vehicles like sedans and thirsty bakkies. However, what's really important for you to look out for here is the mileage relative to the car's age, which is discussed below.
A low mileage to age ratio means that the car hasn't been driven hard, and thus would make a great buy at an affordable asking price.
The age of a car is simply the months since it became a road driven vehicle, as it is unlikely that a car that was completely manufactured in 2010 would only be up for sale for the first time in 2015. Although, the age of manufacture is very much important and is usually the basis to determine the age of a vehicle.
This is why you will hear people referring to cars by the model year, for example a 2011 VW Golf 6, or 2007 Toyota Corolla. The older the car is, the cheaper it is or should be. The main reason of this is because of the natural wear and tear of the vehicle's components and systems that age and aren't as efficient over time.
This leads to a depreciating value of the vehicle. This is where the maintenance costs of the vehicle become more important. This issue is discussed below.
As explained above, a car becomes cheap because of its older age and kilometres it has been driven. As such, it becomes costlier to maintain than a brand new car. It may need servicing more frequently than a newer model car. It may consume more fuel because cars become less economic as they become older.
The upfront costs of a cheap car are obviously low, but then you will need after-market warranties to cover you for electrical and mechanical component breakdowns. Insurance companies really capitalize on this by increasing your monthly premiums as your car gets older because the cost of replacement parts should the vehicle be in an accident become costly as well.
Of course, there are “good” insurers out there, like King Price Insurance, that promises you decreasing monthly insurance premiums as the value of your car decreases. This value, also known as the resale value of your car is mentioned below.
Your car's resale value is the price you can sell it for given the factors mentioned above. Usually, this figure is insignificant if you bought your vehicle very cheaply in the first place. However, it does need major consideration if the initial cost of your car was a bit hefty.