Owning a car can be expensive, and as the drawstrings tighten, many South Africans may be considering selling a vehicle to save money or to cover other costs: just look around at all the “Selling used car” and “Car for sale” signs in car windows to get an idea of how much some people are struggling.

If your car is giving you trouble, you have two choices: repair it, or sell it and buy a new car. If the repair cost seems too high, get a few opinions from different mechanics before selling a vehicle. Not only is the extra debt associated with buying a new car a risky, but if you decide to sell your car later, you could make a long term gain.

There is no definitive best way to sell a car: there are arguments to be made for selling a used car privately and using a car buying service – one of the biggest concerns when you sell a used car privately is safety. Regardless of how you do it, selling used cars can provide a cash boost to get through hard times, and services like Uber have made it easier to get around without a car than ever. But, in the current economic climate, is it better to sell your used car or repair it?

Sometimes you have no choice but to buy a new car. But as a car buyer, should you go for a new car or buy a used car? Buying a new car can be risky: most often when people buy cars new, they’re doing so for emotional reasons. Monthly repayments are a big drain on monthly expenditure, and with money tight as it is, maybe now is not the time to buy a new car.

There are some positives to buying a new car. A new car comes with a warranty that most used cars don’t have, which provides a car buyer with extra security in the event of an accident. New cars tend to come with better, more advanced features than used cars, as well as being more fuel efficient and safer. However, this is offset by higher upfront costs and higher insurance premiums. A new car also loses value as soon as you buy it, although this evens out over time.

Used cars, on the other hand, are less expensive to purchase than new cars, and generally come with lower insurance premiums. Since the rate of depreciation slows as a car ages, buying a used car can be a better investment in the long-term, but used cars also have a greater chance of developing problems, which can mean incurring higher maintenance costs. Used cars may also not have a service plan, depending on their age.

If you decide to sell your car, why not do it through CarZar?  Visit CarZar.co.za and get a free instant online quote! If you like it, we buy cars for cash, so you don’t have to wait to feel the pinch of credit downgrades! All you need to do is:

STEP 1: Select your car details and receive your free online quote instantly. Or, send a WhatsApp message with the word “Quote” to 087 470 0436 and receive a free quote for your car.

STEP 2: Book an obligation-free inspection at any one of our Car Buying Centres Cape Town or Johannesburg; or at your preferred location in Cape Town or Durban.

STEP 3: Accept our final cash offer and receive instant payment! We also purchase financed cars and take care of all the paperwork for you.

With CarZar, you can sell your car in 30 minutes!