Top 10 Affordable Cars 2024 | Ideal First Car (Budget Friendly)

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Transcripts

new year new year whether you're in the

market to buy your first car or maybe

you're just browsing trying to prepare

yourself for the future whatever the

case may be welcome to today's video

which is a compilation of the top 10

most affordable cars right now in South

Africa I will be giving you the total

cost price of each vehicle as well as an

estimated monthly installment if you are

going to be financing it my name is n

kumalo and I'm super excited to have you

on this channel my name is n kumalo and

I a personal finance Creator some of the

videos I've made include how to buy

shares top 10 affordable cars how to

file your taxes side hustles interviews

you name it I've done it note these

videos do not constitute Financial

advice my aim is to plant the idea it's

up to you to water it and if you enjoy

my content please tip me with a like

comment and

subscription all right so the way I'm

going to do this video is in three easy

steps firstly I'm going to give you the

assumptions that I've used when I was

calculating these amounts number two I'm

going to give you you the rundown of

these CS so brace yourself let's see

what's coming in at number one and

what's coming in at number 10 and then

lastly number three I'll be giving you

Alternatives because some of these cost

prices might seem a bit um you know

absurd so stick around don't worry I

will be telling you how you can get

around this figure if you have a

slightly smaller budget than what I've

told you all right let's get into the

video so my assumptions in this video

are as follows firstly I'm going to

State the cost price so if you're buying

your car completely cash congratulations

you just have to look at that grand

amount however I know most of you do not

have wats of cash lying around so if

you're going to be financing your

vehicle please bear in mind that when

I'm calculating the monthly installment

the following has been considered your

actual price might differ it might be

slightly higher or slightly lower

depending on your credit history so in

my calculations I've used the following

assumptions firstly all of the cars are

new and unused number number two I've

assumed manual transmission for all of

them so no automatics number three I

have chosen the basic entry level

vehicle so there's no rline kits or

customizations or sunroofs it is the

most basic cheapest car you can get from

that range number four I've assumed a

prime rate of

11.75% which is what it currently is in

January 2024 and then I've added 2% so

basically I'll be quoting at an interest

of

13.75% I I've also assumed that you do

not have a deposit and you do not have a

balloon payment uh next I've said that

this vehicle is financed over 6 years so

72 months um and then this amount will

include a registration fee of about

1,200 Grand however it does exclude your

car insurance tracker service and

maintenance plans and all of those other

extras all right coming in at number one

is the Suzuki espresso with a cost price

of

$174,900 R and you're looking to pay a

monthly installment of

3,674 Rand at number two we have the

dutson go so the dutson actually falls

under the Nissan brand and that comes in

at

179,000 Rand with a monthly installment

of

3,758 at number three we have the Suzuki

salario this is

88,9 900 Rand and if you're looking to

finance it you'll be paying

3,960 Rand at number four we have the

Toyota vits this is currently at

189,900 Rand and an estimated monthly

installment of

3,981 so I believe this is a new entry

it's a new car from Toyota so Keen to

see a lot of people who will be driving

these let us know how they treat you

just in case we're also looking number

five we we have the Renault quid coming

in at

192,000

r999 with the monthly installment of

4,044 grand number six we have the

Suzuki Swift coming in at

25,900 r with an estimated monthly

installment of

4,39 Rand number seven we have the

Toyota agya which is

210,00 Grand or you're looking at paying

4,41 R per month interestingly when I

was looking at the Toyota AGA I could

only actually find it in the Durban

Toyota dealership so I'm not sure if

it's actually still nationally available

however don't worry I've also just

inserted the Toyota Starlet if you're

very keen on the Toyota brand the Toyota

Starlet is slightly more expensive it's

coming in at

22,100 Grand with the monthly

installment of

5,255 and and guys when you're buying a

car there are so many things you need to

take into account that sometimes the

small yet crucial items like a Tracker

are at the back of your mind I remember

when I bought my first car in 2020 my

dad introduced me to the car track brand

that he'd been using for many years um

and I was like if my dad can trust him

with all of his many expensive Vehicles

who am I with my little vehicle so I

went with them I'm so glad I trusted my

dad because even at my second car I

automatically chose carart Trek and I

just want to send a shout out to the car

track team and thank them for sponsoring

this video I love working with brands

that I actually use in my everyday life

because I can bring my personalized

feedback to you guys so some of my

favorite features about car track

besides they actually tracking and

retrieving your cars when in an

emergency or hijacking apparently they

also have like a recovery rate of

greater than 90% And this figure has

been extendedly audited so they're not

just saying it so basically if your car

goes missing car trck is more likely to

actually find your car so don't stress

like relax anyways that's not my

favorite feature my favorite feature is

firstly the car watch feature so I know

some of you guys are in your corporate

girly era and you're trying to get your

fashion style up so a lot of you might

be going to Small Street to get your

fashion Bargains or as Jens you might

enjoy chilling at your boy gassi for

that nice shyama whatever the case may

be just remember to always Safeguard

your assets including your vehicle

luckily car track has a feature called

car watch that you can switch on this

feature notifies the car track control

room and tell them to place Special Care

on your vehicle so if there's any

suspicious movement around your vehicle

or even if your vehicle is switched on

car track will call you immediately and

check if you're aware of such movement

actually remember I once went to go do

my nails at a questionable establishment

and I switched on this feature because I

was like you know I'm trying to save 100

Grand on my nails but I'm not trying to

lose my car but anyways when I was done

with my nails I went back to my car I

switched it on and before I could even

put it and drive I got a call I

obviously forgot to sarch off the car

watch feature got a call from car trek

and they're like hey someone's trying to

move your car I was like oh my goodness

it's me it's me but I was also quite

happy about this because I actually got

a chance to test the feature so it's not

like I'm just switching it on for fun I

saw that it actually worked other perks

to look out for relate to your insurance

premium so when you have a tracking

device installed your insurer is likely

to reduce your premiums this is because

you've got an extra layer of security on

your car it's not just insurance and

when you consider the cost of losing

your car versus a car track premium

which is probably going to cost you less

than your next lunch the choice is clear

pricing starts from 99 R per month

however head over to their website so

you get to see the full picture I do

have the link in my description box so

make sure you click on that and let's

continue with the video Oh and before I

forget installation is free the car

track team will actually come to you

wherever it's convenient for you I

remember when I got my second car I was

kneed deeep in busy season so I did not

have a chance to go get it installed the

car track team actually came and

installed the tracking device at my

office parking lot and also guys whilst

I Was preparing for this video sorry

whil I Was preparing for this video I

realized it's a log book feature I

haven't really been you know using that

app cuz I'm like whatever I just go I'm

there to see where my car is but because

I saw the log book feature is there and

you guys know I'm in business now so I

kind of need to know business kilometers

versus personal kilometers um so I will

definitely be using that and that's also

going to help me during tax season

because you know when I'm trying to

claim bag sets and deductions I can just

make use of my log book feature on card

track I don't have to document too much

I can just snap snap snap and I have the

reports ready but anyways don't tell and

put you on car track putting you in

control let's continue with the video

and number eight we've got the Renault

triba this is

$224,999 with the monthly installment of

4,700 also from renal if you're a brand

person reenal Kiger this is

239,900

7 all right at number nine we have the

Kia Picanto this is

235,000 I 10 at

239,900 Grand or a monthly installment

of

4,997 all right so that's your top 10

not sure if you're happy with it not

sure if you're fa made the list or not

but don't worry I do have a couple of

extra cards that I did want to quote

just for your interest so there's the

Mahindra XUV 300 so Mahindra has made

quite a big comeback these last few

months it comes in at

267,464

Cherry too Pro 4 this is

$279,900 or you're looking at a monthly

installment of 5, 823

R and then lastly the polo the polo Vivo

coming in at

29,400 Rand or a monthly installment of

5,44 Rand all right cool if your car

didn't make the list don't stress make

sure you subscribe to this channel

because next week I will be dropping my

top 10 mid luxury cars so maybe your car

will actually feature there if you're

still tuned in drop a comment and let us

know what your first car was and how it

treated you or if you're still looking

to buy your first car drop a comment and

let us know what you're looking at and

hopefully someone in the comments will

be able to give you some form of advice

or recommendation uh relating to your

car because at the end of the day we're

a community and we're all here to help

one another

cool all right guys so now that we're

done with the top 10 cars some of the

prices might be way out of your price

range but don't worry I will give you

Alternatives because you don't always

have to be paying those amount so

firstly you don't have to get a brand

new car okay those are brand new cars

that's why they cost so much you can get

a demo car a demo car is basically a car

that's been used in the dealership where

they use it for test drives or they just

use it to Showcase to other customers uh

so this car countes as secondhand or you

can actually just get a secondhand

number two if the prime rate changes so

the interest rate that I used was prime

plus two if Prime drops which is the

base your installment will also drop I

know over the years Prime has actually

just increase I remember when I bought

my first car Prime was around 7% and now

it's currently at 11.75 so a lot of

people are not happy with the increase

in fact some people have actually had to

give back their cars and also give back

some houses because of how much it has

increased so a lot of us are actually

just hoping and praying that it does

drop other ways of reducing the interest

that you charg is actually having a good

credit record so if you're not sure what

this is I did a video on this so head

over and check that out another option

is if you're someone who left University

and you didn't have much credit on your

name which is expected because you're a

student don't worry we have a young

professionals bank account and this

really helps you because Banks

understand that you're a new person you

probably just entered the job market so

they kind of trust you and they give you

a favorable rate but I will also leave a

link in my description box so that you

can actually apply for your next young

professional bank account another way to

lower your installments is to actually

put up a deposit so for your deposit to

actually makes sense it usually has to

be quite substantial so putting in a

deposit of like 10% or 20% of your

vehicle might actually help reduce your

monthly installment by a lot so just

play around with the finance calculator

and see what actually makes sense next

others will also opt for a balloon

payment which basically means that at

the end of your six years or at the end

of the term of your car you will pay a

lumsum amount so you're saying don't

Factor it into my monthly installment

however I will pay in cash in one go at

the end of the term if you're not sure

about what a balloon payment is or

you're not sure if if it's good or bad

check out another video I made about

balloon payments obviously guys it is

not recommended this is not something

you rush into however some people will

find that they already have a balloon

payment and now they're panicking don't

worry the video will cover what you can

do about your balloon payment and how

you can deal with it cool another option

is you may have in-house financing from

the dealership so maybe if you go to

Hyundai they'll say okay we have Hyundai

financing or VW or ford financing

whatever brand you're going with however

please be very careful and actually look

at the deal you're about to sign because

sometimes they can give you a very

favorable installment so if I've quoted

here and I've said oh a poloo is going

to be 5,500 they can tell you oh don't

worry you only have to pay 3,500 if

something sounds too good to be true you

need to investigate why the reason some

of these dealerships can offer you these

great deals is because they play around

with your financing so just make sure

you're aware of everything you're

signing other way to get a lower amount

is to actually get an older model so

right now I've quoted you on 2023 2024

Vehicles so if you're looking for like a

2019 2020 vehicle

you might find that that is much cheaper

because it is considered old however

with these cars you might not find them

at your reputable dealerships you might

actually find them in smaller

dealerships or like at on cars.co.za

AutoTrader we buy cars whatever the case

may be just remember that when you're

buying such cars especially if they're

secondhand remember that you need to do

so many inspections there's so much more

that you have to do when you're buying a

second car from a company that cannot

offer you any guarantee or warranty so

it's always advisable that you do take

someone who is quite knowledgeable

around cars just to make sure you're not

making a bad

purchase let me just give you my final

parting tips so firstly fuel efficiency

consider this how efficient is the car

because you might find a really

affordable car but it chars a lot of

petrol number two always be flexible so

when you're buying a car do not budget

to the tea if your installment increases

or decreases be able to accept those

changes number three also look at the

replacement parts Market if you can

especially if you're buying a car that's

not brand new and lastly please remember

to enjoy the process this is your car

it's your hard-earned money and do not

allow people with their little comments

about oh there's no boot space here or

oh why this car and not that car because

chances are the person saying this has

probably never bought a car in their

life and if you're really serious about

buying a car and you're still a bit

anxious don't worry I've actually

written a guide book which covers every

single step tips checklist all the

things I wish I had when I bought my

first car but anyway thank you so much

for tuning in my name is n and I have

enjoyed this video I hope you have too

and don't forget to check out the link

in my description box get yourself a car

track quote and see if you're joining

the family like I have bye if you

enjoyed this video please tip me with

the like comment and

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