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So after working for two or three years at your current work station, the question of whether to buy a car or not must have crossed your mind.
For those that have come to the conclusion of taking this big step, here are a few options to choose from and things to consider. This week we’re looking at some entry level vehicles to consider, for those that want to join the car owners club.
First of we’ll start with buying a new car. Here are some of the reasons you’ll want to buy a new car instead of used:
A few requirements to buy a new car (with bank financing) is essentially that you must have bank account. You must have a valid Namibian Driver’s license. You need to have good credit (not on some sort of blacklist) and you need to be employed permanently (at least for the last six months).
Keep in mind, that entry level (new) vehicles range from at least N$130 000 to N$200 000. In most cases you will be expected to give a 10% deposit although dealerships have no-deposit specials from time to time.
Usually the monthly installment will range from about N$2 000 to N$4 000 and then an additional N$1000 up to N$2000 for insurance, depending on a lot of factors (I will not be going through those today).
Next week we go a bit deeper into prime examples of vehicles and do a light comparison.
