January 17, 2022
Your budget might be tight this month after the December holidays and New Year celebration, so to know which cars are the most cost-effective sounds like great news. Let’s see what could be some of the most cost-effective cars to own for South African motorists.1
Fuel prices have been increasing steadily, stressing motorists’ budgets. For example, the price of a litre of petrol inland (95 ULP) rose from R14.86/L in January 2021 to R19.30/L in November 2021, which amounts to a 30% increase over 11 months.1
These increases made history, the largest ever seen in South Africa. Brent crude oil prices are largely to blame for this, with $85 a barrel being the current price. Experts estimate the oil price to continue to rise to $110 per barrel in 2022. The Automobile Association (AA) expects this price scenario to stay for quite a while.
The Rand’s gradual weakening to over R16 to the dollar in December has also worsened the problem.
Recently published, this Guide shows prices of spare parts covering eleven categories of cars in South Africa. The AA selected those spare parts that motorists commonly require over the lifetime of a car.
The Guide covers sixty-three different vehicle types, including several budget cars. The AA also focused on the more popular, affordable, and best-selling cars available in South Africa. These include the Volkswagen Polo Vivo, the new Nissan Magnite, the Ford Figo, the Suzuki Vitara, the Mahindra XUV 300, and the Citroën C3.
Prices of all the cars mentioned above ranged from R255 800 to R269 900. Regarding service parts, the Ford Figo came first with R3 347, followed by the Nissan at R3 692. Finally, the most expensive spare parts belong to the Mahindra at R8 916.
Again, the Ford Figo reached first place at R8 700, followed by the Nissan at R12 738. The second most expensive was the Citroën at R20 460, with the Mahindra as the most costly at R21 455.
The Ford Figo reigned again at R53 254, with the Mahindra as the most expensive at R117 893.
Please note, this article can only be a source of information. Please consult a registered financial service provider for more information before buying any car insurance product.
The above provides a quick idea regarding which car is the best option to buy. If you intend to buy a new car, remember that you are legally required to buy comprehensive car insurance if a financial institution finances the new car. This is where PMD comes to the rescue with its affordable, comprehensive car insurance with fixed premiums* and a reduce to zero excess*. Why not contact PMD and find out more? T’s and C’s apply.