Owning a car is a great thing, especially in Africa where the benefits are limitless. The good thing about cars in Africa is that the market is still growing and with competitor brands making their way to African nations, the prices of vehicles are greatly reduced. There are also many vehicles that have been manufactured with the African roads in mind for maximum performance. Below are 5 major benefits of owning a car in Africa:
Loan application and granting is easier when you have a car
Image Source: www.whatisalogbookloan.com
Log Books are great loan Collateral
Banks in African countries offer their clients a chance to use vehicle logbooks as collateral. A log book is what shows who owns a particular vehicle and the bank can hold it until the loan is cleared. People who own vehicles have an extra advantage when they want to apply for a loan because all they need will be the log book.
Cost Efficient Traveling
Traveling in Africa can be such a hurdle especially because the public means of transportation can be quite expensive when a large number of people are concerned. If there is a planned trip, owning a vehicle can help in saving a significant amount of money because when as many as 5 people can fit in one car, half the amount of money they would have used in paying for public transportation can be used in fueling the vehicle and the rest can be saved. It is however important to state that having the car will only be efficient when there are a considerable number of people traveling in it as opposed to just one person.
Mark Of Prestige
In Africa, men and women take pride in the machines they drive. The society has trained the people to judge people’s wallets and social status by the vehicles they have. Owning a car will command respect from peers, family and friends. Though some people might have interest in the type and model of the vehicle, most will just pay attention to the fact that you own a vehicle and give you respect for that.
It is an Asset
Vehicles are not much of liabilities in Africa. This is because the second hand market is still very much a live with many people opting for used vehicles that are a bit lenient on their pockets. When you purchase a vehicle, it means you will benefit from all the services it has to offer and still, you can resell it in future, recover part of the money you used to buy it, add a little and get a better versions or sort out some financial issues.
A car is very good collateral for a loan from banks in Africa. Hand in your logbook, get money
Image source: http://en.wikipedia.org/wiki/Toyota_Land_Cruiser_Prado
Easy Maintenance and Comfortable Traveling
Vehicle maintenance has been made cheaper and easy through the availability of all types of spare parts to replace broken or worn out parts. There are many dealers selling high quality parts both new and used and they play a major part in making maintaining a vehicle a cheap affair. Comfort is crucial when traveling and owning a vehicle in Africa makes your traveling as comfortable as you want. Instead of hassling through public transport, you will have your own space and make stops where you please.
