We are all after vehicles that offer us value for our hard-earned rands, but what constitutes value for money? We have come up with several attributes that make a vehicle a good value proposition that should assist you, the buyer, the next time you are shopping for a vehicle and have value at the top of your list of priorities.
Since we all have different requirements and indeed, find value in different attributes, it is near impossible for us to determine one car that offers the best overall value. Instead, the key points listed here are aimed at empowering you the next time you are researching your next vehicle.
Attributes that determine value for money
Safety
The safety features and general structure of a vehicle speak volumes about how well-engineered and built a vehicle is, making safety a key consideration in the value for money equation.
Specification
The amount of equipment that a vehicle is sold with also important since the more features a car has as standard, the more convenient it will be to use and the more appealing it will be to you, as the buyer, and indeed, to the dealership/ individual who buys the car from you one day.
List price
The initial cost price of a vehicle is important for obvious reasons, with many products with a slightly lower list price often beating out better specified or superior vehicles with a higher list price simply because of their lower initial price.
Practicality and space
Whether you are shopping in the people mover segment or looking at a small budget hatchback, there is no denying at buyers are looking for as much space as possible. This includes the size of the boot, the front occupant space as well as the head, knee and should room in the second or third row of seating, depending on the vehicle in question.
Consumption versus performance
Depending on the segment in which you are shopping, either fuel consumption or performance or a healthy blend of the two will be pivotal. Examples of this include those shopping for a sports car that will be looking for the best possible handling, braking and acceleration while those shopping for a compact crossover may only be interested in the fuel returns. Those of us looking at a performance electric vehicle, for example, may want strong performance coupled with a respectable driving range. The running costs are an incredibly important consideration.
Resale value
Looking at the overall value offered by a vehicle should be looked at as a full ownership cycle, from the initial purchase to the point at which we sell the vehicle months or years later. The value we can get back when selling the vehicle can mean that a product that may have been more expensive to purchase initially, may ultimately cost us less thanks to a solid resale value, or vice versa.
Insurance
Looking at what a product will cost to insure is incredibly important. If we, for example, purchase a vehicle based on the list price and which will have the lowest monthly premium as a result but fail to realise that it is more expensive to maintain than a slightly more expensive product, we may negate the savings that we were after in the first place.
Service/maintenance plan and warranty
The duration and comprehensiveness of a vehicle's service/maintenance plan, as well as its warranty, are incredibly important when looking at the overall value offered by the product.
