Are affordable cars truly worth it?

Exploring the hidden costs of ownership

- STAFF REPORTER

South Africans are feeling the financial squeeze, and car ownership is no exception.

With over 80% of households concerned about the rising cost of living, the difference between securing a good deal and falling into a financial trap often lies in the fine print. One of the most common pitfalls is opting for an “affordable” car, only to realise later that it comes with significant hidden costs.

“A vehicle should offer freedom, not financial strain, but too often what looks affordable upfront ends up costing far more over time,” says Heide de Lange, spokesperson for Motor Plan Direct.

From long-term financing traps to unexpected maintenance costs, de Lange shares seven key strategies to help South Africans reduce financial risk and make smarter long-term car-buying decisions:

Beware the 84-month trap

Long financing terms may lower monthly repayments, but they often increase the total interest paid, sometimes by as much as 50%, due to compounding interest.