Owning a personal car is impotent especially when you have a family, but without modest salary, you will find it hard to sustain your lifestyle.
It is advisable that you first analyze yourself and determine whether having a car could deny you the lifestyle you would like to live in.For your information, a car is like a kid, it needs fuel, insurance, service and repair. All these require money.
It is very surprising to see young generation, who can’t even sustain themselves, go for luxury cars and at the end of the day, they survive on loans, which is equivalent to borrowed lifestyle.
What most people don’t realize is that personal cars, especially in countries like Kenya, Uganda, Tanzania and most parts of West Africa, are not so important because most people have the option of using public transport. In these countries, we also have more than half of the population living below poverty index, meaning that a car is a luxury to these people.
In Kenya, for instance, more than half of middle class population can only afford a car of less than Ksh1 million. Majority of these people purchase these cars through car loans provided by banks. It is advisable that the only people who manage to live comfortable lives while owning personal cars are those earning above Ksh150, 000 per month. It is for this reason that we advise individuals earning Ksh 0-Ksh 100,000 to avoid owning personal cars if at all they intend to invest their hard earned cash.
But if these individuals go ahead to own personal cars, they have to be careful on the brand they buy. The most recommended brands are Toyota, Mazda Demio, and cars which cost less than Ksh500, 000.
Toyota cars are not only cheap but also easy to get their spare parts.
Does it really make sense owning a personal car when your monthly salary is ksh50,000?If you own one and you manage to save Ksh20,000 per month, please tell others the magic you use so that we can together change the world.
