I have reached a point where I think I need some car for my own and my family’s transportation needs. What I am not sure of is whether I should take a loan for this. This is because getting a loan for a private car always earns a person a very bad rap in many circles.
For starters, I have moved to a house where I will be saving around 13k in house rent. Where I work, guys who have cars are paid some 6k allowance. That comes to around 19k. If I don’t buy a car, I will forego the 6k and I will still spend around 5k per month in commuting. Additionally, I will still be squeezing my three kids and wife in matatus whenever there is a need to travel.
Off course I have the option for saving for this car. The problem is that I have tried this but distress calls always depletes my savings. You know Africa. I read a thread here where members agreed that sometimes investing in something and paying loan is more sure than saving and investing later on.
What are your thoughts? I will also appreciate suggestions for affordable, fuel-saving car models. Remember I am a (non-tangatanga) HUSTLER.
If having a car will make the commuting of family members more convenient and reduce the overall expenses, go for it despite the sentiment that taking a loan for a car is inadvisable. However, remember that a car needs money to maintain
We discussed this here and concluded it is good for a man to own a car. If you need to take a loan, do it. You just don’t go announcing that the car has pending loans. You will soon finish the loan and own it entirely.
On maintenance, it is obvious that it is not cheap but that will also challenge you. When you have no money for fuel or repairs, park it and use public means. Utapata pesa na gari itarudi roady.
Fanya ivi Ghaseer bibi ni jobless??? if no/yes take a loan and shika Gari inaeza fanya Uber bibi akue akiendesha morning ana ku drop job jioni the same thing kama ako na job weka mtu kibarua akuendeshee Uber other than kuchukua loan hio gari ilale kwa Shade bills na Loans zitakupiga Cable ajabu
No. But just take the loan. Then go outside Nairobi and purchase a plot of the same amount with potential to appreciate. In 3 to 4 years sell the land and get even a better car or something else. You’ll never regret.
If you can’t afford a car, na sio ya biashara, wachana nayo. Najua ni peer pressure inakusumbua kijana. It is normal for young guys to feel the pressure. Lakini usiguze gari kama hufiki bei. Kubali matokeo and save up.
I will check but my expected increase in disposable cash income is 19k. I don’t know how much loan I can get whose repayment does NOT exceed three years. Any advice?
As we speak nangoja loan ya sacco iivane Hata Mimi ninunue gari. This business of commuting or Uber is tricky especially with a family. Loan lazma tuishi nazo