Matrix gives you the option of buying your tracking product online

South African’s looking to purchase and install a vehicle tracking device, can now do so online, from the comfort of their home or desk, through Matrix. This is the second brand within the MiX Telematics Africa Group to offer this market first.

“As a company focused on delivering innovative offerings to our customers and the market, we are pleased to launch our fully enabled e-commerce site,” says Grant Fraser, director of products and marketing at Mix Telematics Africa. “By simply visiting www.matrix.co.za; and following the 5 easy steps¹, consumers can securely purchase the product of their choice, directly online, as well as choose the fitment centre and date that suits them best for the installation, all through the click of a button.”

“We have also launched a budget payment programme via the online site, giving you a payment programme that is more suited to your monthly budget,” adds Fraser.

E-commerce is growing exponentially, with a recent report by McKinsey & Company stating that e-commerce could account for 10% of retail sales in Africa’s largest economies by 2025². “South Africa is certainly part of this growth, and many of our own customers have indicated that they would prefer to undertake purchases online via a secure site, which we are pleased to give them,” says Fraser.

Matrix has increased its technology innovation for customers over the last few months. The e-commerce site launch follows the recent announcement of the availability of its Mobile App.

Continues Fraser; “Our app is a great extension for customers. Through a Smartphone or Tablet that support IOS or Android, customers  can now receive “harsh” driving alerts, but more importantly, they can instantaneously report if their vehicle has been stolen or if roadside and medical assistance is needed at any time of the day or night, directly from their mobile device. We have also enhanced personal security features within the app, and now users get ‘early warnings’ of vehicle movement. Once ‘early warning’ is enabled, and a customer has parked their vehicle, they able to lock the car position from the app. Any unauthorised movement will result in an alarm being generated to our 24/7 national operation centre and the owner notified immediately.

“From start to finish, the app guarantees peace of mind through real-time feedback on vehicle location, as well as an immediate response in an emergency, in a time where every second counts with regards to your safety. This app, together with our fully enabled ecommerce site, ensures customers can interact with Matrix at their own convenience and time – with ease,” Concludes Fraser.

Notes:

¹ Step 1: select package, Step 2: supply personal details, Step 3: set up direct debit order with banking details, Step 4: Select fitment centre, Step 5: Processing of an upfront account initiation fee*

²http://www.africa-ontherise.com/category/editorials/page/3/

About MiX Telematics

MiX Telematics is a leading global provider of fleet and mobile asset management solutions delivered as SaaS to customers in over 120 countries. The company’s products and services provide enterprise fleets, small fleets and consumers with solutions for safety, efficiency, compliance and security. MiX Telematics was founded in 1996 and has offices in South Africa, the United Kingdom, the United States, Uganda, Brazil, Australia and the United Arab Emirates as well as a ne2rk of more than 130 fleet partners world-wide. MiX Telematics shares are publicly traded on the Johannesburg Stock Exchange (JSE: MIX) and on the New York Stock Exchange (NYSE: MIXT).

Matrix gives you the option of buying your tracking product online

Penn. Man Accused of Buying Auto Insurance From Scene of Auto Wreck

Authorities say a Pennsylvania man called an insurance coverage business from a crash scene to buy auto coverage and later claimed his wreck happened right after he got the policy.

The Altoona Mirror reports that the insurance coverage fraud charges filed this week against 33-year-old Michael Traveny stem from an Aug. 21 crash in Duncansville, Pennsylvania.

State prosecutors say Traveny didn’t have insurance when he crashed that evening so he named Protected Auto Insurance from the scene and purchased coverage without mentioning the wreck.

Prosecutors say Traveny filed a $ 3,900 claim the next day claiming the crash happened after the policy took effect.

On the web court records do not list an attorney for Traveny. He faces a preliminary hearing March 17.

Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Get Insurance coverage Journal Each and every Day

Penn. Man Accused of Buying Auto Insurance From Scene of Auto Wreck

The U.S. Postal Service Is Going New-Truck Buying

If you are old sufficient to remember the 1980s, you will recall that mail utilized to be delivered in Jeeps. They may have looked cooler than the boxy mail vans on the road nowadays, but they have been dinosaurs. Now, the current delivery vehicle—the Grumman Long Life Vehicle, or LLV—has grow to be a dinosaur itself. Constructed on the chassis of the Chevy S10, the aging and obsolete LLVs have puttered past the anticipated finish of their run.

Built among 1987 and 1994, the LLVs are in rough shape. A report released more than the summer by the USPS Workplace of the Inspector Common estimated that in 2013, the upkeep expense for its 142,000-car LLV fleet was close to $ 452 million—or more than $ 3000 per truck. Fuel efficiency was also listed as a concern. LLVs were developed to typical 17 mpg (not poor), but the actual quantity has been about 10 mpg (terrible).

So the U.S. Postal Service is buying for a new truck, and it has issued a request for details from producers interested in supplying the new mail-delivery automobile. The replacement process is still in the extremely early stages, but the contract promises to be a profitable 1 for the winning bidder. The USPS said it plans to obtain 180,000 cars at $ 25,000 to $ 35,000 every single, a prospective $ 6.3 billion worth of new mail vans.

The USPS stated that it wants the new car, like the LLV, to have correct-hand drive, an enclosed van-style body, a heavy-duty automatic transmission, and a sliding driver door. It also wants to be low-cost and effortless to preserve and be in a position to withstand 20 years of extreme use, other LLV attributes. But the similarities end there. The new vans will have safety attributes now normal on passenger automobiles and light trucks, including a front airbag, tire-stress monitors, a backup camera, daytime operating lights, and ABS. The postal service has also known as for more fuel-effective, significantly less-polluting powertrains and is thinking about alternative-fuel autos for a big portion of its fleet.

So what does all this imply to the typical letter carrier? We asked a carrier who has been delivering mail for 35 years. Speaking anonymously to steer clear of ruffling feathers at the prime of the postal pyramid, he stated that when it was introduced, the LLV was a vast improvement over the old Jeeps, which he described as “pieces of crap” with no power steering and a wide turning radius. But the LLVs, he mentioned, are past their prime.

“Right now, they’re rattle traps,” he said. “The heat does not operate half the time they break down a lot when it rains, water comes in about the windshield and the doors. Occasionally the packages get all wet.”

He also ticked off a laundry list of issues with the LLV, which he believed could have been avoided if letter carriers had been involved in the design and style method. For starters, he stated, the exhaust pipe exits on the proper side of the vehicle.

“They require a carrier to help style the truck, not a bunch of pencil necks that do not know what it’s like to carry mail,” he stated. “The Einstein that invented it place the exhaust pipe on the very same side as the driver, so we’re always sucking exhaust.”

LLVs also are not equipped with air conditioning, which this particular letter carrier stated causes drivers a considerable quantity of discomfort on hot summer days. The USPS mentioned in its report that it wanted to include air conditioning in the new trucks. It also claims to have completed a nationwide survey of letter carriers in coming up with new design and style priorities.

What did our intrepid courier consider about the proposed changes?

“I’m glad somebody’s lastly starting to feel about our comfort, as well, since if you are comfy, you are a lot more productive,” he stated.

---

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Sadly, letter carriers must not anticipate speedy delivery of their new rides. The 1st LLV replacements aren’t scheduled to hit the road until 2018.

The U.S. Postal Service Is Going New-Truck Buying

Get invaluable professional assist when buying a employed automobile

We’ve all heard horror stories of folks who have spent thousands of pounds on utilized automobiles – only to uncover out they bought a dud.

So how can you make positive you don’t get caught in the identical trap?

One selection is to spend for a employed vehicle inspection service – these price in between about £100 and £250 and are developed to give you all the info you want to make the correct choice…

What is a employed car inspection service?

A employed automobile inspection service entails a mechanic checking over the automobile you want to acquire to make certain there are not any nasty surprises in retailer.

The RAC says the principal aims of its automobile inspections are to make confident a car is “roadworthy, protected to drive and worth the value you’re ready to spend for it”.

Which firms offer you them?

Vehicles inspection services are provided by the AA and the RAC, as properly as a number of specialist providers.

The RAC variety contains a standard check – the Essentials package – at £99, Essentials Plus at £175 and the Prestige & Classics inspection service beginning at £349.

AA automobile safety checks, meanwhile, expense from £128 for members and from £142 for non-members, based on the engine size of the vehicle and the variety of inspection necessary.

Its inspections supply very same-day feedback and the checks can be conducted on vans and motorhomes, as nicely as automobiles.

Other providers consist of My Vehicle Inspections, exactly where you pay amongst £125 and £155 for a pre-acquire inspection of a current Volkswagen Golf 2.0l, and DEKRA Professional, exactly where rates variety from £99 to £395.

What is included?

The specifics your car inspection service – the nuts and bolts, if you like – depend on the kind of car and the level of inspection you choose.

With a basic inspection, for instance, you will normally get mechanical and structural checks.

With a more complete service, you can anticipate an interior verify and a road test.

And with a specialist prestige inspection, a brand specialist should conduct a wide variety of checks, like an extended road test.

Any disadvantages?

A major downside of getting a vehicle inspection is that it inevitably indicates a delay till you seal the deal – so there’s a danger you might drop the car to another buyer.

And whilst inspections supply a degree of comfort, they are not a cast-iron assure that the automobile is fault-free – and you’d struggle to pursue a claim against the service provider if your auto turned out to be a dud additional down the line.

What’s the option?

The cheapest way to check out a utilised vehicle you are acquiring is to persuade a knowledgeable friend to take a appear.

You can also get your neighborhood garage to carry out a report, but in any event, just obtaining a companion to supply moral assistance is a excellent concept.

After all, it is often less difficult to negotiate a deal if you have a person to back up your point of view.

Get invaluable professional assist when buying a employed automobile

On the web Buying Tax: Yes or no?

A new report by the Institute of Public Affairs (No to the GST attack: Why the exemption for online purchases must stay), argues that putting a GST on low-value imports will not help Australian retailing, and will only succeed in making Australians pay more when shopping online.

What’s the proposal?

Australia has a goods and services tax (GST) of 10% on most goods and services sold or consumed in Australia.  There are a few exemptions to the GST, including education and fresh food – although that may change over the next few years.

Another current exemption is on items purchased overseas for a total value of less than $ 1,000. This exemption has been very contentious and various retail groups have called for the GST to apply to all items purchased from overseas.

Who wants GST to apply to low-value overseas purchases?

Many retailers want the GST to apply to low-value overseas purchases. The Australian National Retailers’ Association, for example, have called for a level playing field, with ANRA CEO Margy Osmond saying: “This quirk in the GST mechanism means revenue that should be finding its way to State coffers for much needed community services, is subsidising foreign businesses. Australians already pay GST on goods purchased locally online or in-store. Fixing this $ 1,000) loophole recognises how much retail is changing.”

On the other hand…

According to the Institute of Public Affairs (IPA), there are several important drivers of high retail costs in Australia, including a highly regulated labour market, severe land use restrictions, and trading hour conditions, and putting a GST on lower-value overseas purchases would do little to stem our collective enthusiasm for buying online from overseas retailers.

To quote the IPA report: “Other things being equal, imposing the GST on imported items valued at $ 1,000 or less may encourage some consumers to switch from overseas to domestic shopping options, but a comparison of selective popular sales items would suggest that a GST on low-value imports would, by no means, dissipate the price advantages presently enjoyed by overseas retailers.

Would it boost government revenue?

Helping to level the playing field for domestic retailers is one thing, but the other important consideration is whether imposing a 10% GST on low-value overseas purchases would actually boost the government coffers once the cost of collecting the revenue was taken into account.

The answer to that one? The jury is still out. In 2011 the Productivity Commission published a report noting that there were strong in principle grounds for the Low Value Threshold to be lowered significantly, but that it shouldn’t happen until it was cost effective to do so. The Productivity Commission report noted that at that time, there were around 58 million international parcels under the $ 1000 threshold arriving in Australia each year. Based on then-available data, the Commission estimated that with current parcel volumes and processing costs, removal of the LVT would generate revenue of around $ 600 million at a cost of well over $ 2 billion borne by businesses consumers and government. It doesn’t really sound like a great deal for anyone…

On the web Buying Tax: Yes or no?

Make festive season car buying a happy occasion to take you into the New Year

It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it advisable to buy a brand new or pre-owned car during the festive season? Yes, as long as you carefully consider all the options available.

“The major benefit of buying a car just before the end of the year is that there are bargains to be had – especially if you are buying a new vehicle,” says Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank. “In addition, you could get in ahead of car price increases that are expected to be higher than the inflation rate during 2015.”

“Many manufacturers have already announced their intentions to bring new 2015 ‘face-lifted models’ into the local market. For dealers, this means that 2014 models that are still on the floor have lost some value, as many buyers would prefer to wait for the 2015 models before buying.”

“If you are happy to drive a brand new vehicle that may not have the ‘bells and whistles’ that could be featured on the 2015 models, you will find most dealers happy to offer incentives for your purchase. If you can locate a demo model with a low mileage, you could do even better.”

Also to be considered, says Mr Nkosi, are the announcements from various manufacturers that the dropping value of the rand, rising inflation and stable interest rates that have characterised the market for several years are about to change. “Car prices are set to increase significantly in 2015, so buying ahead of the rises could mean significant savings in monthly instalments and interest payments.”

However, he adds, buying a vehicle should only come after the necessary research and implications on your personal budget have been considered. “After a house, a car is the most important purchase made by most people. Making sure that it is affordable is important if you are to be happy driving the car for the next few years,” says Mr Nkosi.

So, before taking the December plunge and buying your dream car consider:
• The financial implications. Be sure that your budget can not only cope with instalment payments, but with the costs of insurance, maintenance and ‘add-ons’ such as warranties and service or maintenance plans that are not part of the purchase price.

It is great to own the car of your dreams, but maintaining it can prove to be quite costly. For example, although the price tag on an SUV may be appealing, replacing all 4 tyres on an SUV can easily cost between R 10 000 and R 20 000.

• The cost of insurance rises with a car’s price tag. Trying to reduce insurance premiums by opting for a higher excess payment could backfire if you have an accident and have to pay a massive bill before your car can be repaired.

• If you can, always pay as large a deposit as you can on a car. The bigger the deposit, the less you will have to pay back over the term of the loan.

• Think about the possibility of interest rates increasing while you are paying off the vehicle. This could mean having to pay more for the car every month. If your bank offers you the opportunity to fix your rate, consider this option. It will cost you up to 2 percent above the going rate, but will provide you with financial certainty.

• Consider leasing a vehicle, with the option of retaining ownership at the end of the contract. There are various types of lease options available, including full maintenance leasing. While this option may cost you more than buying, it covers all costs including servicing, tyres and insurance for a set monthly fee, for the duration of the contract.

• Consider your repayment period carefully. Banks now offer flexible monthly repayment terms so that cars can be financed for up to 6-years (72 months). Many people opt for this to make car payments more affordable, as the longer term reduces the monthly expense. However, the longer the finance period, the longer it will take for the settlement value to reach break-even point with the asset value, due to depreciation.

Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank

The difference between instalments over payment periods can often be fairly low. It is advisable to ask the dealer or bank to calculate the costs of various repayment options. You could save yourself months of repayments and interest costs by investigating this option thoroughly.

“If the sums do not add up satisfactorily, consider buying a pre-owned vehicle or downsizing your purchase.”

“A car’s value usually depreciates fastest during its first 2 years on the road. You can save thousands in capital and interest by buying a low mileage car that is still in good condition. You will also benefit through extended maintenance or service plans,” says Mr Nkosi.

Furthermore, opting for a diesel vehicle instead of petrol will result in better fuel consumption, which is something to consider given the escalating fuel costs.

“When considering buying a new or pre-owned vehicle, always keep one thing in mind; it is better to compromise on luxury than having a car that adds to your financial woes,” concludes Mr Nkosi.

For more info on buying a vehicle also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

;

Make festive season car buying a happy occasion to take you into the New Year

Will you be buying in shop this Christmas?

On the internet purchasing is steadily growing as an industry, but about this time of year we see shops continuously complete of people undertaking their Christmas purchasing. So do our purchasing habits favour in-shop getting about the Christmas period?

Not so significantly. NAB’s On-line Retail Sales Index for September 2014 indicates that that online retail is steadily increasing, possessing improved 1.1% since August, and 12.8% since this time final year. It is worth noting however, that on-line retail’s price of growth has slowed over the final handful of years, and traditional retail is also displaying development, albeit at a significantly smaller sized rate (.4% greater than July, and 2.9% larger than this time last year).

However there are issues that this little rate of development is not adequate to save standard retail from the threat of on-line purchasing. Minister for Little Organization the Hon. Bruce Billson lately encouraged Australian shoppers to get their gifts from local retailers rather than foreign on the web retailers, saying that ‘the retail sector is one particular of the key drivers of Australia’s economy.’

“The retail sector has been operating in a challenging environment and undergoing immense structural adjust in recent years and it is essential that we help neighborhood business huge and small, in store and online” he said.

His comments come as component of the Australian National Retailers Association recent efforts to drive support for local retailers during the Christmas period, a time of year anticipated to generate 39,000 further Christmas jobs.

Nevertheless in spite of the efforts of the ANRA and Mr Billson, info from McCrindle Study suggests that even if Australians do select to shop in-retailer, some of them will be spending significantly less in an try to save cash.

22% of Australians stated that they plan on spending significantly less money compared to last year and 66% of Australians mentioned they planned on spending about the exact same quantity of cash they spent last year. Only 11% of shoppers plan on spending far more this year than final.

The individuals who strategy on spending significantly less primarily cited purchasing less presents as their way of saving cash, with other strategies which includes only providing presents to children and not going overboard with meals.

Will you be buying in shop this Christmas?

Make festive season car buying a happy occasion to take you into the New Year

It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it advisable to buy a brand new or pre-owned car during the festive season? Yes, as long as you carefully consider all the options available.

“The major benefit of buying a car just before the end of the year is that there are bargains to be had – especially if you are buying a new vehicle,” says Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank. “In addition, you could get in ahead of car price increases that are expected to be higher than the inflation rate during 2015.”

“Many manufacturers have already announced their intentions to bring new 2015 ‘face-lifted models’ into the local market. For dealers, this means that 2014 models that are still on the floor have lost some value, as many buyers would prefer to wait for the 2015 models before buying.”

“If you are happy to drive a brand new vehicle that may not have the ‘bells and whistles’ that could be featured on the 2015 models, you will find most dealers happy to offer incentives for your purchase. If you can locate a demo model with a low mileage, you could do even better.”

Also to be considered, says Mr Nkosi, are the announcements from various manufacturers that the dropping value of the rand, rising inflation and stable interest rates that have characterised the market for several years are about to change. “Car prices are set to increase significantly in 2015, so buying ahead of the rises could mean significant savings in monthly instalments and interest payments.”

However, he adds, buying a vehicle should only come after the necessary research and implications on your personal budget have been considered. “After a house, a car is the most important purchase made by most people. Making sure that it is affordable is important if you are to be happy driving the car for the next few years,” says Mr Nkosi.

So, before taking the December plunge and buying your dream car consider:
• The financial implications. Be sure that your budget can not only cope with instalment payments, but with the costs of insurance, maintenance and ‘add-ons’ such as warranties and service or maintenance plans that are not part of the purchase price.

It is great to own the car of your dreams, but maintaining it can prove to be quite costly. For example, although the price tag on an SUV may be appealing, replacing all 4 tyres on an SUV can easily cost between R 10 000 and R 20 000.

• The cost of insurance rises with a car’s price tag. Trying to reduce insurance premiums by opting for a higher excess payment could backfire if you have an accident and have to pay a massive bill before your car can be repaired.

• If you can, always pay as large a deposit as you can on a car. The bigger the deposit, the less you will have to pay back over the term of the loan.

• Think about the possibility of interest rates increasing while you are paying off the vehicle. This could mean having to pay more for the car every month. If your bank offers you the opportunity to fix your rate, consider this option. It will cost you up to 2 percent above the going rate, but will provide you with financial certainty.

• Consider leasing a vehicle, with the option of retaining ownership at the end of the contract. There are various types of lease options available, including full maintenance leasing. While this option may cost you more than buying, it covers all costs including servicing, tyres and insurance for a set monthly fee, for the duration of the contract.

• Consider your repayment period carefully. Banks now offer flexible monthly repayment terms so that cars can be financed for up to 6-years (72 months). Many people opt for this to make car payments more affordable, as the longer term reduces the monthly expense. However, the longer the finance period, the longer it will take for the settlement value to reach break-even point with the asset value, due to depreciation.

Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank

The difference between instalments over payment periods can often be fairly low. It is advisable to ask the dealer or bank to calculate the costs of various repayment options. You could save yourself months of repayments and interest costs by investigating this option thoroughly.

“If the sums do not add up satisfactorily, consider buying a pre-owned vehicle or downsizing your purchase.”

“A car’s value usually depreciates fastest during its first 2 years on the road. You can save thousands in capital and interest by buying a low mileage car that is still in good condition. You will also benefit through extended maintenance or service plans,” says Mr Nkosi.

Furthermore, opting for a diesel vehicle instead of petrol will result in better fuel consumption, which is something to consider given the escalating fuel costs.

“When considering buying a new or pre-owned vehicle, always keep one thing in mind; it is better to compromise on luxury than having a car that adds to your financial woes,” concludes Mr Nkosi.

For more info on buying a vehicle also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

;

Make festive season car buying a happy occasion to take you into the New Year

Make festive season car buying a happy occasion to take you into the New Year

It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it advisable to buy a brand new or pre-owned car during the festive season? Yes, as long as you carefully consider all the options available.

“The major benefit of buying a car just before the end of the year is that there are bargains to be had – especially if you are buying a new vehicle,” says Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank. “In addition, you could get in ahead of car price increases that are expected to be higher than the inflation rate during 2015.”

“Many manufacturers have already announced their intentions to bring new 2015 ‘face-lifted models’ into the local market. For dealers, this means that 2014 models that are still on the floor have lost some value, as many buyers would prefer to wait for the 2015 models before buying.”

“If you are happy to drive a brand new vehicle that may not have the ‘bells and whistles’ that could be featured on the 2015 models, you will find most dealers happy to offer incentives for your purchase. If you can locate a demo model with a low mileage, you could do even better.”

Also to be considered, says Mr Nkosi, are the announcements from various manufacturers that the dropping value of the rand, rising inflation and stable interest rates that have characterised the market for several years are about to change. “Car prices are set to increase significantly in 2015, so buying ahead of the rises could mean significant savings in monthly instalments and interest payments.”

However, he adds, buying a vehicle should only come after the necessary research and implications on your personal budget have been considered. “After a house, a car is the most important purchase made by most people. Making sure that it is affordable is important if you are to be happy driving the car for the next few years,” says Mr Nkosi.

So, before taking the December plunge and buying your dream car consider:
• The financial implications. Be sure that your budget can not only cope with instalment payments, but with the costs of insurance, maintenance and ‘add-ons’ such as warranties and service or maintenance plans that are not part of the purchase price.

It is great to own the car of your dreams, but maintaining it can prove to be quite costly. For example, although the price tag on an SUV may be appealing, replacing all 4 tyres on an SUV can easily cost between R 10 000 and R 20 000.

• The cost of insurance rises with a car’s price tag. Trying to reduce insurance premiums by opting for a higher excess payment could backfire if you have an accident and have to pay a massive bill before your car can be repaired.

• If you can, always pay as large a deposit as you can on a car. The bigger the deposit, the less you will have to pay back over the term of the loan.

• Think about the possibility of interest rates increasing while you are paying off the vehicle. This could mean having to pay more for the car every month. If your bank offers you the opportunity to fix your rate, consider this option. It will cost you up to 2 percent above the going rate, but will provide you with financial certainty.

• Consider leasing a vehicle, with the option of retaining ownership at the end of the contract. There are various types of lease options available, including full maintenance leasing. While this option may cost you more than buying, it covers all costs including servicing, tyres and insurance for a set monthly fee, for the duration of the contract.

• Consider your repayment period carefully. Banks now offer flexible monthly repayment terms so that cars can be financed for up to 6-years (72 months). Many people opt for this to make car payments more affordable, as the longer term reduces the monthly expense. However, the longer the finance period, the longer it will take for the settlement value to reach break-even point with the asset value, due to depreciation.

Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank

The difference between instalments over payment periods can often be fairly low. It is advisable to ask the dealer or bank to calculate the costs of various repayment options. You could save yourself months of repayments and interest costs by investigating this option thoroughly.

“If the sums do not add up satisfactorily, consider buying a pre-owned vehicle or downsizing your purchase.”

“A car’s value usually depreciates fastest during its first 2 years on the road. You can save thousands in capital and interest by buying a low mileage car that is still in good condition. You will also benefit through extended maintenance or service plans,” says Mr Nkosi.

Furthermore, opting for a diesel vehicle instead of petrol will result in better fuel consumption, which is something to consider given the escalating fuel costs.

“When considering buying a new or pre-owned vehicle, always keep one thing in mind; it is better to compromise on luxury than having a car that adds to your financial woes,” concludes Mr Nkosi.

For more info on buying a vehicle also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

;

Make festive season car buying a happy occasion to take you into the New Year

Make festive season car buying a happy occasion to take you into the New Year

It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it advisable to buy a brand new or pre-owned car during the festive season? Yes, as long as you carefully consider all the options available.

“The major benefit of buying a car just before the end of the year is that there are bargains to be had – especially if you are buying a new vehicle,” says Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank. “In addition, you could get in ahead of car price increases that are expected to be higher than the inflation rate during 2015.”

“Many manufacturers have already announced their intentions to bring new 2015 ‘face-lifted models’ into the local market. For dealers, this means that 2014 models that are still on the floor have lost some value, as many buyers would prefer to wait for the 2015 models before buying.”

“If you are happy to drive a brand new vehicle that may not have the ‘bells and whistles’ that could be featured on the 2015 models, you will find most dealers happy to offer incentives for your purchase. If you can locate a demo model with a low mileage, you could do even better.”

Also to be considered, says Mr Nkosi, are the announcements from various manufacturers that the dropping value of the rand, rising inflation and stable interest rates that have characterised the market for several years are about to change. “Car prices are set to increase significantly in 2015, so buying ahead of the rises could mean significant savings in monthly instalments and interest payments.”

However, he adds, buying a vehicle should only come after the necessary research and implications on your personal budget have been considered. “After a house, a car is the most important purchase made by most people. Making sure that it is affordable is important if you are to be happy driving the car for the next few years,” says Mr Nkosi.

So, before taking the December plunge and buying your dream car consider:
• The financial implications. Be sure that your budget can not only cope with instalment payments, but with the costs of insurance, maintenance and ‘add-ons’ such as warranties and service or maintenance plans that are not part of the purchase price.

It is great to own the car of your dreams, but maintaining it can prove to be quite costly. For example, although the price tag on an SUV may be appealing, replacing all 4 tyres on an SUV can easily cost between R 10 000 and R 20 000.

• The cost of insurance rises with a car’s price tag. Trying to reduce insurance premiums by opting for a higher excess payment could backfire if you have an accident and have to pay a massive bill before your car can be repaired.

• If you can, always pay as large a deposit as you can on a car. The bigger the deposit, the less you will have to pay back over the term of the loan.

• Think about the possibility of interest rates increasing while you are paying off the vehicle. This could mean having to pay more for the car every month. If your bank offers you the opportunity to fix your rate, consider this option. It will cost you up to 2 percent above the going rate, but will provide you with financial certainty.

• Consider leasing a vehicle, with the option of retaining ownership at the end of the contract. There are various types of lease options available, including full maintenance leasing. While this option may cost you more than buying, it covers all costs including servicing, tyres and insurance for a set monthly fee, for the duration of the contract.

• Consider your repayment period carefully. Banks now offer flexible monthly repayment terms so that cars can be financed for up to 6-years (72 months). Many people opt for this to make car payments more affordable, as the longer term reduces the monthly expense. However, the longer the finance period, the longer it will take for the settlement value to reach break-even point with the asset value, due to depreciation.

Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank

The difference between instalments over payment periods can often be fairly low. It is advisable to ask the dealer or bank to calculate the costs of various repayment options. You could save yourself months of repayments and interest costs by investigating this option thoroughly.

“If the sums do not add up satisfactorily, consider buying a pre-owned vehicle or downsizing your purchase.”

“A car’s value usually depreciates fastest during its first 2 years on the road. You can save thousands in capital and interest by buying a low mileage car that is still in good condition. You will also benefit through extended maintenance or service plans,” says Mr Nkosi.

Furthermore, opting for a diesel vehicle instead of petrol will result in better fuel consumption, which is something to consider given the escalating fuel costs.

“When considering buying a new or pre-owned vehicle, always keep one thing in mind; it is better to compromise on luxury than having a car that adds to your financial woes,” concludes Mr Nkosi.

For more info on buying a vehicle also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

;

Make festive season car buying a happy occasion to take you into the New Year

What you need to have to know just before buying a automobile for your kid

Are you searching to get a auto for your son or daughter?

As a parent, maintaining costs low and making sure the car is safe are the 2 crucial issues. But there doesn’t have to be a trade-off amongst the 2.

I asked Crispin Moger (pictured), CEO at Marmalade, provider of cars and insurance coverage for young drivers, what he thinks parents must look for when acquiring their kid’s very first car…

“When they’re beginning out, young drivers and their parents frequently start looking for a used vehicle, rather than a new model, because they believe that’s the only cost-effective selection.

“But this is not constantly the case. The older the automobile, the larger the expenses of upkeep, tax and insurance. What’s much more, some young driver insurance coverage policies won’t actually cover older cars, which makes life hard if they’ve already bought the vehicle.”

Security concerns

Crispin continues: “Aside from these added charges, there is also the critical issue of security. The simple truth is that newer vehicles have a tendency to be much more robust, much better made and equipped with more and greater safety features.

“Research shows that young drivers are most at danger of becoming in an accident when they are inexperienced and haven’t accrued the road hours that aid them to judge and react in a protected manner.

“That’s why a new automobile need to be the preferred choice. An adult may well have the encounter and capability to drive an older car without having undue concern, but that almost certainly will not be the case for his or her youngster.”

What to look for in a new auto

Crispin provided a handful of pointers on how to preserve a lid on costs when buying a vehicle that nonetheless ticks the boxes safety-sensible:

• Engine size The more potent the engine, the more threat of the young driver speeding and driving dangerously. That’s why we recommend a relatively modest maximum size of 1.4 for young drivers, and we will not insure anything bigger


• Optional extras You may locate a very good deal for car that has alloys, tinted windows and all the trimmings, but beware as these are all features that drive up the price of insurance for young drivers


• Age of the automobile Not only are older automobiles significantly less robust in crashes, but the newer the car, the a lot more safety characteristics it is probably to have. Anti-lock Brakes (ABS) have been a regular feature of all new automobiles given that 2004 and help the driver to preserve handle of the vehicle in an emergency. Extra characteristics such as electric windows and steering wheel audio control adapters help to lessen distractions for drivers and enable them to stay focused on the road. The most recent models also advantage from automatic emergency braking


• MoT It is also worth remembering that, if a car is new, it will not need an MoT for 3 years.


• Telematics Appear for a vehicle that will function with a telematics-based insurance policy as this may nicely support to maintain you child secure on the roads.

How can telematics aid?

One of the major improvements to the security of young drivers in current years has been telematics.

Installing a black box in your child’s auto to monitor driving functionality and qualities has several benefits, not least that it makes them feel about their driving when behind the wheel.

Some policies also operate ‘curfews’, which hold young drivers off the road at times when there is a greater frequency of accidents.

And the important point is that very good, sensible and secure driving is ultimately rewarded with reduced premiums, while bad, reckless and harmful driving is deterred by the threat of greater premiums.

Data protection

Crispin added: “As properly as encouraging your youngster to drive safely, telematics can also assist if there is an accident.

“If it wasn’t your child’s fault, the information in the black box may possibly assist to prove their case. And if the vehicle is stolen, you will be able to hold track of the car so that it can be recovered.”

What you need to have to know just before buying a automobile for your kid

What you want to know prior to buying a car for your kid

Are you looking to buy a car for your son or daughter?

As a parent, keeping costs low and ensuring the vehicle is safe are the 2 key concerns. But there doesn’t have to be a trade-off between the 2.

I asked Crispin Moger (pictured), CEO at Marmalade, provider of cars and insurance for young drivers, what he thinks parents should look for when buying their kid’s first car…

“When they’re starting out, young drivers and their parents often start searching for a used car, rather than a new model, because they think that’s the only affordable option.

“But this isn’t always the case. The older the car, the higher the costs of maintenance, tax and insurance. What’s more, some young driver insurance policies won’t actually cover older cars, which makes life difficult if they’ve already bought the vehicle.”

Safety concerns

Crispin continues: “Aside from these additional costs, there is also the critical issue of safety. The simple truth is that newer cars tend to be more robust, better designed and equipped with more and better safety features.

“Research shows that young drivers are most at risk of being in an accident when they are inexperienced and haven’t accrued the road hours that help them to judge and react in a safe manner.

“That’s why a new car should be the preferred option. An adult might have the experience and capability to drive an older car without undue concern, but that probably won’t be the case for his or her child.”

What to look for in a new car

Crispin offered a few pointers on how to keep a lid on costs when buying a car that still ticks the boxes safety-wise:

• Engine size The more powerful the engine, the more risk of the young driver speeding and driving dangerously. That’s why we recommend a relatively modest maximum size of 1.4 for young drivers, and we won’t insure anything larger


• Optional extras You may find a good deal for car that has alloys, tinted windows and all the trimmings, but beware as these are all features that drive up the cost of insurance for young drivers


• Age of the car Not only are older cars less robust in crashes, but the newer the car, the more safety features it is likely to have. Anti-lock Brakes (ABS) have been a standard feature of all new cars since 2004 and help the driver to keep control of the car in an emergency. Additional features such as electric windows and steering wheel audio control adapters help to reduce distractions for drivers and enable them to remain focused on the road. The latest models also benefit from automatic emergency braking


• MoT It’s also worth remembering that, if a car is new, it will not require an MoT for 3 years.


• Telematics Look for a car that will work with a telematics-based insurance policy as this may well help to keep you child safe on the roads.

How can telematics help?

One of the major improvements to the safety of young drivers in recent years has been telematics.

Installing a black box in your child’s car to monitor driving performance and characteristics has many benefits, not least that it makes them think about their driving when behind the wheel.

Some policies also operate ‘curfews’, which keep young drivers off the road at times when there is a higher frequency of accidents.

And the key point is that good, sensible and safe driving is ultimately rewarded with lower premiums, while bad, reckless and dangerous driving is deterred by the threat of higher premiums.

Data protection

Crispin added: “As well as encouraging your child to drive safely, telematics can also help if there is an accident.

“If it wasn’t your child’s fault, the data in the black box may help to prove their case. And if the car is stolen, you will be able to keep track of the vehicle so that it can be recovered.”

What you want to know prior to buying a car for your kid

Make festive season car buying a happy occasion to take you into the New Year

It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it advisable to buy a brand new or pre-owned car during the festive season? Yes, as long as you carefully consider all the options available.

“The major benefit of buying a car just before the end of the year is that there are bargains to be had – especially if you are buying a new vehicle,” says Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank. “In addition, you could get in ahead of car price increases that are expected to be higher than the inflation rate during 2015.”

“Many manufacturers have already announced their intentions to bring new 2015 ‘face-lifted models’ into the local market. For dealers, this means that 2014 models that are still on the floor have lost some value, as many buyers would prefer to wait for the 2015 models before buying.”

“If you are happy to drive a brand new vehicle that may not have the ‘bells and whistles’ that could be featured on the 2015 models, you will find most dealers happy to offer incentives for your purchase. If you can locate a demo model with a low mileage, you could do even better.”

Also to be considered, says Mr Nkosi, are the announcements from various manufacturers that the dropping value of the rand, rising inflation and stable interest rates that have characterised the market for several years are about to change. “Car prices are set to increase significantly in 2015, so buying ahead of the rises could mean significant savings in monthly instalments and interest payments.”

However, he adds, buying a vehicle should only come after the necessary research and implications on your personal budget have been considered. “After a house, a car is the most important purchase made by most people. Making sure that it is affordable is important if you are to be happy driving the car for the next few years,” says Mr Nkosi.

So, before taking the December plunge and buying your dream car consider:
• The financial implications. Be sure that your budget can not only cope with instalment payments, but with the costs of insurance, maintenance and ‘add-ons’ such as warranties and service or maintenance plans that are not part of the purchase price.

It is great to own the car of your dreams, but maintaining it can prove to be quite costly. For example, although the price tag on an SUV may be appealing, replacing all 4 tyres on an SUV can easily cost between R 10 000 and R 20 000.

• The cost of insurance rises with a car’s price tag. Trying to reduce insurance premiums by opting for a higher excess payment could backfire if you have an accident and have to pay a massive bill before your car can be repaired.

• If you can, always pay as large a deposit as you can on a car. The bigger the deposit, the less you will have to pay back over the term of the loan.

• Think about the possibility of interest rates increasing while you are paying off the vehicle. This could mean having to pay more for the car every month. If your bank offers you the opportunity to fix your rate, consider this option. It will cost you up to 2 percent above the going rate, but will provide you with financial certainty.

• Consider leasing a vehicle, with the option of retaining ownership at the end of the contract. There are various types of lease options available, including full maintenance leasing. While this option may cost you more than buying, it covers all costs including servicing, tyres and insurance for a set monthly fee, for the duration of the contract.

• Consider your repayment period carefully. Banks now offer flexible monthly repayment terms so that cars can be financed for up to 6-years (72 months). Many people opt for this to make car payments more affordable, as the longer term reduces the monthly expense. However, the longer the finance period, the longer it will take for the settlement value to reach break-even point with the asset value, due to depreciation.

Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets at Standard Bank

The difference between instalments over payment periods can often be fairly low. It is advisable to ask the dealer or bank to calculate the costs of various repayment options. You could save yourself months of repayments and interest costs by investigating this option thoroughly.

“If the sums do not add up satisfactorily, consider buying a pre-owned vehicle or downsizing your purchase.”

“A car’s value usually depreciates fastest during its first 2 years on the road. You can save thousands in capital and interest by buying a low mileage car that is still in good condition. You will also benefit through extended maintenance or service plans,” says Mr Nkosi.

Furthermore, opting for a diesel vehicle instead of petrol will result in better fuel consumption, which is something to consider given the escalating fuel costs.

“When considering buying a new or pre-owned vehicle, always keep one thing in mind; it is better to compromise on luxury than having a car that adds to your financial woes,” concludes Mr Nkosi.

For more info on buying a vehicle also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

;

Make festive season car buying a happy occasion to take you into the New Year