Cost of buying a vehicle

MegaKing

Village Elder
#1
today i got to know the cost of buying imported vehicle
25% Duty
20% excise duty
16% VAT

na sellers still wanataka profit
 

denis young

Village Elder
#5
I am planning on off-loading my small car for a compact SUV. I was planning om getting a VW but siko sure how the handle the Kenyan roads. Anybody who can give me some tips? Natamani Touareg
 

jaymoh

Village Elder
#8
Campo nilimaliza last year April. I made my first milli in campus so buying a 800,000 car was not an issue. Now that I have increased my networth I need to buy me an SUV. Fanya kazi and be innovative.
Thanks for the motivation, but ulisema hutaoa kama huna investment inaleta about 500k per year watoto wasikule shida?
The difference between truth and lies is inconsistency~ @mouraythee
 

kah tony

Village Elder
#14
Campo nilimaliza last year April. I made my first milli in campus so buying a 800,000 car was not an issue. Now that I have increased my networth I need to buy me an SUV. Fanya kazi and be innovative.
Advice kiasi for a millionaire. If you made 1M you should not buy a car worth 800K unless you are earning at least 6M a year.

Rule of thumb for good financial management is that you should own a car worth at most 20% of your annual earnings.
 
#19
Advice kiasi for a millionaire. If you made 1M you should not buy a car worth 800K unless you are earning at least 6M a year.

Rule of thumb for good financial management is that you should own a car worth at most 20% of your annual earnings.
That is good advice but hardly realistic. How many people do you know where that applies? Just do a survey of your friends and tell me where that applies. If that was the case my first car would have been a tuk tuk.
 

kah tony

Village Elder
#20
That is good advice but hardly realistic. How many people do you know where that applies? Just do a survey of your friends and tell me where that applies. If that was the case my first car would have been a tuk tuk.
You're looking at it the wrong way. You don't splurge on a car with the first lump sum you get. You said 800K of 1M you spent on a car, a depreciating asset.
Worked for me since first job and I've owned okay vehicles, just have to know what to buy.
 

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