South Africans are often advised to buy the car they can afford, but affordability is increasingly about more than the purchase price or monthly instalment.
As vehicle technology becomes more advanced and additional ownership costs continue to emerge, experts say motorists should consider the total cost of owning a vehicle before signing on the dotted line.
Hidden costs of vehicle ownership
One of the latest concerns is a proposed vehicle-linked fee to help fund the Road Accident Fund (RAF).
If introduced, the fee would add another compulsory cost to annual licence renewals and vehicle registrations.
The RAF already receives more than R48 billion annually through the fuel levy, yet it owes more than R518 billion while holding assets worth only R33 billion.
The proposal is likely to face resistance from motorists who believe the existing system should be addressed before additional costs are introduced.
Technology is making repairs more expensive
Modern vehicles are becoming increasingly reliant on sophisticated electronics and specialised components.
Recent recalls involving Ford Transit and Tourneo models over a transmission defect that could result in a sudden loss of forward or reverse movement highlight how dependent vehicles have become on advanced technology.
Although recall-related repairs are carried out at no cost to owners, they illustrate how expensive vehicle maintenance and repairs can become once a warranty expires.
Looking beyond the monthly instalment
Mike Pashut, CEO and Founder of ChangeCars, said buyers should consider the long-term costs attached to the technology included in modern vehicles.
“A feature packed car may appear to offer exceptional value, but buyers must establish what those features could cost to insure, calibrate, repair or replace,” says Mike Pashut, CEO and Founder of ChangeCars. “The affordable option is not necessarily the vehicle with the lowest instalment. It is the one whose full ownership cost remains manageable.”
Electric vehicle market continues to grow
The electric vehicle market is also evolving rapidly.
Geely is reported to have received around 1,200 orders for its E2 in less than three months, while BYD accounted for 1,026 of the 1,293 officially reported electric vehicle sales across March, April and June.
However, not all manufacturers report sales to naamsa (The Automotive Business Council), meaning overall market growth may be stronger than official figures suggest.
Younger buyers are changing the market
Financial pressures are already influencing buying decisions.
Buyers under the age of 35 accounted for 34.9% of Standard Bank-financed vehicle purchases between 2021 and April 2026.
Chinese vehicle brands also experienced significant growth, increasing by more than 423% between 2021 and 2025, driven by competitive pricing, generous specifications and warranty offerings.
A call for greater transparency
The report argues that South Africa should introduce a standard vehicle affordability disclosure.
Rather than focusing only on the monthly repayment, it should also provide estimated costs for insurance, servicing, tyres, technology repairs, energy and taxes, giving consumers a clearer picture of the true cost of vehicle ownership.
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