SETTING A PRICE FOR YOUR CAR

Determinants for car prices

Prevailing price
Kabagambe explains that before deciding on the price, you should first research about the prices on the market. He says you need to have information about the best selling cars and make sure that your vehicle is in a good mechanical state. Some of the cars that are currently on high demand include; the Toyota Premio, Raum and Vitz, among others.

Fuel consumption
“Cars with low fuel consumption or emission are preferred by low income earners. Cars that are in good mechanical state for example with good tyres, shock absorbers and engine may be sold faster than those whose mechanical condition is demanding.”

Availability of spare parts 
Availability of spare parts also matters in car pricing since secondhand cars are commonly preferred by people with limited income. They usually avoid vehicles whose spare parts are not readily available.

Year of manufacture
Some car buyers consider the year of manufacture and distance covered. Therefore, one should price the vehicle in consideration of the manufacture date and the distance it has covered.

Seating capacity
The seating capacity is also essential especially for people with big families. They prefer cars that can comfortably accommodate their families. Other buyers particularly business people are interested in the loading capability.
“You can look for buyers through contacting used car dealers, workmates, social media and trusted friends who cannot connive with buyers to cheat you,” he explains.

Julius Muhirwoha, a businessman and a student at Kampala International University recently bought a Vitz through a broker at Shs8m.

He told the brokers to look for car whose registration number plate was between UAL and UAM anticipating that cars in that range are in good condition.
“I made sure ownership was changed before I fully pay the amount we had agreed upon. I did this because I think car dealers are dishonest,” says Muhirwoha. Therefore, just like Muhirwoha, you need to take some precautions before buying or selling a car.

Selling and buying tips

An agreement
Robert Mucwa, a lawyer with Tumusiime, Irumba and Advocates and Solicitors on Kampala Road, explains that there should be stringent conditions protecting both the seller and buyer. The terms and conditions should be clearly spelt out in an agreement stating whether the payment will be full or in instalments.

The terms may include the period when the balance would be fully cleared, the condition in which the car was at the time of sale. “Such an agreement is important especially to the seller because every person has different driving skills and thus a person might want to reclaim his money after blowing your car engine.”
Kabagambe says in case the buyer pays half of the amount agreed upon, make sure you include a clause in the agreement that binds the buyer to pay even when the vehicle is involved in an accident before completion of the debt.

Witnesses
The treaty must be witnessed by reliable people, for instance the spouse, parents, sibling or employer. In case you are a dealer in used cars, better register your business because one may take advantage and adamantly refuse to clear the balance. It becomes difficult to win such a case in court since you may not be having documents that recognise you as a car dealer.

Protect yourself
Mucwa advises that the agreement you make should protect you from problems in case the car engine breaks down due to bad driving. Therefore, you the seller should mention in the agreement that you are not liable for what follows after payment.

Have full details
“In case the buyer pays half of the money, make sure you have their details such as physical (residence) address, workplace, employer, and telephone contacts. If possible, ask them to present sureties who can be his employer, sibling and parents whose financial status is appealing.”
Mucwa says having such vital information would save you from incurring losses in case the buyer does not comply with clearing the balance. He also adds that you should not give log book to the buyer until they have fully cleared.

Precautions

Check for ownership
Muhammad Kawalya; director SMK Tyre Centre on Bombo Road also adds that, “You should not make payments for a car before checking ownership from URA. This would save you from being conned and end up in jail in case the seller stole it from another person.”

When checking for ownership, you must go with a photocopy of the seller’s identity card, passport or driving permit because there are many people who could have similar vehicles in similar names.

Take your time when paying
“Do not carry sums of money before you see the vehicle you are going to buy. Some car sellers cannot be trusted. They can connive with thieves upon seeing the money especially when you disagree on the price,” Kawalya advises.

Avoid unclear sales
He adds that you should be quick to distance yourself from the deal once URA finds the vehicle registered in the names of another person. Other things you should put into consideration while buying a used car is the status of the engine, shock absorbers, seats, and lights. It is better to use your own mechanic to check the state of the vehicle.

Inspection
“When checking the condition of the car, use your mechanic to inspect it. He must explain to both the buyer and seller which parts need repair before you sit down for the bargain,” Mucwa adds.

The log book
Do not leave the seller’s premises without a log book in case you have paid the full amount. Mucwa says, “The seller should also give you the URA transaction number and password that you use to change ownership. When you leave the log book behind, the former owner might accuse you of theft since the law recognises the person with the log book as the rightful owner.”

However, “In case you have paid part of the required amount, make sure you are given a receipt. Some people are dishonest and can easily deny that you paid.”
“If it is possible, include the warranty period in the covenant because the vehicle may breakdown just after purchase. If the agreement does not mention the warranty period, it becomes difficult to bail yourself out of the problem,” Mucwa explains.

Make transfers immediately

Singling out the December accident that claimed the life of Bukomansimbi District Woman MP Susan Namaganda, Dr Steven Kasiima, director traffic police warns the public against delaying change of vehicle ownership. The taxi that crashed into the legislator’s car had been sold to another person who was yet to transfer ownership into his name. The police had to arrest the former alongside the latter to help police in investigations.

REF

http://www.monitor.co.ug/Business/Auto/Setting-a-price-for-your-car/-/688614/3090772/-/item/0/-/jxwk59/-/index.html

STOP WORRYING ABOUT THE PAY-DATE WAIT BY WILLIAM LUBUULWA

For Jean Mayende, it wasn’t a lack of savings that led to her living pay-date to pay-date. In fact, the 45-year-old Nabbingo resident had had her National Social Security Fund monthly obligations diligently remitted. However, when she lost a job, she realised her money was out of reach, and she had to resort to very frugal living. 
“We tell people to put money into retirement accounts where they can’t touch easily,” Mayende says, “but we need an emergency fund to carry us through ugly situations.”

Mayende eventually landed a job of marketing agriculture produce and was able to put away some money in an accessible savings account in a bank for a year’s worth of expenses. This was achieved after going through a period of stretching one salary to the next. 
We all have our financial challenges but people end up living pay-date to pay-date for a number of reasons. They could be forced into the situation by events outside their control, or it could be the result of financial choices they make. Either way, it is not an enjoyable way to live. Here is how to get out of the pay cycle and on a comfortable budget.

The first major step one should take is to cut spending. If you have a written budget, and still do not have any extra coin left each month, the rational thing to do would be to reduce expenses. 
Mayende says her period of pay-date to pay-date living was a little more manageable because she already had a history of frugal living upon which to fall back. After graduating from university in debt, she discovered how to survive without much money. Today, she has long serviced her debts, but she is still cautious about her spending. 
“If you can’t pay cash for something, it’s probably not a thing you really need,” she says of most purchases.

Saving a million Shillings a year
For those who are trying frugal living for the first time, here is my submission on ways to save just a million Shillings a year. Perhaps many Ugandans cannot save Shs1m because of their monthly incomes and responsibilities, but the suggestions below can be very helpful.
As you leave home, pack personal lunch rather than eat out in a posh restaurant. I am not talking about fast foods here. Simple packs like chapatti and beans (call it kikomando) can do. It does not hurt to carry drinking water to your workplace instead of buying a bottle or two of mineral water every day.

Eat light and cut down on meaty foods. Although eating a lot of meat can be a sweet thing to both the young and old, it can cause unnecessary discomfort to the daily consumer in terms of health yet it is also costly.
Some people are passionate about laundry and do it almost all the time throughout the week. This wastes a lot of water, soap and personal energy. To save on money spent on water bills, laundry should be done once or twice a week. You should also consider using gas instead of electricity; and always have your cooking done in a short time to save gas or charcoal. But the greatest step to save is to stop impulse shopping - become a critical consumer by ending unplanned shopping.

The above may not seem to amount to a lot of monetary sense, but someone who follows these suggestions continually could save up to a million Shillings per year to begin a modest investment. 
Nonetheless, it is pointless to put in practice all the above money-saving approaches at once to make a positive difference. I would suggest that you go slowly on a new approach after introducing one for some time. Check your weakness, and put a spending limit on the items/areas that greatly consume your would-be savings.

But the best way to jump the pay-date to pay-date wait is to think of innovative ways of growing one’s incoming money. Do whatever it takes to find legal ways of increasing availability of cash in your possession. Although money-making ideas may not be as numerous as cost-cutting alternatives, there are still adequate ways of bringing in more money into your pockets. These ideas might be useful: if your current employer is comfortable with it, get a second or even a third job outside the hours of your present work; ask for a promotion if this is appropriate; or return to college for more practical and relevant skills which could lead to a better-paying appointment. 
Of course, some of the above routes may take time and, going back to school, is very expensive these days. But still, increasing one’s income remains the best approach to breaking the pay-date to pay-date cycle, so long as you stay clear-headed during spending. Little behavioural changes can add up to become enough savings in your bank account.

Handling your money situation
Let me share my experience at a recent editors’ conference. A female colleague confessed to me that she had a budget shortfall every month. She, however, explained that she planned to open a side business to cover the shortage. The fault I had with her, just like with many others, was that she did not believe in having a written budget. 
“Don’t start trying to earn more money until you are able to direct all that you have what to do,” another colleague who had heard us, advised.

In a number of situations, making more money may not even be necessary to address an apparent scarcity. Many people may be having enough money to cover their necessary expenses, but they could be reckless spenders. 
“Sometimes it’s not a money problem,” a third colleague said, “it is always lack of financial discipline.” Indeed, as this friend noted, many people are exceptionally badly behaved in management of personal finances.
Simon Kasirye, a Kampala-based publishing expert and author of ‘Vision 2040: How You Can Prosper as Uganda Prospers’ is very passionate about personal finance management and economic patriotism. He advises that the best way to gain control of your finances is to take advantage of wise counsel and decide how to spend your money. 
He recommends government to take centre stage in sensitising all the youth financially irrespective of their education levels. This, he says, can help them manage their finances and keep them out of the pay-date to pay-date imprisonment.

“Youthful Ugandans should take advantage of our soils and benefit from agriculture. There is a lot to do in agriculture even when you are a salaried employee. There is viable business in agriculture,” Kasirye further advises.
He suggests having a written plan that looks at two or three months into the future, so as not to be caught off guard by impromptu expenses; and not to be a financial prisoner of the pay-date.

Living pay-date to pay-date may be temporary for some people, but many workers live such a distressing life perpetually. Mayende knew she would ultimately earn enough to give her financial relief someday, but it was an endless struggle to meet her personal needs. “Sometimes I couldn’t even buy simple clothes in a flea market,” she remembers. 
While extra income can fix gaps, living pay-date to pay-date has more to do with an individual’s lifestyle than their income. We know that Ugandan MPs earn well over Shillings 15m but some of them constantly battle with financial lawsuits; yet we see many financially sound teachers who make a miserable half a million Shillings per month!

Museveni campaigns at night in Gulu

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NRM presidential candidate Yoweri Museveni addresses a rally at Kaunda Grounds in Gulu Municipality on Sunday. photo by J. OCUNGI. 

By  JULIUS OCUNGI

Posted  Tuesday, February 16   2016 at  02:00

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Kampala- NationaNational Resistance Movement (NRM) presidential candidate Yoweri Museveni on Sunday wound up his campaign in northern Uganda with assurance that the coming elections will be conducted without any violence.

Mr Museveni made lightning visits to Arua, Lira and concluded his rally at Kaunda Grounds in Gulu Municipality, starting at 7.30 pm and ending at about 8.30pm.

The night rally was conducted under the watchful eyes of police officers, who their boss Gen Kale Kayihura, had earlier warned FDC’s Kizza Besigye against holding night rallies while defending Mr Museveni over similar offences.

Mr Museveni expressed delight in visiting the three districts saying he had come to hit the last nail in the election campaign.

Speaking in a mixture of English and Acholi, Mr Museveni said despite the much spoken about tension, there would be no violence after the elections.

“The NRM government was the one that brought kuc (peace). There is no way the Opposition can cause violence because they do not know how to fight, how can they? Mr Museveni said.

“The likes of Dr Besigye and his counterparts have been making a lot of nonsense lately of disturbing the country with false information, but I can assure you the country will be peaceful,” Mr Museveni added.

He said NRM stands on solid foundations of peace and unity and it’s upon those pillars that his government has been able to restore order in the country.

“We don’t condone sectarianism, ethnicity and religious discrimination, we value every one, because we believe the country belongs to each and every one irrespective of their origin,” Mr Museveni said.

It is against the Electoral Commission guidelines for any candidate to campaign after 6pm.

SEE RELATED STORY

Kayihura warns Besigye over night rallies, defends Museveni

editorial@ug.nationmedia.com