The Value for Money (VFM) is defined as the utility derived from every purchase or every sum of money spent. VFM is based not only on the minimum purchase price but also on the maximum efficiency and effectiveness of the purchase.
Talking about cars, it is the right balance of quality, features, performance, and comfort you get with the price and long-term ownership costs you can afford. Based on these parameters, noble automotive magazines around the world give out automotive awards each year to the vehicles which offers the best value.
No matter what car you are going to buy, be it a sedan, hatchback, MPV, SUV, or even a commercial pickup, one of the deciding factors will be which model offers the best value for money. Considering its price for how much you should be paying for (registration, insurance etc), as well as running costs over the years including maintenance, fuel efficiency, taxes and off course resale.
In our country people have different comprehension of VFM. Some believe it’s the maximum number of safety or convenience features offered with a car against the amount of money paid. These are the people who, when given a chance to buy may opt for used JDMs over brand new locally assembled cars because of the fact that JDMs are way better equipped when it comes to safety and features.
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Then there is a large number of people who believe cheaper maintenance itself is the best value for money. These are the people who are ready to ditch modern day tech gizmos and safety equipment over a bare vehicle because the latter is simply easier to maintain and doesn’t eat out of the pocket in a longer run. Hence these set of buyers may also justify a high price tag for cars that offers nothing in return other than mobility and cheaper maintenance.
If we look at other markets around the world, cars that are successful among the mass majority of buyers are those which ticks every parameter including the quality, features, performance, comfort and long-term ownership costs (running & maintenance) etc.
However in Pakistan cars that are popular, mostly offer cheaper maintenance without offering features and equipment, while those which come equipped with features are considered heavy on pocket. Perhaps we have very limited options in our market and are yet to have vehicles that offer us the best Value for Money both in terms of quality and features as well as cheaper running and maintenance.
What is your take on VFM? Which vehicles in our market do u think offers the best Value for Money? Let us know with your comments.