Renowned activist Boniface Mwangi has given a story about his worst financial purchase, joining many Kenyans who have contributed to the topic on Twitter.
He disclosed that while he was still in his 20s, Mwangi was already earning Ksh 100,000 per month.
At the time, he owned a modelling agency and was a major shareholder in a PR company.
He was convinced that owning a Mercedes Benz would elevate his status and so he bought one at Ksh2.2 million.
However, the activist forgot to have the car checked by a professional which ended up costing him an extra Ksh 500,000 in repairs.
“I was young and foolish. I look back into my 20's and l regret how I spent my money,” he admitted.
He later disposed of the vehicle to musician Juliani who bought it for Ksh 1.2 million.
The vehicle served the Utawala-based rapper for three years before he sold it off to another owner for Ksh1 million and invested in his ideas.
A number of Kenyans love expensive cars because of the comfort, luxury and social status that come along with them.
Some luxury cars are too expensive for many potential car owners to buy at showrooms, thus a lot of Kenyans opt to buy used ones instead.
Before settling on a used car, it is important to inspect it carefully and conduct due diligence to ensure the vehicle doesn’t have legal problems such as unpaid court fines, theft or accident reports.
Buyers are also advised to ensure it is well checked by a trusted mechanic who will be able to give a better indication of the car’s value as well as spot any major mechanical problems.
