Owning a car in Zimbabwe is a significant milestone, offering convenience and freedom. However, with the rising costs of vehicles and the economy’s challenges, saving for one requires careful planning and discipline. If you’re wondering how to begin, this guide will help you get started on your journey to buying a car.

Row of new cars on lot
1. Set a Clear Goal
Before saving, determine the type of car you want to buy. Are you aiming for a second-hand vehicle, or do you want a brand-new car? Research the price range of your desired vehicle in Zimbabwe, considering additional costs such as:
- Import duties (if buying from abroad).
- Registration and licensing fees.
- Insurance and maintenance expenses.
Once you know the total cost, set a clear savings target.
2. Assess Your Current Financial Situation
Take a close look at your finances. Calculate your:
- Monthly income.
- Fixed expenses (rent, utilities, groceries, etc.).
- Variable expenses (entertainment, dining out, etc.).
Identify areas where you can cut back and redirect that money into your car savings.
3. Open a Dedicated Savings Account
Open a separate account to avoid mixing your car savings with your regular spending. Many banks in Zimbabwe, such as CBZ, FBC, or Steward Bank, offer accounts tailored for specific savings goals. Look for accounts with:
- Competitive interest rates.
- No or low fees.
- Restrictions to encourage discipline (e.g., notice periods for withdrawals).
4. Create a Monthly Budget and Stick to It
Budgeting is essential when saving for a big purchase like a car. Follow the 50/30/20 rule:
- 50% of your income is spent on essentials (rent, food, bills).
- 30% for discretionary spending.
- 20% for savings (or more if you can).
Track your expenses using apps or a simple spreadsheet to ensure you stay on course.
5. Reduce Unnecessary Expenses
Cutting back on non-essential spending can significantly boost your savings. For example:
- Limit eating out: Cook at home instead of dining at restaurants.
- Cancel unused subscriptions: Review memberships like gyms, streaming services, or magazines you no longer use.
- Shop brighter: Look for discounts, buy in bulk, or shop at local markets.

Overspending is not when if you want to by a car in Zimbabwe
Redirect the money saved into your car fund.
6. Explore Additional Income Streams
If your current income isn’t enough to save for a car within your desired timeline, consider finding additional sources of revenue. Ideas include:
- Starting a small side hustle (e.g., selling airtime, clothing, or groceries).
- Offering services like tutoring, freelance writing, or graphic design.
- Renting out a room or property if you have extra space.
7. Avoid Unnecessary Debt
While loans can be tempting, they often come with high interest rates that can derail your savings goals. Focus on saving rather than relying on borrowing. If you must take out a loan, compare rates from different institutions in Zimbabwe and opt for the most favourable terms.
8. Take Advantage of Investment Opportunities
Consider growing your savings through investments. For example:
- Money Market Accounts: Offered by institutions like Old Mutual Zimbabwe, they provide better returns than traditional savings accounts.
- Unit Trusts: These are pooled investments managed by professionals that can grow your savings over time.
- Forex Savings: Save in stable currencies like USD to protect your money from inflation.
Ensure you research and consult a financial advisor before investing.
9. Monitor Your Progress
Review your savings regularly to ensure you’re on track. Break your goal into smaller milestones (e.g., saving $500 every two months) and celebrate each achievement. Adjust your budget or savings plan to stay aligned with your target.
10. Stay Motivated
Saving for a car can take time, but staying motivated is key. Visualize yourself driving your new car or think about how it will make your life easier. Surround yourself with supportive friends or family who are encouraging you to achieve your goal.
Final Thoughts
Buying a car in Zimbabwe is achievable if you approach it with discipline and determination. By setting a clear target, budgeting wisely, and exploring ways to grow your savings, you’ll soon be on your way to owning your dream car.
Start today—open a savings account, cut unnecessary expenses, and take your first step toward financial independence and mobility!
If you found this guide helpful, share it with someone looking to buy a car. Every step counts!
