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Question of the Day: How do you normally pay for purchases in stores?
Toyota Yaris T3+ - advice
- Thread starter Nicci
- Start date
supersunbird
Honorary Master
So its for almost 3 and a half years? No deposit? How much does the car go for on the open market? Sounds like a OK deal...
My Bantam was R90 000 and I pay just above R2300 a month for it over 5 years...
My Bantam was R90 000 and I pay just above R2300 a month for it over 5 years...
Hello! Yes, its almost 3 and 1/2 years. I am considering trading in my car as a deposit. I think the car goes for over R100 000-00 to R140 000-00 on the market.
Also, its black, not sure it thats a good thing...
Fazda
Honorary Master
I sold my Yaris for R125000 last year with 30 000 on the clock, when I was retrenched. They are brilliant little cars, not so little either, black won't be a problem as the aircon is excellent. The only problem with black is keeping it clean, but then you do end up with the smartest car in the neighbourhood!
As some people who know me might tell you, however, I have never bothered with a residual...i.e. been caught out with a residual value, because I always trade my cars in beffore the RV becomes a problem..;0)
As some people who know me might tell you, however, I have never bothered with a residual...i.e. been caught out with a residual value, because I always trade my cars in beffore the RV becomes a problem..;0)
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My girlfriend just sold her's - it was a 2007 T3+, 38,000km, sold it for R93,000 straight back to the dealership.
Get it checked out by AA or something, but my guess is its a good buy - its difficult to go wrong with a Toyota.
Get it checked out by AA or something, but my guess is its a good buy - its difficult to go wrong with a Toyota.
Fazda
Honorary Master
Pyro
Expert Member
Get the price itself, not the monthlies.
R2500x42 is R105k, which sounds quite good, but I wonder if there's any other costs that's not being mentioned.
Fazda
Honorary Master
Yes, whenever they advertise something at "only" R x/ month you can be sure that they are going to have something hidden up their sleeve in the form of a residual. That mileage, it should still be under the Toyota Service schedule, so hopefully services won't cost anything...
Fazda
Honorary Master
Good one on the servicing because that is bloody expensive.
A Residual value is a way of reducing repayments on a car. It is based on a percentage of the car's price, and is paid as a balloon payment at the end of the HP period. For example a 20% residual on a R100 000 car would be R20 000. You would only be paying off R 80 000 on the car with respect to your monthly payments, and then in order to balance things with the banks your final instalment would be the full 20% or R 20 000.
You can buy a new Polo. for example at R 1680/month, but your final instalment is something like R70 000. Most people don't have that sort of cash, so you end up either having to trade the car in and hopefully getting some money out, otherwise you can take out yet another HP payment on the RV and pay that off....in other words you end up with a car that had a list price of R150 000 costing you closer to R250 000 in the end...
A Residual value is a way of reducing repayments on a car. It is based on a percentage of the car's price, and is paid as a balloon payment at the end of the HP period. For example a 20% residual on a R100 000 car would be R20 000. You would only be paying off R 80 000 on the car with respect to your monthly payments, and then in order to balance things with the banks your final instalment would be the full 20% or R 20 000.
You can buy a new Polo. for example at R 1680/month, but your final instalment is something like R70 000. Most people don't have that sort of cash, so you end up either having to trade the car in and hopefully getting some money out, otherwise you can take out yet another HP payment on the RV and pay that off....in other words you end up with a car that had a list price of R150 000 costing you closer to R250 000 in the end...
arf9999
MyBroadband Member
What's the full picture? Deposit? Residual? R2500 per month without deposit or residual sounds like a good deal. i.e You'll pay around R105K for the car in total including interest etc.
If there's a residual value, the deal doesn't look so good. 42 months is a strange period tho'... are you just taking over someone else's contract?
Hmm, thank you for this. I didnt know about this and didnt ask. I will ask tomorrow when I go test drive the car. If it does not include the residual thing, I wont buy it.
Yes, I am taking over the car, its a reposed car or something like that. I am trading in my car as deposit, and it works out to 2500 p.m.
Pyro
Expert Member
Like I said - if there's no additional costs above that 2.5/month x 42, then it's a good deal.
Fazda
Honorary Master
NOOOOOOOOO!! That is NOT what I said!!!
Please read what I said about residuals again.
A residual is used to DROP monthly payments, and then give you a balloon payment at the end.
If this car is without a residual @ 2500/month it is a fantastic deal!!
If it DOES have a residual, just find out what the balloon payment is before you shoot yourself in the foot.
Please re-read what I said originally, and if you need a clearer explanation please PM me!
Velenoso
Expert Member
I think as some of the guys said, if there is no residual it's a very fair price for that car. Would solve your car problem, and Toyota is good, especially for a lady. Very reliable...
Oh ok
Thank you! Good thing I came on here now, as Im about to leave he he!Thank you for explaining, I will ask about the residual, and if there is a payment like that. Thank you once again!
Nicci!