Hi Guys, I'm looking for a new car and I noticed both Ford and Mazda (makes sense as they work together and probably have the same finance house in SA) have crazily good finance offers only on two specific models:
The Mazda 2 sedan 1.5 Dynamic, and Ford Fiesta 1.6 Tdci Ambiente (Diesel).
Now these are probably their least desirable models so it might make sense, but still the offers are Ford 0.87% interest and Mazda 0.45%. This is a saving of at least R30 000 or so over most other finance offers, and basically interest free.
Take a look:
Is their any catch to this sort of deal, because it's amazing value compared to the 11-13% interest I'd get from my bank buying second hand, which was my initial choice. I'm young and my first car I got at 13%, which literally costs you R58000 in interest over 60 months, compared to R6000 here.. a crazy saving.
I know there's a large residual, that doesn't bother me, it works to my advantage.
Will the interest rate really stay fixed (linked to prime of course)? Anything else to consider besides how cheap and efficient diesel is at the moment ?