car finance

  1. SkillBeatsAll

    [Advice Needed] Refinance with same bank?

    Hello :) I'm 20 and a self-employed student. Bought a vehicle in Jan, and although I had a good credit score (690 on Clearscore), got an interest rate of prime + 3.5% (Wesbank) - I presume due to it being my first time buying & self-employed status. I was wondering if there was any merit in...
  3. R

    Vehicle finance - dealer vs directly with bank?

    This is my first time buying a car on finance. I got a pre-approval letter from my bank, and my banker advised me not to arrange finance through the dealers because once they make the application, my banker is unable to get a better rate for me. When I went to a dealership to look at cars and...
  4. Z

    2007 vs 2017 Toyota corolla: Help me choose

    Hey guys, I am 27 years old, i am looking at buying a toyota corolla because i heard they last longer. So i am stuck between two options (I have saved up 80k): 1. 2007 corolla 1.6i with 120k mileage for 80k (I will pay cash. buy only third party insurance which should cost around R200p/m). 2...
  5. EnderZaMan

    First car financing/employment question

    Hey guys, I had a question. I'll be financing a car within the next 2-3 months, just building up a large deposit. I work as an Independent Contractor for an American company. I have a signed contract which gets renewed every year. I believe I will have to finance in person so I can explain...
  6. J

    www.nofinancecars.co.za-How good are they?

    Hi Guys, Has anyone ever gotten a vehicle through these guys? is it really RENT TO OWN?!? do they have balloon payments? whats the catch?
  7. T

    Navigating car finance and avoiding dealer tactics?

    Having been taken for a ride when financing my current car a couple of years ago (dealer arranged the finance for me), I'm determined not to get taken for a ride this time around as I'm contemplating my next car (different dealership). Problem is, there's so little information out there on the...
  8. Z

    Vehicle Finance / Reposession Advice Needed

    Hi, I'm looking for advice on a challenging situation regarding vehicle finance/debt. I took out a vehicle loan from FNB/WesBank in 2016 and have recently had financial difficulties which has led to payment arrears, and the bank has now got the vehicle with an agent. If they hypothetically...
  9. O

    How do banks calculate individual interest rate?

    Hi. I hear interest is dependent on individual profile. How exactly do banks calculate interest rate for car finance or any other loan? What exactly are they adding and adding and more adding to arrive at individual interest rate? Please advice.
  10. O

    What are the documents to receive when buying used car?

    Hi, I will be buying a used car from a dealer or private seller very soon. I am in the final stages negotiating the final price with both. I need information on which documents I must receive from either seller to confirm the car is mine? I want to avoid buying a stolen car I want...
  11. P

    First time car buyer. Vehicle finance

    Hi all. So I enquired about a car I'm interested in (after seeing it online) over the phone, and agreed with the salesman that I'd view it this coming Saturday. However he insisted that I fill out a vehicle finance application in the mean time to see if I'll qualify for it. Is this...
  12. P

    Car Repayments, Finance 101 vs Weird thinking

    Hey guys, I just wondered. I've got a 5 year lease on my car, about halfway now and have some extra cash to put towards the car at the end of the month. Should I.... Put it directly towards the financing, ie: Pay financing more than I have to - OR - Put the money in an account and...
  13. T

    Low Credit Score issues

    Hi Everyone I am battling securing finance for a car, which I really need for a new job. Been employed for 8 months now with my current employer...take home R19800, with about R7000 going towards monthly expenses. Give or take, I almost always have R10k left every month. I opened a Mr Price...
  14. P

    Car finance

    Hi Just trying to gauge if I can get a better deal. Both Investec and Wesbank have quoted me an interest rate of prime (i.e. 8.5%) on a motor vehicle purchase of R 90000 for 48 months with no deposit. Is that good for the current market or would I be able to get lower, as a friend of...
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