A huge financial setback

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semisane1987

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Morning

Back in 2016 I made a huge mistake 2 years later, I'm regretting bought a car Honda Brio. It's been good to me so far last week Friday the engine, tilted took the car to a Honda dealer. They did mention before asked where I bought the car and they told me the car was in accident.

So when I took the car there Monday they told me the car, need a panel beater to look at it. The panel beater estimation for the car to be fixed is R84 000 tjoe.

I don't have R84 000 to fix the car and it's already to late to return the car. So O tried to apply for finance for a new car, I have a loan with Capitec Bank. I pay around R3540 plus credit facility R1400 (I don't use it every month). Then I have Jet account I pay R800. Those are my only debts so the finance lady when, she didn't her stuff she said I wouldn't be approved for a new car.

Because of the Capitec Bank loan maybe I should try for, R60k to R80k maybe I will be approved for that. This car thing came to me as unexpected, I was not planning to make new debts. I wanted to push that Capitec Bank loan as I'm left with 2 years to finish.

I don't know what to do at this point all I know this is a huge financial setback, but on the other hand without a car I'm going to save about R2000 (insurance, service & warranty plan and tracker) plus petrol money I was spending like R1200 to R1500.

My take home after deduction is between R14k to R15k Capitec Bank said, they can give me a separate loan of R120k. I'm thinking maybe take R70 000 buy myself Hyundai i10,pray to God I don't buy other lemon car.

I need all the advice I can get and how should I go about, selling that Honda Brio to the scrap yard. It's undriveble so going from one panel beater to another is not an option.
 
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They did mention the engine mounting can be fixed, not sure but I think it will be around R9000 excluding labour. I can drive the car but I should know THE CAR IS NOT SAFE TO DRIVE I will be putting my life and other road users lives in danger. They mentioned something front cross member I have no idea what is that.

I work three circle shifts at work morning, afternoon and night so having a car is nice.
 
not sure what the problem is with your honda but surely a non-dealer mechanic can fix it for a fraction of the dealer quoted price.
 
i10, Picanto and all those small cars were never designed to last, they are soft cars which are not designed for hard use and an occasional abuse as compared to old fashioned cars. If i were you I would really sit down and think hard before making another car purchase or you would be buying another car within the next three years.

A forumite sold his Hyundai which has done over took kms recently, you would be lucky if you managed even half if that in those small cars you like. I take it you don't have any savings to contribute to the purchase of the car? All the more reason to think very carefully, another debt on top of another is not a good thing, if you have to do it make sure it's value for money.

If i were you i would buy myself a tried and tested car that can cope with all the challenges of life and is cheap to maintain, it might be an old car but they are still far superior in terms of quality. Look at the Getz, Opel Corsa C, Honda Civic, Ford Fiesta, the Toyota Tazz, even the old Mazdas those kind of cars, preferably the ones that had convenience features like aircon and stuff, you can get one for min R45k up to R60k, Get out of your are and hunt for it.

If you are still keen on the i10 you also can look for a decent one but i doubt you will get one for decent money.
 
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semisane1987 said:
They did mention the engine mounting can be fixed, not sure but I think it will be around R9000 excluding labour. I can drive the car but I should know THE CAR IS NOT SAFE TO DRIVE I will be putting my life and other road users lives in danger. They mentioned something front cross member I have no idea what is that.

I work three circle shifts at work morning, afternoon and night so having a car is nice.
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Just get the car fixed at a 3rd party mechanic.
Save to fix the rest of the car.

That capitec loan will be much more expensive than what you are paying now
 
I replaced engine mounts in my amg for R750 each. 9k is absurd
 
Everytime I try to get a clearer picture of the damage I get even more confused, engine mountings aside, what Is making the car unsafe to drive? What is the R84k quote all about?
 
What actually happened? I cannot see how it's going to cost R84k on a car that is only worth that? Were you in an accident?
 
Shop around for quotes.

Recently a family member of mine was driven into and the quotes to fix the damage (via insurance, so quotes are naturally higher) ranged from R8k to R45K. The vehicle is 20 years old and probably only worth about R40k max. It's like some panel shops just don't want to do the work so they quote an absurd amount.
 
Just like in the other thread I must question what happened, the bonkers R84k to "fix" the car etc.

Then also the elephant in the room Ito of incurring more debt.
 
chickenbeef said:
Shop around for quotes.

Recently a family member of mine was driven into and the quotes to fix the damage (via insurance, so quotes are naturally higher) ranged from R8k to R45K. The vehicle is 20 years old and probably only worth about R40k max. It's like some panel shops just don't want to do the work so they quote an absurd amount.
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Or maybe it's because the work's labour cost isn't linked to the price of the vehicle?
 
Honestly OP is trying to convince himself he needs a new car. You genuinely can’t afford it. Fix what you have and move on.
 
Messugga said:
Or maybe it's because the work's labour cost isn't linked to the price of the vehicle?
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It isn't but but said place quoted for replacing every part with new items instead of repairing anything. e.g. The bumper was scratched and needs to be resprayed - they quoted for a new bumper. Labour from them was R8k.
 
We gave you advice in the other thread and now you post a new thread about the same nonsense. And you took the car to a dealer to replace an engine mounting.

I foresee plenty more huge financial mistakes in your future. Good luck
 
Well.. the car drove fine till the "engine tilted" all of a sudden. With a 84k repair bill you should have noticed a lot more wrong with the car beforehand.


Claim from insurance, chances are they will just scrap it and pay you out.. depending on if you have and what type of insurance though
 
Is this the same OP who was in an accident, broke his mirrors, looking for a second hand car?

Something is not right here. Maybe it is not the car that is unsafe but the driver?
 
Lots of item like 30 items from drive shaft I will try to post the quotation here. I'm not the one who damaged the car, the previous owner didn't disclose that the car was in accident.
 
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