A stupid Question

[TheHiveMind]

I'm looking for some inspiration,

I really want a new car by July,

Total Cash needed: 45k
Amount I am likely to save: 20k

How am I going to make the 25k excess

I'm pretty sure its impossible but I am hoping some bored person will come up with a bright idea.

New cars are bad investments. They are REALLY bad investments if you can't even afford them.
If you really want the car, I would guess waiting a little longer would be the most cost effective option.

 

[lived666]

what car can you get for R45K?

I also want a new car but need R160K (I want the new Ford Fiesta Sedan) so lets meet at Monte, I've watched 2 episodes of WSOP, I think I've nailed this poker thingy.

 

[DrewChan]

Well when I said new car I dodn't mean "New" car I meant getting rid of my car and getting a new one (aka nissan 200sx 1.8L turbo 1992 model) hence finance is not an option

 

[Dolby]

Nope no loans, just got out of debt

For interest sake what are my loan options, if I can find something in the range of 15,5% I would consider it. Personal Loans have an interest rate of 27 - 32%

hehe

How about selling stuff you don't need?

About around 6 - 8 months ago I sold some things hadn't used for years and got R12,000.00.

 

[DrewChan]

Don't have enough stuff :'( I guess im stuch with the Corsa Lite for at least a year, unless I get a big windfall

 

[SoulTax]

Don't have enough stuff :'( I guess im stuch with the Corsa Lite for at least a year, unless I get a big windfall

A car gets you from A to B. If you have one already, dont rush to get hold of a new one. If you can manage it and come up with a way to get more cash then that is awesome. But if you cant, just keep saving. You at least have the right idea; Paying cash. Far too many people spend 20 - 40% of their monthly incomes on getting a nice car on loan. Then wonder why they struggle to make ends meat.

 

[guest2013-1]

You have an end goal of R45k for a new car
You have a starting point of R20k
You want to buy a new car by July.

Realistically looking at it you realize you won't be able to save that much by then to be able to afford the car. Forget about the loan (borrowing money to buy a car; you might as well just blow the R20k you have now on cocaine and hookers).

The only thing you have control of here is (as pointed out) getting a night/weekend job waitering OR extending your goal deadline to something more manageable. Working like a slave will really not be worth it if it costs you your soul/happiness overall. But extending your deadline is an easy change to make since YOU are the one deciding it. Not someone else.

Buy the car cash. You'd have to pay insurance and petrol and that **** ain't cheap. You don't want to have a loan weighing you down as well.

 

[MiY4Gi]

Take the money you can raise, then use that money to make more money. There are plenty of ways to do that.