Keep on driving that car.
Don't buy anything you don't need, with money you don't really have to impress people you don't really like.
Stick to the Tazz, save the money and use for a deposit on a car further down the line. Try stay out of debt as long as possible.
Agreed ... but also consider a Tazz doesn't really have any safety features such as ABS, Airbags, etc ... personally for me, those are the biggest decision makers.
lol........ Truly speaking I knw id get responses like this. I studied financial management ponder. Ja well I guess a year or 2more wont do me any harm. But jus for interest sake how much is a big deposit? cos I have R30000 at my disposal ryt now and my dad is willing to put the insurance under his name
I just got a car, and between cash and my trade in ... my deposit on a R147,000 car was R90,000 in order to make the payments handleable.
:wtf:
Surely you should know that it's a bad idea then?
It depends how you look at it. I am a first year trainee accountant, so my job is secure for at least the next 2 years ... and there shouldn't be an issue thereafter. Thus I am pretty secure in terms of being able to make payments. In addition, I have made sure that my payments together with my insurance does not exceed what I put away in savings every month (essentially, my car payments are my annual increase I just got ... or just under). So together with the payments, I still have enough money left over for a decent saving and enough spending money to play with for the month ... the luxuries of living at home
Thus with this info in mind ... I have taken out a 5 year financing (of course I will always try put more in). This means essentially I am paying R250 a month (if averaged out) on the interest ... or as I like to see it, monthly premium in order to get the car now, vs save up for 5 years to get it.
That is essentially the financial management decision you need to make ... put the same amount away monthly in order to get a car in 5 years with no obligation, or get it now and pay a monthly premium of the interest. The only thing is be damn well sure nothing will happen to jeopardize the payments.
I plan to try have my car paid off within 3 years.
Hi guys im a recent graduate and I have recently signed a employment contract. Starting next month I will be earning R10000 giv or take. As i'm a young guy I cant wait to ditch "my trusty tazz". My question is how long must I work to even get a chance at finance? What "hot hatch" can i get at around R160000 [thinking it'll b 2nd hand so keep service costs in mind]
Firstly ... is it R10k gross, or R10k after all deductions such as Tax and Medical Aid, etc. If it is Gross ... do me a favour and don't get your car, at least not for R160k ... you can, but then you will have no monthly savings
I earn > R15k gross per month, I had a R90k deposit and still I'm squirming that I am paying R147k for a car now ... my initial budget was R130k, but I didn't want to pass up this deal.
Secondly, you must decide what you want for yourself ... not what looks cool ... because cool costs more, both in cost and insurance (your poor dad!).
The car I just got myself is a 2008 Honda Civic 1.8 VXi 4 Door Sedan. It is Honda, so first and foremost it's reliable. It has leather interior so feels awesome to sit in. It has 6 Airbags, so safety is up. It has cruise control and climate control so comfort levels are high. It is only 65k km on the clock, and the service plan is 5 year / 90k km so I still have at least 2 more service plans included in it. The car was in perfect condition ... I think the previous owner levitated inside the thing, because the interior looks new. And the dealership fitted brand new Pirelli Tyres all round. So shop around for a good second hand car with low mileage. Brand new, these are R262k. If you want a hatch ... look at a 2008 Honda Civic 5 Door 1.8 Exi, you can get them about R130k. Just make sure it is low km so you still have some service plan left.
The only reason I didn't go for something smaller, is my current car is a Daihatsu Sirion 1.3i and I wanted something bigger and safer because I drive far sometimes to audit clients and I wanted safety.
If you are happy to go for a smaller hatch, and you want something hot, I test drove a Renauly Twingo Sport 2010 model going for R130k with 22k km on the clock ... really fun to drive ... but not very practical.
I dont think id do the conversion either tooooooo much work and effort!! The maximum mods I do cars r cosmetic and sound.[I'VE REACHED THE PEAK IN THAT DEPARTMENT]. But for interest sake: If i were to get my hands on R160000(dad
) wat would be the best option hot hatch. Low milage(50-70k), average maintenance
