Buying a first car.

Splinter said:
Do you know this based on insurers assessments? And you not having any credit rating before is most probably the worst thing counting against you. Why do you not have any credit rating at age 24?
Click to expand...

I guess i just dont like credit, the closest to credit ive went is a cellphone contract. I guess i need to start building my rating because not having it is affecting me.
 
Splinter said:
Do you know this based on insurers assessments? And you not having any credit rating before is most probably the worst thing counting against you. Why do you not have any credit rating at age 24?
Click to expand...

Credit rating affects premiums? Are you sure about this?
 
airborne said:
You didn't know that??
Click to expand...

My brokers have never told me anything about credit rating when I've asked for the factors which affect premium price, so it comes as a bit of a surprise to me.

I can think of some reasons why CR would potentially affect premiums, but surely it's as simple as no pay = no insurance?

As soon as someone doesn't pay, they are not insured, so I fail to see the risk for insurers in regards to this. Compared with someone who has gone to a store and bought goods on credit, who, even if they don't pay their instalments, still has the goods.
 
ChocolateBadger said:
Actually I'm on board here. I didn't know that your credit score counted against your insurance premium. I know that age and the type of car did. Sure you not thinking of vehicle finance?
Click to expand...

Age, previous incidents, type of car (capacity, turbo, theft risk), etc.
 
PostmanPot said:
My brokers have never told me anything about credit rating when I've asked for the factors which affect premium price, so it comes as a bit of a surprise to me.

I can think of some reasons why CR would potentially affect premiums, but surely it's as simple as no pay = no insurance?

As soon as someone doesn't pay, they are not insured, so I fail to see the risk for insurers in regards to this. Compared with someone who has gone to a store and bought goods on credit, who, even if they don't pay their instalments, still has the goods.
Click to expand...

Same, my broker knows I'm a student but never mentioned anything about having a credit history.
 
DA-LION-619 said:
Same, my broker knows I'm a student but never mentioned anything about having a credit history.
Click to expand...

Let's wait to hear from Splinter and airborne.

Splinter said:
Do you know this based on insurers assessments? And you not having any credit rating before is most probably the worst thing counting against you. Why do you not have any credit rating at age 24?
Click to expand...

airborne said:
You didn't know that??
Click to expand...

airborne is online (can't see with Splinter) so perhaps he/she will be first to respond.
 
Insurance and the underwriting thereof is about risk management, your credit rating is a definite part of your risk profile. Depending on the insurer/their underwriters they will use the info contained in your credit rating to a lesser or greater degree to load your premiums.

Being on the young side of life and with no credit rating equals unknown entity that statistics show can potentially behave in radically stupid fashion.
 
ttsivhabu said:
Hi guys, I need advice. I am looking to buy a used car as my first car. Ive been looking at a 2014 polo 1.4 comfortline with 30000km on the clock, car still has warranty and service plan with vw. The car is selling for R155900. Do you guys think its a good buy? I should go ahead and buy the car or u think otherwise? I need your advice.
I am looking for a car the will be cheap to maintain and not too expensive to rum. Looking to keep the car for years to come..
Please advise me on the pros and cons of the car.

Thank you
Click to expand...

IMG_20151230_031538_2997.jpg
IMG_20151230_031636_6154.jpg
 
milo69 said:
<snip>
<br>
<snip>
Click to expand...

Wait, weren't you posting under another nick a few months back? And you asked to be removed from the forum after an employment related thread?

Only one forumite has ever posted lots of Fords by screenshotting Auto Trader from an Android device... :D
 
PostmanPot said:
Wait, weren't you posting under another nick a few months back? And you asked to be removed from the forum after an employment related thread?

Only one forumite has ever posted lots of Fords by screenshotting Auto Trader from an Android device... :D
Click to expand...

Lol that dude with tons of screenshots from his Android Tab? Usually with very low battery life :p
 
PostmanPot said:
2007/2008 Audi A3 8P or Audi A4 B7. The VW equivalents are the Golf/Jetta 5. But for R150,000 you are in Audi A4 B8 or Audi A3 8P facelift territory. Or possibly Golf/Jetta 6.
Click to expand...
An A4 as a first car? This will not end well...

To the OP - the 1.4 Polo is a solid car. Make an appointment at a dealership and take the 1.4 and 1.6 for a proper test drive. If you are happy with the performance of the 1.4 and it's only going to be you in the car, take it (although you do get a lot of extras when you go for a 1.6 Comfortline).
 
PostmanPot said:
Please expand?
Click to expand...
You want your first car to be relatively cheap to maintain, run and insure. The OP is 24 and being hit with a R1100 premium, now imagine how much they'll charge him if he buys an A4. If something breaks it is going to be much more expensive than the Polo, especially if he picks a turbocharged model. Depending on the route he has to take to work, the Audi will also not be as fuel efficient as the Polo.
 
dj_jyno said:
You want your first car to be relatively cheap to maintain, run and insure. The OP is 24 and being hit with a R1100 premium, now imagine how much they'll charge him if he buys an A4. If something breaks it is going to be much more expensive than the Polo, especially if he picks a turbocharged model. Depending on the route he has to take to work, the Audi will also not be as fuel efficient as the Polo.
Click to expand...

Stop making sense :mad:
 
dj_jyno said:
You want your first car to be relatively cheap to maintain, run and insure. The OP is 24 and being hit with a R1100 premium, now imagine how much they'll charge him if he buys an A4. If something breaks it is going to be much more expensive than the Polo, especially if he picks a turbocharged model. Depending on the route he has to take to work, the Audi will also not be as fuel efficient as the Polo.
Click to expand...

Before I respond, how much are we looking at if a turbocharger breaks?
 
PostmanPot said:
Before I respond, how much are we looking at if a turbocharger breaks?
Click to expand...
Off the top of my head, for a 9N TDI Sportline, about R4500 for the turbo alone. Then the boost pipes and intercooler need to be cleaned as well.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X