Buying my first car

some companies have arrangements with banks to give good finance deals to their employees, see if you can get that. prime+2.5 is a bit high, thats because ure high risk @24
 
Hamster said:
Ja nee - make me want to cry. Insurance is gonna be a bit of a bitch until you are 25 though.
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Buying a car is like buying a printer lately ... you don't look at the printer price, you look at the cost of the ink (insurance).
 
Why don't you get a R50,000 car cash instead of paying interest. A friend once told me that the reason why people pay interest is to impress the people that they don't like, makes sense ?
Calculate how much interest you gonna be paying over the period and see whether its worth it or not.
I'm too scared of interest, in case the Fit hits the SHan, who's gonna bail you out or will you sell your house to settle it ?

I know that I'm not making your exciting purchase a major high but use your own judgement before signing on that dotted line.
 
What car are you getting? I'm 24 and just bought my first car as well... but it cost me R390k less a deposit of R120k. Standard bank offerred me 11.7% interest.
 
MR.C said:
Why don't you get a R50,000 car cash instead of paying interest. A friend once told me that the reason why people pay interest is to impress the people that they don't like, makes sense ?
Calculate how much interest you gonna be paying over the period and see whether its worth it or not.
I'm too scared of interest, in case the Fit hits the SHan, who's gonna bail you out or will you sell your house to settle it ?

I know that I'm not making your exciting purchase a major high but use your own judgement before signing on that dotted line.
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R50000 on a tin can with no safety features. No thanks. Im buying safety, reliability and comfort. Its not only about looks. In terms of being scared, you can always take out a credit protection plan or something that will bail you out should things go bad. Standard Bank offers it at +-R350pm.

I got a 2009 Honda Civic Hatch with 33000km.
 
IzZzy said:
What car are you getting? I'm 24 and just bought my first car as well... but it cost me R390k less a deposit of R120k. Standard bank offerred me 11.7% interest.
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I can tell from your location we are not in the same league .... Holy Crap Batman?!
 
IzZzy said:
What car are you getting? I'm 24 and just bought my first car as well... but it cost me R390k less a deposit of R120k. Standard bank offerred me 11.7% interest.
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Did you say +R390k for a car at 24... Wow! You guys. Enjoy your new wheels...
 
IzZzy said:
What car are you getting? I'm 24 and just bought my first car as well... but it cost me R390k less a deposit of R120k. Standard bank offerred me 11.7% interest.
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Where did you get a R120k deposit from? What car?
 
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