Car value calculator

Carbon_Fibre said:
The last 2 cars I financed through BMW Finance (with 50% deposit) at prime less 1. The finance started in 2004 and ended in 2008.

For my next car, I've got pre-approved finance with Standard over the net but they did not specify the interest rate. They'd better not pull any **** like that with me.
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BMW Finance will always give you that sort of deal because it's tied into the whole BM network.

Try buying a car from some crowd without its own financial setup and asking Stannic or Wesbank if they will go Prime -1......
 
Fazda said:
BMW Finance will always give you that sort of deal because it's tied into the whole BM network.

Try buying a car from some crowd without its own financial setup and asking Stannic or Wesbank if they will go Prime -1......
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I bought both BMW's privately. Other banks were offering the same. From what I understand if you buy BMW Approved you can get prime less 5 or better.
 
Remember that these 'magical' prime -5 type deals work on a subsidised basis. The dealer will contribute a sizeable chunk of money to the bank, which in turn 'buys' your low interest rate. You'll get substantially less off the sticker price on a prime less 5 deal than you would for cash.
 
enigma243 said:
Remember that these 'magical' prime -5 type deals work on a subsidised basis. The dealer will contribute a sizeable chunk of money to the bank, which in turn 'buys' your low interest rate. You'll get substantially less off the sticker price on a prime less 5 deal than you would for cash.
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Thanks for adding that, I was about to say something similar. There is no such thing as a freebie when it comes to buying cars, and that includes what you think you "score" in a low interest rate purchase!
 
Prime + 4?

Are you smoking crack....

Wesbank wanted to give me Prime + 2 and I told them to go take a flying leap off the nearest cliff, and the Audi dealership to get fscked since they reckoned that was the best I could do...

Laughed all the way to the bank and at them the next day when MFC gave me prime and I got a newer Merc for less money from the Merc dealership next door
 
Oh and btw, that Used Car prices site is so horribly wrong its just stupid.

I have a better link at work.. I'll try remember to post it here tomorrow.
 
I think all that site is doing is collecting prices from sites like autorader etc and averaging them.
 
Fazda said:
Thanks for adding that, I was about to say something similar. There is no such thing as a freebie when it comes to buying cars, and that includes what you think you "score" in a low interest rate purchase!
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+1. You probably end up paying more in the long term.
 
ToxicBunny said:
Prime + 4?

Are you smoking crack....

Wesbank wanted to give me Prime + 2 and I told them to go take a flying leap off the nearest cliff, and the Audi dealership to get fscked since they reckoned that was the best I could do...

Laughed all the way to the bank and at them the next day when MFC gave me prime and I got a newer Merc for less money from the Merc dealership next door
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No I am not smoking crack!

P+4 is the number that Wesbank and Stannic reps are told to try and get, particularly if it is a first time buyer...they win overseas holidays on these numbers, so they feel no pain when they nail the unsuspecting customer with P+4 or more!!

Don't make the mistake of thinking that "everyone" is a savvy buyer when it comes to financing, just because you personally wouldn't accept the deal.

I sold cars in Cape Town for a while, and the coloured buyers in particular got nailed on their finances - call it racist if you want, the banks simply call it looking after their finances!

Do I agree with it? OF COURSE NOT!!

All deals should be at Prime or better as far as I am concerned........
 
Ok, fair enough.... :) You aren't smoking crack then, Wesbank and Stannic et all it seems are tho :p

And yeah, I know the Banks try their luck every single time.... Its a pity really... like everything, this country is too worried with profit.

As far as I'm concerned profit will come if you provide a decent product at a decent price.
 
Wesbank and Stannic will continue to screw the buyer as long as they have people wanting to buy on credit.

If we are to look at the non white market, for example, you are dealing with people who have bought everything on crazy credit from furniture stores all their lives. If they find that they are "only" paying P+4 they bring the consultant a box of chocolates!!

Most of these guys know that they can afford X amount per month, and if the consultant comes in on that number, they think that they have a good deal.

Many of my sales started with that question..."What can you afford to pay per month?"...once you have established that R2500/month for example is acceptable, the salesman who couldn't give a damn will find a car to fit that price, ignoring the fact that the deal could have been done for R1800/month!!

There is a VERY close connection between the sales people and the financial rep sitting on the floor, and the customer is usually the one who pays for that friendship!
 
Yeah i know.. and its shocking...

One of the reasons I now do my own finance deals through my private banker, or one or two of my friends who happen to work for the financial houses...

The Merc salesman initially tried to get me to deal with "their" finance house, and quickly changed his tune when I told him that it was my finance deal or NO sale at all, unless his finance house can come in at prime (which they couldn't, or wouldn't)..
 
Freshy-ZN said:
I think all that site is doing is collecting prices from sites like autorader etc and averaging them.
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100% - if you wish to sell your car privately this is the current average pricing as per autotrader and so on.
 
No friggen way ...

It lists my car's value as pretty much exactly the same as I bought it for 2 years ago...AWESOME!
 
That site is not book value, but rather retail. There is a huge difference between those two values
 
We've built a tool that you can use to check your trade and retail values of passenger and light commercial vehicles online.

https://www.wheelindex.co.za/car-valuation-tool

Requires 'Sign Up' and the 'VIN' number of the car. The retail and trades values are then emailed to you along with past 5 sales in SA for the model.

The data is very accurate.
 
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