Carfin

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tco21

Cynical Grinch
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Ok, yet another question...

I have a deal with a private buyer, and the banks told me to go get stuffed (basically).

So I searched the net for a 3rd party vehicle financing company and Carfin seems to offer some decent options, but I can't find a registration number on their site saying that they are an authorised financial service provider.

Should I be wary of this?
 
Sorry, if it's under 30k it's highly unlikely you will get any finance company interested. they cannot make enough out of the deal to warrant making one in the first place.

Out of interest what sort of interest Carfin charging? It must be WAY over prime for them to operate on "small" amounts....
 
If no-one knows of any finance companies thta will help, try asking a car dealership who sells those type of cars who does the financing for them. If they won't just tell you, pretend to be interested in a car of similar value and see if they are able to get you finance and with whom.
 
Hey that's quite an idea gifs. But won't it be different because they sell in bulk so the financing companies feel like there's less risk with them - as a registered business?
 
There are a number of dealerships that offer their own financing. Have asked a friend in the trade to find out who is offering finance for cheap cars.
 
if you can get the car to a dealership, they will charge you 14% in most cases of the selling price to get it dealer stocked and facilitate the deal for you
 
adamr said:
if you can get the car to a dealership, they will charge you 14% in most cases of the selling price to get it dealer stocked and facilitate the deal for you
Click to expand...

adamr is right. That would make the deal more than 30k which means you might as well stick with the banks.
 
If you help me get some more customers in JHB I'll give you R 1500 per deal to help push your car purchase through.

Assuming you are in JHB of course.
 
I'm in Pretoria.

The financing is for a bike, not a car. Though I did manage to get through to the guys at Wesbank. They have a personal loan option for leisure items under R30,000 and I seem to meet all their criteria :D

The number for Wesbank is 0861 30 20 20 in case anyone else needs it.
 
tco21 said:
I'm in Pretoria.

The financing is for a bike, not a car. Though I did manage to get through to the guys at Wesbank. They have a personal loan option for leisure items under R30,000 and I seem to meet all their criteria :D

The number for Wesbank is 0861 30 20 20 in case anyone else needs it.
Click to expand...

OK, that makes sense. Alles van die asbestos.:D
 
What interest rate are they charching you?

Remember to ask them for a better rate once they give one to you, even if you have to tell them that another bank offered you a better rate.
 
gifs said:
What interest rate are they charching you?

Remember to ask them for a better rate once they give one to you, even if you have to tell them that another bank offered you a better rate.
Click to expand...

Good point! In sales I have watched people get ripped off on a daily basis because they just accepted the rate that Wesbank or Stannic offered. One customer could afford a Golf at Prime plus 3%, but by the time "The lady from Wesbank" was finished she was totally out of her depth with the addition of an extra 2% PLUS a whole string of optional extras which she was told that she HAD to take, which is utter crap. The ONLY extra one should take is the cover called Top Up which will pay the difference between what you owe and what you have actually paid off, should you Total your car. That is also renewable every year, and should not be continued once you are past the break even stage.

The lady who couldn't afford the Golf, had an extra R950 added to her HP payment in the 2% plus extras!!:mad:

For a first time buyer, Prime +3 is acceptable, everything else is a ripoff!
 
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