Carfin

[tco21]

Thanks for that info Fazda, will keep it in mind - but will they still be charging at Prime +3 during this recession stage? Oh, today the MPC releases the verdict on whether they'll be dropping base points - will this affect payment/ a loan in any significant way?

 

[Fazda]

Thanks for that info Fazda, will keep it in mind - but will they still be charging at Prime +3 during this recession stage? Oh, today the MPC releases the verdict on whether they'll be dropping base points - will this affect payment/ a loan in any significant way?

The fact that there is a recession doesn't seem to worry them at all. Personally, I pay Prime + 0.5%, but I'm a regular customer. The Finance houses will attempt to nail you for whatever they can...if you end up having to have your vehicle reposessed 6 months down the line, doesn't faze them at all, provided they have enough points to win the next holiday to Greece. The more points above prime, the more points towards the holiday...screw the poor bugger who is buying the car!!

 

[tco21]

Ok, but if I tell them that I got a better deal from another financial institution, do you think they'll go tell me to get stuffed?

 

[Fazda]

Ok, but if I tell them that I got a better deal from another financial institution, do you think they'll go tell me to get stuffed?

Absolutely not. They are too hungry for business to do that. I would simply say that someone you know gets Prime +0.5%, and can they match it. If they were about to offer you Prime +5 they might rethink things.

RULE #1 with Finance Houses, ALWAYS hassle them over their charges...they have PLENTY of room to negotiate. I have had plenty of drinks with the various reps and they ALWAYS have a chuckle at how they were able to rip X Y or Z off!!

 

[tco21]

Shot a lot mate

 

[gifs]

When I bought my car last year, the first quotes I got from the banks were for prime +4%. Ending up gettting prime + 0% from Private to Private (Wesbank) after a bit of haggling with the agent.