Crazy new car "specials"

[USZA]

Ok I phoned and vaguely understand :

You need to finance inhouse and the standard installment is around R6,000.00pm on the base car - depending on your rating and interest rate etc. The contract is a standard contract and month 1 starts when you buy the car like normal.

The difference come in that they deposit a lumpsome (R40,000) in your account at the same time which mean you get 6-8 months 'free' installment sfrom that money.

I think.

But where does the lump sum come from? And is it going to be added to the finance, because it certainly wouldn't have come out of the buyer's pocket?

 

[Saba'a]

Instead of discount or freebies they use money for lumpsum I assume.

 

[Dolby]

Yea I'd also guess that it is instead of freebies and discount. And I'd guess it is added to the finance of the customer.

So if car is 350k, you could probably get it at 320k with discounts and haggling. They don't do this with the special but finance the full 350k and just deposit back into your account

 

[Fazda]

Most of these "specials" involve you buying the car at full price, whilst the bank gets the discount and passes some of that to the client via reduced rate or installments.