Decent Car for R4000pm

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bsntombela

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Hi all,

Looking for a decent car. Not more than R4000pm incl. insurance.

I'm 25 years old, not married and no children so I was looking at getting a nice hatchback. Currently driving a 2008 Ford Fiesta 1.4 and was looking at getting a decent 2nd hand Ford Focus ST.

I'm quite a stingy person, so R4k is quite a lot I reckon.

What do you guys think?
 
I have always liked ST's, but they are due to be replaced end of year so I would think twice about buying one.
Also, a second hand one is always a lucky packet kind of thing. I know dealers are having specials with 35k cash back at the moment (selected dealers like one on beyers and midrand)

Rather get something a fair whack cheaper (overall cost) and take it over less months.
 
Get a 2010 Mitsubishi Lancer 2.0 GLS. You can pick one up for about R165k with leather trim. Awesome car. Then again I've just gotten one and I'm loving it.
 
I think someone in the market for an ST won't be satisfied with an i20. ST's are great cars and I am sure you can find one in your price range, but as usual, be diligent and make sure the car has really been looked after and not driven to the ground like many of them have been.
 
All, thank you very much for the comments thus far.

@droplet, I have saved a bit. Looking to put down a good deposit.

@boramk, no difference between my Fiesta and an i20.

@BobsLawnService, not a fan unfortunately.

I think mcryan and tau1z are on to something there. Don't want to feel like I wasted my money when the 2012 model drops next year, I've been looking at the pix. Don't I'll be able to afford the 2012 ST though.

I'll just have to do some shopping around. Hope to find something below 30 000kms
 
R4k pm really won't be getting you very far, I'm afraid. The insurance alone on a ST will eat up about half your budget. As said above, rather save up and buy cash. You'll end up with way more car than if you were to go into debt to buy. Also, keep an eye out for any residuals that companies may require. I recently saw an ad for a Merc C-class or something similar, which had a residual of about 40% of the car's total cost, but it had a really low monthly payment designed to draw in suckers.
 
if you have a deposit and can get some trade on your car, get a polo gti
 
Messugga said:
R4k pm really won't be getting you very far, I'm afraid. The insurance alone on a ST will eat up about half your budget. As said above, rather save up and buy cash. You'll end up with way more car than if you were to go into debt to buy. Also, keep an eye out for any residuals that companies may require. I recently saw an ad for a Merc C-class or something similar, which had a residual of about 40% of the car's total cost, but it had a really low monthly payment designed to draw in suckers.
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If he wants to include insurance on the 4k....then I agree with you, he aint gonna get much
 
cbrunsdonza said:
Ask yourself if you really have to buy another car? If not then rather push that R4K pm into a savings account and buy in the new year.
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I'm in a similar situation, want to get a car but can only afford around R4000 pm however I think I'd rather wait and save.
 
For R4000p.m you can get a car worth R150 000 which will be R3200p.m for 5 years at 10% interest rate, the other R800 is for insurance. I personally wouldn't go for a ST because your insurance premiums will be high, the resale value is not good, for this price the vehicle will definately have more than 30 000km's on the clock and besides that a fast car like that would be driven fast by the first owner. I love german cars because they are reliable, solid and keep value, I would only buy a BMW, Mercedes or Audi, but that's my opinion. That actually got me thinking that a friend of mine is selling a 2008 BMW which is under motorplan and I think he wanted R180 000 - R190 000, I'd buy something like that because it's still a new car, no maintenance costs, good value for money. I wouldn't buy a brand new car because it loses value the moment you take it out of the dealership.
 
Like some others have said, why buy a new car? If you stick with your old car, live humbly and save/invest the R4000, you'll have well over a million bucks by the age of 40. Something your future wife and kids would appreciate.
 
Faetsa said:
For R4000p.m you can get a car worth R150 000 which will be R3200p.m for 5 years at 10% interest rate, the other R800 is for insurance.
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Yeah, up until the end of the year when it is projected interest rates will go up by a point or two, bumping that 10% to 12% and basically starts kicking his budget's ass. This is why so many people got screwed by the recession. They lived on the border of what they can afford and as soon as interest rates started going up, their little deck of cards came crashing down.
 
I will always stick to this. Buy a Honda. No hassles, no worries. And good looking too :)
 
All,

I don't think I'll be getting a car now...I'll have to save the monies. Thank you for the advise.

Sad that R4k can't get you a lekker ride anymore.
 
bsntombela said:
All,

I don't think I'll be getting a car now...I'll have to save the monies. Thank you for the advise.

Sad that R4k can't get you a lekker ride anymore.
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Wise choice!

But it's not that R4k can't get you a lekker or decent ride, it's about remaining debt free (especially because you already have a vehicle). Once you step onto the rat race, it's nearly impossible to get out. But the sooner you get out and stay out, the better.

You have done well to consult with others before deciding. Must applaud you for that! :)
 
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