Finance vehicle

[Kobusr1]

If I am working for two months and my salary has a short fall of what the expected amount you must earn. Can a family member sign as a backup.

 

[supersunbird]

Wat?

You don't earn enough to qualify to buy a vehicle at a certain price?

Is it a new vehicle? Can you not look at an older vehicle and thus cheaper where you fall into the acceptable finance criteria?

 

[bwana]

If I am working for two months and my salary has a short fall of what the expected amount you must earn. Can a family member sign as a backup.

I think it's called surety and yes, I believe they can but it really puts them in a bind if you default.

 

[Kobusr1]

it is not a new vehicle and a private sale.

 

[Kobusr1]

Thank you

 

[Fazda]

it is not a new vehicle and a private sale.

How can you be financing a private sale?

I know that Wesbank does it, but highly unlikely for a first time buyer.

RULE #1 - If you don't earn enough to pay for a vehicle, keep catching taxis until you can - THIS is why SA has a huge debt problem at the moment.

 

[Colin62]

How can you be financing a private sale?

I know that Wesbank does it, but highly unlikely for a first time buyer.

I've done it through Standard, and I think all of the big 4 allow it these days.

 

[FiestaST]

These averages are a bit concerning imo



http://www.wheels24.co.za/News/sa-new-car-sales-poor-start-to-2016-20160202

Average contract term of 69 months! Ouch

Average value of new vehicle financed over 1/4 of a Mill...to get over 1/4 of a mill means there is a "fair" amount financing much much higher amounts.

 

[Messugga]

These averages are a bit concerning imo

View attachment 338202

http://www.wheels24.co.za/News/sa-new-car-sales-poor-start-to-2016-20160202

Average contract term of 69 months! Ouch

Average value of new vehicle financed over 1/4 of a Mill...to get over 1/4 of a mill means there is a "fair" amount financing much much higher amounts.

A Polo costs you over R200k these days. R250k simply doesn't buy you terribly much anymore. Car prices have gone insane.

 

[pinball wizard]

As far as I know, none of the banks accept surety for vehicle finance anymore.

 

[F1 Fan]

How can you be financing a private sale?

I know that Wesbank does it, but highly unlikely for a first time buyer.

RULE #1 - If you don't earn enough to pay for a vehicle, keep catching taxis until you can - THIS is why SA has a huge debt problem at the moment.

This.