Financing an 11 year old Audi

M

M3mPh1z

Well-Known Member
Joined
Apr 26, 2008
Messages
469
Reaction score
11
Location
CPT
Hi Guys

I have tried contacting Westbank to finance an 11 year old (2002) Audi A4 but they cap at 10 years old.

Who would be willing to finance a car that old? Personal loan interest rate would be too high I imagine.

Thanks
 
Personal loan is the only option I know of
 
Eish, looks like I will be giving this one a miss then.

Thanks
 
Banks do not like financing at that age...

Will you need 5 years to pay? Will you still have a roadworthy vehicle at that time?
 
Sometimes interest rates on your Credit Card is lower than on a personal loan. Repayments is also sometimes lower. And you don't have to apply for additional credit.

I know it sounds shaky, but in certain circumstances is an useful option.
 
The car is 78k

It is a top spec with about 60k worth of extras hence me wanting to make a terrible "investment".

The car has already been sold though, so no more worries about financing.

Thanks for the tips though.
 
Badprop_za said:
Sometimes interest rates on your Credit Card is lower than on a personal loan. Repayments is also sometimes lower. And you don't have to apply for additional credit.

I know it sounds shaky, but in certain circumstances is an useful option.
Click to expand...

Look at an overdraft option as well. I took out an overdraft to buy a car, interest rate 10%. That's not too bad.
 
Sinbad said:
Look at an overdraft option as well. I took out an overdraft to buy a car, interest rate 10%. That's not too bad.
Click to expand...

Friend of mine also bought a caravan on his credit card. When he had surplus funds, he paid on his credit card. If the month was tough, he could use funds from credit card. Luckily the last part was not necessary.
 
M3mPh1z said:
The car is 78k

It is a top spec with about 60k worth of extras hence me wanting to make a terrible "investment".

The car has already been sold though, so no more worries about financing.

Thanks for the tips though.
Click to expand...

Thank god you didn't buy that. That's almost double what that vehicle is actually worth.
 
At that age you should only buy it cash if you have the cash.

If you're at the edge of your financial means then the payments a going to hurt when you need to fix something.

It's the same old thing: only buy it if you can actually afford it.
 
SlinkyMike said:
At that age you should only buy it cash if you have the cash.

If you're at the edge of your financial means then the payments a going to hurt when you need to fix something.

It's the same old thing: only buy it if you can actually afford it.
Click to expand...

I agree, even though it might have extras and all that, the insurance would probably not covered you for that amount (78k). Personally, if you can't afford a 40/50k car cash, don't buy it. Save up until you can.
 
Last edited:
All options I looked at the interest rate would be too high, car is well within financial means, now busy shopping for a 2007+ A4 instead (Which is going to cost about double and have half the features :/ ).

Resale value is not important for me as I tend to drive a car until its on its last legs (current A4 is nearing 300 000KM)
 
M3mPh1z said:
All options I looked at the interest rate would be too high, car is well within financial means, now busy shopping for a 2007+ A4 instead (Which is going to cost about double and have half the features :/ ).

Resale value is not important for me as I tend to drive a car until its on its last legs (current A4 is nearing 300 000KM)
Click to expand...

Do you mean it would cost double (R78k x 2) if you were to add the features?

Because my 2007 B7 beaut with 100k km was R115k from a dealer with new parts, you can get them for R90 - R100k private, even R105k from a dealer without the new things I got. So that's only around R25k more than the mentioned B6.

I know you followed my thread, but here it is again - http://mybroadband.co.za/vb/showthread.php/550775-R100-000-budget-thoughts-on-Audi-A4-2-0L-B7.

Loving her more and more each day!
 
I am looking at a DTM which go for roughly R160 000.

The things I would be adding would come close to 30k (All of which was already on the B6 and it has been meticulously looked after)

The standard 2.0 B7 feels exactly the same as my 1.8 B5, which is why if I upgrade it would have to be feature rich for me to actually feel like I'm getting value for my money. I have test driven the entire range and really want a BWA 2.0T and the DTM seems to be the best option
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X