First car - Advice on finance

[BaTouSai]

Hi

I got my license yesterday.

Now it is finally time to get myself a car.

Does anyone have an idea what the requirements are if you are looking to get finance for about R60 000-R80 000?

What is the best route to take regarding finance?

 

[D3x]

MFC has given me the best interest rate both times I have bought cars in the past 4 years. They were taken over by Nedbank a few months back.

www.mfc.co.za

Get quotes from everyone else & then send the cheapest one to MFC, they will beat it.

 

[danlr]

Hi,

Do you have a deposit? Sometimes the best offer is the actual car company's own finance deals. I know its out of your budget but as an example BMW/Audi/Merc sometimes has deals at prime - 5%.

Lastly, what is important, more than total you want to spend, is how much disposable income you have left at the end of the month to pay towards a car.

PM if you need more detailed assistance.

 

[touch_stone]

Don't take balloon payments under any circumstances. This is a very dangerous move

 

[Dolby]

Don't take balloon payments under any circumstances. This is a very dangerous move

I've yet to come across someone where a residual ended in the horror stories I always read - and it certainly hasn't happened to me