First time car buyer

supersunbird said:
Hey hey, I saw a white 2001 Fiesta for R40 000 at a dealership in Gezina today, didn't see kilometres and such.

So with the financing fees added and at 12% interest it would be around R972.14 per month over 60 months.

Looking with google maps now to see if I can find where it is, wasn't really paying attention, looking for a Ford Figo.
Click to expand...

Can I actually get finance on such an old car??

And thanks , I'll have a look around there :D Planning on doing the old Voortrekker road shopping trip...
 
Maybe the dealership can arrange something, find out. Would need to take out comprehensive insurance on it though, since its financed. Only thing I think will fit your budget to be honest. Believe me, I saw a lot of Gezina cars the past week...
 
If you are on a tight budget getting such an old car might be risky as the chances of having a unexpected repair bill are high. Have you considered the likes of Kia Picanto or Chev Spark. These should be very low risk Cars. I think there an Ad for the KIa at 99o/ month but might require some cash deposits.
 
Ok looking at getting a 2007 model Ford Fiesta.
Any comments?

I will need to get finance.. The Wesbank website says the car can't be older than 10 years but someone told me it can't be older than 10 years at the pay-off date?


I'm so confused :o
 
googoodoll said:
Ok looking at getting a 2007 model Ford Fiesta.
Any comments?

I will need to get finance.. The Wesbank website says the car can't be older than 10 years but someone told me it can't be older than 10 years at the pay-off date?


I'm so confused :o
Click to expand...

Older than 10 years at the pay-off date sounds more realistic because motor manufacturers have to supply parts for 10 years after a model's launch date. So, should your car be older than 10 years before it's paid off, it would either be uneconomical to repair or be written off, should it land in an accident.
 
googoodoll said:
Haha ja I think my budget would be less than half of that...

Isn't a Tazz also popular for theft?

I'm thinking of looking at a Ford Fiesta
Click to expand...

Lucky mine was not stolen yet , but i have alarm , immobilizer and gear lock , seems to do job for now :p
 
if you drive a BMW or a tazz, if the guys want it, it would get stolen

buy a small decent car

an i10 or atos or a picanto for around 50k and you good

payments be less and petrol and insurance as well
 
googoodoll said:
R2k at the most... And thats more than 1/4 of my take home salary...
Click to expand...

I might be mistaken but the banks won't finance you if your repayments will work out more than 1/3 of your salary. BTW - no deposit required anymore, but if helps with the interest.
 
 
Slaught3r said:
No, I have tried financing a vehicle older than 7 years and they said no. So it is 10 years at payoff date.
Click to expand...

The problem with this argument is that this would put a restriction on the payoff period.

ie 'Sure, you can finance this car. But only over 12 months 'cause then it'll be ten years old'.
 
I.am.Sam said:
fords are bad when it comes to maintenance
Click to expand...

Or you saying that from firsthand experience?

I ask because my previous car was a Ford, for which I paid the services myself, and it was no more expensive than any other car in it's class. Current car is also a Ford, granted that I won't be paying for the services anytime soon.

Any car is going to cost you to maintain, but going to cost you more when you neglect to maintain it.
 
riscbroker said:
The problem with this argument is that this would put a restriction on the payoff period.

ie 'Sure, you can finance this car. But only over 12 months 'cause then it'll be ten years old'.
Click to expand...

Ja it probably depends on the car as well. The bank has certain basic criteria and then will use their discretion after that.
 
googoodoll said:
Ok looking at getting a 2007 model Ford Fiesta.
Any comments?

I will need to get finance.. The Wesbank website says the car can't be older than 10 years but someone told me it can't be older than 10 years at the pay-off date?

I'm so confused :o
Click to expand...

Is it white, 1.4l and got 180 000km on the clock? I was interested in that one too lol

EDIT: just got approved for a Ford Figo, so dont worry, wont take yours :p
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X