How much money do you earn? And how do you spend it?

[Snyper564]

We still on this car topic? Lol look, here's my take on it... Some people need to compensate for something. That's it!!! .

Let them suffer with the debt but hopefully their dreams is been fulfilled in a different way.

My 10 year old car is still treading along happily.

Totally agree, Im 30, driving my corsa lite (10 years old), all my money goes into the bond and loads of savings (in bond for clarity). I could easily get most high end cars but couldnt care less. In short. I live in my house not my car!

 

[beefymoocow]

Job: analyst
Salary: 45k
Tax:11k
Probable Tax refund in 2019: 11k (Just started working this month)
Pension: 5k
Lump sum saving: 20k
Homeloans for 3 apartments co owned with brother: 10k
Rent income: 8k one apartment still needs to be rented.
Homeloan & levies: 8k
Ebucks income: 10k expecting a 50% decrease.
Medical:1.4k
Insurance: 1.5k
Vitality: .5k
Food: 2k
Other spend 4k

 

[Superman-7]

Software Developer, 32
CTC: 60k
Two-person household

Bond, levies: R 14,000
Two cars (gas, installments, insurance): R 7,700
Groceries: R 5,000
Internet: R 800
Health insurance: R 300
Two cellphones: R 500
Miscellaneous: (Apple music, banking fees, etc.): R 600

--

The rest goes into an RA, tax-free savings accounts, and other savings vehicles. My fiance pays a few other small expenses.

Almost done paying off one car - then the next. Then eating away at that annoying bond.

 

[genetic]

Two cars (gas, installments, insurance): R 7,700

LP gas, diesel or petrol?

 

[TheChamp]

I would be more concerned about the 21% literally being drunk away.

At least the car has benefits.

It's something called YOLO, you'll never understand.

 

[d0b33]

a) A guy phoned in and wanted a specific pre-owned Merc he saw. I got the details and worked out the monthly installments - R4,600.00. I tell him and ask if he's happy to proceed, which he is. First question I ask officially is gross salary ... R8,000! Aside from not being able to continue, I was shocked he WANTED to.

I think some "smart" people might do a dodgy deal for extra income...

1) Finance the most expensive car they can afford on their tiny salary
2) Sell it for cash
3) Settle and give papers to new owner
4)Profit!
5)Repeat

Unless SARS catches up I think there are many people who do this and get away with it?

 

[Messugga]

I think some "smart" people might do a dodgy deal for extra income...

1) Finance the most expensive car they can afford on their tiny salary
2) Sell it for cash
3) Settle and give papers to new owner
4)Profit!
5)Repeat

Unless SARS catches up I think there are many people who do this and get away with it?

What would be the motivation for doing this?

 

[Sinbad]

I think some "smart" people might do a dodgy deal for extra income...

1) Finance the most expensive car they can afford on their tiny salary
2) Sell it for cash
3) Settle and give papers to new owner
4)Profit!
5)Repeat

Unless SARS catches up I think there are many people who do this and get away with it?

You can't sell it. The bank has title until you settle

 

[Slootvreter]

We still on this car topic? Lol look, here's my take on it... Some people need to compensate for something. That's it!!!.

Yawn

 

[SauRoNZA]

It's something called YOLO, you'll never understand.

Thank goodness for that.

 

[SauRoNZA]

I think some "smart" people might do a dodgy deal for extra income...

1) Finance the most expensive car they can afford on their tiny salary
2) Sell it for cash
3) Settle and give papers to new owner
4)Profit!
5)Repeat

Unless SARS catches up I think there are many people who do this and get away with it?

Where is the profit?

Why would someone buy the car for more money from a private sale than just directly from the same source the person taking the loan did?

 

[Hamster]

I think some "smart" people might do a dodgy deal for extra income...

1) Finance the most expensive car they can afford on their tiny salary
2) Sell it for cash
3) Settle and give papers to new owner
4)Profit!
5)Repeat

Unless SARS catches up I think there are many people who do this and get away with it?

This is how people go broke

 

[d0b33]

Where is the profit?

Why would someone buy the car for more money from a private sale than just directly from the same source the person taking the loan did?

Someone that can't get finance like a foreign national? and if you got a good deal you can make a profit while still having a competitive sale price.

I don't know if this is done but I'm always surprised by the dodgy ways people find ways to make an extra income, this being one way I think is possible.

 

[SauRoNZA]

Someone that can't get finance like a foreign national? and if you got a good deal you can make a profit while still having a competitive sale price.

I don't know if this is done but I'm always surprised by the dodgy ways people find ways to make an extra income, this being one way I think is possible.

Well if a foreign national and the cash to pay for it outright in the first place...they wouldn’t be applying for finance.

Also foreign nationals get vehicle finance without a problem. It’s only home loans where that’s a problem.

There are also fees involved with getting vehicle finance so I just don’t see where a profit can be made here.

 

[d0b33]

Well if a foreign national and the cash to pay for it outright in the first place...they wouldn’t be applying for finance.

Also foreign nationals get vehicle finance without a problem. It’s only home loans where that’s a problem.

There are also fees involved with getting vehicle finance so I just don’t see where a profit can be made here.

I guess so... unless you need to finance a really good exclusive deal or just want to generate cash flow? but probably not profitable as I thought.

 

[CamiKaze]

Yawn

You have anything worthwhile to add?

 

[Slootvreter]

You have an ything worthwhile to add?

Is it necessary?

 

[CamiKaze]

Is it necessary?

You seem to have an opinion on something so why not?

 

[f2wohf]

Well if a foreign national and the cash to pay for it outright in the first place...they wouldn’t be applying for finance.

Also foreign nationals get vehicle finance without a problem. It’s only home loans where that’s a problem.

There are also fees involved with getting vehicle finance so I just don’t see where a profit can be made here.

Even car finance was quite a mission for me. Only Wesbank would accept me and after a few years only with a skyrocketing interest rate.

Home loans are even worst.

 

[grim101]

You can't sell it. The bank has title until you settle

You sell, settle with bank.

Send papers to new owner.