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

[Pyro]

You sell, settle with bank.

Send papers to new owner.

As mentioned, the financing costs involved would make it quite hard to turn a profit unless you got a REALLY good price and sell really fast.

Alternatively, at least you get some value out of it while looking for a buyer.

Or there's always insurance fraud...

 

[Splinter]

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.

Hey - some people enjoy cars they can afford.

But yes, some do buy stuff they should not be even considering.

 

[Sinbad]

You sell, settle with bank.

Send papers to new owner.

There cannot be any profit in this.

 

[Splinter]

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?

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.

As mentioned, the financing costs involved would make it quite hard to turn a profit unless you got a REALLY good price and sell really fast.

Alternatively, at least you get some value out of it while looking for a buyer.

Or there's always insurance fraud...

This whole suggestion from Aqua seems ridiculous. How do you turn a profit buying on finance?

 

[Splinter]

You sell, settle with bank.

Send papers to new owner.

You cannot sell without banks permission, seeing as they own the car.

 

[cguy]

This whole suggestion from Aqua seems ridiculous. How do you turn a profit buying on finance?

Purchase the car by financing, hold it for a while. Then when the price of the car soars, as they usually do... you sell! Profit!

 

[cn@]

Purchase the car by financing, hold it for a while. Then when the price of the car soars, as they usually do... you sell! Profit!

What kind of car's price soars.

Maybe a high end car like what you can purchase in Ca, lee, for, ni, ay. But for us plebis, eastern brands with low maintanance costs is mostly what some of us can afford. And their prices never rise.

 

[Sinbad]

Initiation costs, early settlement penalties... No way you can flip new cars like this on credit

 

[cguy]

What kind of car's price soars.

Maybe a high end car like what you can purchase in Ca, lee, for, ni, ay. But for us plebis, eastern brands with low maintanance costs is mostly what some of us can afford.

It seems that I should have added /sarcasm tags.

 

[cn@]

It seems that I should have added /sarcasm tags.

Aaaahhhh, I see .... lol,lol,lol,lol!!!

 

[Slootvreter]

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

I simply find the notion that a car is to compensate for something very lame. No elaborate explanations required. And before you assume, no, my car does not cost me most of my salary

 

[CamiKaze]

I simply find the notion that a car is to compensate for something very lame. No elaborate explanations required. And before you assume, no, my car does not cost me most of my salary

I think you misinterpreted my post. It was related to people that buy an expensive car where they have a low salary.
I've seen it many times where I grew up. The only way to get girls and stupid superficial things is to appear as if you got everything in order, in the meantime, the guy is living by his parents because he can't afford to put that money to better use other than looking popular.

 

[Splinter]

It seems that I should have added /sarcasm tags.

Yep

 

[Splinter]

I've seen it many times where I grew up. The only way to get girls .

But, but, but, it got girls?

 

[kanzen]

Software Developer, 27
Salary: R70k
Rental Income: R7.5k
Nett: R56k
Expenses: 38k

Extra goes towards paying off debt due to stupid mistakes made when I was younger and helping out family.

 

[Sinbad]

Software Developer, 27
Salary: R70k
Rental Income: R7.5k
Nett: R56k
Expenses: 38k

Extra goes towards paying off debt due to stupid mistakes made when I was younger and helping out family.

Question: what deductions do you have off your salary? Can't see room for pension /provident/medical aid there? Or does the nett include the rent income?

 

[whatwhat]

I simply find the notion that a car is to compensate for something very lame. No elaborate explanations required. And before you assume, no, my car does not cost me most of my salary

Yup, people spend money on different things. Some like fast and nice cars instead of old beaters, others buy alcohol/drugs or go on overseas trips. Others have kids.

It is silly to judge someone based on what they drive.

 

[grim101]

You cannot sell without banks permission, seeing as they own the car.

Many things you can't do, but what they don't know, can't hurt them.

Same as dealer. He buys car and settles it and gets papers in 7 days. Sometimes he already sold it before the papers arrive.

 

[kanzen]

Question: what deductions do you have off your salary? Can't see room for pension /provident/medical aid there? Or does the nett include the rent income?

The nett amount includes the rental income so it's basically just PAYE and UIF taken off. My employer doesn't contribute towards medical aid and pension.

 

[SauRoNZA]

Many things you can't do, but what they don't know, can't hurt them.

Same as dealer. He buys car and settles it and gets papers in 7 days. Sometimes he already sold it before the papers arrive.

Dealer is very different.

1. Can settle in cash so there is no hassle.

2. Has access to dealer plates and other services a casual person on the street doesn’t.

Dealer knows once it’s paid the papers will arrive and has a separate contract with the buyer that it will happen.

Casual street oke requires buyer to settle it and then provide papers so not really the same thing at all.

There simply isn’t a profit to be made in this picture.