Prime - 1 car finance

rjay100

rjay100

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So I got approved for car finance with Investec @ prime - 1. . I haven’t seen anyone here post anything better than that for a car. I’ve only seen lower rates for houses.

Do banks offer below that? Would it be worth applying? I’d ditch Investec for 1.15 or greater but don’t wanna hurt my credit score applying nothing
 
You can get rates like that but it’s usually a bigger hassle with cars.
If you already have relationships with the other banks, give them a try
 
Pretty good rate, don't see how you would hurt your credit score applying anywhere else but unless you got a really thing going with another bank as an existing customer it's unlikely you'll do better.
 
Probably not very relevant, but BMW occasionally offer close to 0% interest rates on some of their bikes.

They seem to have similar offers on some cars if you use their finance, but only on really short repayment periods.
 
Remember with Investec you also don't pay the monthly finance administration fee if debit order is collected from an investec account. It's less than R100 a month but adds up to a few grand over the life of the facilty.
 
The other 4 banks are slacking. Unless it takes longer than 24hrs to get someone to actually talk to. Nedbank (automated) gave me 15%. Haven’t gotten the chance to ask for a counter - don’t think I will. Prime -1 is fine

PaulGherkin said:
First you have to be rich to get an account with Investec.
Second, why finance, jy is mos rolling in the deep.
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The opportunity cost of using all the cash is too high. Looking at my track record I can double R700k in 2.5 years
 
Jan van Riebeeckstad said:
How long have you been looking for a vehicle?
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Probably around 3 years in total. Each time I got close enough to buying one I’d back out coz I couldn’t justify paying so much for a car. But they’re gettin more expensive so I just said fv%k it
 
Now I’m insurance searching. Saw a thread that said Naked or Santam as best options. Naked quoted R2400 with R7500 excess. Will check Santam tomorrow
 
Nope it’s a 2024 128ti
Santam quoted me R3700 then R3000 if I installed their tracker. 5800 excess
Miway was R3600 5k excess

Maybe it’s coz it’s my first car and I’m not married. Anyway. Naked it is.
 
rjay100 said:
So I got approved for car finance with Investec @ prime - 1. . I haven’t seen anyone here post anything better than that for a car. I’ve only seen lower rates for houses.

Do banks offer below that? Would it be worth applying? I’d ditch Investec for 1.15 or greater but don’t wanna hurt my credit score applying nothing
Click to expand...
thats good. wont hurt trying elsewhere. i get prime -2 for cars and houses. but thats because my wife works for a bank hahaha.

rjay100 said:
Now I’m insurance searching. Saw a thread that said Naked or Santam as best options. Naked quoted R2400 with R7500 excess. Will check Santam tomorrow
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im with santam, very good. but i also use a broker. a broker can really make life easy. i have a policy with my home where i dont even need to state home goods. if they rob me of my phone, if they take my bike, or i drop water on my PC. its fully covered. its some premium option i get due to total insured (2 x houses, 3 cars ). so might be worth looking into
 
nazmo said:
thats good. wont hurt trying elsewhere. i get prime -2 for cars and houses. but thats because my wife works for a bank hahaha.


im with santam, very good. but i also use a broker. a broker can really make life easy. i have a policy with my home where i dont even need to state home goods. if they rob me of my phone, if they take my bike, or i drop water on my PC. its fully covered. its some premium option i get due to total insured (2 x houses, 3 cars ). so might be worth looking into
Click to expand...
Mind sharing your broker? You can PM
 
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