Residual cut off's...again!

A

ALFAHOLIC

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hi ouens...

Aparently residual cannot be applied to ANY car! It has to be a certain age...what is the residual cut off age of a car?

2006/7/8???

Cherio:D
 
Don't they only do it on new cars?
 
There's nothing set in stone - but generally up to 3 years old

But it goes in a scale too - so you'd get a maximum of 40% on a 2010, 30% on 2009, 20% on 2008 and 10% 2007.
 
That's swak...coz I'd like to get GTA but with residual so that I can have more cash available .... damn!

Oh, wait...isn't that like kind of admitting that new cars are EXPENSIVE? Thus you only allow residual on newish cars?
 
ALFAHOLIC said:
That's swak...coz I'd like to get GTA but with residual so that I can have more cash available .... damn!

Oh, wait...isn't that like kind of admitting that new cars are EXPENSIVE? Thus you only allow residual on newish cars?
Click to expand...

More cash available? And what about the final balloon payment? Which, guessing from the fact that it's a 300k + car will be more than R30 000.

You going to save up for that? Or refinance it later? Because with Alfa you can't really sell and hope to cover that aswell. Resale value is like a kamikaze pilotm
 
Residuals should be done away with altogether IMO. It's not in keeping with the NCA which was meant to protect consumers.
 
As mentioned, I don't believe they're all bad.

I always seems to be on the minority of every argument - whether plasma vs LCD, PS3 vs Xbox or Residual vs standard ISA ;)
 
lol ... I say it 'depends' when it comes to all 3 - no clearcut 'winner' :P
 
CRT, Nintendo (and by nintendo I mean golden china), Walking.
 
LCD, PS3, residual...

as I understand residual, you REFUSE to pay for the mark-up of the vehicle....let's say 20-30% of the vehicle's floor value...Even though the financing house charges a monthly fee for that residual which you are not servicing, the idea is that come selling time, the residual + outsanding monies are taken care of when trading the vehicle in or selling it off...

now going 40%+ and even as high as 72% (in the case of Mini's promotion) is just being irresponsible....
 
ALFAHOLIC said:
72%???
Click to expand...

yep, couple of year's ago my friend's wife wanted to go for the deal....something like Mini Cooper for R2799 per month. He called, they told him the terms.....stuff like 36 months, ?? % deposit (can't remember), 72% residual value, something like 12000 or 15000km per year you allowed to travel and financed through BMW finance....

well that was what HE said...he did ask the dealer if people went for the deal...but the response was just not that positive...
 
the graduate said:
yep, couple of year's ago my friend's wife wanted to go for the deal....something like Mini Cooper for R2799 per month. He called, they told him the terms.....stuff like 36 months, ?? % deposit (can't remember), 72% residual value, something like 12000 or 15000km per year you allowed to travel and financed through BMW finance....

well that was what HE said...he did ask the dealer if people went for the deal...but the response was just not that positive...
Click to expand...

DAMN!
 
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