Residual or 72 months?

Finalised the deal on the GTI.Will fetch car on Friday.Test drove the Koup and wasnt impressed with the overall build .I guess i am used to German builds.

Thanks again!!
 
Fazda said:
An interesting one, as I doubt you will ever find a Forester that was originally sold for R314 000. That was the "Suggested" retail price and we never sold one for more than R289 990 :D

That would then equate to 83.79% of original purchase price...makes you think...;) :p
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Yeah, why was it sold so cheap? :D
 
vsingh said:
Finalised the deal on the GTI.Will fetch car on Friday.Test drove the Koup and wasnt impressed with the overall build .I guess i am used to German builds.

Thanks again!!
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What year model price on the Gti? Also been looking at one or two.

I also wasn't impressed with the Cerato, just did nothing for me.
 
Paul_S said:
It may surprise people but some of the lesser trusted brands actually keep their value very well.

For example the 2010 Kia Cerato 2.0 kept 77.6% of it's value after one year according to the Auto Dealers’ Guide.

That's better than the :
Alfa Romeo 159 1.9 JTS: (R303 500) R195 300 - 64.3%
Citroen C3 1.6: (R148 500) R94 700 - 63.8%
Citroen C4 1.6: (R185 000) R130 300 - 70.4%
Dodge Caliber 1.8: (R206 900) R154 800 - 74.8%
Fiat Bravo 1.4 T-Jet: (R252 100) R192 500 - 76.4%
Ford Focus 1.8: (R196 910) R148 400 - 75.4%
Jeep Grand Cherokee 3.0 CRD: (R517 126) R393 500 - 76.1%
Mazda3 1.6: (R236 440) R180 100 - 76.2%
Mitsubishi Lancer 2.0: (R241 413) R179 700 - 74.4%
Mini Cooper 1.6S: (R290 723) R221 900 - 76.3%
Nissan Xtrail 2.0 4x2: (R288 900) R218 800 - 75.7%
Peugeot 308 1.6: (R197 500) R145 900 - 73.9%
Renault Clio 1.2 Va Va Voom: (R117 000) R86 800 - 74.2%
Ssangyong Actyon XDi 4x4: (R259 995) R185 500 - 71.3%
Subaru Forester 2.5: (R314 000) R243 000 - 77.4%
Suzuki Grand Vitara 2.4: (R322 900) R246 500 - 76.3%
Tata Indica 1.4: (R89 995) R66 900 - 74.3%
Toyota Yaris T3: (R171 500) R130 600 - 76.2%
Volvo C30 T5: R308 000 (R234 700) - 76.2%

The trusted Toyota Corolla 1.6 only kept 78.3% of it's value which is a whopping 0.9% better than the Kia Cerato 2.0.

Source: http://www.iol.co.za/motoring/industry-news/resale-values-we-name-best-and-worst-1.1017906

If you can barely afford the car then I'd recommend buying something else or second hand.
Make sure you don't forget to factor in insurance which is usually over R1000 per month for a "performance vehicle".
It seems as if insurance companies regard anything larger than 1600cc as a performance vehicle.
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They are getting suggested values there...I am almost certain if you buy an alfa mito now (which seems to "hold" its value), the dealer wont give you near what that book says.

Chief Whip said:
i hope u insisted on a FIXED interest rate!
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The fixed rate is usually a fair whack above unifxed. It might be worth investigating with the interest rate low now and set to climb
 
i managed to get fixed at 11% ....so when the rates go up this yr i will still be smiling :D
 
HavocXphere said:
Neither preferably. Would be better to pick a car in your price range. If you absolutely must though, go for longer term...dealing with a one shot heavy payment is difficult unless you have some mad discipline & save up for it.

And if you do have extra cash to save up for it anyway then you might as well buy it straight without residual or long term...which you said you can't.

Remember if you go for extended repayment then you also must actually keep the car that much longer....else it doesn't work. ;)

In summary: Whichever way you spin it if its not in your price range then its not in your price range.
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Re-finance for another 2-3 years does not mean you have to hold on to the car for that long. You can still sell it assuming you manage to get the repayment rate below the resale value...
 
congrats and hope you have many happy miles with her:)
 
congrats.

not sure if would have taken a 4 year old GTI on 72m / residual though...
 
vsingh said:
Wassup gents!

I am considering purchasing a new vehicle but the installments are kinda out of my bracket.I have considered not to choose residual but just dep and finance over 5 yrs.

So the lady offered me a deal over 6 years and it seems better ,offcourse.

I want to know from experience which is better or not.Residual or longer term.

What factors do i need to consider??

Thanks;)
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buying with finance over 5 years or buying with residual is a bad idea. Live within your means. ;)
 
2nd hand performance car over 72 months, you're brave.
 
ambroseg1 said:
buying with finance over 5 years or buying with residual is a bad idea. Live within your means. ;)
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With all due respect that is a rather daft statement. I totally agree residual is not a wise idea, but not everyone can buy a car cash.
 
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