Yup gotta agree with the rest here, downscale a bit, if these are the cars you want to buy over 7 years with a residual, you'd be much better of just buying a demo model 1.4 and paying it off without a residual in 4-5 years
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Question of the Day: Did you buy your last car with cash or on a finance plan?
Residual
- Thread starter zizo911
- Start date
Yup gotta agree with the rest here, downscale a bit, if these are the cars you want to buy over 7 years with a residual, you'd be much better of just buying a demo model 1.4 and paying it off without a residual in 4-5 years
The monthly repayment should be no more than R2500, we thinking of the BMW 318i for R90K at Velocity.
http://www.velocitycars.co.za/show.php?id=90&category=Parow%20%20&make=&submit=Search&p=15&page=1&srt=added%20DESC
Chevron
Serial breaker of phones
Get a cheaper car. You are buying beyond your means. Or hasn't your SO being blacklisted been a warning light for you?
Buying a BMW with 208 000km on the clock, better hope the previous owners looked after it and that something doesn't break on that car...Why do you want to buy a car for 90k over 7 years, surely if you can afford R2500 a month you'll be able to pay it off quicker without a residual?
Edit: According to the wesbank calculator you'll be able to pay off 90k in 48 months at 0 residual at R2400 a month
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Messugga
Honorary Master
Yup, recipe for disaster that one. There's a very good reason it's only R80k.
Thanks, I'll definatly look in to this option. Now just waiting on a call from Velocity.
But seriously though, if something breaks on that BMW, you going to have to take out another loan to fix it
Be sure to take someone car savvy (if you're not) to check for previous accidents and what not
marco79
Expert Member
If you have a poor credit history you are going to get an insane interest rate. Rather clear up your or your sugardaddies name before buying the car.
It comes with a 2 year warranty
Dolby
Honorary Master
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You can.
Generally the residual decreases with the age of the car though. That said, I bought a 18 month old car at 30 or 35%
The_Unnamed
WUD FTW
2 year warranty is nothing if you are planning on paying it off over 5 - 7 years.
Seriously consider a different car.
The dealer does the finance.
R13...
Honorary Master
I always thought zizo was a dude
Messugga
Honorary Master
Through a bank, unless they're an authorized financial institution, which I highly doubt.
Kloofvreter
Honorary Master
The reason why it's 80-90K is not the mileage, it's the age. These cars just lose so much value
Azbubu
Honorary Master