Vehicle Finance: Tips and Advice

[Paul_S]

That's a lot of mileage in under 2 years

A lot of mileage in a short amount of time isn't necessarily a bad thing.
A salesman doing long trips can clock up the kilometers pretty quickly but only cause minor wear to the vehicle.
It's the 5 or 6 year old vehicles with less than 100000km on the clock that are a problem because in most cases it means the vehicle has been driven short distances along lots of stop-start routes and it's the continuous braking and acceleration that wears things out the most.
My father bought an old Mazda 626 from a salesman that had 220000km on the clock which had blown the head gasket. I opened the engine up and the original honing marks on the cylinders were still visible. Had the head skimmed and slapped a new head gasket on and off she went.

 

[AirWolf]

In the end much to my surprise I discovered the company I work for, has a special deal / agreement with bankfin, and I ended up buying my car @ prime -2.5 %. So shopping / asking around can wield great results. As vrot as the market is, there are still people trying to win business from you.

Man, that's a sweet deal. Got any "contacts" I can speak to?

Also which Accord did you have in mind ? I had the Executive model... awsome car. Saved my life when I had my crash. Every single safety feature kicked in when it needed to.

The one I was an S type.

i would personally go for a higher purchase agreement than a lease with residual. In these uncertain times rather get a fixed rate. And remember a bank will not finance more than retail on a car if bought from a private person. P2P finance has been the best finance house i have dealt with, buying or selling

Isn't that supposed to be "hire"?

This was from dealer. I also prefer the deals without residual amounts to pay at the end.

Yeah agreed - price wise there are not many accords for under R150k though.

Found these:


That's a lot of mileage in under 2 years

My problem is that R140k is the maximum I can go for on my salary and monthly expenditure.

Of those 3, I'd have a serious look at the first one (take it to a trusted mechanic and the A/A), since it has the lowest kilos with a service plan

Yep, great deal, but out of my budget

 

[AirWolf]

I don't qualify for vehicle finance, because my salary is under R72k pa. That isn't really a problem because my salary is close, so I can get an increase from my boss.

The bad news is the trade value on my TenaCiti is R54k, and I paid R82k last year. So the salesman says that to get finance for R86k, my salary would have to be in the region of R96k pa.

Shot down in flames.