Vehicle finance

[nogard]

What is the best interest rate I can (realisticaly) hope for for finance on a new vehicle?

Price ~200K

 

[D3x!]

Apply and find out :/

 

[Sinbad]

Depends on amount of deposit, affordability, credit history and whether you're buying from one of those dealers that offer special low-interest deals - if not one of these I wouldn't hold my breath for below prime - probably quite a bit above.

 

[nogard]

Is 9.75% a good rate? Seeing as prime is on 9%

 

[nogard]

Oh, and should I go for fixed or linked to prime?

 

[Sinbad]

9.75 is pretty good for vehicle finance.

Fixed will be higher than linked, generally. You need to consider how long you will take to pay the car off, and whether you think prime will move higher within that period.

 

[nogard]

I struggle to calculate my change when buying a coke. Predictions of prime over the next 5 years is beyond me.

 

[OMB]

you can pretty much bet that prime is only going to go one way from this year, and it's not going to be down

 

[srothman]

I got 9.8% linked last year when I bought my car. Fixed it would have been 14.5%. I went with linked. Even if interest rates go up (which I doubt will happen this year), it will still be cheaper than paying 14.5%. this was with Standard Bank Vehicle Finance.

 

[JacD]

I bought last week, i`m considered to be a good credit candidate and after all the bargaining, i got prime (9%)