Vehicle Insurance help

Go for MiWay and get a third party fire and theft. I also have that cover and it sets me back R350 a month for my 2010 Ford Figo. Another thing I love about MiWay is because on Hellopeter.com, most comments about MiWay are compliments instead of complaints. So there are countless people who have received satisfactory service and claims from MiWay.
 
Sly21C said:
Go for MiWay and get a third party fire and theft. I also have that cover and it sets me back R350 a month for my 2010 Ford Figo. Another thing I love about MiWay is because on Hellopeter.com, most comments about MiWay are compliments instead of complaints. So there are countless people who have received satisfactory service and claims from MiWay.
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Got best quote for my civic from miway
 
Just some food for thought:

Statistically accidental damage accounts for 70% to 80% of all claims which insurance companies incur.

Only 35% to 40% of all vehicles have some form of insurance.
 
Damn, there is really no nice cars in my bracket. the only car that appeals to me is the i20 and the Kia Rio 1.4. i20 looks very boring like the run x which is overpriced. Rio costs R181 000, how much interest will be added on the car and how insurance will you be paying. overall can i expect to pay R3500 for the installment+interest+insurance.
 
KOPITE said:
Damn, there is really no nice cars in my bracket. the only car that appeals to me is the i20 and the Kia Rio 1.4. i20 looks very boring like the run x which is overpriced. Rio costs R181 000, how much interest will be added on the car and how insurance will you be paying. overall can i expect to pay R3500 for the installment+interest+insurance.
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you will be paying more than that
 
well it depends how long you finance and at what rate as well as what insurance rate you get

insurance i reckon you will be looking at around R900-1200 again depending on the rate you received based on your portfolio

and on a R180k loan @ 12 % over 60 months with no balloon and no deposit like R4k per month
 
D3x! said:
well it depends how long you finance and at what rate as well as what insurance rate you get

insurance i reckon you will be looking at around R900-1200 again depending on the rate you received based on your portfolio

and on a R180k loan @ 12 % over 60 months with no balloon and no deposit like R4k per month
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i will give a 60K deposit too, but i hear if they count the deposit in then your payment does not come down that much. would it be better to only put the 60K down once the first payment has been debited. will the deposit bring the payment down to R3.5K per month.
 
KOPITE said:
i will give a 60K deposit too, but i hear if they count the deposit in then your payment does not come down that much. would it be better to only put the 60K down once the first payment has been debited. will the deposit bring the payment down to R3.5K per month.
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no pay deposit up front

and then on a loan of R120k you will be looking ar around R2.7k per month so yes then u will be in your R350k range give or take
 
thanks man. i think buying a 2nd hand i20 might be a better idea. how much does the i20 remix go for nowaday. looking for something sporty new or 2nd hand in the price range of 120K-130K. nippy, light on fuel, 4 door spacious hatchback and a looker on the road.
 
KOPITE said:
i will give a 60K deposit too, but i hear if they count the deposit in then your payment does not come down that much. would it be better to only put the 60K down once the first payment has been debited. will the deposit bring the payment down to R3.5K per month.
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D3x! said:
no pay deposit up front

and then on a loan of R120k you will be looking ar around R2.7k per month so yes then u will be in your R350k range give or take
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I bought a vehicle last year and was planning to put down a deposit including trade-in of about 60% to 70% of the value. The person I dealt with advised me not to put in such a big deposit, as the bigger the loan, the lower the interest would be. So I simply offered my trade-in as a deposit and once the loan was agreed at the best interest rate they could offer, I then paid in the additional deposit, asked them to captilise the amount, which reduced my instalment with the lower interest rate.

Not all banks, apparently, allow you to pay in deposits like that, so check before making the final decision.

Also, if you can, try paying in any extra amounts you can afford, e.g. an extra R100 a month, as this will reduce the interest and reduce the number of months you pay the loan off over.
 
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