What to do????

R

Robvd

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Hi Guys

So.... I am in kind of a situation atm and was wondering if you got any advice?

Ok, to cut a long story short, me and my ex girl moved in together, along the way we decided that I need a new vehicle as I was driving a 1981 Citi Gholf....and I was driving from Brackenfell to Tableview (yeah I know...what a nightmare!)

The solution that was best then was that we wouls sell my citigholf, she would buy her a new I20 and I would buy her Opel Corsa lite 1.4 (2006)
for R40 000

This is where it gets interesting... anyway we eventually did this and I was going to pay her a monthly installment of X amount.
Reason being that my salary was $h1t at that time and no bank would borrow me money Lol (by the way I was 21 at the time and she was 27)

From then our relationship started taking strain, I got a new job which lifted my salary by more than double which was awsum, but then eventually I told her the relationship is not going to work.
And this is where it got ugly, she then changed her mind and said that she wanted R50 000 for the car, it has about 45000K on the clock so still not a bad price... and I still couldnt get any finance as I was only at my new job for about 2 months...bumber
I then accepted her deal and tried to get finance which I couldnt, we then revised the deal, which was that I would pay her R2000 pm for 5months thus bringing the total down to R40 000 again and in that time my credit rating will improve.

So I am now at that point where I need to get the R40 000 and pay her off, I went to FNB car finance and they said I can get R40 000 finance if I put down 10% and pay round about R1250 PM for 48 months.

So ok....my question is...would it rather be better for me to tell her to take her car back and lose the 8K I already gave her..(I will never ask her for this as she lost a great deal of money after the break up as she had to move back in with her parents etc.) and rather take my R4000 deposit and buy a new car??

Lemme know what you guys think.:confused:
 
quite frankly she knew what she was getting into. either finance the car for what you still actually owe on it or tell her to get stuffed if she is trying to extort you.

I have financed my GF's car and should the carp hit the fan i WILL not be a d!ck like that, i knew what i was getting into.
 
If the car is in reasonable condition, take out the loan and then your ex has no say over you at all. Giving the car back to her is quite likely going to open up another can of worms for you.

If it was me, that is what I would do.
 
Khanya said:
Wow, 6 years difference dude?
Click to expand...

Lol...thats not the best part....she is my sister's best friend....so that makes it even more of a ****storm..
JERRY JERRY JERRY!! :D

thing is I feel like its a dead loss..I mean what is that corsa going to be worth in 4 years...nothing...so I wont even have a decent deposit for a next car??
 
Robvd said:
Lol...thats not the best part....she is my sister's best friend....so that makes it even more of a ****storm..
JERRY JERRY JERRY!! :D

thing is I feel like its a dead loss..I mean what is that corsa going to be worth in 4 years...nothing...so I wont even have a decent deposit for a next car??
Click to expand...

well it being a dead loss does not make it right for you to dump the car on her, you both need to be fair on your initial agreement, obviously things have changed with you no longer being together so naturally she is pi$$ed and doesn't want the debt and wants you to take it over. bottom line is you need wheels anyway.

one question, say you were to sell the car to give her the cash or just tell her to stick it what would you do for wheels?
 
D3x! said:
well it being a dead loss does not make it right for you to dump the car on her, you both need to be fair on your initial agreement, obviously things have changed with you no longer being together so naturally she is pi$$ed and doesn't want the debt and wants you to take it over. bottom line is you need wheels anyway.

one question, say you were to sell the car to give her the cash or just tell her to stick it what would you do for wheels?
Click to expand...

We are not on bad terms anymore...actually friends. She does not have any debt on the corsa. What I was thinking is that I already paid her 8K and I owe her 42000... I could sell the car to get her the 42000 or she could keep it and the 8K..her choice..
I will then take my 4K deposit and get a new car? like say the new picanto or the new rio coming out...?
 
Robvd said:
Lol...thats not the best part....she is my sister's best friend....so that makes it even more of a ****storm..
JERRY JERRY JERRY!! :D

thing is I feel like its a dead loss..I mean what is that corsa going to be worth in 4 years...nothing...so I wont even have a decent deposit for a next car??
Click to expand...

should have kept the golf ... :p
 
Robvd said:
We are not on bad terms anymore...actually friends. She does not have any debt on the corsa. What I was thinking is that I already paid her 8K and I owe her 42000... I could sell the car to get her the 42000 or she could keep it and the 8K..her choice..
I will then take my 4K deposit and get a new car? like say the new picanto or the new rio coming out...?
Click to expand...

how do you owe her R42k still if the car initially cost R40k? imo you owe her R32k. Did she buy the car cash?

and if you couldn't initially get the R40k finance how are you going to get finance on a new picanto or rio?
 
D3x! said:
how do you owe her R42k still if the car initially cost R40k? imo you owe her R32k. Did she buy the car cash?

and if you couldn't initially get the R40k finance how are you going to get finance on a new picanto or rio?
Click to expand...

oh and i don't see you getting R42 for the car :p
 
D3x! said:
how do you owe her R42k still if the car initially cost R40k? imo you owe her R32k. Did she buy the car cash?

and if you couldn't initially get the R40k finance how are you going to get finance on a new picanto or rio?
Click to expand...

Well initially I was earning a $**** salary..since then it has more than doubled...so I guess I will qualify...
AsI said after the brake up she changed the amount to R50K....
The Corsa is in perfect condition...mags, spoiler, powersteering only 45000K on the clock...
 
Robvd said:
Well initially I was earning a $**** salary..since then it has more than doubled...so I guess I will qualify...
AsI said after the brake up she changed the amount to R50K....
The Corsa is in perfect condition...mags, spoiler, powersteering only 45000K on the clock...
Click to expand...

ok then your initial op is very confusing, it sounded like you could not get the finance after getting the increase.

also if you couldn't get R40k finance on half your salary how do you expect to get R100k plus.

also i don't see how it is fair that she has changed the price unless she actually incurred costs, but still
 
Sell it with her consent and pay her off. Then get a new car without any baggage.
 
You do have this agreement in writing. If not then you just learnt a lesson wherever there is money involved get a piece of paper to cover you butt.

Thinking she is screwing you over with the sudden increase fro 40k to 50k, even if she invested that she would not have had a 10k return, but that is immaterial you accepted the new 50k price already.

You already accepted a contract to pay her so up to you to find the finances now.
 
D3x! said:
ok then your initial op is very confusing, it sounded like you could not get the finance after getting the increase.

also if you couldn't get R40k finance on half your salary how do you expect to get R100k plus.

also i don't see how it is fair that she has changed the price unless she actually incurred costs, but still
Click to expand...

Sorry about the confusement lol... thing is I have only been working since Jan 2010 so I basically had no credit record.... What kind of Salary do you need to get a car for say R120K? Any of you know?
 
Robvd said:
Sorry about the confusement lol... thing is I have only been working since Jan 2010 so I basically had no credit record.... What kind of Salary do you need to get a car for say R120K? Any of you know?
Click to expand...

i am not to clued up but i think it can't exceed 30% of your salary the repayments

so on a R120k car you would prob look around R3k a month repayment so you would need to earn say R9-10k

but this is just a guess and i am sure it will depend on interest rate etc.
 
but to be honest it seems like you have made your mind up, you don't need us to justify it for you.

Do you think you will be able to get R42k for the car?
 
D3x! said:
i am not to clued up but i think it can't exceed 30% of your salary the repayments

so on a R120k car you would prob look around R3k a month repayment so you would need to earn say R9-10k

but this is just a guess and i am sure it will depend on interest rate etc.
Click to expand...

If this is somewhat how it works I think i would get finance, I earn more than that.
uhmmmm I havnt made up my mind...not trying to justify it...just trying to make the most sensible financial decision...as I dont want to burry myself in debt...the only other debt I have is my study loan...so trying not to overwhelm myself with debt...
bleh...I guess I will have to think hard about this...
anyone know when the new Rio's coming out?
 
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