Vehicle Finance now 96 Months......... - Page 6





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  1. #101

    Default Re: Vehicle Finance now 96 Months.........

    Anyone opposed to the 96 months, yet typing off a financed device, has a housing mortgage older than 10 Years, or even a silver credit card really is calling it bluff.

    Credit makes the world go round, which is why even supermarkets are introducing credit when buying milk and bread. Before long, even restaurants will have credit facilities.
    Marketers are smart. They know not many will keep the vehicles for the full term, so an unsuspecting consumer is enticed by the ribbon and insta upload as well as the smell of a new(er) vehicle, and thus will reset the loan at year 5-6.

    You know how it is, your 24 month cell contract. You "eligible for an upgrade" from around month 20. They call you, not the other way round these smart people. Lock you in with the latest release "at only Rxyz".

  2. #102
    Join Date
    Aug 2012
    Location
    Gansbaai
    Age
    37
    Posts
    101

    Default Re: Vehicle Finance now 96 Months.........

    Quote Originally Posted by jelo View Post
    Yes, a well aged horse steak should be treated like venison and coated in olive oil, salt and pepper, seared on all sides and sliced thinly, cranberry or other sourish fruits can contribute to the flavour, but you could just sprinkle with lemon juice or balsamic vinegar depending on your preference..........



    I have yet to find a decent donkey recipe.
    In my opinion donkey tastes like ass
    1992 Disco 1 200tdi

  3. #103

    Default Re: Vehicle Finance now 96 Months.........

    OP: If you want me to move the discussion, let me know. I'm thinking this might be the right thread as it revolves around financing...

    I've reached a point where I need to seriously consider some new wheels. The car in my signature is running towards 250000km. I'm looking at a new 4x4 Fortuner 2.4 Auto (will consider a decent 2nd hand 2.8 with low KM's as well). Will be putting down R100k as a deposit.

    What would you guys reckon is a decent interest rate to settle for these days? My last purchase was at 12.5% over 72 months (paid it off in 48 though, saving a ton of interest along he way)which lot of people told me was too much....stuff happened in a hurry though and it was 2nd hand with 153000km on the clock. I want to stick to 60 or 72 months.


    I know I know, everyone has different risk profiles, etc....I'm just trying to get to a ballpark figure here. Clean credit record and no defaults and/or black-listings, ever. What do you guys get?

    I trust the Toyota brand so I want to pay off the car and then it's SWAMBO's turn for some new wheels again....this car must last me 8-10 years in other words and will do some over-landing to Nam + Botswana as well as fair amount of our own country in that time. Also, for the first year or 3 I ideally don't want to worry about services/warranties.

  4. #104
    Join Date
    Jun 2016
    Location
    Randfontein
    Age
    32
    Posts
    1,441

    Default Re: Vehicle Finance now 96 Months.........

    Quote Originally Posted by mysticBoer View Post
    OP: If you want me to move the discussion, let me know. I'm thinking this might be the right thread as it revolves around financing...

    I've reached a point where I need to seriously consider some new wheels. The car in my signature is running towards 250000km. I'm looking at a new 4x4 Fortuner 2.4 Auto (will consider a decent 2nd hand 2.8 with low KM's as well). Will be putting down R100k as a deposit.

    What would you guys reckon is a decent interest rate to settle for these days? My last purchase was at 12.5% over 72 months (paid it off in 48 though, saving a ton of interest along he way)which lot of people told me was too much....stuff happened in a hurry though and it was 2nd hand with 153000km on the clock. I want to stick to 60 or 72 months.


    I know I know, everyone has different risk profiles, etc....I'm just trying to get to a ballpark figure here. Clean credit record and no defaults and/or black-listings, ever. What do you guys get?

    I trust the Toyota brand so I want to pay off the car and then it's SWAMBO's turn for some new wheels again....this car must last me 8-10 years in other words and will do some over-landing to Nam + Botswana as well as fair amount of our own country in that time. Also, for the first year or 3 I ideally don't want to worry about services/warranties.
    if you have good credit scoring and with that deposit you should get 10.5-11%
    2000 Land Rover Discovery II TD5
    2019 Suzuki Baleno 1.4 GLX platkar

  5. #105
    Join Date
    May 2015
    Location
    Pretoria
    Age
    40
    Posts
    124

    Default Re: Vehicle Finance now 96 Months.........

    Roughly, a 600k car over 96 months with 12% interest, total cost is 945k. You are paying almost 60% of the cars initial value just in interest.

  6. #106
    Join Date
    Apr 2010
    Location
    Garsfontein
    Age
    41
    Posts
    1,284

    Default Re: Vehicle Finance now 96 Months.........

    Quote Originally Posted by Dwerg View Post
    Roughly, a 600k car over 96 months with 12% interest, total cost is 945k. You are paying almost 60% of the cars initial value just in interest.
    Only if one doesn't pay it off earlier.

  7. #107
    Join Date
    May 2015
    Location
    Pretoria
    Age
    40
    Posts
    124

    Default Re: Vehicle Finance now 96 Months.........

    Quote Originally Posted by supersunbird View Post
    Only if one doesn't pay it off earlier.
    And very few people will. I don't buy that argument anyway. If you plan to pay it off in say 36 months, just finance it over 36 months.

    And I also don't buy the argument that someone with 600k available could be better off financing and using the money to generate >12%. What about the tax implications? You'd have to be generating pretty large returns for that to make sense.

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