I think you know exactly what I mean but you just wanna take us down a narrow semantics road. The bank is listed as the title holder in the vehicle certificate, hence after you paid off the car you have to request the NaTIS documents and go do a Change of Ownership at the traffic department. When you go collect "your new car" from the dealership, the RELEASE NOTE states that you’re collecting the car on behalf of the bank.
😂 I agree with you, at face value it doesn't make sense to take up those agility/BMW select finance options. however, most people who buy performance cars, especially in their 20s, aren't planning on keeping those cars for more than 5 years. So if you were to finance a car for 6 years, but in 3-4 years decide you wanna sell your car, like you said especially with BMWs, there's a good chance the value of the car is less than what you owe the bank. so if you decide to sell the car especially through dealerships (ngoba bayarobha), you might sell your car and still end up owing the bank on top of that. Lapho you were paying R15k for a new car, after 3 years you sell it and still owe the bank R100000, so all that money down the drain. The only way to get a best deal is if you do a private sale, and let's be honest, who's gonna buy a 2021 BMW G20 2nd hand from a person, due to risks associated with private sales especially for such an expensive performance car. Most people who afford these cars would rather go through a dealership in order to get finance from a bank. So basically those R15k every month down the drain+R10000(example) on top. it Makes sense to finance a car you're gonna to keep for long, but if you're someone who's not planning to keep a car for not more than 4-5 years or wants a new BMW, those deals are for those people, plus those cars always have a motor/maintenance plan. So one less problem to worry about. But jah, the restrictions they give are a problem.
Very informative. I'm addicted to this channel mostly because I had zero knowledge about cars until I started growing some interest in Feb 2022...Rea leboga Mr!
Excellent video. I bought a VW polo 2010 about 6 years ago. I cancelled my insurance the moment it left the floor. I used that money towards the installment of the car. My insurance was R880 when I started. I managed to settle my car in less than 3 years, using the insurance money towards the car installment
@@shamisomarabwa202 100%. I only took out the insurance, as it was necessary before I can take my car off the floor, but I cancelled it 1 hour later, and have been driving without an insurance. It's just a risk I took, to pay my car off quicker.
@@marschlionoalexander8498 Alright I see. I also don't have insurance and been driving 5 years now. Risky, but well. Car was bought cash though (second hand)
If you want to make extra monthly payments added to the installment with who do arrange for the extra payment the bank that finances the car or how do you go about it? obviously after the deal is complete.
You’ve made buying a car, both second hand and Brand New , a lot easier. Especially when you give a conclusion if whether or not the cars worth it then jiki jiki you give another alternative
It's possible to settle/return a car bought on BMW select finance before the term ends and without paying anything extra. If you're lucky you could even get something back, especially for people who bought cars pre or during the pandemic when cars were much cheaper.
Please do a detailed review on the latest Mazda CX3, I really love it and I see it a lot in the road. Seems like a very popular car but there’s absolutely nothing from SA about it on RU-vid.
I think the lease agreement is perfect for someone wealthy who's in the country for 4 years but who's not here for a permanent stay. Maybe you own multiple companies and you are in Mzansi for some time to focus on business, then after 4 years or so you go back to England or wherever
Thank you somuch, I'm learning alot from your videos by the time I get a car I'll be fully informed. Almost made a mistake of buying a car online but the offer was so ridiculous I walked away, also I didn't know about VAT & wasn't informed, I was surprised to see it added on my offer
Another option that was not mentioned in this video is buying a car through home loan/bond. If you have an existing mortgage, you can apply for additional loan, that will also form part of your home loan. The Bank will give you the cash to buy a new car. The interest for your loan will be the same as your mortgage.
Aii, dokotela. Nna, I have decided Suzuki swft sport, t cross dsg or polo vivo. Still to decide though betweenthem. As for finance bank is the only way.
I was planning to buy a car with a personal loan i did an application online and the installment was going to be +5k and the interested rate was 24% for 150k so I dropped it there it's ridiculous the installment sale is better
But you'd have peace of mind owning the car rather than the bank till you settle the installment loan. You can still beat the system and significantly reduce the interest charged by paying a bit extra each month.
The select and agility option are usually for companies that give their bosses/CEO and or top management. Those people would be employed for a period of a short time. For them it makes sense to take these options as they would have an option for the car allowance.
I know a lot of people who'll be trapped in those lease agreements thinking they saving kanti nope😂😂 So all in all we know that some people aren't rich with their Benz or Bonners 😂😂😂
Lovely sweet short and to the point....if I may make a request on housing finance please!....wether it be apartments, townhouses or residential. As well as best practices and what to spot and avoid....than you!!
Another way to buy a car is to use Home loan access facility. With this option, you use available funds on your home loan to buy a car. Increase the monthly payment for your home loan to match what you’d be paying for the car so that you save on interest in the long run.
Muzi my mother she's on rent 2 buy a car and she ws supposed to finish da car in February next year but now they called her and tell her that she'll finish paying it in 2027, bt da contract she signed says she'll finish the car in 2023, what must she do in dis situation
The video was very educational 👌 Much appreciated. You just didn't have to throw shade at the end since you have "big money". It just leaves a bad taste in the mouth.
They say getting a bond and then get a bond extension you shall be well cause 1. The extension won't be linked to the newly acquired asset 2. The interest rate won't change 3. If the installment for the asset should be around 10k, you can afford to pay less(e.g. 3k) cause its linked to your bond
How to fry eggs without cooking oil 😭😭🤣🤣🤣. Some time you show do a video covering new entry level vehicles (maybe 5 to 10 of them in one vehicle then add your character)
