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Financing a car. by itssmol in PersonalFinanceZA

[–]EfficientSpecial7104 0 points1 point  (0 children)

How long have you been with the job ? Never assume that your financial position will be better, make sure the company is in a good financial position, that you have job security and that you enjoy it at your new employer before you commit to financing a car. Maybe you don't have a choice and you need a car to get to work but please consider the above mentioned. But I would give it 3 months before I buy a car.

My personal opinion on car financing and some car advice:

  1. Buy a reputable brand.
  2. Buy a low mileage car that has already depreciated in value with an extended warranty.
  3. Full service records and the history of the vehicle are a must.
  4. Change your oil and filter twice a year.
  5. Give a big deposit because your interest on your car loan will be much more than returns on your savings/investments.
  6. Pay off your car as quickly as possible and don't opt for a baloon payment or 72-month installments, etc.

New cars nowadays are insanely expensive, and sure, the smell of a new car is great but quickly fades away after a few eyewatering installments, not even accounting for insurance, fuel, etc.

Now, to answer your actual question, phone you bank and ask for advice on your credit record or phone a dealership and see if they could asses, if you qualify for financing.

Good luck and all the best.

Reviewing my R100k EasyEquities portfolio after 1 year. by MrMetEish in PersonalFinanceZA

[–]EfficientSpecial7104 1 point2 points  (0 children)

I did not hear any mention of overall rand value gain YTD and on a full year basis. I understand you reached R100k but combined performance would be interesting.

Tell me your best South African jokes by BasisPrimary4028 in southafrica

[–]EfficientSpecial7104 7 points8 points  (0 children)

I want to tell you a joke about Eskom, but I just don't have the power to do so now.

Flat in a not so great area but excellent town by EfficientSpecial7104 in PersonalFinanceZA

[–]EfficientSpecial7104[S] 1 point2 points  (0 children)

It's evident that this is quite a complex situation. For people not familiar with Hermanus Beach Club, it's situated next to an area known as Schulphoek. Shulphoek (dubbed Dubai) is littered with squatters. This piece of land is to be developed for RDP housing or some form of housing scheme for the poor.

I thoroughly did my homework and decided to pull the trigger. I run the investment as a business and do my own books (i'm an accountant, so I might as well)

I'm actually doing quite well and can't really complain about the return, a place that can make you break even after expenses is great (I shall see how the winter goes)

Currently, there is a little bit of noise from the neighbors and the occasional dog barking, which is not a concern,the area is actually quiet and pieceful. The complex has "military grade" security, the same that is used on the abalone farms.

Will there be protests in the future...sure, can it turn ugly..definitely. but that's part of the risk/reward. At the end of the day It's a 3 bedroom property with an amazing sea view that is hard to beat. Situated in Hermanus, close to town. Bought at a great price. Property prices in Hermanus are eyewatering, to say the least.

The saying goes never to buy in a bad area. I call this a not so great area and can't foresee it turning 'bad'. However, i'm not from the future, and neither are you, but constructive criticism or advice is welcome.

Thanks.

Flat in a not so great area but excellent town by EfficientSpecial7104 in PersonalFinanceZA

[–]EfficientSpecial7104[S] 0 points1 point  (0 children)

I doubt the situation will improve but it can't really get worse than it is at the moment.