@SowetanLIVE Records will show, the driver previously owned a VW. There is no difference between BMW & VW drivers - besides the upgrade. Rackless!!!
@Zickiie_S Ballon payment = if you cannot pay R160k ballon in cash because of blacklist, because you never paid loans, Rage / Edgas / Jet accounts - you wont qualify for ballon refinance - your car will be respossed on day 61.
@Zickiie_S If you need a car, visit financial institution (Nedbank, Wesbank, etc) with all documents - tell them you are here to apply for car finance - DO NOT APPLY FOR THE CAR AT THE DEALERSHIP.
When you qualify, you will be given certificate (say R240 000). Here is why. Check comments
@Zickiie_S Ballon payment = certain money placed at the end of your contract, say R500k car & you pay R340k within 5 years & left with R160k of ballon. You need another loan to repay the R160k / pay it within 60 days.
@Zickiie_S 1. Landing prime rate of banks vs dealership vary insanely
2. Bank will give you a debt of R240k with total repayment of R420k - with dealership it goes over to R500k repayment
3. Your salary (take home) x 0.2 = this is what you afford to pay monthly.
@nyebe_official All debts in SA expire after 3 years, dont take their calls, just ignore them, then claim prescription on the 4th year, then take another loan, then ignore them for 3 years
@nyebe_official Just got to the bank, take R150k loan, buy car cash - then pay the loan first month - ignore their calls for 3 years, on the 4th year, call them, and request prescription letter, as the debt have expired. Send the letter to Experian, and credit score rebuilds.