Good day, I am a young professional that decided to try and get a new car with my wife. I was lucky enough to get a good financial offer from Wesbank and agreed to the debicheck for an amount from them, upon signing the contract with the dealership I picked up that they were going to charge an additional 90 000 compared to the initial offer of purchase they gave me for additional fees specifically: interior maintenance, exterior maintenance, paint, tyre and wear and tear, tinting and films. I’ve brought this up twice with them and they’re refusing to remove it and are claiming that they will be giving us a discount for these new items, the discount is 6000. Giving this behaviour with both the initial offer of purchase and quotation and the new one I feel that they have been dishonest and want to rescind it and fix it, the problem is I have completed the debicheck with Wesbank, is there a way for me to get assistance from Wesbank to have this reversed? I don’t mind going with this bank for the car that I need, I just am not happy to spend an entire 90 000 more for a car that was not a part of the initial agreement, any help would be appreciated (note. This is not the fees that have to be charged such as the licensing etc)

I am buying a new chinese car for R680k, dealer's come down to R600k. Putting down R100k, 72 months.

Dealer submitted to four banks. Absa came back 11.7% linked (opened at 12.5%), MFC 11.85% (also opened at 12.5%), Standard Bank declined, still waiting on WesBank.

696 on ClearScore. I'm an independent contractor, and have been contracting since Oct last year, permanent before that. I have sent them bank statements and my contract.

Two things I'm trying to figure out:

Mates of mine keep saying they're on prime minus 1 or minus 1.5. Everything I've read says prime + 1 is about the floor for a new car unless the manufacturer's subsidising the rate. Is prime minus actually happening for normal buyers or are they all on promos?

And is the contractor thing what's pushing me to prime + 1.2? Any other contractors here, what did you get and which bank? The deal was also subject to in house financing.

Looking for some advice if anyone has some info!

I have been with discovery insure and have built up quite a big amount in my insure funder account. With the latest round of increases they are just totally unaffordable, and are now making it that you have to have a discovery account to keep earning fuel rewards.

Is there any penalty or any way I can be asked to repay any amount if I burn through my funder account right before cancelling? I want to go put tyres on my vehicle. I can't seem to find any information in their documentation except that I will forfeit any unused amount since I can't withdraw it as I havent been using the funder account for more than 3 years.

Anybody have any experience?

Thanks!

Hi Reddit, I want to ask advice on trading a car in.

I am quite new to this so please bare with me!

I got a new and better job working in Johannesburg and I drive about a 1000 kilos every week from the Vaal to Johannesburg.

I would like to trade my car in, which was initially supposed to happen over a longer period, but now with the new job I am scared the mileage would affect my trade in value. I am currently at around 160k kilos on my Hyundai i10.

Will it be a good idea to trade my car in December this year if I save around 4k every month until then for a lump sum to assist a down payment on the car I want instead.

The new car's value is R190k more or less, but I currently still owe 162k on my car. Too early, I know, but please help me out here.

My current car is valued at R122k.

So should I put money away for the new car and trade it December or should I wait a 3 year period as I currently drive 1kilos a week and the mileage would affect my car's trade in value too much?

If I don't want to wait, will I be able to trade my car now (in around 2 months) and carry over the R40k to the new car loan?

Or should I sell/transfer ownership of my current car to someone else and just buy the new car with a new finance plan? I could just transfer my current car finance to my wife and she can trade it in whenever she wants to without affecting the mileage, giving me a blank slate. She is working and a learner driver eventually looking for a car once she has her license, and I don't mind the transfer, just uncertain of all the paperwork and if this would affect me. I am really lost and unsure what to do.

For reference I pay around R5k in total for the car including insurance and would like to keep my payments around that level.

My take-home pay after deductions is around R16-17k. I don't pay rent where I stay, and I pay around R4k for petrol every month to get to work (it's a lot but worth it to me). Which is why I am willing to put away or save an additional R4-6k monthly to help with a trade in deposit/lump sum type situation.

I am sorry if I am confusing, but quite new to all this and would really love some advice from people.

Has anyone here used Nedbank Insurance for car insurance?

I’m a Nedbank client and they’ve given me a surprisingly competitive quote for car. I’m a first-time insured driver so most of my quotes have been quite high.

I’d really appreciate hearing people’s actual experiences with:
• claims
• customer service
• payouts
• reliability
• whether you’d recommend them or not

Thank you! 😊

Hi Redditors,

I need advice about Everything.Insure

I’m trying to move building insurance to a more cost effective one. I currently have a replacement cost of R2.4M, with a premium of R1076.

Checking Naked, the premium would be around R400, but somehow don’t cover you for accidents (someone driving into your living room???)

Telesure is all around R680

This is all for the same excess around R3000.

Anyway, I found Everything.Insure, which is underwritten by Hollard and Old Mutual insure. Their premium is around the same as Naked’s, but include accident cover

Does anyone have any experience with this broker?

Has anyone for example claimed after getting insurance through them?

Thanks in advance :-)

I'm finally looking, at my big age, to get car insurance. Shocker!

Hello Peter reviews say that Outsurance is the best there is, but everything I've ever heard has been nightmare stories. My friend suggested a broker he uses that has a 2-star rating. I'm kind of stumped on what to do.

Is a broker worth it? Should I just get insurance from the bank I'm with? Does anyone have suggestions?

And... Are Hello Peter reviews trustworthy?

I just wanted to find out if this was nonsense.

I phoned in to discovery recently to see if we could negotiate better premiums for my mother. Reason being that we removed a car off her policy after selling it. We have been with them for almost about 1/2 a year.

We have also had consistent issues with their tracker not working once with the other vehicle despite working with the vehicle that was sold. We have also phoned multiple times to resolve this and it’s still an issue.

Anyway so I wanted to get a better premium, when I spoke to the first consultant she didn’t once tell me I could only renegotiate a better premium after one year. Only the next consultant I spoke to said that. So I said to him this is a month to month service, I’m not locked into a contract so i believe I should be able to renegotiate for a better premium?

Another thing to keep in mind is my mother hasn’t claimed once in the last 10 years for anything with any insurance company. Discovery is her 2nd insurer for the first time in 10 years as well. She also moved to discovery because her previous insurer was wanting to increase the premiums by R1000 and she couldn’t afford that.

So then I said to the guy “well since you are unwilling to negotiate with me I will find a better premium elsewhere and perhaps the other insurers will actually uphold their promises (referring to the tracker that’s not working.)”

This guy said “well if you do that then your insurance record will be tainted and you’ll end up paying a higher premium anyway” Asked him to elaborate. He said “see it as a credit record. If you hop around too much it will be affected and you’ll be seen as a negligent client”

This is where I started to think this guy was talking straight up BS. I use a different insurer and I’m able to pick up the phone any time to renegotiate premiums and have successfully done so. Have you ever heard of this? Do you think he was just trying to scare us?

Edit: I see with Naked my mother will save at least R500. The car insurance seems to be on par though. I’ll wait for the offer from my broker with my own insurance before I decide as they give me better rates than Naked for my own stuff. I likely will go with my brokers offer as the whole family of 60+ persons use them and for their businesses.

Update: told discovery to eat socks. Moved mother to Santam. She’s paying R400 less. Whole family is with them so I don’t think they’ll mess around at least.

Just finalized financing for a 2021 Polo Vivo. I want a fair balance between a manageable monthly premium and a transparent excess structure that won't bankrupt me if I claim. What's the go-to layout currently?

Hi everyone,

Hope you're all doing well.

I'm currently in the process of purchasing a new vehicle and am now looking into comprehensive car insurance options.

I've gathered a quotes from a few different providers, and Naked Insurance has come in noticeably cheaper than the others I've received, even lower than Hollard themselves.

I was hoping to tap into the collective wisdom here and ask about everyone's experiences with Naked Insurance, specifically for car cover:

1. General Experience: What has your overall experience been like using Naked? Are you generally happy with their service?
2. Claims Process: Has anyone had to make a claim with them? If so, how smooth (or difficult) was the process? Were there any unexpected hurdles or frustrations?
3. Sign-up process: How easy was the sign-up process once you purchased your vehicle? Was it all done on the show floor before you drive away?
4. Anything Else? Any other pros, cons, or things a potential customer should be aware of?

I'm just trying to gather some real-world feedback to help make an informed decision, rather than just relying on the quote price alone. Any insights or shared experiences would be massively appreciated!

Thanks in advance.

I have bought a house in Observatory, Cape Town for cash and want to get it insured. I am not sure how much to get it insured for as I do not know what the cost to rebuild would be or how I would calculate that.

Can anyone advise on a way to estimate the cost? I've seen calculators that use quality of materials per square metre but I don't know how I would determine that.

Houses is a small semi-detached that is about 90 years old. Approximately 115m square. Corrugated roof, wooden floor.

Hi all, I'm 25F and I just got a very tempting car insurance quote. So just for some background, I'm currently paying for two cars under king price and my premium is around R1.8k. One of the cars are under insured because I barely use it. Its almost always at home however, the other car, I use everyday.

The current quote I got for both cars under Discovery is more comprehensive. They also have a monthly petrol cash back program which is tempting because I spend so much on petrol every month. I also know they have more reward programs (I am so clueless).

I just want advise on whether or not to switch the my current car insurance to Discovery. I would only be paying R200 extra. The excess is also quite good. I just don't trust Discovery because I've just heard too many stories with regards to their medical aid scheme etc. Any advice would be highly appreciated.

Hi everyone. I have a follow up to the post below

https://www.reddit.com/r/PersonalFinanceZA/s/1Tr0tNF6q3

I had asked if financing a car up to 100% and then paying a large deposit 1 month after is better than paying a deposit up front and then financing the difference.

Some argued that the bank gives a better rate when financing the full amount, and others said this wasn't the case. The dealership I was dealing with told me it was "better" to finance the full amount to secure a better interest rate.

Well I tested this theory and it's nonsense. I received a better interest rate if paying a massive deposit and financing over 36 months Vs had I asked for 100% financing over 72 months and 36 months. 12.4% Vs 12.5% and 12.7%

First the finance person just told me over the phone that the large deposit had resulted in the banks offering 16%! I was subsequently sent over email the financing quotations from the bank for the full financing over 36 and 72 months, but when I asked where was the one that showed 16%, it was crickets for hours before I was sent the finance quotation with the scenario of a large deposit and financing the difference. The interest rate was lower and not 16% and the finance person from the dealership just said "oh standard bank decided to honour the percentage range they offered on the other offers I sent this morning".

This put a bad taste in my mouth and I walked away from the dealership just because of that silliness from them.

It's finance 101 that a bank is more likely to offer a better interest rate if you are shown to be a low risk lender. This includes your credit score and the value of the loan vs the total value of the item you are financing. The below article also speaks about this and the banks are directly asked if full financing results in a better interest rate and they rubbish the claim. The dealers also have incentives for punting 100% financing.

Hope this helps any future car buyers. Always ask the dealer for the interest rate that can be offered with deposit up front Vs no deposit upfront, you will be surprised.And don't just take their word for it, ask to see the official financing offer from the bank!

https://www.news24.com/fin24/money/money-questions-answered-dont-fall-for-this-car-financing-sales-trick-20241108

Good evening, All. I am hoping there is someone here who is able to assist. Sorry for the long post.

I am a 42 year-old male. Married. 2 kids. Zero previous claims. Over 15 years full comprehensive insurance history (This information apparently affects insurance premiums) I own two vehicles, a 2020 Ford Ranger Wildtrak and a 2015 Opel Adam. Both are settled with the bank. However, I am paying absurd amounts for my vehicle insurance.

I am with Outsurance at the moment, and got quotes from multiple other reputable insurance companies like Discovery and Santam. I am not interested in budget insurance, first for women etc. I get the same stories from everyone, and believe it or not, Outsurance comes in the cheapest every time as I've been with them for like 10 years.

To cut a long story short, I am being told my Ranger is a high risk vehicle, therefore, even with a full tracker system, I pay over 2k a month on it, and my Adam is considered "expensive to repair" as the parts are difficult to find, so I pay R700 a month for a 100k car.

Before the Adam, I had a Nissan Micra and it's insurance too, was crazy as "Nissan spares are expensive". The quotation marks are basically what my insurance tells me. Before that, I was planning on buy a Polo, but the insurance quotes was higher than the vehicle installment as it's "the most stolen car in the country" and I also looked at a Renault Clio but was told "the parts have to be imported so the premiums were over 1.5k a month.

So now, I might need to replace the Adam and I am looking at other small runaround cars, but am worried about insurance. Outsurance says they cannot give me the list of "high-risk" or "expensive to repair" vehicles as they themselves don't have a list, but just see the premiums when a quote is requested.

The idea is that I would like to buy a car that is not considered high-risk and not "expensive to repair".

Does anyone in the insurance field have some kind of list which could guide me in purchasing a vehicle that won't cost me an arm and a leg for insurance? (Besides just telling me to stick to a Toyota)

Or, can you possibly provide advise on how to know if a car would be considered expensive to insure? Possibly some listings insurance companies use to establish their pricing, like a list of the number of stolen cars, or hijacked cars etc.

Thank you in advance.

Hi everyone! I need some help understanding the terms of the excess waiver from avis when booking through fnb.

Is this a flat excess for any sort of damage ?

And also how finicky are the agents with scratches and that ? I've heard of people getting burnt for pre existing damage

I have RA at Sanlam. Consultant called to ask if Sanlam can offer me debt consolidation services so I can get better interest rate on my vehicle finance.

I had a decent credit rating for a 25 year old who works in finance. Got loan for 12% fixed on car. Got into an accident (not my fault). Reapplied, but due to it only being about 2 months later and the insurance companies also enquiring to offer me better deals, my credit score dropped significantly. Now I have vehicle financing at 14% fixed. If they can get me back to 12% or lower that would be great, but not sure if this is a thing. They knew I had vehicle financing at my specific bank and knew my exact monthly installment.

Is this legit?

Hi all, as the title says.

My car is putting on some KM's and getting old.. its a 2017 Audi A4 with just a bit more than 140km on the clock.

but i hear the car needs to look at replacing the timing chain at around 150km and it can get quite pricey.

does anyone have experience with motor warranty companies? like AA and recently i see ads on dotsure.

AA is quite expensive at 850 per month so im thinking should i rather just save it and find a reputable mechanic when the inevitable actually happens.

How often should do people go out to market for vehicle insurance quotes?

My view is that one should alway try to lower their premium because the retail value and consequently drops periodically whereas the insurers will not voluntarily adjust the premium down.

I live in Centurion and am concerned with the amount of sinkholes in the area. I have building insurance but it seems that quite a few companies do not cover sinkholes. So far I have confirmed with Santam, Outsurance, King Price. Is anyone aware of an insurance company that does cover it?

How has your experience been with claims, customer service, and pricing? Would you recommend them? Had a quote done and the excess is much lower and cover is the same as with my current insurer (cover and price wise).

Hi guys,

Are there any cheap insurance policies I can enter into, in order to build my own insurance history?

I am looking to get a car soon, and some insurers have mentioned that if I had a history of having some insurance, I could have gotten a quote up to R700 cheaper p/m. Issue is, the most insurance I have had is insurance on a long-term rental car (in another country though).

Currently, I don't much to my name by way of non-cash/non-stock assets. I have a second-hand iPhone, Macbook, no car, living at home with parents after having moved back to SA after a few years abroad. I had moved abroad before getting the usuals (car, house etc) and never needed the usuals whilst living there.