Help: Finance for a 2000 BMW Z3 M Coupe

[OOONYIGP]

Hi fanatics,

I have found my dream car, it's a 2000 BMW Z3 M Coupe Imola Red and I would like to finance it, let's say over 36 Months. I am battling to get finance from the major banks as they finance vehicle up to 10 years old.

Please assist

 

[RAArmstrong]

Chat to Motorlease, they're a forum advertiser :thumbs:

 

[OOONYIGP]

I've tried motorlease but they only finance vehicle from 2004 to current.

 

[RAArmstrong]

Damn

 

[Peter@AEW]

At the risk of being to forward what happened to "I am willing to pay cash"?

 

[OOONYIGP]

Other people have advised me to take a second bond or personal loan but that doesn't sound like a really good idea to me. I am really confused now

---

At the risk of being to forward what happened to "I am willing to pay cash"?

:nonono:

You are to forward cause things didn't work out the way I planned hence why I need to finance the vehicle

 

[Peter@AEW]

Apologies for being "too forward".

As to you taking a second bond it is a ridiculous idea and whoever was the author of it should at the very least be sent back to school......grade 1 preferably.

Have you tried the AA...I seem to recall them advertising that they will finance cars beyond the 10 year threshold.

 

[ChefDJ]

MFC?

 

[OOONYIGP]

Thanks guys, I will try AA & MFC

 

[Kish2604]

I remember seeing a flyer at a dealer where nedbank would finance older cars up to 100k in value, can't confirm if the rates weren't a rip of though...

 

[zabbo]

The Nedbank deal is a kind of a personal loan structured for cars AFAIK

 

[DROP IT - ZN]

The Nedbank Auto account will finance upto a 20yr old vehicle upto a max of R120 000, however its got to be done via a dealership whos an accredited Nedbank Merchant

The easiest option will be a personal loan with decent interest rates which can be had from 10%

 

[gconry18]

I had the exact same problem with the M5. No one would touch it.

Not MFC, Motorlease, banks or similar.

Personal loan or drawing out of a bond would be easier.

 

[Jiggy]

+1 Personal loan...

Got to your main bank and NEG a better rate... Just have the discipline to pay it back sooner so you don't loose out on interest!

BTW - where did you find the car? That is the best colour is by far!!

 

[Sabretooth tiger]

Only MFC or African Bank will finance cars older than 10 years. African Bank will ask you stupidly high rates.
MFC will do it, if through one of their dealers, will also be a higher than normal interest rate.

Personally not a fan of taking out a extra bond for a car, in the end if you calculate the car, how much does it actually cots? And in my book, I am trying to pay my house off, dont want to prolong it.

 

[DROP IT - ZN]

Stay away from African Bank if you want affordable finance

 

[Legacy]

Honestly just get a personal loan. ABSA in particular offer personal loans of around R130k for about 12% pa. IF (and it is a big if) you manage to get finance for the car I doubt you will get less than 12% even if you pay say 60% deposit. If you have a small deposit you can bargain on up to 15.5% pa.

 

[Jiggy]

Honestly just get a personal loan. ABSA in particular offer personal loans of around R130k for about 12% pa. IF (and it is a big if) you manage to get finance for the car I doubt you will get less than 12% even if you pay say 60% deposit. If you have a small deposit you can bargain on up to 15.5% pa.

100% agree.

 

[OOONYIGP]

+1 Personal loan...

Got to your main bank and NEG a better rate... Just have the discipline to pay it back sooner so you don't loose out on interest!

BTW - where did you find the car? That is the best colour is by far!!

I found the car at Melrose Arch and it is owned by a lady and it's in good condition.