Sage Advice needed, car procurement

[UpNcOmiNg!]

Hi there guys.
As the topic states, I am looking for some advice with regards to purchasing a car.

I got the call today saying that Wesbank is willing to finance me, albeit that they ran the pre-approval on an Audi for R120k:yuck: witha 10% deposit.

That being said, I am looking to finance myself a decent car in motorplan.
The car will be a weekender, doing MAYBE 150-200k's MAX a week. I have an Opel Corsa utility that racks up the mileage in no uncertain terms.
I am looking to put down about R80k deposit on a car so as to keep installments to a reasonable about, at most R4k a month (works out to around R300k MAX, interest dependent).
I really want a Coupe/Convertible car, but just want some advice from some fellow fanatics as to what your cautions etc will be.
I dont want to just jump into debt, even though I am in a stable job (working for my father doing industrial waterproofing and opening a new co this year too.)

I am only 23, so insurance will run through the co with me as the primary.

Any advice will be much appreciated. :thumbs:

 

[CNBM]

e46 M3


end of thread

 

[AshG108]

you want a car with plan, then go for a 335i perhaps, the plan will be more fresh than the E46 M3, and buy your car wise, dont go for looks and speed and think later. learning that lesson is hard, rather do it now than later. you got enough bucks, dont go blast iton something that will loose plan early and then you will sit with the headache of paying and sourcing parts and stuff.:thumbs:

 

[moranor@axis]

taking out a loan on a second car you dont need is a huge waste of money... rather invest the cash you would have spent and buy a nice car cash when you can...

 

[Doomsdaya]

taking out a loan on a second car you dont need is a huge waste of money... rather invest the cash you would have spent and buy a nice car cash when you can...

+ 1000

No point financing a vehicle thats going to spend most of its days in a locked garage. If I were you rather buy a decent/clean e46 330i or an M3 for cash.

 

[Coisman]

imp:
Well, if Centurion Leo Haese is not to far from you, call them and ask to speak to Jason at the 2nd hand cars.
A month ago I was interested in a 2010 320d with 16k km's on the clock for R285k and motorplan till 2015, extendable to 2017.
Insurance will also be low, cause its not classed as a race car like a 335 or even a 325 would be classed.
If you dont want a diesel, then ask them what else they do have, or go on bmw.co.za and look whats available from the dealerships. :thumb:
Good luck.

 

[UpNcOmiNg!]

Thanks guys.
yes I have been thinking of saving for a bit and buying a car cash, but the point of me buying a car is becuase I want something that is new that I wont want to tinker with and make faster etc etc.
I want to buy something to satisfy me for a year or 2.

Thanks Cois. I will give him a call irrespective and see whats what.
I just got out of a 135i! Monsterous!!! :thumbs:

---

What are your guys feelings about auctions?
I LOVE The e46 M, I really really really really really really really do! :inlove:
But they are getting old now, only prob.

 

[Coisman]

imp:
bmw also have auctions... http://www.bmwfinance.co.za/auction.html?Link=link81 but you just missed out on it... :bangdesk:

 

[moranor@axis]

no reason to not save up for a new car...

work out how much extra you are paying for the car if you take out the loan then decide how much you need the car now...

 

[UpNcOmiNg!]

Yeah I saw, only 2 cars I would've gone for there.
335i and 330 cab. Mileage,price or car is jus off on the others

---

no reason to not save up for a new car...

work out how much extra you are paying for the car if you take out the loan then decide how much you need the car now...

This is true.
I have been itching for a decent car for a while now, the M5 was a dog, the e30 prior was troublesome and I think a new car will help just keep my motivation up somewhat, knowing I have something tangible to work hard for.

I do acknowledge your advice, and it is VERY VERY pertinent and true. Just dont know if I'm going to go that route or not

 

[moranor@axis]

but if you have the itch it can be baaad :rollsmile:

work out what car you can realistically afford if you save to say 3 years and compare it to what car you can get now on a loan it might help :rollsmile:

 

[UpNcOmiNg!]

Thanks for the advice bud, but on 3 years I am aiming to buys (and expensive 1s at that) CASH! :rollsmile:
Company opening this year which should be able to scratch any itch! :fencelook:

 

[NAEEM786]

My advice with a 300K budget would be to buy brand new, F20 118I or 120d. Full 5 year motorplan,current technology and hey new is new,

 

[UpNcOmiNg!]

Thanks chap. Bought a e82 2011 model 125i already. :rollsmile:
Looked at the new 1 and 1s for sale already, price dropped from 300k to R230-240k in a few thousand k's...
4 doors always depreciate quicker like this