Auctions are typically associated with property or fine art, however, you can also pick up a good second-hand car at an auction. The first thing you need to know when buying a car on auction is that it is sold “voetstoots”, which means that you buy...
As people’s budgets come under increasing pressure, the number of people who can afford to buy new cars is dwindling fast. With banks financing two used cars for every new car purchase, the second-hand car market is booming. If you want to sell...
Lindi wrote to me looking for advice regarding her car repayments. She had fallen behind on her repayments to BMW Finance as her business was in financial difficulty. She wanted to find out if she could hand back the car to the financial...
If someone jumps a stop street and crashes into you, you could find yourself liable for damages. When Chantal’s car was written off by a driver who jumped a stop street she was confident that the driver’s insurance would cover the full damages to...
The fuel price increase on 1 April was unfortunately no April Fool’s joke. Motorists are now paying an extra R1.62 per litre of petrol, which means that if you fill up your 50-litre tank twice a month, you're now spending an additional R160 per...
By Nicholas Nkosi, Head of Vehicle and Asset Finance – Personal Markets, at Standard Bank It is natural to think about the joys of starting the New Year in your dream car when your bank account is filled with an end-of-year bonus. However, is it...
There are two major purchases you will make in your lifetime for which entering into debt can be justified: one is the purchase of property and the other is the purchase of a car. If you buy a car through bank finance, you will find that taking out...
Financial Planning Week: 25-29 August CERTIFIED FINANCIAL PLANNER® professionals Craig Torr, Paul Rossouw, Ian Beere and Laverne Slater will be giving four free financial planning workshops in Cape Town on 26, 27 and 28 August, as part of...
Insurers are becoming more enthusiastic about suing uninsured drivers to recover costs. If you are uninsured and crash into another vehicle causing damage amounting to thousands of rands, you are liable for those repairs. Even if the other driver...
With the price of petrol having reached record levels recently, carpooling is something you could consider as a means to cut your travel costs. However, if you do decide to carpool, you need to inform your insurer or broker immediately and find out...
There's a new car insurance product available which could offer a good solution for those who think they can’t afford to insure their vehicles. Soaring petrol and maintenance costs may drive you to reconsider taking out comprehensive car insurance but short-term...
There are ways to cut your insurance premiums as a young driver. Taking out motor insurance as a young driver can be very expensive, often making car ownership unaffordable. There are ways, however, to lower your risk and therefore your premiums. Gari Dombo, managing...
When it comes to motor insurance, you and your insurer each have certain obligations that you have to meet in order to render the insurance contract valid. As a policyholder, if you don’t hold up your end of the contract, you could find yourself without cover at a...
Leave the buying of new cars to people who don’t understand maths, or to those for whom status is worth more than building wealth In the book The Millionaire Next Door: The Surprising Secrets of America’s Wealthy, authors Thomas J Stanley and William D Danko studied...
It is important to review your vehicle insurance every year to insure that you have valued your car according to its replacement value. Insuring based on the replacement cost of your car not only saves you premiums but it is also important in the event of a write-off,...
Did you know that if your car gets stuck you can be fined for obstructing traffic, that having a sticker of another country on your car when crossing the border is illegal and using your fog lights on a clear day will cost you R500? The Automobile Association of South...
“I am 29 years old and I have managed to save R100 000 with which I was planning to buy a new car (cash). However I realised that the car I am using is still in a good condition and is paid up and I can still use it for 2 more years. I have a home loan but I do not...
Seeing tow trucks parked at my local intersection recently reminded me of a scam whereby tow-truck drivers dupe unsuspecting accident victims into allowing them to tow the victims' vehicles. The scam involves the driver telling you he will call your insurance provider...
South African consumers may be buying cars with alacrity, but the cost of running a car isn’t insignificant. With this in mind, Chris de Kock, executive head of sales and marketing at WesBank, has come up with some tips to help us all save on our monthly car expenses....
"A friend of mine bought a car and now he can’t afford the installment. Is it wise to take it back to bank or to a dealer and will he get something back?" asks Thabang Maya replies: It is very important that your friend sells the car rather than waiting until the bank...