Big Purchases

Big Purchases

 

Buying a car
Once you've passed your driving test, you'll want to get your own set of wheels. Before you rush out, do some research so that you don't financially over-extend yourself? Consider the following before you commit yourself:

  • How much can I afford?
  • Can I afford to maintain this car?
  • Will I buy a new or used car?
  • How much is my total cost including insurance, payments and maintenance?
  • Am I buying from a dealer, private sale or an auction?
  • Did I get the vehicle inspected before making a decision to buy?
  • What are my financial options – High purchase, balloon payments, etc.?
  • What insurance do I need – comprehensive, balance of 3rd party, etc.?
  • How will I maintain the car – motor plan options and noting the high maintenance costs of older cars?
  • What does the fine print say on the contract?
  • Should I buy on fixed or linked interest?
  • Am I buying with a residual payment?
  • How can I reduce my insurance?


    How much can you afford?

    Insurance – comprehensive, balance of 3rd party, etc.


    Buying a house

    Buying your first home is both exciting and nerve-wrecking. It is a major decision that takes planning, research and careful budgeting. Some questions you should consider are:

     

    Am I ready to buy?

    How much can I afford?

    How do I find the right property?

    What are the initial costs?

    What sort of insurance would I need?

    Am I buying sectional title or full title?

    What are the maintenance costs?

    Should I buy or rent?

    What are all the costs involved in buying a house?

    Is there a rent to buy option available?

    Does 'shopping around' for a bond affect my credit rating?

 

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