96-month vehicle finance … welcome to repayment hell

  • 📰 TheCitizen_News
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

We’re now in the era of 30-year home loans and four-year smartphone contracts.

Car, home, smartphone – this is not a great time for those with a fear of commitment or tight budget. Image: Shutterstock

However, vehicle finance contracts on offer from banks can now stretch to as long as 96 months .Balloon payments aren’t allowed on finance terms longer than 84 months and these are only available for vehicles less than two years old.Capitec highlights an “extended loan term of up to 84 months to pay” via specific partners . Its vehicle loan differs from standard vehicle finance options as “the loan is unsecured, meaning that you own the vehicle from day one”.

Some networks even offer 48-month contracts these days. An Apple iPhone 15 Pro Max 256GB on Vodacom’s Red Core 6.5GB Plan + 200 minutes top-up contract costs a whopping R110 less per month on the longer term .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in BUSİNESS

Business Business Latest News, Business Business Headlines