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 .