Guiding consumers since 2009

Credit crunch claims cars

By Staff Writer

Cars sacrificed as repo rate bites

From Dispatch.co.za 

Auctioneers are reporting a "marked" increase in the number of repossessed property auctions as the interest rate rises start to bite consumers. And auctioneer Dennis O'Connor said there were about 50% more repossessed vehicles when viewed against last year's figures.

South Africa's largest vehicle financier, Wesbank, reported in April that car repossessions went up to more than 1000 per month for the first quarter of 2008, an increase of 67% from 2007.

Justmoney.co.za says:

With the crunch kicking in nobody wants to lose their car. There are a few things that can be done. Firstly check all your bank accounts, your savings accounts and credit cards to see if they are providing you with value for money. Check to see if you can consolidate your debt, so that you can avoid needing debt management. Review your vehicle finance and your vehicle insurance and streamline your financial commitments.

Recent Articles

Featured Personal loan or business loan? The best way to finance your business

When starting your own business, you may have to rely on external funding. Perhaps you qualify for a personal loan, but would it be better to take out a business loan instead? We got in touch with a specialist to find out whether it’s best to take out a business loan or a personal loan to assist you with your ongoing business or start-up.

What to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?

Best travel cards offered by top South African banks

Planning a trip abroad involves a lot of administration. You need to consider travelling arrangements, reasonable accommodation, and a daily itinerary. But have you considered how you’re going to pay your bills once you arrive? Besides considering bank costs, you also need to consider exchange rates.

Best ways to save your money short-term

For many, it seems close to impossible to save when spending on holiday getaways, Christmas gifts, while also trying to ensure there’s money left to survive January. Justmoney takes a look at the best ways you can save during the short term.

Deals

Takealot January Big Sale

Price: Available on request
When: Until 31 January 2020
Where: Online

Annique Restore Package Special

Price: From R600
When: Until 31 January 2020
Where: Centurion

Ster-Kinekor Senior Citizens Discount

Price: Available on request
When: Daily
Where: Nationwide