Wannabe Patrol 4.2 Pickup Owner...

[Russ Kellermann]

hahaha. Ja,.. i hear you pal.

Hang in there.

[SJC]

I need advise.. (Again).

There is 2 patrols i must choose between.

Option 1. - R150k
2007 patrol 4.2, 200k km, no canopy, no towbar, no aircon, spare wheel is not original patrol rim, no service book, ex-telkom vehicle, have not been able to orginise someone to view vehicle tor me. I like the 2007 pickup seats.
Positive is that a can load value of extras to the buying price. this option would suite my short term cash flow better. I would be able to add value of towbar, cattle rail/canvas canopy, & tyres to the buying price. Vehicle is with bank approved dealership.


Option 2. - R175k*
2008 patrol 4.2td, 200k km, canopy, towbar/onca rear bumper, aircon, 5 original patrol rims,(4+spare), Fsh, bosch multi point check done on vehicle, 2 people viewed it for me and approved.

Catch is this: seller will let the vehicle go for R130k, but because vehicle is on dealer stock of non bank approved dealership, the banks will not finance it. Unless i get a personal loan.

I can get a personal loan from nedbank: R120k, 22% interrest. Pay R10k out of my pocked to make up R130k. I would have no spare cash left for decent tyres or any other extras.
*This according to my calculations would more or less equal (in monthly repayments and total loan paid), to a vehicle finance amount of R165k + R10k deposit, in other words R175k for 2008 patrol pickup.

[120k @ 22% = R3815 p/m, over 60 months, total of R228k. Plus 10k = R238k
165k @ 13% (estimate, might get 11%) = R10k + R3836 p/m over 60 months = R230k + R10k = R240k.]

What to do....?

Edit: typo, changed R2815 to R3815.

[Alex Roux]

Hi Fanus

If I were you ( and I must confess I have not read the entire thread), I would not buy either currently, unless you absolutely need the bakkie right now.
Unsecured lending is bad news. The 22% interest will be like an Albatros around your neck for 5 years. (The bank will double up on their money, 120,000 versus 238,000)
If you can wait a while, rather put that same about in the bank for a year or two. A bigger deposit will make the world's difference to your cashflows.

Edit: Just the calcs myself:
Borrowing 120,000 at 22%, the monthly repayment is 3,182 (excl. extras like that the typically unnecessarily expensive life insurance - and which you can re-broke elsewhere anyway).
Times 60 gives you 190,959. I would still not do it. Also no warranty on it, unlike new cars. So if the car breaks down, the payments continue.

[hugejp]

Gattabattata!

22% is net pure malgyd.

Die compound interest gaan jou slag buddy.

[SJC]

Ja, 22% is baie hoog. Die R3815 is die paiement wat nedbank my gekwoteer het. In realityd is dit seker nog hoer as 22%, na al hulle admin fooie, cover protect, ens bykom...

Sal dit meer realisties wees indien die verkoper die prys met nog R15k kan laat val? Of sal dit nog steeds n slegte koop wees?

Ek dink R130k is nie n slegte prys vir hierdie voertuig nie, maar die rente gaan my dood maak.
Soos ek gese get die paiement gaan omtrent gelykstaande wees aan n voertuig van R170-175k. (Volgens my skatting).

En ek sal ononderhandelbaar, n meganiese waarborg moet uit neem. Wat nog n paar duisend, R4-R7k?, sal kos.

Dis n moeilike een...

[Peter Connan]

My persoonlikke opinie: as jy geld moet leen om 'n tweedehandse kar te koop, kan jy nie daai kar bekostig nie.

Hou aan die werk se bakkie ry, en spaar laat dit bars!

[Russ Kellermann]

I'm kinda staying out of this one,... but i will say this:

Costs on patrols dont stop at the dealer. Maintenance on the Diesel bakkie will take you by surprise. Even if you not servicing at Nissan Dealership, any regular home service costs alot more than your normal 1tonner.

Engine takes over 10Lt of oil.
Gearbox and transfer take different oils so you in for both.
Rear axle takes LTD Slip oil , you need 5Lt , its not cheap like normal diff oil, its costly.
Front axle another 5 lt drum of regular diff oil

Rubberising / coating another R1500 at least,... which needs to be done cause nissan paint is thinner than a ball hair. (one thing i HATE about my patrol)

Tyres are big bucks and with a 2.5Ton vehicle (empty) you need good tyres that last. Good tyres cost alot, ie: BFG = R16k for 4,...


This was just to give you an idea of running costs. Of course, diffs, G/Box and T/case dont need to be done every service but it is Standard Practice for most to do this after purchasing a second hand vehicle , so as to ensure its longevity and minimise any earlier abuse, should there have been any/ lack of servicing.

Fuel is also a bitch,.. expect 6-7.8km / Lt... depending on how tuned your motor is , how heavy you loaded and what application and where... IE: Highveld will drain you of even more fuel due to altitude effect on power,..and so on etc etc...

[SJC]

My persoonlikke opinie: as jy geld moet leen om 'n tweedehandse kar te koop, kan jy nie daai kar bekostig nie.

Hou aan die werk se bakkie ry, en spaar laat dit bars!

Ongelukkig kan ons almal nie voertuie kontant koop nie.

[Peter Connan]

Ek kan ook nie meer nie, die dat myne 19 jaar oud is... En ek moes 'n paar jaar lank spaar voor ek 'n ordentlikke kar kon koop ook.

Al wat ek se is, die rente op 'n huurkoop is so hoog dat dit meer sin maak om 'n paar jaar vas te byt en te spaar lat dit bars...