In this video, Phumelele highlights big purchases and how to ensure that you can actually afford that brand new car you have always wanted.

Most South Africans cannot realistically purchase a car cash, so many of us purchase them using vehicle finance. Which is great, however, there are some points that many young adults, recent graduates and even seasoned professionals are not aware of; and that is buying a car on balloon. Always remember that “anything you buy on credit, is not your money. You must still pay it back. And if you can’t pay it back, the bank will take it back [repossess it]”. And if you need a balloon on your car, it means that you cannot afford it.

Your car should move you forward, not hold you back. Let us help you create a financial plan that keeps you in control of your money.

Contact us to save for a deposit for your car.