East Coast Radio - Catch Up Consumer Hacks with Wendy Knowler

Before signing that car deal, ask these questions

Loading player...
Buying a car is one of the biggest financial commitments you'll make, so go in with your eyes open. Loan terms typically run 60 to 72 months — a longer term lowers your monthly instalment but significantly increases what you repay overall.

Always ask for the total repayment figure, not just the monthly number.

Missing payments damages your credit record, and early settlement may carry costs. Crucially, the instalment is just one line item — insurance, fuel, maintenance, and tyres are non-negotiable running costs.

Before signing, ask:
Is the rate fixed or variable?
Is there a balloon payment?
What's the total repayment?
What are the early settlement terms?
Can I genuinely afford this vehicle?
12 Jun English South Africa Education · Self-Improvement

Other recent episodes

Never say "yes, that's my debt"

A debt collector phones about an old account you'd forgotten. Before you say a word, work out when you last paid anything on it, or when you last admitted it was yours. If that's more than three years ago, and nobody ever served you with a summons, the debt has…
25 Sep 1 min

Check the name on the ticket. Every letter

Brett of Durbanville watched his son be refused boarding at check-in because his surname had been left off his ticket. The travel agency couldn't fix it there and then. Their only option was to buy a new ticket, which meant paying for four more legs at double the original cost…
24 Sep 1 min

That “diagnostic fee” has to be flagged first

Kyle of KZN handed in his drone for a quote. He heard nothing for over a week, then discovered it had already been shipped off to a third party for repair. When the invoice came and he said no thanks, he was told he owed them a diagnostic fee. Nobody…
23 Sep 1 min

The price on the shelf is the price you pay

Some shops add a fee when you pay by card, or refuse card payments under a certain amount, such as R50. The National Consumer Commission is warning traders, spaza shops in particular, that both are unlawful. Section 23(6) of the Consumer Protection Act says a supplier may not require you…
22 Sep 1 min

Too small to fight is not a thing

When a company owes you a few hundred rand and simply stops replying, most people give up. That's what they are banking on. A Cape Town doctor who lost R680 on an undelivered food order went to the National Consumer Commission and was told her amount was too small. It…
21 Sep 1 min
All episodes