First time car buying/financing mistakes TO AVOID

[Ntombelarsure-dbyl]

Being a CA doesn't mean you must drive a big car one day at my work place one of our clients who is a CA said exactly that he was driving Suzuki Swift hes the importance of the car is to take you from point A to point B not a status as you save your money for the most important things both him and his wife they professionals CA and the wife is a Medical doctor I was inspired thanks for this video because I was about to make a big mistake to buy the the car because ladies does not take serious a man who doesn't have a car and I'm losing my beautiful girlfriend because I don't have a car but after this video I will let her go and stay in peace.

[nfmatontsi]

I would like you to have or invite Musi Sambo on your show and talk about cars. It will be an excellent combination of knowledge.

[Roseofnomansland]

Hahaha. Nicolette, I'm a teacher and same age as you. You are spot on. I drive a sensible mini suv precisely because of the roads, it is fuel efficient and dealerships are all over the province.

No one will get you into debt like car dealership salespeople and estate agents. Keep on educating our youth. You are doing an amazing job. 💯

[mihlalipienaar]

I just think this video was made for me. I've been planning on buying a car but I don't think I'm financially ready for it or if I even need it. The pressure is coming from my family, my partner (he says it brings some sort of standard or isdima) and friends. I have a nice paying job, I'm 25, I'm renting and got 2 kids. Well I would afford it but it does not make sense for me to own a car before having a house. I work from home, my 1 child has transport to school and the other has a nanny. When I want to go out I request an uber. So thank you so much for this eye opening lesson. I try so hard to be money smart

[flowerchialde]

I've made some financial mistakes but listen I'm so determined to learn from them. I've been running away from financial knowledge (anxiety & insecurities about the bad decisions I made) I watched your episode from Yolz and you mentioned that you made bad financial decisions but you overcame them and you are where you are today because of them. That gave me courage to face my finances, so I'll be camping on your channel. Thank you so much for sharing this wisdom for free. I declare that I will have a healthy relationship with my finances amen.

[mapulalekganyane]

Thank you for sharing this important information Nicollete. I’m still shopping around for my first car and another important factor that first time buyers don’t take into account is the Linked and Fixed Interest rate.
For those who are not aware 1. A fixed interest rate does not change for the duration of your payment period and therefore gives the security of a fixed monthly instalment and 2. A linked interest rate is linked to the prime lending rate so when it increases so does your monthly instalment. But… the Fixed rate usually has a slightly higher monthly repayment than a Linked one.

[mabuthomkhize]

When I bought my 3rd used car, I spoke to Wesbank for finance and they pre approved everything. So I went to pick up the car they finance department added extended warranty, smash and grab, paint protection and other additional extras that ended up adding around R30k. As a Mechanic I knew most these extras were already paid for by the previous owner and as I was walking away from the deal the salesman removed all extras and still tried to convince me to take extended warranty just to be safe incase something happens. I told the guy if something happens, which I still refused as for at least for a certain period they must honor what happens to the car provided its not damage from my side. And besides that taking the warranty was gonna force me to service at dealerships which I don't like cause this side they hardly know what they doing.

[nonzuzosangweni]

Nkosiyam am planning on getting my first car in November 2023 and I must say this video is very helpful…Am already trying by all means to have a perfect credit score so nje I believe that am in a right track🎉

[nnakaralebipi]

Planning on buying my first car Jan, this has really been helpful. I once went to a dealership and the imposter syndrome got to me and almost bought a car I could not afford 💔 I managed to get out because they didn’t have the cars so I had to wait. Ended up not getting it but used the months to budget better, so research and come to terms with the fact that buying a big car will make me look good, but financially it will hurt me. Thanks so much, as I work harder on the imposter syndrome.😂

[mrsspringbok]

When you said, driving to the airport and start leaking oil😂😂that hit home…lol Nicolette that’s exactly what happened to me, last year. Even missed the flight 😅😅but hanging on to it until I can afford a better car…I refuse to fall into the trap ya bad debts😅😅😂😂😂😂

[tmw]

omg i love her😂❤ about to buy my first car and this was the first video i watched. Thanks girl for the advice🙏🏾💕💕 u had me smiling the whole video😂 such an amazing personality🫶🏾🫶🏾

[lindagqabaza]

Musa ukudakwa...love that. Thanks Nicolette for the education

[chantehennessy]

My sista, thank you for talking to me. There are so many factors to consider and thank you for making it a point not to take the first deal that comes your way. I will shop wisely now....

[nduduzophila]

The "musa ukudakwa" part send me straight to subscribe button 😂

[goodenoughcele]

I agree with you.There is a friend of mine who bought a bigger car out of pressure from his baby mama.He obviously didn`t afford the car.He traded in his paid up polo.He also had to borrow some money(loan) to pay for the deposit.

[christopherpila]

The day I subscribed to your channel back in 2019 was one of the best decisions I made, I managed to get out of debt, have a great emergency fund, life policy and working on my retirement annuity. Now the focus is on getting a car.

Your videos go a long way and of great value keep up the good work.

[Lokaluna]

Just as I'm about to purchase a car BOOM you pop up on my timeline 🎉

[dreamchaser]

I'm sure all most of us made that mistake when they bought their first car. I always laugh at my statement and be like wow , how did I end up going for 72months (that's paying more interest) but I was smart enough to pay it quicker, and all the accessories that I didn't need ? Bhod kesana! Thanks Coco once again for exporting all that financial knowledge and lessons learnt coz tis the season where people will be pressured in to getting into all these dodgy deals coz salesmen want to push their targets. Know your credit score and and don't be swayed into buying for more than you had budgeted for. The prime lending rate keeps nyisaring us this side

[Noma]

A sister I wish I had❤ thank you for the lesson and the information😍

[Mayekiso_Athini]

Let me grab my pen and book
This is what I needed ❤️❤️
Thank you Sis