Patchelicious Posted January 9, 2018 Share Yup, I reckon it has to do with the security of the loan. Car can always be sold to recover some of the debt, a bankrupt business with a desk and 2 PC's are not even worth the effort of the auction. Even personal liability is not always worth the paper it's written on if the director has nothing.You would think so, but I was recently offered an unsecured personal loan (unsolicited, I did NOT request it, nor have I ever been a client of this company, whole different argument) for an amount more than what my car is worth. In theory I could "afford" the repayments (some hubbers seem to think that if you can scrape together the repayment you can afford it), but that would mean I have no savings and less disposable income, in practicality I couldn't afford it. Its gross that people are tempted with this "easy cash".... Edited January 9, 2018 by Patchelicious Letum911 1 Link to comment Share on other sites More sharing options...
Bloukrans Posted January 9, 2018 Share You would think so, but I was recently offered a unsecured personal loan (unsolicited, I did NOT request it, nor have I ever been a client of this company, whole different argument) for an amount more than what my car is worth. In theory I could "afford" the repayments, but that would mean I have no savings and less disposable income, in practicality I couldn't afford it. Its gross that people are tempted with this "easy cash"....Some people accept this easy cash or even worse, support Trump???? Patchelicious 1 Link to comment Share on other sites More sharing options...
Mongoose! Posted January 9, 2018 Share I know myself and i would just end up putting the money into my house bond. Were the other half is already going.Alternatively ask 11 other Hubbers to start a stokvel with you... Make sure you the first person to receive the pay out... Edited January 9, 2018 by Mongoose! peetwindhoek and Patchelicious 2 Link to comment Share on other sites More sharing options...
BigDL Posted January 9, 2018 Share Financing everything, like it or not, is a way of life for many people. Just speak to your payroll team about the number of garnishee orders that come in for people at all levels in SA. We lived in Midstream back in the day. Half my mates would calculate everything they looked at by the monthly payments if they put it on the budget facility on their credit cards. They saw nothing wrong with it and it isn’t my place to judge whether that is right or not, but it wasn’t unusual. When I suggested putting a bicycle on my credit card, my wife put me straight pretty quickly. I see it regularly here as well. Staff maxed to the limit but still buying ok credit and calculating the affordability based on the monthly cost. Who knows if this is wrong or right, but it is common. GrumpyOldGuy 1 Link to comment Share on other sites More sharing options...
Shebeen Posted January 9, 2018 Share Oh come on people, stop trying make this binary again. Financing a car you cannot afford is silly, but financing a bicycle you cannot afford is sillier. +100% Patchelicious 1 Link to comment Share on other sites More sharing options...
ChrisF Posted January 9, 2018 Share I know myself and i would just end up putting the money into my house bond. Were the other half is already going. thus you already have a kitty ..... paying interest on a "HP" will always be more costly than paying your bond (in the same time period) That said .... many brand new 2017 models should be on special in the coming weeks as the shops make way for the 2018 models .... VERY tempting time to buy !! have I mentioned that Danie at Cycle4Life has some NICE bikes .... (waars daai draadborsel icon) Link to comment Share on other sites More sharing options...
ChrisF Posted January 9, 2018 Share You would think so, but I was recently offered an unsecured personal loan (unsolicited, I did NOT request it, nor have I ever been a client of this company, whole different argument) for an amount more than what my car is worth. In theory I could "afford" the repayments (some hubbers seem to think that if you can scrape together the repayment you can afford it), but that would mean I have no savings and less disposable income, in practicality I couldn't afford it. Its gross that people are tempted with this "easy cash".... like a youngster that buys a car for which he can hardly afford the payments, actually borrows a few bob from daddy for the deposit (daddy really should have known better ....) two months later he encountered some "unplanned expenses" ... had to get a lift to work for the rest of the month as he litterally could not afford petrol to drive 6km to work .... and a few months later he was looking at buying a bike on finance !!! the mind boggles ..... not to worry, I grew up in a different era .... was taught : SOS ! SaveOrStruggle BigDL 1 Link to comment Share on other sites More sharing options...
Patchelicious Posted January 9, 2018 Share like a youngster that buys a car for which he can hardly afford the payments, actually borrows a few bob from daddy for the deposit (daddy really should have known better ....) two months later he encountered some "unplanned expenses" ... had to get a lift to work for the rest of the month as he litterally could not afford petrol to drive 6km to work .... and a few months later he was looking at buying a bike on finance !!! the mind boggles ..... not to worry, I grew up in a different era .... was taught : SOS ! SaveOrStruggleThat was me once. As a youngster I started a company with somebody, we did well, I financed a ton of stuff, massive credit cards.... then the good times dried up... when you go through the humiliation of having car repossessed, one learns what “I can afford” really means. Edited January 9, 2018 by Patchelicious BigDL and Heel Drop 2 Link to comment Share on other sites More sharing options...
eddy Posted January 9, 2018 Share Oh come on people, stop trying make this binary again. Financing a car you cannot afford is silly, but financing a bicycle you cannot afford is sillier. +100%Surely you mean +1100100% ? Edited January 9, 2018 by eddy Patchelicious and peetwindhoek 2 Link to comment Share on other sites More sharing options...
Odinson Posted January 9, 2018 Share So you okes are telling me that I made a mistake financing a sweet 2018 Totem 29" XC440 Frs (R 1,999) through Makro Credit at 28.5% p/a over 60 months?! I think it should be worth it when I cross the finish line at the Cape Epic on this beast. Edited January 9, 2018 by Odinson BigDL, Vetseun and peetwindhoek 3 Link to comment Share on other sites More sharing options...
ChrisF Posted January 9, 2018 Share So you okes are telling me that I made a mistake financing a sweet 2018 Totem 29" XC440 Frs (R 1,999) through Makro Credit at 28.5% p/a over 60 months?! I think it should be worth it when I cross the finish line at the Cape Epic on this beast. I would PAY to see the faces when you BEAT some wallet-racers in the Epic .... Link to comment Share on other sites More sharing options...
Patchelicious Posted January 9, 2018 Share I would PAY to see the faces when you BEAT some wallet-racers in the Epic .... What’s a wallet racer? Link to comment Share on other sites More sharing options...
Mongoose! Posted January 9, 2018 Share So you okes are telling me that I made a mistake financing a sweet 2018 Totem 29" XC440 Frs (R 1,999) through Makro Credit at 28.5% p/a over 60 months?! I think it should be worth it when I cross the finish line at the Cape Epic on this beast. Congrats with the new bike man.Please post a picture.Hope you have many happy miles on it. Odinson 1 Link to comment Share on other sites More sharing options...
Odinson Posted January 9, 2018 Share ongrats with the new bike man.Please post a picture.Hope you have many happy miles on it. Thanks, 'Goose! I wanted to post a couch pic, but when I put her down on the couch cushions, the front wheel tacoed and the left crank arm fell off. She's back at Makro now, with the Executive Bicycle Technician taking care of her. Hope to have her back and ripping up the trails by the weekend. Edited January 9, 2018 by Odinson Patchelicious, Mongoose!, Coolspin and 2 others 5 Link to comment Share on other sites More sharing options...
Mongoose! Posted January 9, 2018 Share Thanks, 'Goose! I wanted to post a couch pic, but when I put her down on the couch cushions, the front wheel tacoed and the left crank arm fell off. She's back at Makro now, with the Executive Bicycle Technician taking care of her. Hope to have her back and ripping up the trails by the weekend. BhwahbhahahahahA Link to comment Share on other sites More sharing options...
Shebeen Posted January 9, 2018 Share So you okes are telling me that I made a mistake financing a sweet 2018 Totem 29" XC440 Frs (R 1,999) through Makro Credit at 28.5% p/a over 60 months?! I think it should be worth it when I cross the finish line at the Cape Epic on this beast. Horses for courses. If you were unemployed and living month to month. And used it to start a business, or save on taxi costs for commuting. then it could be a wise financial decision. Link to comment Share on other sites More sharing options...
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