Auto Advice Topics
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- AutoAdvice
- 56703
Here is some useful information on how to sell your car privately. We can break the process down into three sections: Preparation, Marketing, and Conclusion.
Let's start with preparation.
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- AutoAdvice
- 71153
1. Phone first and confirm all the details in the ad are correct. Focus on year model, engine size, exactly which model (GL, GLS etc.), Extras, Mileage. Save a copy of the actual ad. Check the prefix of the phone number. Stay away from dubious areas.
2. Make an appointment to view the car. Take someone with you who knows about mechanical things if you don't have the knowledge. Don't appear to be over eager to the seller.
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- AutoAdvice
- 47635
How can I check to see if a car has ever had a major insurance claim or if there is an outstanding ISA agreement on it?
The HPi check is a national vehicle database run by Transunion - the same people that publish the Auto Dealers Digests. It will tell you whether there are any outstanding Instalment Sale Agreements on the car; whether the car has ever had a major insurance claim; been written off; been scrapped; or been stolen; or stolen and recovered. It also logs progressive/sequential dealer inquires where mileages are noted. It will confirm that the engine, chassis and registration numbers are correct as well as the year of first registration.
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- AutoAdvice
- 19850
Before the National Credit Act in June 2007, almost 85% of all cars were financed. The NCA changed that dramatically. For the first six months of 2007 the figures reversed themselves with almost 85% of cars sold being for cash. That figure is slowly changing as finance houses and the public are becoming accustomed to the NCA.
The big difference now is that your affordability is based on disposable income, whereas before it was based on your gross salary. There is a far greater focus on responsible lending. All the finance companies, with the possible exception of MFC, have seen a huge downturn in sales since June 2007.
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- AutoAdvice
- 38441
Here is a brief overview of some of the new legislation and how it affects buyers and sellers alike. There were three acts promulgated in parliament during 2007.
- FICA (Financial Intelligence Centre Act)
- FAIS (Financial Advisory and Intermediate Services Act )
- NCA (National Credit Act )
What is the difference between these acts?
- FICA - Fica is about protection against money laundering and tax evasion in SA
- FAIS - Is about consumer protection on insurance products and to enhance integrity of that segment of the insurance industry.
- NCA - Is about consumer protection in respect of finance agreements and to make credit available to all South Africans