+ 120k Service Plan @ R10.374
+ 120k Maintenance Plan @ R16.951
= R161265
Not a cheap car. FYI Reason for the 120k stuff is because I do 100km per day so I will go through the mileage very quickly. Not really considering this Chinese thing just wanted to see what other forumites had to say. Like I said I hate buying cars...
thats a bit wrong - you dont need both - you chose between one of them - the service plan is self explanatory - the maintenance plan is the service plan plus it covers other items like windscreen wipers and brake discs etc which are not covered in the service plan - so its like an additional warranty on wear and tear parts - so you need to select one or the other
secondly - i found that either of those plans is hectically overpriced considering that the actual services have never been above R850 for my car and mine is a GTI - sure at service time there were other things like windscreen wipers and brake pads which drove the price i paid up a bit but by the time my car reaches 59995km and is due for the 60000km service i would have spent only R7k on maintenance - so yep by the time i hit 120000km im sure i will have reached that R16k total but you say you do loads of mileage so then your maintenance plan will be exhausted pretty quickly - my car will be 4 years old by the time i hit 60000km's so i expect 120000km's to take me around 8 years so that R16k spread over 8 years isnt too bad for me
so those plans may seem to have an advantage in that you are getting the HP to pay for them so you wont need ready cash at the service interval time BUT when you look at the interest rate the total you repay on that additional R16k for the maintenance plan is closer to R30k over the 5 years and you will probably exhaust the plan in two to three years (obviously depending how much your mileage totals up to) - so these maintenance plans are actually a load of bosh when it comes to a cheap car
the maintenance plans make more sense on cars like Beemers and Mercs which are R10k to service cos you have to things like replace brake pads every 15000km's etc - so IMHO for the VIVO you can drop around R27k off that total anyway - and pay for the services as required or get those done at a cheaper place than the agents - dont bother about resale value cos if you are going to put up a lot of mileage in the car then resale value in your instance with ANY vehicle is going to be absolute rubbish anyway
BTW im not recommending the VIVO because its not my favourite budget buy at the moment - im sure you can do better than that but when looking at the deal in total consider every aspect of the deal and the finance loan you are taking - all im saying is whatever you do and whichever vehice you decide on, dont tack on those service plans to the loan cos they land up costing double what the total maintenance would be if you paid cash for it
normally im the first person to say buy new but i do have a few friends who have bought second hand cars and have saved a fortune because of that so there is nothing really wrong with that idea if you do chose very carefully and get a decent deal - remember though in general nowadays cars are designed with planned obsolescence in mind so a second hand car is going to generally start costing more to maintain from the time its 5 years old or so so if you do go second hand it doesnt make sense to get something more than two years old unless you want to change cars every three years or so
..... which isnt a bad aim though considering that with annual increases etc you may be financially better off in three years time or maybe even in a better job which hopefully pays more
also chose your car very carefully one of my buddies neighbours got himself a volvo which he used till his service plan expired - unfortunately the bloke passed away so his widow inherited the car - so she was using it till it developed some sort of problem (i dont have the details of what this problem is) but apparently Volvo want R60k to fix it cos they cant repair the parts they have to replace so needless to say thats one useless car parked in a garage somewhere - so dont think that a big expensive luxury car thats cheap now cos it is old is going to be a second hand bargain - you could use it for a year or two and land up in a similar situation - if you do buy second hand then stick to the simpler cars cos repair work will be generally cheaper ..... just IMO
one last opinion to add here - you cannot go wrong with Toyota or VW in respect to the paragraph above because new parts will always be plentiful as will second hand parts if something big goes wrong cos these cars are sold in bucketloads
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