Buying my First car on Hire purchase

[Afande]

What are the disadvatage? Recommended a yard that can offer the same cheaply.

 

[mzeiya]

I think repossession is a big disadvantage if you're unable to pay the premiums. However, if you are not in urgent need of the car, perhaps save enough to import yourself?
That way, you'll not only get a better deal in terms of price but also verify the unit you get before it departs from the source market.

All the best though

 

[The.Black.Templar]

Go for it buddy, just make sure you pick a vehicle that will not take you more than 12 months to pay for it. Beyond that time frame, it is beyond your class

 

[Nameless]

Put all the terms in a contract that cannot be altered by either party. Some sellers are very conniving. Involve the bank too if you're on a salary

 

[kingolonde]

First things first, is it personal or commercial?
If commercial, follow advises given supra
If personal ask yourself a few hard questions
1. Is it necessary at this time?
2. Will it add value, eg, save you fare, time, and other inconveniences
3. If going for HP, are you taking a full loan, or do you have some savings which you will top up with the loan
4.What institution do you intend to get financing from, or if taking from a dealer, what are the terms, and do you have any previous working relationship at all.
Otherwise, on a very personal and probably narrow-minded reasoning, gari personal sinunui na loan.

 

[wrongturn]

1000 ways to die of stress. No need, too expensive

 

[shocks]

If you have other methods of financing, explore them first. Hata bank loan ni afadhali kuliko hire purchase due to the repossesion terms

 

[upepo]

What are the disadvatage? Recommended a yard that can offer the same cheaply.

Chukua gari alafu make sure umechukua a medical cover that caters for all ailments, including a heart transplant.

 

[zapp_brannigan]

Chukua gari alafu make sure umechukua a medical cover that caters all ailments, including a heart transplant.

What if ata medical cover is on ''hire purchase'' ? Kwanyitana orimwe

 

[kingolonde]

What if ata medical cover is on ''hire purchase'' ? Kwanyitana orimwe

Kindly log off and take some rest

 

[mzeiya]

OP soma thread

 

[bigDog]

What are the disadvatage? Recommended a yard that can offer the same cheaply.

The disadvantage could be the interest rate and exploitative terms. Hire purchase is generally more expensive than getting a loan. Look for hidden charges and legalese terms that might trip you down the line.

 

[Montecarlo]

What are the disadvatage? Recommended a yard that can offer the same cheaply.

In primary school you missed a session in B.E.D sio? Find out how much more you'll be paying for a car that will be generate no revenue for you vis-a-vis saving and buying one on cash basis