Think twice, and maybe even thrice...

I app**** with Planet42 and was approved for R130k. I was told that I would need to pay a deposit of R30k but, despite asking what my monthly installment on the car would be, was not informed of same .

I went to Planet42 at Menlyn yesterday, and am still shocked that people are buying into their "deals"

1. I was told that the R30k "deposit" that I am paying is actually an administrative fee and does not count towards reducing the value of the outstanding debt. So I'm literally giving them R30k for nothing.

2. My repayment would be R9500 a month for 60 months. So renting a car valued at R130k would actually cost me R540k+ to take ownership arter 5 years. That is just daylight *******. You would be better off saving R9500 a month for 18 months and buying a reliable car cash

3. I asked if it was possible to buy the car early in the contract, but the salesman could not tell me how much I would have to pay to settle the car after 6 months. I was told to buy the car, and then 6 months later give them a call to settle it, and then they can give me a settlement value.

I really encourage consumers to think twice before signing up. The monthly installments are just not worth it. And judging from the reviews I've seen here on the quality of the vehicles sold, I would seriously reconsider my options.