HEARD on the street
Consumers are increasingly signing up for longer car finance agreements, stretching to as much as 72 months or six years, according to the latest statistics from the National Association of Automobile Manufacturers of SA.
Wessel Steffens, head of Absa’s vehicle and asset finance division, notes that the main driver behind this trend is affordability.
If you are applying for car finance, remember an increased loan term may make your monthly repayments more affordable, but this also increases the interest you pay in the long term.
If you need to stretch your car finance agreement to more than five years to reduce your monthly repayment, then this is a red flag that you are buying a car you cannot afford.
Social media has become such a big part of our lives that you might not think twice about posting details regarding an upcoming holiday. However, recent research by The Co-Operative Insurance in the UK shows as many as 78% of ex-burglars revealed that social media was increasingly being used to target homes to rob.
Remember that any information you post on social media, such as Facebook and Twitter, is immediately in the public domain.
You wouldn’t hang a sign outside your home telling people that your home is unoccupied, so don’t do it on social media either.
Amanzingwe Holdings, a company that operates a conference centre and hotel, was recently ordered by the Pension Funds Adjudicator (PFA), Muvhango Lukhaimane, to calculate the arrears contributions due to the Consolidated Benefit Provident Fund and make such payments immediately.
The fund complained to the PFA after Amanzingwe Holdings did not pay contributions on behalf of staff from August last year to January this year.
If you are contributing to a pension or provident fund via your employer, the onus is on your employer to ensure all contributions are paid to your pension or provident fund timeously.