SalomeCilliers Posted December 28, 2015 Report Share Posted December 28, 2015 (edited) Good day, A big problem for us at this moment we still have a very big amount to pay. I need some advise please for options to deal with this in the best way with out loosing alot... i dont know what to do if we get to immi what about the car. This time around i am more lost Please anyone that can help Edited December 28, 2015 by SalomeCilliers Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 28, 2015 Report Share Posted December 28, 2015 Hi Salome, You can use the below website to estimate what your car is currently worth. Then you can phone around and see what a dealer would offer you for the car. Not much can be done to minimize the loss but that's what happens when you sell any car really. A dealer will offer you considerably less than you could get in a private sale so use the below website so at least you have a realistic idea of what your car is worth. You can still sell it privately even though you owe the bank money. https://www.santam.co.za/calculators/vehicle-calculator/ 2 Quote Link to comment Share on other sites More sharing options...
0 mistermoose Posted December 28, 2015 Report Share Posted December 28, 2015 Great link there, Dave, thanks for sharing. Are you really able to sell your car while still owing the bank money? Don't you need the car's registration papers, which the bank would surely only release on settlement of the outstanding debt? If you're right, this is very good news for me, but I don't see how the bank would be protected in this case. Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 28, 2015 Report Share Posted December 28, 2015 Hi MisterMoose, If you have R50k owing on your car, and you sell it for R75k you would need to still settle the R50k owed before you transferred ownership to the new buyer. But you would essentially be using the new owners money to settle the outstanding debt with the bank. Depending on what you owe on the car you would either need to still pay in some money or you would be left with a surplus. Let me find some more links to help explain. Quote Link to comment Share on other sites More sharing options...
0 mistermoose Posted December 28, 2015 Report Share Posted December 28, 2015 (edited) Ah ok, if there's a surplus that makes sense. But there's no way to sell the car and then pay off the remaining outstanding debt (over the same time period) after the car has been sold? Edited December 28, 2015 by mistermoose Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 28, 2015 Author Report Share Posted December 28, 2015 Thank you, Would it be possible to sell the car to someone and pay a part of it on the car and use the other money to help to settle that side in AUSIE and then pay of the car from Ausie side. We need to get finances for everything and im afraid my husbands penion wont pay for everything that we need then. Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 28, 2015 Report Share Posted December 28, 2015 Hi Salome, No you would have to settle the debt in full with the bank, otherwise it's technically not your car to sell. What car is it and how much do you still owe? You could possibly get a loan from the bank to cover the shortfall of what you receive for the car. Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 28, 2015 Author Report Share Posted December 28, 2015 Hi Dave It is a Honda Accord 2.0L 2013 model only one owner.. We still ow alot.. Bud we ask for a settle amount.And they said R286 000 To be honest it was a big mistake to buy a new car bud we learned. Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 28, 2015 Author Report Share Posted December 28, 2015 Hi Dave I used the link Your car is worth R 259 350 Your estimate:R 286 000 The difference 26 650R You could be over insured Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 28, 2015 Author Report Share Posted December 28, 2015 Other car company said they can only over less then R180 000 because that is the book value on the Honda Accords. Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 28, 2015 Report Share Posted December 28, 2015 Hmmm that's a bugger. I would post it on Gumtree and Autotrader and see what kind of offers you get. Im sure you'll get more than the book value offered by the dealers. Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 28, 2015 Author Report Share Posted December 28, 2015 That is a good idea... And maybe i should talk to my Boss also because he is a Attorney.Maybe there is something we can do to help me out. Maybe we can get the settle amount to be less.. Quote Link to comment Share on other sites More sharing options...
0 EmNew Posted December 28, 2015 Report Share Posted December 28, 2015 Hi, You mention using your Hubby's pension money to fund immigration . Forgive the personal question, but did he get access to it all from a retrenchment process ? If not, and you want access to that money to take it out of RSA , then you have to go through financial emigration. One of the criteria for that is that you have no debts to settle still. Try webuycars.co.za too. They might give a price closer to settlement. Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 29, 2015 Author Report Share Posted December 29, 2015 Hi Emnew Thanks for the information.. Pension is our only hope to get a 189 Visa. We wanted to take the pension money,Then pay for the visa and plain tickets.My husband is 26 so the pension is not that much and i think because he takes it earlier it will even less. So we wont have much to take out of the country. Hope i can do it like that Thank you S Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 29, 2015 Author Report Share Posted December 29, 2015 Sorry and we have to pay Agent fee also hehe Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 29, 2015 Report Share Posted December 29, 2015 Salome, You cannot access your pension without resigning from your job. So that is not a viable way to pay for your visa costs. What career are planning on applying for under the 189 visa? Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 29, 2015 Author Report Share Posted December 29, 2015 My husband is a General Electrician working on a Mine Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 30, 2015 Author Report Share Posted December 30, 2015 Hai Dave Do you know maybe what the odds would be to get 457 sponsor Visa for a Electrician. We are confused again..We are trying to make best possible plans to Immi.Bud get dead Ends Regards Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 30, 2015 Report Share Posted December 30, 2015 Hi Salome, I don't know about the 457 visa, only that it's not really recommended considering you would qualify for the permanent residency visa (189) as an electrician. The 189 is the ultimate as you're permanent residents from the get go and can work anywhere in the country for anyone that will employ you. The 457 is far more limitations. Quote Link to comment Share on other sites More sharing options...
0 elleneo Posted December 30, 2015 Report Share Posted December 30, 2015 In your financial situation, I think a job sponsor is a good idea, apply for jobs and keep paying your car every month . Don't worry till u get to the point when u want to leave, by then the car may have a better debt to value ratio. Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 30, 2015 Author Report Share Posted December 30, 2015 (edited) Thanks Dave and Elleneo Would it make a big diff if my husband can do the IELTS test and then the Skill assessemt the free one on the Internet. To include with my Husbands C.V so they know a little more. Edited December 30, 2015 by SalomeCilliers Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 30, 2015 Author Report Share Posted December 30, 2015 It is the tradeset test on the Australian Goverment web. Quote Link to comment Share on other sites More sharing options...
0 DavePE Posted December 30, 2015 Report Share Posted December 30, 2015 Hi Salome, I'm not sure what skills assessment you're referring to that is free? For your husband to be assessed as an electrician for immigration purposes he would need to be assessed by VETASSES: http://www.vetassess.com.au/ They are the only assessing authority for electricians. Quote Link to comment Share on other sites More sharing options...
0 SalomeCilliers Posted December 31, 2015 Author Report Share Posted December 31, 2015 Hi Dave This is the one i talk about. I saw it on the VETTASSES as step one took me to this page. http://www.tradeset.com.au They said this part is free... think is just to see what you are capible of. Quote Link to comment Share on other sites More sharing options...
0 Odendaal Posted January 6, 2016 Report Share Posted January 6, 2016 Hi everyone, we are also in the process of selling our car. The settlement value is R 122 000 (Renault Sandero 1.6 Stepway 2014) and are looking at selling it for at least R90 000 because it is worth R130 000 and obviously the dealership needs to make its money as well. But that difference of R 32 000 is concening me... I'm hoping that I will not need to pay that all at once as was suggested in the other comments... I'm going to investigate this on Friday with the bank and the dealership and will hopefully have a better understanding of the available options by Monday. Will keep you guys posted. Quote Link to comment Share on other sites More sharing options...
0 Odendaal Posted January 11, 2016 Report Share Posted January 11, 2016 (edited) Hi all Ok so upon selling your car, you must settle the balance (if any) immediatly so that the new owner can be have access to the car's documentation which is of course kept by the bank. Options: 1) You can settle the balance cash. 2) Take out a loan from your bank (with interest of course) to pay off that balance over time. Edited January 11, 2016 by Odendaal Quote Link to comment Share on other sites More sharing options...
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SalomeCilliers
Good day,
A big problem for us at this moment we still have a very big amount to pay.
I need some advise please for options to deal with this in the best way with out loosing alot...
i dont know what to do if we get to immi what about the car.
This time around i am more lost
Please anyone that can help
Edited by SalomeCilliersLink to comment
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