callin_on_ya
New member
Hi everyone!! First time poster here and I was hoping to get some advice.
I recently purchased a brand new vehicle and received finance through VW financial services. I’m a first time buyer and was rejected for financing from major banks even though I have plenty of savings.
My current interest rate is 16.25% (I know it’s high) but I accepted it because I wanted the vehicle and figured that because I’m a first time buyer, I would probably have to accept what I get to build up my credit score further. As per the title, I have about 200k saved up split between an fnb savings account giving me 7.7% p.an and a Tymebank Goalsave that’s currently 7% p.a which could go up to 11%.
Did I make a mistake and where should I go from here?? If you suggest investing, please recommend good investment accounts.
thanks so much for the help and god bless!!
I recently purchased a brand new vehicle and received finance through VW financial services. I’m a first time buyer and was rejected for financing from major banks even though I have plenty of savings.
My current interest rate is 16.25% (I know it’s high) but I accepted it because I wanted the vehicle and figured that because I’m a first time buyer, I would probably have to accept what I get to build up my credit score further. As per the title, I have about 200k saved up split between an fnb savings account giving me 7.7% p.an and a Tymebank Goalsave that’s currently 7% p.a which could go up to 11%.
Did I make a mistake and where should I go from here?? If you suggest investing, please recommend good investment accounts.
thanks so much for the help and god bless!!