The True Cost Of Credit | How Much Is Debt Really Costing You? | South African YouTuber

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  • Опубликовано: 10 фев 2025

Комментарии • 7

  • @emmanuelmufunda8693
    @emmanuelmufunda8693 3 года назад +1

    Quite an informative video.

  • @rufarosihle1
    @rufarosihle1 3 года назад

    I love this video! Thank you so much. I have a question, what are some requirements needed for one to qualify for a home loan or car loan?

    • @LetsTalkPersonalFinance
      @LetsTalkPersonalFinance  3 года назад

      I think the two main requirements are affordability (having a steady income and enough disposable income that will then go to repaying the car/ home loan) and creditworthiness (you will typically need to have a good credit score inorder to prove that you are a dependable person to lend money to who will pay your repayment installments on time). Having a good credit score also helps you get a lower interest rate.

  • @Di-influence
    @Di-influence 3 года назад +1

    Thanks for the info, if you do not mind me asking how did you buy the property under a company, was it a existing company or was it specifically created for property buying, it’s advised to buy under a company but i don’t know where to start, please help I am thinking of stating a business for property buying reasons, my problem would be the company would be new with zero balance (No Financial History) please help

    • @LetsTalkPersonalFinance
      @LetsTalkPersonalFinance  3 года назад +2

      Hey👋 , we opened the company for the sole purpose of buying the property. Our company has no financial history and the bank evaluated my brother and I to see if we qualify for the loan in our personal capacity since the company on it's own had no income at that time. You can just register a company at the CIPC website.

    • @Di-influence
      @Di-influence 3 года назад

      @@LetsTalkPersonalFinance - Thank you so so much, I will do that