“ Having a car loan harms you when applying for a mortgage ”

Are you considering an auto loan? You might want to think again. Africa Melane interviews financial planner Gerald Mwandiambira.

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South Africa has decent roads but lacks a good public transport infrastructure.

Many South Africans therefore choose to buy their own vehicle, which is usually debt-financed.

The pandemic has led to a marked increase in home loans as auto financing is in the doldrums.

Africa Melane asked financial planner Gerald Mwandiambira for advice on comparing a car loan to a home loan.

If you’re considering buying a home, you might want to consider going without a financed car, advises Mwandiambira.

Image credit: prostooleh (123rf)

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Listen to the interview in the audio below.

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