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Insuring your financed car

Did you buy a car with finance? Then this episode’s for you. Wynand van Vuuren and Sakina Ntuli decode credit shortfall, an industry term for the not-so-fancy gap between what your car’s worth and what you still owe the bank. Here’s the tough stuff: Let’s say your financed car gets hi-jacked, stolen (this is SA, after all), or written off after you hit a pothole the size of Sabie (don’t worry, we love Sabie 😉)... Your insurer pays out the retail value, but the bank still wants their full cut. If that value is less than what you owe (which it usually is, thanks to depreciation), you’ll be coughing up the difference. And sadly, it’s not small change. Just think of the Rands that could’ve gone towards school fees or a much-needed holiday! That’s where credit shortfall saves the day (and your bank balance). Knowledge = power. (And peace of mind.) Let’s protect you from that kind of financial drama, the royal way. #WowKingPrice #MakingADifference #KingPriceInsurance #UnapologeticallySouthAfrican