vehicle repayments
If you know your workplace value, be sure to negotiate a market-related salary. Remember, many of your employment benefits – including your pension fund contribution, group life cover, income protection benefits and bonuses – are linked to your income, so
Remember, while your residual payment is used to reduce your monthly repayments, it still forms part of your loan agreement. So, if you want to pay off your vehicle quicker, the settlement agreement will include the residual amount.
While young and in the process of building wealth, it is essential to protect one’s greatest asset – your income. Your income allows you to service your debt, maintain your standard of living and fund for your retirement years.
