A Code 3 Car in South Africa
What does a code 3 Car mean in South Africa?
Code 3 – Permanently Unfit For Use
Code 3 vehicles are Code 1 or Code 2 vehicles that have been involved in an accident and which, according to the insurer, is so badly damaged that it is not worth repairing. To the insurance company the cost of fixing the damage would amount to more than the car’s value at that particular time.
Code 3 vehicles are usually sold for a lot less than Codes 1 and 2 cars. Is it a good idea though to invest in a Code 3.
Can you insure a Code 3 vehicle?
Quite often it’s possible to get a Code 3 car at a very reasonable price but insuring it can be more expensive than you anticipated. This article should have help you get cheaper and full value car insurance for a Code 3 car.
What is a code 3 license in South Africa?
Three types of learner’s licence are issued: Code 1: motorcycles. Code 2: vehicles (except motorcycles) with tare weight of 3,500 kilograms or less; minibuses, buses and goods vehicles with GVM of 3,500 kg or less; and articulated vehicles with GCM of 3,500 kg or less. Code 3: all vehicles (except motorcycles).
Can you finance a Code 3 vehicle in South Africa?
A code 2 vehicle can be financed, once repaired. However, a code 3 vehicle cannot be financed.
