Honestly, its better to drive a cheaper car and have more disposable money and money to save. There are more important things to do in life than just driving a beautiful car while you are depressed because of the cost. Great video.
You can make an extra income by doing stand-up comedy, a very good narrator. A piece of advice to anyone who might come across this comment, never agree to dealership arranging finance on your behalf. Approach the bank directly, your interest rate will always be atleast -3.5% of what the dealership is offering.
I like the way you narrated your story to the end. This is exactly what most of us fear to go through in buying these cars as much as we want to own them. 😢
You can renegotiate your finance deal with the bank, or look for cheaper insurance, limit the distances you travel. You can trade in for a cheaper car but the Ballon will remain, there's no need to feel depressed, you have a nice car just manage your finances it's not the end of the world, we soldier on bro.
I stumbled across your video and I wanted to add my 2 cents for what it's worth. I've read the Uber comments, which is a viable option to remake the money or to alleviate the cost of the car, however it's a risky income stream. If you use your normal comprehensive insurance and do Uber, but something happens to the car (God forbid), the insurance company will look for every possible way to not pay out the car. And now you'll be paying R8k without a car, which is not very smart. If you decide to add ehailing insurance to the car, it will be much more expensive compared to your normal insurance as there are more possibilities of the insurance paying out especially with Polo's being hijacked. The wear and tear on the car will be faster meaning you will also have to now service the car more regularly, which will eventually lead to servicing it out of pocket. The reason I know this is because I was in the exact same position as you. In 2021 I bought a 2018 polo vivo at 142K on a 11K net salary (Sold it after 9 months and luckily my shortfall was +-R350, because the mileage was still low. couldn't afford to drive it a lot lol), so I understand the qualifying and affording aspect that you started off the video with. My 2 cents to you is to find out how much your settlement amount is for the car, and try to sell it before it's too late. Minimise the loss you are going to take, but at the moment you're going to be taking a loss worth half a mil (excluding insurance, fuel, maintenance and license renewals) if you decide to keep the car for the duration of the term. Don't care about status, because at the moment you're paying R8k a month for it, and it's depressing you. Bare in mind you still have other commitments to fulfil, so don't let 50% of your salary go to a depreciating asset. It's probably your first new car, and it most certainly won't be your last, because they produce new cars every single year. I hope this helps my brother!
Thank you brother your advice is very helpful to me. It’s my first car indeed, you know I was tempted and I felt for it. I was searching the uber process it’s seems complicated but selling the car back is the priority. I really fell in love with the car for the next six months I just want try and run out options than I sell it.
Just to add on @Ntsika has said, if you consider the selling option don't take the first offer the buyer is giving you, try and approach many dealerships as you can and if whatever they offering you don't be afraid to walk away and lastly we know how convenient having a car is if you thinking of selling and getting oner one like downgrade don't consider a trade in they will low ball you. But all the best bro you will be good
@@anelemakhaba9478 Or he could just dump his wannabe influencer girlfriend. It's funny how most men will blame the system, corporations, Jews, Black people, government, instead of admitting the obvious, that their women are the problem. I don't care how much you make, as long as you have a woman, you will live beyond your means. Most of my friends make 5-6 times what you make, but they are just as broke. Besides all the R1000s you spend on her per month. A woman would make you see the need to live in Kyalami, and eat Woolies, unprovoked. I'm sure even buying that car, he was just trying to impress her. Get rid of the girl (who is prolly the source of all his depression), get a flatmate in Midrand. He will comfortably ride his Polo off to the sunset.
Ola bro. Take the car back, it's expensive. Buy yourself a tazz and save more money. I'm a South African staying in Germany and I'm driving a toyota corolla(run x in SA) it is 18 years old with 64 000 km and I bought it for R100 000( 5000euros). Now it has a year and it has never given me a problem. My bank account overflows. I'm saving lot of money every month. Imagine with the installment you're paying every month if you can be saving it every month for 5 years.Dont live to impress, be yourself and drive a car that can make you save more money. All I can say buy a tazz and save more money. Danko. Watching your show from 🇩🇪 🇩🇪 🇩🇪
Danko ! Brother I have given myself six months to try and change my life around if I fail I’m selling it and I’m going back to public transport. Shoutout to you brother lapho 🇩🇪🇩🇪🇩🇪
Danko ! Brother I have given myself six months to try and change my life around if I fail I’m selling it and I’m going back to public transport. Shoutout to you brother lapho 🇩🇪🇩🇪🇩🇪
LOL! A Toyota Tazz hell no 😂 why not buy an affordable car with at least an airbag, electric windows, etc …since you like VW and having said you would afford Polo Vivo so why not buy pre-owned Polo Vivo with better features than Toyota Tazz otherwise Tazz takes you back to 90s, cars without electric windows and proper acorn
Same here, I bought a Polo vivo 2013 model back in 2016 for R90 000, it had 71000kms plus a small ding on the bonnet. Today it has more than 326 000kms and still going strong. I enjoy every moment of owning a paid off vehicle that was not a pain to pay.
You're brave to be so honest on such a public platform, my guy. You deserve the likes and subscriptions. Mara my guy, you and your partner need to balance each other. You can't both be trying to keep up with the Motsepes. One of you needs to be good with money if you're going to be successful (and you have to listen to that person)
Thanks for your honesty. Buying a brand new car these days is not feasible. The cost of living is climbing every day. I hope you find a solution to your situation.
Did I just see 17.25 percent interest rate? 😅 Wow that's one hell of a salesman! Kudos to you for openly admitting that you made a mistake. Hopefully look into other sources of income or get a better paying job, but those things are better said than done. Alternatively consider someone who is looking for a car who can takeover your car payments and keep going with them, giving you a fresh-ish start. I almost made the same mistake. I'm glad I ended up going with a 2021 polo. I can see that I would be crying had I gone for that newer 85kW beast I test drove
A Polo TSI is no longer an entry level car. That’s why VW introduced the Vivo, which now retails for close to 300k and it’s a disaster. I don’t know why they killed the VW Up because it would be perfect for this economy.
Thank you for sharing your story in an honest and open fashion. I think it is really brave of you. It really saddens me that a lot of institutions (banks, car dealerships, credit facilities, etc.) will give people what they want, knowing full-well that people couldn't afford (qualifying vs affording are different things, as you mention). I am shocked that vehicle finance is 17%. Thats not far from credit card interest. If you don't need a car (i.e.: you can get to work with public transit, and you don't need to drive to clients and/or there is a company car, etc), don't buy one... rather save and invest as much money as you can. If you do need one, try get something more affordable.
U and I earn the same ....got me a demo Vivo comfortline ....and had a test drive on the polo life ....the ride is basically the same ....glad I didn't fall for buying the life
@MuziSambo please feature this guy on one of your videos. we really learn a lot from such content and you guys are really appreciated. Thanks for enlightening the upcoming car buyers Mr Sipho Mdluli
This is why I watch Muzi Sambo. He teaches us these things. I don't think it's too late to sell the Polo my guy. Move smart 💪 and please reduce the music volume. I kind of find it hard to hear u half the time 🙏
The ballon payment part was so funny (I didn’t know it but it sounded good)😂. I’m glad you learned and share with us to learn ❤. I’m driving Chery QQ that kinda embarrasses me but I’m grateful I’m not in any debt. Danko.
Get your car registered on bolt or indrive (prefer bolt) and use the rush hour times in the morning and evenings to take people on rides. I don't want to say much but trust me you will make the extra cash you need just driving around your car. 100% worth it , speaking from experience . Goodluck, make more informed decisions next time, use that engineering critical thinking that is instilled in you.
Real tough but so are you, unfortunately this is one of the best ways to learn “qualifying and affordability”. Hang in there you will come out on top champ.
Lesson learned, don't go into the car with sales person. Noted. Let them stand outside, when they do applications, communication of repayment be at home and think. Noted
Great honest video man!!! Thanks for bringing the financial facts to life We love cars a little bit too much in SA, especially a Polo (I have one, so Im a hypocrite already). But is it worth our financial futures?
Yerr bra, how did you get so deep in this dept. You were very far from affording this car. Anyway experience is the best teacher. I feel for you. Been there before, although in my novice years, i went for the cars I could afford. I bought many cars before even financed but never ever included balloon. Good luck and thanks for sharing.
You would have been fine and little happier in a previous model Vivo, that car is fuel efficient and the running costs would have been bit lower, but there is still hope, you can always go and refinance the car with another bank, which will reduce that 17,5% madness of interest, another option is to drive around Sosha or Eldos 😂 then it becomes an insurance problem
Bro I subscribed to your channel because of your honesty. We really need to do a lot of such videos'. The fact that you reveal your salary makes us to really understand why we do not move forward as black people. Coz now a person will know that if i am earning 20k i cannot be going for such a car. so other youtubers are not real as you are coz you broken down why this amount is not affording such car by showing us the deductions that one experience before even starting to pay the car instalment. Thank you bro🙏
Let’s discuss how car buying in SA is such a scam. So I also want a Polo and I have been saving up for the past 8 years to buy on a small salary. To date, I have saved almost R200k. I went to VW to get a quote, and the financing deals I was offered: R200k deposit, 15,38% interest, no balloon. R200k deposit, R70k balloon, 8,28% interest. WHAT??!!! My credit score is 679 which is considered very good. It literally will work out cheaper to get a personal loan from private professional banking and buy it “cash” and repay the personal loan. It really is a scam
I have subscribed. See now you have a motivation for to work hard. Bra its about the motivation. See you already started with youtube. I got a new job and business for my polo TSI everything is balancing. Dont limit yourself keep your polo and make more money
That is why I am better off with my used Audi A4 bought in cash, I feel cozy inside it and ready to modify it where need be. I have peace of heart every month end. I only worry about petrol money. I have full ownership and am able to do other things.
I might have a solution if you are open to it. 1.since you are an industrial engineer you qualify for a young professionals account with standard bank and absa. With this account your private banker will get you low interest. 2.shotlist cars under 260k With a young professionals account your interest will be lower meaning your installment on a 260k car without a balloon will be anywhere from 5.1k to 5.8k 3.find out what the settlement amount is for your current car.Once you know the settlement go to reputable dealerships and try and sell that car for Close to your settlement amount. 3.1 if you love vw trade in your car for an amount close to your settlement So that your shortfall is reduced and than get a vivo demo it should around the 260k budget. Shop around don't take the first offer you get. 4. If you buy a swift,baleno,i20 pre owned or demo ,i10 pre owned or demo at the budget of 260k , cause they not high risk your car insurance will be less however they don't retain value like other cars in the long run.
1. I am in the process of switching over to the young professional account but the process to be finalised Monday. 2. This sounds interesting and I am considering it. 3. I will check up this will all be done in the next six months since that my target date to turn this around. 4. I was thinking of trying out the Ford Figo since you can get a pre owned around 150-180k pre owned.
Go for a Young professional Account, I am on the Standard Bank one, And I am paying less than than what people are paying for Vivos, The trick is shop around, and take your time, don’t be in a rush, compare prices and choose the least price. Negotiate both the price from the dealers and also the negotiate the interest rate with the Bank
Sales personnel will use the brand against you, The more appealing the brand is, the more tricks they'll use even on entry-level specs plus risks management associated with certain car models. You'll get 17 to 19% interest, ect... go to lesser car brands and negotiate, you'll see!
17% interest this means you had a very bad credit score, u were supposed to patient and grow your credit score to be over 650 points, i got mine financed with ABSA with an interest rate of 11%, my point is bad credit score higher interest but good credit score lower interest i hope you get it
The intrest rate of 17,5% was were I would draw the line you got convinced into taking a bad deal. So here’s my take, as you go on in your life, your priorities may change or have different interests, for example if you and your trusting girlfriend decide to have a child you will struggle just to breathe or alternatively just like most SAs you one day want to start your personal business/investments you won’t even have any cash injection for that idea of yours. Problem with cars is that 6years its a long time to pay for a car while you might have to put your life on hold. I say make peace and downgrade. Know that one day when everything is aligned you might find yourself affording an even better car. Good luck my guy
You know a Kia Rio would offer the same comforts, infotainment system nd aesthetics at a lower price. About 250K which is not that bad compare to the polo
Tough times never last my brada, ithi ngi’zame and subscribe 😂 Nathi siphuma ku ma balloon payment - I absolutely DO NOT recommend, if you can’t afford a car and need to add a balloon payment to afford the monthly repayments just let the car go honestly. I was so traumatised I’m probably gonna drive my car until I die! It’s fully paid now but I can’t imagine going through the financing process again - my hope is to get hit by a car and claim RAF so that I can drive my dream car 😅
😂😂😂😂😂😂😂😂😂😂😂😂😂 to be hit by a car yoooh that’s some plan you got there. They already have a backlog of 175000 applicants who they still need to pay But a plan is a plan 😂😂😂😂😂😂😂😂😂😂
If these no other solutions just park the car while you are paying it you will use it only for necessary reasons U will save on petrol money which might cover other expenses and when the car is parked u pay less on insurance
Dead at "1 of my girlfriends" 🤣! Hard luck Buddy but thank you for sharing the information so we don't fall into the same trap. Subscribed so I guess sibawu300 ku-R600K 🤭
Once you buy a car at an auction, you will never set foot in a dealership! Decent cars, some fairly new at decent prices! Black South Africans really need to emancipate themselves. Even companies that assemble cars are great to buy from since their employees lease them, then return them to be sold quite cheap. There really is no need for people to be buying depression and an early grave just to be seen in the streets and at work
Bro get rid that car, with R17K net salary its not worth it. A financed car in general is not a good idea with that salary. but there's an alternative if you still need a car, i noticed you are using standard bank and you are an engineer. You qualify for a young professionals account and it comes with the benefit of low interest rate (prime -0.25%), other banks have the same scheme which might offer a better rate. With this info, also look at getting a cheaper car (if you really need it) preferably under R150K or spend less than 20% of your salary on your car installment without a balloon. bro you need financial freedom, and TBH the polo community is not one of the things you don't need to worry about. you might get a shortfall for selling your car but at this stage you have projected a net negative to your financial year which will get worse and affect your mental health more. you have acknowledged a problem - don't live with it, deal with it.
Young professionals account I wasn’t familiar with it but sounds amazing. I will call the bank Monday to check if I can get one 🫡. Thank you this has given me hope.
@@Sipho.mdlulicheck with other banks too, I know absa and fnb have good rates too. And I’ve heard investec has the best interest rates for young professionals accounts
My guy, what was your credit score when you applied for this car? I want this car and I am applying for a job that will give me 25k to 26k net pay, however I am looking in the used market, and my driver's license is 6 months old
I have never in my life bought a brand new car even though i can afford to. I still have my Honda Accord i bought in 2011, a Isuzu bakkie in 2017 and recently i bought a polo 2014 at a vehicle auction cash. I own all of my cars not a cent owed to banks. I look at people driving brand new cars and i always wonder how do they afford these cheap qaulity expensive cars 😂😂😂
My brother, do you offer middleman services helping people to buy cars? I personally don't have the time and energy to search for a good car which is why we immediately think of dealerships. If you do, that would be really helpful. Thanks
Jokes aside, there are people who actually do this🤣😭. You can't opt to be broke just because you want to be seen in a nice car. It's not worth it and people don't care.
So you are, keeping your 🚙 because you don't want to lose your status, that's sad because you live are living in a ABS position so you care about what people will say, but have you thought about how will it effect you in the future and on purchasing anything. Because Because living with the fear of what will people say 😔😔 because at the end of the day people have something to say
Thanks for that it’s true, I will eventually have to sell the car but firstly I need to do everything I can to save it I have given myself six months to try and turn my life around if all fails I sell the car
@@Sipho.mdluli you can use your,car on weekends as Uber or you can do a transport sceme. I 🙏 that everything goes well on your side, and hope if you decide to sell your car you don't incounter a shortfall. I hope when you bought your car you bought it at a fixed interest rate I believe in you and I know for the fact that you won't fail😃😃😃
Even if your take home was R24K, You had no business buying that car. R8k 😩 and that excluding petrol and insurance, what about rent, black tax, grocery 😭😭😭
Mina m earning less than R10000, i don't dream owning a car that i can't afford, currently m m doing a jetta 3 project n m not in a hurry so for now old skul will do for me, especially if you have family it's worse so askis bro live by ur affordability u not in race but but marathon i hope you get a solution asap
![[ ออกกอง ] วัยหนุ่ม 2544 โลกหลังลูกกรง..ทัวร์กองถ่ายหนังใน "คุกของจริง" | JUSTดูIT.](http://i.ytimg.com/vi/vB--aOkZCpw/mqdefault.jpg)
Honestly, its better to drive a cheaper car and have more disposable money and money to save. There are more important things to do in life than just driving a beautiful car while you are depressed because of the cost. Great video.
You can make an extra income by doing stand-up comedy, a very good narrator. A piece of advice to anyone who might come across this comment, never agree to dealership arranging finance on your behalf. Approach the bank directly, your interest rate will always be atleast -3.5% of what the dealership is offering.
True I hope everyone out there can see this massage and follow it up but it’s got some power
This is true. I cannot see how one would agree to that 17% worse variable. They did him dirty.
I like the way you narrated your story to the end. This is exactly what most of us fear to go through in buying these cars as much as we want to own them. 😢
Thank you 😊! It’s pretty scary to buy a car in our days
You can renegotiate your finance deal with the bank, or look for cheaper insurance, limit the distances you travel. You can trade in for a cheaper car but the Ballon will remain, there's no need to feel depressed, you have a nice car just manage your finances it's not the end of the world, we soldier on bro.
Thank you man this means a lot to me I’m already on the process of renegotiating I’m still waiting for the lander to make a decision about it
@Sipho.mdluli you can also switch ur car to another bank and negotiate a better fixed rate
Fixed rate is the best. That 17% was daylight robbery.
I stumbled across your video and I wanted to add my 2 cents for what it's worth. I've read the Uber comments, which is a viable option to remake the money or to alleviate the cost of the car, however it's a risky income stream. If you use your normal comprehensive insurance and do Uber, but something happens to the car (God forbid), the insurance company will look for every possible way to not pay out the car. And now you'll be paying R8k without a car, which is not very smart. If you decide to add ehailing insurance to the car, it will be much more expensive compared to your normal insurance as there are more possibilities of the insurance paying out especially with Polo's being hijacked. The wear and tear on the car will be faster meaning you will also have to now service the car more regularly, which will eventually lead to servicing it out of pocket.
The reason I know this is because I was in the exact same position as you. In 2021 I bought a 2018 polo vivo at 142K on a 11K net salary (Sold it after 9 months and luckily my shortfall was +-R350, because the mileage was still low. couldn't afford to drive it a lot lol), so I understand the qualifying and affording aspect that you started off the video with. My 2 cents to you is to find out how much your settlement amount is for the car, and try to sell it before it's too late. Minimise the loss you are going to take, but at the moment you're going to be taking a loss worth half a mil (excluding insurance, fuel, maintenance and license renewals) if you decide to keep the car for the duration of the term.
Don't care about status, because at the moment you're paying R8k a month for it, and it's depressing you. Bare in mind you still have other commitments to fulfil, so don't let 50% of your salary go to a depreciating asset. It's probably your first new car, and it most certainly won't be your last, because they produce new cars every single year.
I hope this helps my brother!
Thank you brother your advice is very helpful to me. It’s my first car indeed, you know I was tempted and I felt for it. I was searching the uber process it’s seems complicated but selling the car back is the priority.
I really fell in love with the car for the next six months I just want try and run out options than I sell it.
@@Sipho.mdluli I hope this TH-cam option works out. Subscriber 75!
Just to add on @Ntsika has said, if you consider the selling option don't take the first offer the buyer is giving you, try and approach many dealerships as you can and if whatever they offering you don't be afraid to walk away and lastly we know how convenient having a car is if you thinking of selling and getting oner one like downgrade don't consider a trade in they will low ball you. But all the best bro you will be good
@@anelemakhaba9478 Or he could just dump his wannabe influencer girlfriend. It's funny how most men will blame the system, corporations, Jews, Black people, government, instead of admitting the obvious, that their women are the problem. I don't care how much you make, as long as you have a woman, you will live beyond your means. Most of my friends make 5-6 times what you make, but they are just as broke. Besides all the R1000s you spend on her per month. A woman would make you see the need to live in Kyalami, and eat Woolies, unprovoked. I'm sure even buying that car, he was just trying to impress her. Get rid of the girl (who is prolly the source of all his depression), get a flatmate in Midrand. He will comfortably ride his Polo off to the sunset.
Ola bro. Take the car back, it's expensive. Buy yourself a tazz and save more money. I'm a South African staying in Germany and I'm driving a toyota corolla(run x in SA) it is 18 years old with 64 000 km and I bought it for R100 000( 5000euros). Now it has a year and it has never given me a problem. My bank account overflows. I'm saving lot of money every month. Imagine with the installment you're paying every month if you can be saving it every month for 5 years.Dont live to impress, be yourself and drive a car that can make you save more money. All I can say buy a tazz and save more money. Danko. Watching your show from 🇩🇪 🇩🇪 🇩🇪
Danko ! Brother I have given myself six months to try and change my life around if I fail I’m selling it and I’m going back to public transport.
Shoutout to you brother lapho 🇩🇪🇩🇪🇩🇪
Danko ! Brother I have given myself six months to try and change my life around if I fail I’m selling it and I’m going back to public transport.
Shoutout to you brother lapho 🇩🇪🇩🇪🇩🇪
LOL! A Toyota Tazz hell no 😂 why not buy an affordable car with at least an airbag, electric windows, etc …since you like VW and having said you would afford Polo Vivo so why not buy pre-owned Polo Vivo with better features than Toyota Tazz otherwise Tazz takes you back to 90s, cars without electric windows and proper acorn
Tlangelani tshika ku xisa xisa mfana lweyi hi tazz 😂😂😂
Same here, I bought a Polo vivo 2013 model back in 2016 for R90 000, it had 71000kms plus a small ding on the bonnet. Today it has more than 326 000kms and still going strong. I enjoy every moment of owning a paid off vehicle that was not a pain to pay.
Almost 700k for a polo is nuts. 😭🙏
At least we learn from our mistakes and other people's mistakes.
You're brave to be so honest on such a public platform, my guy. You deserve the likes and subscriptions.
Mara my guy, you and your partner need to balance each other. You can't both be trying to keep up with the Motsepes. One of you needs to be good with money if you're going to be successful (and you have to listen to that person)
I will improve my financial knowledge
@@Sipho.mdluli wishing you the best, king
Thanks for your honesty. Buying a brand new car these days is not feasible. The cost of living is climbing every day. I hope you find a solution to your situation.
Damn! More people like you should come out and speak about the debt crisis caused by owning an expensive, it is totally not worth it.
Yeah but it’s not easy it’s like walking around naked after revealing this
The way you narrate 💯💯💯, I enjoyed this video
Did I just see 17.25 percent interest rate? 😅 Wow that's one hell of a salesman!
Kudos to you for openly admitting that you made a mistake. Hopefully look into other sources of income or get a better paying job, but those things are better said than done.
Alternatively consider someone who is looking for a car who can takeover your car payments and keep going with them, giving you a fresh-ish start.
I almost made the same mistake. I'm glad I ended up going with a 2021 polo. I can see that I would be crying had I gone for that newer 85kW beast I test drove
"mr debt, the walking debt machine"🤣🤣🤣
😅😅
This got me laughing untill i started coughing😂
R8000 for an entry level Polo. Thats depressing indeed
Lapho there's no sunroof yoooh 😔😔😔.... sosha yenze I Uber straight😅😅😂😂.... subscriber no. 67
😂😂😂😂😂 I am looking into that possibility
Uber Black... One time
A Polo TSI is no longer an entry level car. That’s why VW introduced the Vivo, which now retails for close to 300k and it’s a disaster. I don’t know why they killed the VW Up because it would be perfect for this economy.
Thanks bro for sharing. I almost made the same decision. I can afford Swift, but I love the Baleno GLX. Please, down grade, there’s no shame
Thank you for this my brother, your honesty has saved me from making a very bad decision.
the narration is killing me 🤣 "sibawu3 ku-R10" 😂😂😂
🤣🤣🤣🤣 I will make a video of me in the taxi
Thank you for sharing your story in an honest and open fashion. I think it is really brave of you. It really saddens me that a lot of institutions (banks, car dealerships, credit facilities, etc.) will give people what they want, knowing full-well that people couldn't afford (qualifying vs affording are different things, as you mention). I am shocked that vehicle finance is 17%. Thats not far from credit card interest. If you don't need a car (i.e.: you can get to work with public transit, and you don't need to drive to clients and/or there is a company car, etc), don't buy one... rather save and invest as much money as you can. If you do need one, try get something more affordable.
I’m going back to public transportation I don’t wanna be stuck with payments
Lol you sounded broken from this expirience bro. Glad you came out stronger and now you teaching us. Giving back to your people
U and I earn the same ....got me a demo Vivo comfortline ....and had a test drive on the polo life ....the ride is basically the same ....glad I didn't fall for buying the life
Yooh tell me about it
@MuziSambo please feature this guy on one of your videos. we really learn a lot from such content and you guys are really appreciated.
Thanks for enlightening the upcoming car buyers Mr Sipho Mdluli
Danko
"one of my trusted girlfriends" This is a polo driver through and through🤣
😂😂😂😂
This is why I watch Muzi Sambo. He teaches us these things. I don't think it's too late to sell the Polo my guy. Move smart 💪
and please reduce the music volume. I kind of find it hard to hear u half the time 🙏
I will improve my sound thanks it’s went out of control
The ballon payment part was so funny (I didn’t know it but it sounded good)😂. I’m glad you learned and share with us to learn ❤. I’m driving Chery QQ that kinda embarrasses me but I’m grateful I’m not in any debt. Danko.
That a flex ❤️❤️ don’t be embarrassed as long it functions great doesn’t stuck out of nowhere you’re good
I am watching this video every time I think of a polo 😂😂😂😂😂😂
Get your car registered on bolt or indrive (prefer bolt) and use the rush hour times in the morning and evenings to take people on rides. I don't want to say much but trust me you will make the extra cash you need just driving around your car. 100% worth it , speaking from experience . Goodluck, make more informed decisions next time, use that engineering critical thinking that is instilled in you.
Thank you 👍👍👍 I am in the process of doing my Pdp so I will start the process of registering Uber
Real tough but so are you, unfortunately this is one of the best ways to learn “qualifying and affordability”. Hang in there you will come out on top champ.
Lesson learned, don't go into the car with sales person. Noted. Let them stand outside, when they do applications, communication of repayment be at home and think. Noted
Great honest video man!!! Thanks for bringing the financial facts to life
We love cars a little bit too much in SA, especially a Polo (I have one, so Im a hypocrite already). But is it worth our financial futures?
It’s not worth it
Yerr bra, how did you get so deep in this dept. You were very far from affording this car. Anyway experience is the best teacher. I feel for you. Been there before, although in my novice years, i went for the cars I could afford. I bought many cars before even financed but never ever included balloon. Good luck and thanks for sharing.
You would have been fine and little happier in a previous model Vivo, that car is fuel efficient and the running costs would have been bit lower, but there is still hope, you can always go and refinance the car with another bank, which will reduce that 17,5% madness of interest, another option is to drive around Sosha or Eldos 😂 then it becomes an insurance problem
R7000 for a car whilst earning R17000 is not a good idea
He didn't even mention Insurance and fuel. VW is killing our brothers
Thank you for the video, it is an eye opening content for many of us.
‘Despite going through Muzi’s teachings’ 🤣🤣
"See one of my trusted girlfriend" 😂😂😂😂
Nice video bafo, just your honest truth about your experience in owning this car and nothing else. Very insightful. Let me like and subscribe
Appreciated
213k get you in a swift, you won't get the dollies but you won't have residual payment problems
Bro I subscribed to your channel because of your honesty. We really need to do a lot of such videos'. The fact that you reveal your salary makes us to really understand why we do not move forward as black people. Coz now a person will know that if i am earning 20k i cannot be going for such a car. so other youtubers are not real as you are coz you broken down why this amount is not affording such car by showing us the deductions that one experience before even starting to pay the car instalment. Thank you bro🙏
✌️anything for my brothers and sisters
U gain a subscriber my man u do proper stuffs
Let’s discuss how car buying in SA is such a scam. So I also want a Polo and I have been saving up for the past 8 years to buy on a small salary. To date, I have saved almost R200k. I went to VW to get a quote, and the financing deals I was offered:
R200k deposit, 15,38% interest, no balloon.
R200k deposit, R70k balloon, 8,28% interest.
WHAT??!!! My credit score is 679 which is considered very good. It literally will work out cheaper to get a personal loan from private professional banking and buy it “cash” and repay the personal loan. It really is a scam
A personal loan interest is compounded and will cost more than a vehicle loan. A vehicle loan interest is calculated upfront (simple interest).
My friend you're a talented TH-camr. ❤❤❤. I even subscribed and liked
Thank you so much
I have subscribed. See now you have a motivation for to work hard. Bra its about the motivation. See you already started with youtube. I got a new job and business for my polo TSI everything is balancing. Dont limit yourself keep your polo and make more money
Yeah ☝️✌️✌️✌️
Your story is informative. Hopefully you recover soon or settle for something else. Don’t allow the pressure to get to you
Thank you 😊!
Should have stopped when you saw the 17% interest rate , but it is what is bro , we learn the hard way
Yes but I had a history of on paying off debts from credit stores
Exactly my thoughts
That is why I am better off with my used Audi A4 bought in cash, I feel cozy inside it and ready to modify it where need be. I have peace of heart every month end. I only worry about petrol money. I have full ownership and am able to do other things.
Aish I’m jealous yazi 😅😅
Sad truth thank you Sipho for opening our eyes
The fact that your narration sounds so depressing 😂😂 lol. Hade my guy
😂😂😂😂😂😂😂😂😂😂
😂😂😂😂😂😂😂😂😂😂
Ah I don't like what that sales person did to this guy, noorrrr that person was wrong shem😂😂
@Tjatjie444 I wish they watch this video 😂😂
Bro you are most people i was once you then i learned and still trying to teach others as well, the surprise you forgot is repo rate 😅
That satan 😭😭
I might have a solution if you are open to it.
1.since you are an industrial engineer you qualify for a young professionals account with standard bank and absa.
With this account your private banker will get you low interest.
2.shotlist cars under 260k
With a young professionals account your interest will be lower meaning your installment on a 260k car without a balloon will be anywhere from 5.1k to 5.8k
3.find out what the settlement amount is for your current car.Once you know the settlement go to reputable dealerships and try and sell that car for Close to your settlement amount.
3.1 if you love vw trade in your car for an amount close to your settlement So that your shortfall is reduced and than get a vivo demo it should around the 260k budget.
Shop around don't take the first offer you get.
4. If you buy a swift,baleno,i20 pre owned or demo ,i10 pre owned or demo at the budget of 260k , cause they not high risk your car insurance will be less however they don't retain value like other cars in the long run.
1. I am in the process of switching over to the young professional account but the process to be finalised Monday.
2. This sounds interesting and I am considering it.
3. I will check up this will all be done in the next six months since that my target date to turn this around.
4. I was thinking of trying out the Ford Figo since you can get a pre owned around 150-180k pre owned.
Go for a Young professional Account, I am on the Standard Bank one, And I am paying less than than what people are paying for Vivos,
The trick is shop around, and take your time, don’t be in a rush, compare prices and choose the least price. Negotiate both the price from the dealers and also the negotiate the interest rate with the Bank
Look at refinancing with another bank, nedbank(MFC) usually has the best interist rate. 17% is crazy especially on a new car.
Thanks for sharing!
The greatest thing I've learned is "drop brand loyalty." I went the other way! Happy I was...
I will do so brand loyalty doesn’t mean anything at this point
Sales personnel will use the brand against you, The more appealing the brand is, the more tricks they'll use even on entry-level specs plus risks management associated with certain car models. You'll get 17 to 19% interest, ect... go to lesser car brands and negotiate, you'll see!
Alright understood! Thanks brother
Same here. I thought depression was for people on TV until it came knocking on my door... 😢 Thank Jesus I'm 🤣🤣🤣🤣🤣🤣 today. Wehh! 😱 DEPRESSION!!!
Yooooh this is really serious I never understood until it’s happened to me
At least I got you 😂😂😂🤣🤣 today
Ekse Mr Debt 😂 you've earned yourself a sub.
Ayy 😨 17.5% is wild 💀
My thoughts exactly. Thinking i cried thinking i am being robbed when I negotiated 12,75 fixed.
This salesperson is dirty!!
i always advice new car buyers/owners to get an Asian (Hyundai, KIA, Suzuki) car as your first car. They're very affordable and cheap to maintain.
It's either you switch off background sound or improve the quality of your voice. That's when I will subscribe.
I am expecting new gear for my Audio and the mixer on Wednesday hopefully you will see my next video
Uyahlanya wena dont hold him at ransom. You can see he is still new n starting mara wena unama demand wakho abhedako. Don’t subscribe at all aw.
Mos some of us still need to work hard to comfortably afford these cars😂I'm a new subscriber by the way😊
Thanks for the sub!
This video saved me from a lot😹 thanks for the transparency bro
Danko
17% interest this means you had a very bad credit score, u were supposed to patient and grow your credit score to be over 650 points, i got mine financed with ABSA with an interest rate of 11%, my point is bad credit score higher interest but good credit score lower interest i hope you get it
It’s was very bad I think peer pressure got the best out of me
This narration is top tier 😂
😅😅😅😅😅😅😅
The intrest rate of 17,5% was were I would draw the line you got convinced into taking a bad deal.
So here’s my take, as you go on in your life, your priorities may change or have different interests, for example if you and your trusting girlfriend decide to have a child you will struggle just to breathe or alternatively just like most SAs you one day want to start your personal business/investments you won’t even have any cash injection for that idea of yours. Problem with cars is that 6years its a long time to pay for a car while you might have to put your life on hold. I say make peace and downgrade. Know that one day when everything is aligned you might find yourself affording an even better car. Good luck my guy
Dankie for that , but I won’t down grade I will return the car and just use public transport
😂 ey akuhlekisi but nawe, the way usixoxela indaba i cant help but laugh
😂😂😂😂😂 vele we mustn’t cry akushoniwe lana
this' so touching and informative👍
Glad you think so!
You know a Kia Rio would offer the same comforts, infotainment system nd aesthetics at a lower price.
About 250K which is not that bad compare to the polo
Tough times never last my brada, ithi ngi’zame and subscribe 😂 Nathi siphuma ku ma balloon payment - I absolutely DO NOT recommend, if you can’t afford a car and need to add a balloon payment to afford the monthly repayments just let the car go honestly. I was so traumatised I’m probably gonna drive my car until I die! It’s fully paid now but I can’t imagine going through the financing process again - my hope is to get hit by a car and claim RAF so that I can drive my dream car 😅
😂😂😂😂😂😂😂😂😂😂😂😂😂 to be hit by a car yoooh that’s some plan you got there. They already have a backlog of 175000 applicants who they still need to pay
But a plan is a plan 😂😂😂😂😂😂😂😂😂😂
This is funny😂 and sad at the same time😢
Bro! I loved this review.🤣🤣🤣🤣
If these no other solutions just park the car while you are paying it you will use it only for necessary reasons U will save on petrol money which might cover other expenses and when the car is parked u pay less on insurance
Wow that sounds really great I think I can try it out
Dead at "1 of my girlfriends" 🤣! Hard luck Buddy but thank you for sharing the information so we don't fall into the same trap. Subscribed so I guess sibawu300 ku-R600K 🤭
😅😂😂😂😂😂 that a good one ☝️
This is why i only drive second hand cars nothing above 200k
You won’t regret it 😪
Once you buy a car at an auction, you will never set foot in a dealership! Decent cars, some fairly new at decent prices! Black South Africans really need to emancipate themselves. Even companies that assemble cars are great to buy from since their employees lease them, then return them to be sold quite cheap. There really is no need for people to be buying depression and an early grave just to be seen in the streets and at work
Plug us we don’t know how to get em in auction
Bro get rid that car, with R17K net salary its not worth it. A financed car in general is not a good idea with that salary.
but there's an alternative if you still need a car, i noticed you are using standard bank and you are an engineer. You qualify for a young professionals account and it comes with the benefit of low interest rate (prime -0.25%), other banks have the same scheme which might offer a better rate.
With this info, also look at getting a cheaper car (if you really need it) preferably under R150K or spend less than 20% of your salary on your car installment without a balloon.
bro you need financial freedom, and TBH the polo community is not one of the things you don't need to worry about.
you might get a shortfall for selling your car but at this stage you have projected a net negative to your financial year which will get worse and affect your mental health more.
you have acknowledged a problem - don't live with it, deal with it.
Young professionals account I wasn’t familiar with it but sounds amazing. I will call the bank Monday to check if I can get one 🫡.
Thank you this has given me hope.
@@Sipho.mdlulicheck with other banks too, I know absa and fnb have good rates too. And I’ve heard investec has the best interest rates for young professionals accounts
😂😂😂 Mr Debt, The Debt Machine! You're killing me man. But you're doing a service do the community.
😅😅
This shouldn't be as funny as it is😭😂 Askies Buddha, hopefully it all works out for you👊
Definitely I must
My guy, what was your credit score when you applied for this car?
I want this car and I am applying for a job that will give me 25k to 26k net pay, however I am looking in the used market, and my driver's license is 6 months old
Man just stumbled upon your video. Let me subscribe.
Danko
Lord have mercy, @muzi sambo come see this😭😭will pray for you brother it’s not easy.
I have never in my life bought a brand new car even though i can afford to. I still have my Honda Accord i bought in 2011, a Isuzu bakkie in 2017 and recently i bought a polo 2014 at a vehicle auction cash. I own all of my cars not a cent owed to banks. I look at people driving brand new cars and i always wonder how do they afford these cheap qaulity expensive cars 😂😂😂
☝️🔥🔥🔥 to be like you
With info from Muzi and still you took the deal? What happened?
Background music too loud.
I did notice that part after posting I will do better next time
My brother, do you offer middleman services helping people to buy cars? I personally don't have the time and energy to search for a good car which is why we immediately think of dealerships. If you do, that would be really helpful. Thanks
Sure can do it
Get a PDP and sign up for Uber my broer, even if you only work on weekends you can make a solid 6k a month
I have already obtained one I still need that money to by pass the actual paperwork and get straight into action
Wait!! Why such high interest when it is variable?
I’m in contract employment plus low credit score
Jokes aside, there are people who actually do this🤣😭. You can't opt to be broke just because you want to be seen in a nice car. It's not worth it and people don't care.
😅😅 I am selling it brother
That interest rate alone is crazy 😩
Bro is cooked, yoh!😭🤣🔥
😅😅😅😅😅😅
One of my trusted girlfriends 😂
Got few after buying a Polo
Bro got personal loan interest rates
Join uber/ bolt/in drive and drive on your off time and make cash to recover
It’s work in progress
When is the next episode?
Guys why are cars in SA so expensive ?😭 im so sick of the ANC!!!
Everything is expensive here in South Africa
Trade it in & get a pre-owned bro. Status without stability is a very dangerous combination.
So you are, keeping your 🚙 because you don't want to lose your status, that's sad because you live are living in a ABS position so you care about what people will say, but have you thought about how will it effect you in the future and on purchasing anything. Because Because living with the fear of what will people say 😔😔 because at the end of the day people have something to say
Thanks for that it’s true, I will eventually have to sell the car but firstly I need to do everything I can to save it I have given myself six months to try and turn my life around if all fails I sell the car
@@Sipho.mdluli you can use your,car on weekends as Uber or you can do a transport sceme. I 🙏 that everything goes well on your side, and hope if you decide to sell your car you don't incounter a shortfall.
I hope when you bought your car you bought it at a fixed interest rate
I believe in you and I know for the fact that you won't fail😃😃😃
Really wished to like and follow but I heard music throughout the whole video instead of you🙄.
No problem 😉 I’ll keep improving more and more
Interest rate of 17.25%?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!🙆♂🙆♂🙆♂🙆♂🙆♂🙆♂🙆♂
I feel so bad for you 😭😔😭😔 take it back though
I definitely will
Mate please work on that mike of yours - your content is good but how ill this international platforms and the broader South Africa.
Noted
Jikisa lomoto uthenge la polo vivo buyifuna kwakqala
Yebo kunjalo
Check ur balloon payment balance try to pay it off and sell these car
that interest rate is too high and balloon is a scam because you will need to pay it in the end
Even if your take home was R24K, You had no business buying that car. R8k 😩 and that excluding petrol and insurance, what about rent, black tax, grocery 😭😭😭
True check part two 😭😭
Mina m earning less than R10000, i don't dream owning a car that i can't afford, currently m m doing a jetta 3 project n m not in a hurry so for now old skul will do for me, especially if you have family it's worse so askis bro live by ur affordability u not in race but but marathon i hope you get a solution asap
I will get the solution, the way out of my problem