It is important for people to understand that certain businesses do not operate on a profit model that depends solely on repayments. Instead, they make profit from your inability to complete the payment, which prompts them to seek ways in which you might fail to complete the payments. This way, they can repossess the cars without any legal complications. In fact, even if you complete the payments, they can still track the vehicle and steal it.
Congratulations, Patrick. You have wonderful practical knowledge One problem with us Kenyans is greed desire to belong to status above our earnings. This makes us easy prey rogue credit companies.
Samahani sio kwa ubaya.....Kenya tuko poa I'm currently in jozi hapa almost kila mtu ana ndai as long as u have a job with a payslip n bank acc. Huku unapewa chocolate....so when I hear unazusha juyanyake nashangaa huku watu full madeni hadi nguo niza deni hapa hakuna kikomba
Mkuu watu most people kwa Comments section don't understand the shylocks with new names calling themselves Credits. Issue Finance based on per month Rate mostly it might look small but if you calculate within 12months pegged at interest rate of (2-10%) the know definately utalemewa. And usually they are very keen ukienda seeking Loans with German Cars they are very reluctant to give you alone Example Troublesome Cars kama VW Golf. But the market preferred Akina Fielder, Premio, Mark X..... Those Japanese car that have High Resale Value. My advice Uza Gari Downgrade finish your project. Shylock/Credit loans that are not regulated by CBK wachia ignorant people. It ent worthy. God bless
NCBA is ok, they will reposses you once you fail to pay for two consecutive months though, but after repossession you can pay before it gets auctioned , only charges will be storage fees that you will have to pay the auctioneers
Banks you fail to Pay after the second month, they send you a Demand Letter and immediately repose. For NCBA if you want to know their wrath go to their Auction Yard in Nairobi. See for your self before you fall prey to their Asset Financing. Regards
My friend went for honda hybrid,paid 650k,was to pay 50k a month,alilipa 6 months then one day akakosa pesa,Moti ilichotwa Leo na by kesho akienda ilikua imeuzwa.... momentum 😢
How creditors wa kenya are real cons and the government does nothing to protect the poor person from thier greedy teeth, they even repossessed my friends' car it was financed by Loop and he got nothing back, expose them hio si business ni ukora
Kenyans won't hear you. I sell locally used vehicles! They will come to the yard and make statements like, "500k si niende nichukuwe mpya nilipe pole pole?" Someone says this yet they don't have any business plan that will enable them to raise that 30k every month to pay the loan back.
Mabaradhuli wamejaa kwa biashara za mikopo🤔😳,I know of a guy who lost a motorbike after 8months of payments!!! the bike was repossessed frmmat the stage in a very chaotic manor!!!
But sometimes we too kenyans are very ignorant. I am a mechanic and i repair bikes for people who have bought them via loan. But unapata mtu amelipa five months vizuuri then anaanza kuchelewesha pesa intentionally akisema hiyo pesa yote nimelipa hawawezi ni chota. He convinces him self that he is safe yet he understands the terms and conditions very well. Then bike ikienda he blames the creditors. Another thing is those people vaderlizing the bikes. Mtu ako na bike mzee. Anachukua bike na loan, then he havest the new parts anaweka kwa bike yake mzee and defaults payment wakujie shell. The creditors are taking a high risk thats why i think they too are harsh when we fail to honour our end of the agreement. Wengi wakilemewa kulipa wanapora parts and thats why immediately ukilemewa. They repocess the bike with immediate effect. My humble submission.
Kenyans lets have some patience please,,stop this show off or tamaa ..relax ,,kaa kwq matatu ukiwa na plan yako ,,uyu patrick pia yeye alisave pesa yake for 2yrs na akanunua gari yake.wakenya wanakopa magari kuenda kuonesha relatives na friends wameomoka kumbe chini ya maji kinawaramba proper kaa crocodile 🐊😂😂😂..pthooo😂😂
@pamurick i wish those who want to buy car with hire purchase to think about it..I bought voxy in 2019 before Corona and when Coronavirus started you remember psv that time was very tough because of social distancing..at that time voxy was 1.4m and my hire purchase deposit was 700k just because of one month pending that the government requested em to unjust the payment my car was repossessed and I lost 700k…before buying car with hire purchase have a deal that is also friendly to you to as well…
Just save money polepole and buy cars in cash...mbona ata mtu asinunue second hand car kwani mnaogopa nn? Don't enslave yourself benefiting someone in the name of driving...wakenya wacheni show off na Tamaa ..just relax ,,set a target of saving either monthly or daily u will have your car.then wen buying your first car go for something affordable for you too
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Mogo, progressive are among notorious lenders you have tu run from!!!!
It is important for people to understand that certain businesses do not operate on a profit model that depends solely on repayments. Instead, they make profit from your inability to complete the payment, which prompts them to seek ways in which you might fail to complete the payments. This way, they can repossess the cars without any legal complications. In fact, even if you complete the payments, they can still track the vehicle and steal it.
Thanks Pato kwa kutachunua. I wish someone could upload a redacted loan agreement from the so called predators tukuwe na more info.
@@JM_b5yx now they prefer prepayments in dollars...its just meant to ensure you never keep your end of the deal so the same item can be repossessed
Congratulations, Patrick. You have wonderful practical knowledge
One problem with us Kenyans is greed desire to belong to status above our earnings. This makes us easy prey rogue credit companies.
THANK you chairman...
Hapa wakenya wanataka kufurahisha watu ..then kinawaramba..
Samahani sio kwa ubaya.....Kenya tuko poa I'm currently in jozi hapa almost kila mtu ana ndai as long as u have a job with a payslip n bank acc. Huku unapewa chocolate....so when I hear unazusha juyanyake nashangaa huku watu full madeni hadi nguo niza deni hapa hakuna kikomba
Mahali utaskia MOGO just run for your life na usiangalie nyuma.
Microfinances very notorious have no government control, the highest number of suicide cases in adults are this loans
My friend's motorbike was repossessed when he was about to complete his payments, 2 months ndio ilikuwa imebaki.
Expose the creditors here
@@dancanwasaal1870motorbike 99% ni watucredit.
Ukitaka simu ya sh15000 na unafanya kwa hoteli. Just do a lock savings kwa mshwari ya 6 months urushie kitu ata sh100 per day
Hahah..hizi six months kungoja Inakaa a whole decade
Mkuu watu most people kwa Comments section don't understand the shylocks with new names calling themselves Credits. Issue Finance based on per month Rate mostly it might look small but if you calculate within 12months pegged at interest rate of (2-10%) the know definately utalemewa. And usually they are very keen ukienda seeking Loans with German Cars they are very reluctant to give you alone Example Troublesome Cars kama VW Golf. But the market preferred Akina Fielder, Premio, Mark X..... Those Japanese car that have High Resale Value. My advice Uza Gari Downgrade finish your project. Shylock/Credit loans that are not regulated by CBK wachia ignorant people. It ent worthy. God bless
You are absolutely right...
Thanks for educating our people
Always welcome....hii tutawaforce wameze kama Panadol
Microfinance have structured their loans in such a way that you are likely to default on it no matter how hard you try
appreciate you man
Mimi nilichukua tuktuk na KARIBU VENTURES.They are scammers they are not for business but to scam😢
What happened bro?? Walitufanyia aje..? Ama ulipata loan haiishi
Mogo,mwananchi credit, platinum etc... be careful!!. Go to the Bank.
Brother thanks a lot u are heaven sent keep up good work
Thanks and welcome ..
What about buying through NCBA bank.who can advice on this before I fall victim
NCBA is ok, they will reposses you once you fail to pay for two consecutive months though, but after repossession you can pay before it gets auctioned , only charges will be storage fees that you will have to pay the auctioneers
Banks you fail to Pay after the second month, they send you a Demand Letter and immediately repose. For NCBA if you want to know their wrath go to their Auction Yard in Nairobi. See for your self before you fall prey to their Asset Financing. Regards
My friend went for honda hybrid,paid 650k,was to pay 50k a month,alilipa 6 months then one day akakosa pesa,Moti ilichotwa Leo na by kesho akienda ilikua imeuzwa.... momentum 😢
Jehovah😢😢 hii ni imezidi ..
Actually I feel your vibe coz I was once a victim
Thanks pamuric show you have enlighten us more .I was one of the victims.keep up
i like acknowledgment ur putting in i would kindly ask for vans reviews
How creditors wa kenya are real cons and the government does nothing to protect the poor person from thier greedy teeth, they even repossessed my friends' car it was financed by Loop and he got nothing back, expose them hio si business ni ukora
Thanks so much kwa kutuchanua
Karibu sana mkuu ...hapa Inje field Iko unfriendly sana ..
Hii leo umehubiri mkuu.salute
Kenyans won't hear you. I sell locally used vehicles! They will come to the yard and make statements like, "500k si niende nichukuwe mpya nilipe pole pole?" Someone says this yet they don't have any business plan that will enable them to raise that 30k every month to pay the loan back.
Good advice !
Glad it was helpful!
Mabaradhuli wamejaa kwa biashara za mikopo🤔😳,I know of a guy who lost a motorbike after 8months of payments!!! the bike was repossessed frmmat the stage in a very chaotic manor!!!
Wa kenya wenzangu tuwache tama
But sometimes we too kenyans are very ignorant. I am a mechanic and i repair bikes for people who have bought them via loan. But unapata mtu amelipa five months vizuuri then anaanza kuchelewesha pesa intentionally akisema hiyo pesa yote nimelipa hawawezi ni chota. He convinces him self that he is safe yet he understands the terms and conditions very well. Then bike ikienda he blames the creditors. Another thing is those people vaderlizing the bikes. Mtu ako na bike mzee. Anachukua bike na loan, then he havest the new parts anaweka kwa bike yake mzee and defaults payment wakujie shell. The creditors are taking a high risk thats why i think they too are harsh when we fail to honour our end of the agreement. Wengi wakilemewa kulipa wanapora parts and thats why immediately ukilemewa. They repocess the bike with immediate effect.
My humble submission.
Momentum credit ishai niramba Wacha tu
Mwenye maskio amesaidika kabisa
Tengenezeni list of these shylocks hapa chini. Nimeona MOMENTUM imetajwa. Tuongeze zingine:
MOGO
@@jackywanjiku7535 I read the comments on their page and it's scary!
There's also, PLATINUM
Mogo and Platinum are a no go zone
Mogo, platinum, mwananchi credit, watucredit, ngao credit avoid those guys like a plague.
Mogo dollars 😂😂😂
Kenyans lets have some patience please,,stop this show off or tamaa ..relax ,,kaa kwq matatu ukiwa na plan yako ,,uyu patrick pia yeye alisave pesa yake for 2yrs na akanunua gari yake.wakenya wanakopa magari kuenda kuonesha relatives na friends wameomoka kumbe chini ya maji kinawaramba proper kaa crocodile 🐊😂😂😂..pthooo😂😂
Sometimes they take for business sio tamaa
They learnt that from the banks
Evil criminal gangs from hell.💯
Smart
What about watu gari
Money thugs.
They want you to default 😮
Took a car from mogo at 26000 a month now am paying 33000 asked why at dollar ilipanda
Enda uulize your remaining balance and you will be shocked that it's higher than the car price. Mogo is a no go zone
Hii ni hatari
@@Andykibe254 Mogo hapana
Achana na hiyo gari lazima watakuchota you will be their slaves as long as you have the car
Is the loan at a fixed rate or pegged to CBR like a bank loan? That may be another factor causing an increase in your payments.
Ya phone and pikipiki was way worse
😢
How does one reach you?
Niaje kiongozi...use this sir..0785902534 or Whatsapp Same no. Itakua best.. meanwhile have a good Day
Mogo thugs
@pamurick i wish those who want to buy car with hire purchase to think about it..I bought voxy in 2019 before Corona and when Coronavirus started you remember psv that time was very tough because of social distancing..at that time voxy was 1.4m and my hire purchase deposit was 700k just because of one month pending that the government requested em to unjust the payment my car was repossessed and I lost 700k…before buying car with hire purchase have a deal that is also friendly to you to as well…
Pole Bro. Whats the best thing to do? What about paying a higher deposit! like more than half the cost of the car?
Just save money polepole and buy cars in cash...mbona ata mtu asinunue second hand car kwani mnaogopa nn? Don't enslave yourself benefiting someone in the name of driving...wakenya wacheni show off na Tamaa ..just relax ,,set a target of saving either monthly or daily u will have your car.then wen buying your first car go for something affordable for you too
@@HecPromanchunga, don't buy on loa n have patience, also my friend paid his demio almost all the money, it repossessed and he got no cent in return