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.

Almost 700k for a polo is nuts. 😭🙏 At least we learn from our mistakes and other people's mistakes.

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. 😢

"mr debt, the walking debt machine"🤣🤣🤣

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.

the narration is killing me 🤣 "sibawu3 ku-R10" 😂😂😂

R8000 for an entry level Polo. Thats depressing indeed

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!

The way you narrate 💯💯💯, I enjoyed this video

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)

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.

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.

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.

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 🇩🇪 🇩🇪 🇩🇪

I am watching this video every time I think of a polo 😂😂😂😂😂😂

R7000 for a car whilst earning R17000 is not a good idea

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

Should have stopped when you saw the 17% interest rate , but it is what is bro , we learn the hard way

"one of my trusted girlfriends" This is a polo driver through and through🤣

Lol you sounded broken from this expirience bro. Glad you came out stronger and now you teaching us. Giving back to your people

Thank you for this my brother, your honesty has saved me from making a very bad decision.

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.

"See one of my trusted girlfriend" 😂😂😂😂

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 gain a subscriber my man u do proper stuffs

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.

@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

Thank you for the video, it is an eye opening content for many of us.

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.

‘Despite going through Muzi’s teachings’ 🤣🤣

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?

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🙏

My friend you're a talented KZfaqr. ❤❤❤. I even subscribed and liked

The fact that your narration sounds so depressing 😂😂 lol. Hade my guy

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

Sad truth thank you Sipho for opening our eyes

Nice video bafo, just your honest truth about your experience in owning this car and nothing else. Very insightful. Let me like and subscribe

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

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 🙏

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

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.

Your story is informative. Hopefully you recover soon or settle for something else. Don’t allow the pressure to get to you

213k get you in a swift, you won't get the dollies but you won't have residual payment problems

Mos some of us still need to work hard to comfortably afford these cars😂I'm a new subscriber by the way😊

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

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

Ekse Mr Debt 😂 you've earned yourself a sub. Ayy 😨 17.5% is wild 💀

Same here. I thought depression was for people on TV until it came knocking on my door... 😢 Thank Jesus I'm 🤣🤣🤣🤣🤣🤣 today. Wehh! 😱 DEPRESSION!!!

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 😅

Look at refinancing with another bank, nedbank(MFC) usually has the best interist rate. 17% is crazy especially on a new car.

😂 ey akuhlekisi but nawe, the way usixoxela indaba i cant help but laugh

this' so touching and informative👍

Bro! I loved this review.🤣🤣🤣🤣

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.

This video saved me from a lot😹 thanks for the transparency bro

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 🤭

This narration is top tier 😂

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

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 😂😂😂

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 😅

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

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.

😂😂😂 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👊

This is funny😂 and sad at the same time😢

It's either you switch off background sound or improve the quality of your voice. That's when I will subscribe.

Really wished to like and follow but I heard music throughout the whole video instead of you🙄.

The greatest thing I've learned is "drop brand loyalty." I went the other way! Happy I was...

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

Man just stumbled upon your video. Let me subscribe.

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

Lord have mercy, @muzi sambo come see this😭😭will pray for you brother it’s not easy.

Bro is cooked, yoh!😭🤣🔥

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.

Guys why are cars in SA so expensive ?😭 im so sick of the ANC!!!

This is why i only drive second hand cars nothing above 200k

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

Trade it in & get a pre-owned bro. Status without stability is a very dangerous combination.

Subscribed 😊 .

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

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

A firm "STFU!!... I'M TRYING TO THINK " at the car salesman is the REAL deference between stay in poverty or winning in this mzansi economy 🤷

Mate please work on that mike of yours - your content is good but how ill this international platforms and the broader South Africa.

why did you not just save and buy secondhand? I mean you could save that R7000 for a year and buy a car in cash or least have a big deposit...

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 😭😭😭

With info from Muzi and still you took the deal? What happened?

Check ur balloon payment balance try to pay it off and sell these car

Waiting for part 2 😅

that interest rate is too high and balloon is a scam because you will need to pay it in the end

That interest rate alone is crazy 😩

Join uber/ bolt/in drive and drive on your off time and make cash to recover

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

When is the next episode?

Sibaw3 ku R10😂😂😂⚰️ This guy is funny is kahle kahle

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.

Bro imagine thats almost a million rand for a polo if you round it off 😂😂 daylight robbery this economy we live is ridiculous

17 percent interest rate !!! Bro sorry. That was a day light robbery 😢😢

Wait!! Why such high interest when it is variable?

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

Spending almost 40 percent of your income on a car is problematic and not affordable. There is something you can do. I assume you cannot walk away, so you will need to double down - if you can suffer for twelve months - and pay an extra 1500 per month - each 1500 extra you pay now is 800 less you pay in the future. If you can keep that up - let's say you get an increase from work - and you keep that up - you can save 130,000.