Car Finance Guide - (Application process, Deposit, Interest rate and Red flags)

[@rolivhuwamalise1795]

This channel is going to be my weapon when I buy a car. Thank you our good Doctor.

[@MfundoMiya]

So true. I'll soak up all his videos before I buy my first car. Thanks so much

[@tshwaraganocharles22]

Facts bro I’m willing to buy the polo Gti soon 💯💯💯🙏anything is possible

[@sirbastiangezwind3599]

I managed to buy a Polo TSi 2018 model saving 70 000 K from a reputable dealership. All thanks to your master classes I was able to scrap delivery and registration fees as well as 10 K on the price of the car😂 I loved the colour but told them instead it's not what I wanted but I'll take it if they drop the price😂 and it worked!

[@sandilekwanele2713]

Washaaaaa!!!!

[@dimakatsotsoene588]

How did you manage to get them to scrap the delivery and registration fees?

[@Vilakazi]

@@dimakatsotsoene588 that's a good question because at the dealership i wanted to scrap all those unwanted extra's, delivery and so on, they told me it's compulsory, i said ngeke and left.

[@vuyisilegabuza4178]

R70k? Where?

[@Thabzzz]

Nah this is bullshit, no tsi above 2015 will go for 70k

[@ntuthukomkhize1640]

Don't skip the ads guys let's support Muzi

[@nchedi]

This channel enabled me to buy Baleno GL A/T for 260k inclusive of smash and grab, delivery and all admin cost. Baie Dankie Dokotela 👌👌

[@MuziSambo]

🎉Congrats, I hope you're enjoying your car🥂

[@shobashaba4993]

I am seeing a lot of Baleno this days on the street

[@dimakatsotsoene588]

Is delivery and registration fees compulsory? Dealers giving hard time to cut them off to negotiate a cash sale

[@zamachakalaka4372]

Congratulations 🎉 what is “smash and grab “?

[@whereiszulu]

This information is very important to new employees and students. Keep lifting as you rise Muzi 🙏🏾

[@lethabomotjieng5857]

I've learnt a lot about cars from this channel. pity I'm a professional R350 surviver. I can't wait to find a job and put the lessons I got from this channel into practice.

[@thapelobokaba1147]

A phobia of buying a car on finance has always been with me for the last 5 years ever since I was employed and could qualify, until I started watching you channel in January... your content is gold ✨️... thank you muzi 🙏🙇‍♂️

[@GearzMonkey]

As someone who did a stint at a dealership, this is mostly on the money 💯💯💯. I just want to mention that your interest rate is a function of your risk profile (i.e. credit score or credit behaviour). Being a high earner does not guarantee good rates or even an approval sometimes. I would also add the difference between signing the finance contract and the delivery note. This is because people will think just because they haven't signed the delivery note and collected the vehicle, the deal is not finalised. They go shop around and try to do an application elsewhere and it appears you have car finance for a car you don't have. Don't sign the finance contract if you're still not sure about the deal.

[@takunda6087]

Noted. How long does an application take for feedback? I applied and it's been over a day without feedback.

[@GearzMonkey]

@@takunda6087 Depending on how busy the dealership is, could take a day but nothing more than 2 days. Sometimes it's because they are processing too many applications and not enough F&Is on hand. Suffering from success, I guess

[@takunda6087]

@@GearzMonkey oh I see. And probably it was affected by yesterday's holiday. I have also realized I did a fuck up, applying to more than one dealerships at the same time, I hear it ruin the credit profile. But anyways will see how it goes. Thanks

[@GearzMonkey]

@@takunda6087 Yes, multiple applications will affect your score but not the rate of reply for your application.

[@moonrock72]

This is very informative Muzi. I got a quote for a few cars and went to apply for my own finance and the interest I got made me think twice about affordability. I abandoned the idea completely. Its e-hailing for me till further notice.

[@rofhiwamuthivha3159]

The bank will give you a release note to go fetch their car on their behalf 😂😂😂..

[@IBhele]

I hate that truth. 🤣🤣

[@nhlakaniphomacwele5531]

😂😂

[@scellowmcineka4087]

Lol, that last statement also blew me😂 After all that nail biting hussle, the car is still not yet yours buddy 😂

[@taydo0895]

😭😂 this one hit

[@thissouthafricanlife8420]

Did I just see an ad? The good doc starting to get the bag I see😂🔥🔥🔥

[@silulamigqozo-kj2xs]

Thank you for Naked insurance Muzi, I'm now saving 1k on premiums from previous insurance. All these companies were quoting me crazy for a Gti. Thanks bro!

[@KeuiEmm_Creatives]

I have R0.00 budget for the car i want. But I'm always here in there channel for better knowledge. Thank you MJ

[@manyuhahulisani2091]

Can't wait for the Dr of Car Finance to feed us more knowledge💯💯💯💯🔥🔥🔥🔥🔥, all i didn't know about financing and stuff this been my go-to channel🔥🔥😭😭

[@dailinscullard7731]

What a soul you are my guy - i am over 30, THOUGHT i knew all i needed to know about owning and maintaining cars LOL . Brother keep grinding, your videos are far more educational than you think and yet so entertaining and informative . To consider to many perspectives, & opinions, yet still be so confident is impressive.

[@trevornkuna8391]

I applied through the dealer. Got accepted through all the major banks and got rejected by my own…. The dealer then negotiated and asked them to provide a reason for their rejection. They couldn’t provide any, so they finally accepted, with a slightly lower interest rate…. Couldn’t have negotiated all that had I applied on my own

[@Sum_Guy]

Great advice... Sometimes people just want to know how to do something. Everytime you Google "how to buy a second hand car in South Africa" no article will give you the step by step of what to do, what documents you need .. They will tell you things like "take it for a test drive, make sure you do your research, etc"

[@xoliswathango31]

I got a whooping discount all thanks to you, one of the dealer was not able to get the colour I wanted took the quotation to another dealer lolthat had my colour m, but told them I want you guys to beat this offer and they did and I got the colour I wanted…all thanks to you 😊👌🏽

[@ayandadlamini9043]

Muzi made me like Suzuki, and im getting one in December

[@MuziSambo]

You won't regret😉

[@donaldtebogostuurman4538]

I referred a friend to this channel and he was buying a used car which this channel helped him a lot 🔥🔥🔥 You are saving the khantri

[@ThaboMashiloane]

I am for a deposit for the same reasons you mentioned. Negotiating lower interest and better monthly cash flow from a lower installments. But, I still have limits on the percentage Im willing to give on the value of the car. Never above a quarter even if I have more. I'd rather invest the rest in equities/ETFs.

[@bonolomekgoe8958]

This channel deserves more recognition.

[@mashuducmathisa156]

I think paying a deposit in cases where it lowers one's monthly installment &/or interest is a good thing because it can allow u to save some money while paying installment at the same time. If monthly installment is R6000 with 0% deposit and R4000 with deposit, one can pay 4000 installment and put R2000 on the savings account, come rainy days they'll be some savings in the savings account.

[@mindfreeze0838]

I would differ with you Dr. Muzi on the matter of paying a deposit. In light of the intrest rates and car prices going up banks have responded by upping loan durations. There will be a time wjen loans are going to be 7 and 10 years. In liight of this I would reccomened getting yourself out of that as soon as you can and the best way to do that is to pay a deposit or later on, move the loan and renegotiate. Again this is not the scenario now, but if things keep going the way they are, that will be the future.

[@kenpai314]

I absolutely love your approach to educating South Africans. Well done sir 👏

[@snazomnyakama622]

❤️Thank you for all efforts assisting us in making financial decisions. We gaining confidence everytime becoz of the knowledge you are giving us. Atleast still someone like you who doesn't sugar coat the reality of finance problems this helps us use our heads not the excitement of buying a car clouded by fear to negotiate or sweet talk by dealers. Let ur cup over flow with blessings you truly are God sent to save souls from financial depression. Danko Mr Sambo

[@MuziSambo]

I'm really glad you find the content helpful. Thank you for being part of our KZbin community🙏🏽😊

[@rolandmalebogo]

"Lot of floating cash. Kante weeeeeee😂😂😂." Excellent commentary. Been following your journey since last year. I always learn something while laughing.

[@mthokozisimyende787]

Mara why are you buying a car if you don't have your savings sorted out first. Saving for a rainy day is something you should start doing from your first paycheck. Khokha iDeposit yakho!!!! i'm just playing along with the given scenario, ningathathi kabi

[@tumeloolifant-jv7ir]

Thank you very much muzi,you don't know how much we value and appreciate the education you giving to us 🙏🏿

[@lebogangtsutsa691]

Thank you so much Muzi, you have outlined important information not told by sales people ❤

[@jasonjohnson905]

In partnership with naked!!!!well done Doc!!!we going places

[@_trevormmolawa_77]

Many people who are generation Z nothing about car finances how was that person now I know everything by your videos

[@nolonwaboyisaka6648]

Super helpful. I am shopping at the moment, and I got my eye on the mini one, 2023. I would be a first-time car buyer and have no knowledge of anything. Thank you .

[@tshegofatsoseranyane8718]

Yeah you open my eyes authi yaka, I was gonna at least put a 50% deposit on a car I want...

[@KinomaroMakhosini]

Its so nice seeing a KZbin video from my hometown😭🔥

[@yanga3028]

What's your take on buying a car with cash as a first-time car buyer?

[@simplyceceeqoza4779]

I just found your channel!!!! Talk about simplified!!!! I was clueless!!! I'm a new subscriber.

[@liammarcelventer1880]

No use getting a 7-9% interest rate but then paying 5000+ pm for 72 months plus a balloon. Then the cost of credit is more than the vehicle itself.

[@trigganasty]

Looking to buy a new car this year, and man, you’re videos are such a help

[@MasterAppels]

I love the Naked ad. Get that bag!

[@MadEasy86]

Another great video. I'm interested to know which is better between a fixed and variable interest rate. Maybe a difficult question as there are pros and cons to both

[@MuziSambo]

Watch: kzbin.info/www/bejne/Y4vMoZSllqtrbMU

[@MadEasy86]

Hawu... How did I miss this one... KZbin is tekateking

[@refilwekhosi8737]

I am in the process of selling my car, & getting a loan to settle the shortfall will start afresh next year with better knowledge.

[@lekgwarengsehlodimela572]

It's about time you got a sponsor

[@rangongoantoni9744]

Muzi you are the best bro. please when you get time review Nisan Magnite for us'

[@Miss_Buda]

Yes please 🙏🏾

[@samkelomthalaliso9744]

Wow..I had no idea, can you please review cars for the (disabled people) next time....because the people who do adaptations. Eish bayakokotela, the hand controls they put on cars look very, especially (push,pull). Can one get it from the dealership as an extra?

[@Phano_Styles]

Most informative car channel in SA! Keep it up grootman MJ

[@TholakeleSkhosana]

I’m glad I found this channel before making decisions also you’re kinda funny 😂

[@Xiluvaangel]

Your humor dude 😂😂.. thank you for all the information

[@PulengMaja-ur3tr]

Muzi Sambo is the dealerships worst nightmare☝️😂😂.

[@KellieCarol]

Thank God I found your channel, it's so informative 💯👌

[@moffatk7948]

Most of these in house finance will usually never give lower interest rate for free. There's always and conditions catch that may be unfavorable, like 9% or prime minus 2 but slap you with a balloon payment of 20%. If you dont want finance with balloon then the normal interest rate applies.

[@thobincebagolimpi6182]

Sure MJ I like your content bruly keep it up.. by the way I just noticed car dealerships they don't want to do quotation in our days . They will be asking a lot of questions if you say u want external car financing

[@mtokioros4932]

👌🏾 Clean and informative.

[@boitumelombatha5066]

Im definitely gonna cry😭 will use this trick

[@prettympaks6569]

Thank you Dr for this, can you also please tackle advantages & disadvantages of a balloon payment, when is necessary? ....apologies if i have missed the video

[@Babs.K]

Yeah I think when he was talking about deposits vs no deposits, it was an important thing to mention. Also, the examples in the beginning with the low interest rates had exorbitant balloon payments. I don’t know anyone who has 150k to drop at once in the end.

[@ronz91]

Thanks Muzi for the great content When you touch on this subject again, I would like to hear about paying off the car loan early as I have heard some places may charge a penalty.

[@MuziSambo]

Watch: kzbin.info/www/bejne/iIq4pqepnrmKo9U

[@RassieM-ft6ii]

Don't like the fact that I have to wait for the 60 seconds countdown even though it's 15:32 already. But I know it will worth the wait.

[@tebohomathe3462]

Yess this is the video what I've been been waiting for

[@_trevormmolawa_77]

Thank you so much for telling me about this how about car finance do you know anything but now you know because of you are you bro🙏

[@joney654]

This is definitely one for me. Thank you, Sambo!!!

[@mpumemlanduli6912]

Thank you for this video Muzi Can i still apply myself for finance even though i have asked the dealership to do it on my behalf😢 just saw this video today and already sent my docs to them😢

[@MuziSambo]

You can still negotiate through the dealer and ask them to send you the podiums from different banks, don't just rely on verbal feedback.

[@Manuqtix.Manuqtix]

4:01 Alternative if you can’t negotiate don’t cry. Get a Cheap used car and befriend a good mechanic

[@MuziSambo]

Broken cars can be fixed. That sounds like a plan😁😆😂

[@leratophakoane522]

​@@MuziSamboweeeeehhhhhhhhhhhh😂😂😂😂😂😂😂😂

[@songezongam2930]

Ta muzi, please do a video explaining car downgrading and the implications of it, car refinancing

[@MuziSambo]

kzbin.info/www/bejne/pJqpomCLf7-aq7c

[@tokelodeon6230]

Hi Muzi... out of interest and what might help others also, can you please do a car loan application for those with bad credit score (not low score). I hope I make sense. Thanks

[@manelisizungu5844]

“To go fetch their car on their behalf” 😢😢😂😂😂

[@MNJ_Agri]

in Muzi's voice ýou have no means to buy a car"

[@CeePhore]

Thank you for the information Muzi, was hoping to hear more about balloon payment

[@bulelanibotman]

the greatest to ever do it! thank you for this information

[@footballbar12]

The best to ever did it🔥🔥🔥

[@ayandandwalane3784]

I've been waiting for this video for a long time

[@simphiwexulu3797]

This video was also about how umaka Snowy goes about viewing cars

[@LebohangMathe]

Eish mara I think tracking devices are a must nowadays. Ku rough la ngaphandle

[@sunflawa]

I love this channel .. and that the videos are short

[@thatohatsisidaka2242]

Hi Muzi, Could u please do a video about Hyundai Accent (especially a sedan) but if u have already then please provide me with the link to it. Thanx in advance buddy.

[@donaldtebogostuurman4538]

😂😂😂😂😂 I wont leave this channel 😂😂😂😂😂 aiii Dokotela you killed me, umuntu must cry 😂😂😂😂😂😂

[@sphamandlayende1510]

i told you about naked!!!! they very good!

[@sthemadeit]

Lol good to see you’ve warmed up to Naked Insurance. I remember watching the GTI video and u were shopping around for insurance and u said “when I see red flags I run” after getting a quote from Naked😂 If you now trust them then let me also see what they have, ngihamba nawe hosi ya mina✊🏿

[@MuziSambo]

🙂Yeah, I've been using Naked for just over a year now for the Baleno and Swift. I claimed once and everything went well. (NB: Windscreen claim)

[@sandilekhendle9495]

This guy makes me want and not want to buy a car at the same time

[@sivuyilemahamba7765]

Thank you Muzi this information we might need it in the near future

[@galeboemoeng7911]

the catch with the Mazda and VW deals is the balloon payment. in general its a bad deal for the customer, in SA with the current economic climate not many will have that amount of money at the end of the payment period.

[@MuziSambo]

That's not really a catch. You're not forced to take a balloon, it's only there to make the installment lower.

[@BryanSinqadu]

Sho Dr can you please alternate your sound tracks with the old one, it still slaps so hard. Thank you

[@tamarelouw]

Thank you boet Muzi, I’ll just look at the bm’s I won’t buy, promise

[@thatoseoposengwe4449]

Muzi is thee GOAT!!!

[@WiZzarD_4]

@muzi please do a video on these deals with deal assistance like ones Audi is running for R150k deposit assistance for Q5. Please tu 🙏🏾

[@sibongilemabaso7579]

Every informative, keep on making such great videos.

[@zimmyar]

Just cry 😭 that I do best it works 😂

[@mattgraver3604]

So much valuable information in this video, dankie bru

[@ThembaAndGogo]

Can you give us a video of a 1.4 ford figo ambiente 2012 and what you think about it and if it can make a decent second hand to buy for a first time car owner

[@jackie7239]

Musa thank you for the wisdom man much apreciated 🎉🎉🎉

[@obakengleseyane6493]

"just cry"😅 It works guys

[@MuziSambo]

😭Tears work💯

[@dudleylosper3858]

"Well if you don't know how to negotiate, just cry." 🤣 🤣 🤣 🤣

[@SomeCare_M101]

And abantu baze babe nomona ngemoto that belongs to the bank, until fully paid up. Eyi abantu!

[@jusmotheo5160]

I'm gonna go via the bank route not dealership route.

[@thabisombonda8717]

My teacher, I salute

[@alimotshehoa3381]

Good information, thank you Dr. Muzi.

[@GregoryMkhaya]

I love this Channel

[@Molox15]

Those greedy dealers are stingy with those below prime specials.. they'd rather die than let you walk away without letting them eat your commission.

[@thapelomonama8066]

Very informative, thanks man!

[@reneilweshiane6656]

Thank you very informative, quick question the deposit you pay the bank that is financing you or the dealer? And who do you favour in your scenario with the deposit and no deposit?

[@jerryseakamela]

Keep up the good work Muzi

[@esihlephindilehlongwane6728]

Good Dr What's your view on buying a car from auctions?

[@tlordonthebeat12]

The blue BMW🔥🔥🔥🔥👌👌👌👌