How to deal with heavy monthly car expenses - (Downgrading, Surrender & Loan restructuring)

[@klasssavage6581]

This was deep. I need Brostrol to clear my throat.

[@MuziSambo]

😁😆This comment is underrated or my mind is just dirty🤗

[@KIDIOTSA]

@@MuziSambo you need brostol

[@dudettethechicklet2828]

I downgraded after getting myself into a financial mess. I had an SLK350 until I got woke. I realised my installment + insurance could buy me 3 rental properties. Yes you can't drive an apartment but I downgraded to a kwid for 3yrs and now the rental income is paying for my haval jolion. My friends laughed ba re ke wele coz I went from SLK350 to a Kwid. Guess who is laughing now.

[@Knocks1970]

Heita Just saw your comment, I am interested in the property aspect, mind sharing. Would be very glad.

[@tumelondlazi6738]

Mr Sambo, you are quite right 😢 I look at white colleagues at work no fancy cars and lunch time no takeaways 365 days straight, rena Nandos,ntonton everyday. I have learned…. all my cars I own them no installments for me and now I have managed to payoff my home loan

[@siveshenragavulu2181]

Jokes aside I really appreciate the knowledge that you're dropping in videos like these. Thanks.

[@ontiretseorearabile1939]

Attachment issues is what a lot of us suffer from. Trying to hold on to material things which shouldn't be much of an effort letting go. It takes real mental and emotional strength to accept reality for what it truly is and move on. Great content as always!!

[@bongarozani272]

"Don't let material things define who you are" at this point Muzi must write a book. What a genius.

[@koketsokotsane9936]

You're really a gift to all of us bro. Especially to us black kids that are doing this life thing without the memo or examples to look up to. We appreciate you my guy. keep up the great work.

[@filipedosreis3406]

As a umlungu I enjoy watching your videos and I'm vibing to your jams 🎧🎶 keep it up brother! I feel like there's 1 more viable option which isn't an immediate solution but It can work. Say you have a shortfall (R90k) you should try as best as possible to keep paying till that shortfall is finished (usually occurs after around 2 years of ownership) that's when people usually trade in or sell privately and most times depending on how your finance is structured (and depending on the car) you will break even. So in short u must eat pap and eggs for at least 2 years until u can trade in or sell to break even. This will be best not to hurt your credit score.

[@AlfaAbdulGafur]

Awesome advice dear brother

[@filipedosreis3406]

@@AlfaAbdulGafur sho mfana 🤜🤛

[@thabangsimelane7730]

The views of this channel mostly align with mine: Make financial decisions that make sense to YOU!

[@Sbudarh_P]

You are Mamelodi Sundowns of car content creators 👏🏼👏🏼👏🏼 From: Khosi Fan✊🏾

[@don.spovaa]

You are like a Grootman that i never had, Mzozo i'm still in college, yet your content makes me feel like life is not so bad after all. Ngiyabonga.

[@makgalemarcusmathale1066]

👏🏾👏🏾👏🏾, you are a great teacher Sir, we learn so much more from you than financial advisors and accountants. Keep it up.

[@thabisokanyane5432]

This is the reason why you won the award, quality content!

[@Cbo_Matakane]

yoooo hayi this car channel is hands down the most educational

[@TheReal5lim8uggy]

Things they should be teaching us in school.

[@clementmokwena8861]

Today you really went it. Thanks for this big bro.. You have now become the older brother I never had.. "Hope is not a Plan" 🔥

[@anhlulophiophillusmkhabele7957]

Thanks, bro! You're dishing knowledge that'll save millions from bad financial decisions.

[@zaakirsam2628]

Aaaah dude I love your content. I own 3 old vehicles of my own, they in Immaculate condition. Teacher Sambo thank you for all your hard work to provide us with factual and educational information about finance etc. Thanks my guy. I work in car insurance and the premiums for a quote is never the same. All quotes are different. The only logical answer for why the premiums are that way for the swift in terms of a new driver is risk factors involved. While the baleno is a more expensive car and the swift cheaper. The swift is more of a demand than the baleno itself thus making its a high risk vehicle in multiple scenarios such as accident rates, theft, hijacking and the list goes on. It also comes down to the persons driving history that plays a big role in insurance in terms of premiums.

[@drkamotjelele]

You should make a KZbin channel and talk insurance. 🤞

[@khanyi_honey02]

Yeses! I didn’t understand why my swift insurance premium was so high until I sold the car. 😂 Thanks for this.

[@LeboMolamu]

@@khanyi_honey02what happened?

[@Anelecharles]

I love this guy's sense of humour

[@tevo_za]

Okay biltong is amazing man😂 but I agree with you on the bikes and boats

[@thobilemhlongo6456]

It's literally my favourite snack

[@ngaka_ya_pitoriwadijaja4643]

Biltong is too nice maahn🤌🏽🤌🏽😅

[@xolisasukwinimangali6325]

😅😅😅😅

[@therambler3713]

I will never understand how someone can spend R50k on a bike

[@purpisa_dlamini]

@@therambler3713 my man, 600k on a motorbike 70k on a bicycle that has a carbon fiber frame. This people

[@samjnr1300]

👋🏽👏🏽. Yahneh. Downgrading must be one of the hardest things to do. Personally, I prefer the idea 'pre-downgrading'

[@tebogothema1405]

Don't have a car yet....but I'm pretty sure the day I get one I'll make great financial decisions...thanks to you 🤛

[@lukhanyomabutyana1347]

You videos are very educational broe and your views on different matters just show how wise and intelligent you are. We are learning a lot from you. Stay blessed🙏

[@beaniesatthebeach8457]

I'm glad that I learnt about downgrading the hard way early on in my life and it has changed my perspective on things

[@sandilenkosi5745]

😂😂😂😂your sense of humour is out of this world

[@justindaniel5959]

Great video! Test drove a new BMW 2 months ago, so glad I didn’t get it. I would have hated myself for making so much debt.

[@thabovanwyk583]

It’s amazing how I quickly got used to the new soundtrack on your videos. I actually even forgot how the old one sounded like.

[@bradleylefika9209]

We have no competition on the net! Keep up the work 💪

[@tebogom8054]

I needed to hear this. I love my car. Let me start with Loan Restructuring... If it fails, then Downgrade will do, coz wow....

[@nakanampho8946]

Such info can't be bought..we appreciate the knowledge you continue to share with us on this channel..just given the black child some hope🤞

[@lindomdlovu]

Quite an eye opener Muzi. Even though I know about most of these things I still find it intriguing and reassuring when hearing it from a passionate and knowledgeable person like yourself.

[@ShakerComedyChannel]

Thanks my brother I’m going through financial difficulties but you’ve just taught me how to make the situation better 🙏🏻 uNkulunkulu akubusise

[@kgafanepaulus8290]

Best video ever,,,,, i like it when you tell us nothing but the truth,,,, most of us we don't know when to let go.... Big ups brother,,,,No one in our circle is ready to talk about this,,,, it's all about pride and competition,,,, many thanks for changing our perspective

[@ntshembomashaba2937]

1. Before voluntary surrender one can sell the car on their own and see if they can get "good" money, closer to what they owe. 2. On top of insurance get shortfall cover. For those who don't know, shortfall covers the difference if you sell your car or write off etc. 3. When they auction the car on your behalf, there's fees. So if car is sold for R100k, it doesn't mean 100k will be credited to your account

[@pearlngcobo3717]

Hey Muzi. Please consider a video on the effects of paying deposit at the beginning, when you first purchase a car over paying that deposit/ lump sum after the purchase.

[@Serpa_518]

Yes that would be interesting

[@subshamase8159]

I also would like to hear what the best practice is on this part. I've had so many people tellig me to save the deposit and just do a lump sum after purchase

[@hemiahjrkhumalo3610]

To be honest I don’t see the benefit of a hefty deposit ( you only save like 3-400 pm) I’d rather take the 40+ K and put it in a unit trust /ETF for the duration of the finance term

[@IAmQuinton]

kzbin.info/www/bejne/fqDYlWSYnr-Lh68 I think he mentioned some points on this video

[@Anelecharles]

Ngfundze lokuningi just buy watching this short video. This channel is not only about car reviews but it also gives great advice, take it at your own risk though as the guy mentioned that he's not giving you financial advice and isn't qualified to do so

[@Bjm365]

Bro, this is sheer wisdom! For a moment I felt like you've copied and pasted from my brain 😩🙆🏾‍♂️ Kodwa jokes aside, well done nduna. This is particularly very important information for our especially black society. We love living beyond our means and cry "devil" and "witchcraft" when sh!t hits the fan. Thanks for empowering us bozza🤜🏾🤛🏾

[@tshepomokholwane5528]

We meet on the streets of CapeTown and on KZbin Avenue😜 mr Benji. This brother is dropping wisdom nuggets and I'm starting to think it's a polo driver tendencies like you but asikho lapho.

[@clintonhlongo1000]

I've learnt a lot here. Ni khensa vutivi lebyi bya mahala

[@thamsanqazungu3953]

Man I've been following your channel for months now and you're gradually expanding my thinking capacity. Anyway thank you for your useful information and knowledge. 🙌

[@EdwardNale]

Yoh, the way I watch your videos, it is as if I am about to buy a car in the next two weeks, that time I'm only a student.😭

[@abdeshpa]

This is an amazing channel, Muzi. The info and humor is next level. Totally like your way of delivery.

[@akhalumbi4177]

even If you do not know the Liquidity wara wara or Turbo charged and natural aspirated what what …. when you tune in here you know you will gain more information than you gained on your first year in varsity 🔥🔥

[@mishumobohwana6174]

This man does not miss on the important stuff …

[@Holding0-6]

Very Informative video, as always. Thank you. By the way you cracked me up a lot even though you said this vid was serious

[@mogautladi2819]

Thanks for the wisdom, bro. We desperately need this knowledge. The expensive cars and materialistic lifestyle is slowly destroying black South Africans, shem! 😟

[@l-geel-gee8348]

Financial education at its best, well said Muzi 👌🙌

[@tshepisomooketsi8053]

1 minute in and I'm on the floor 😂😂😂🤣🤣😭😭. Wa re o etsang makgowa!? 😂 And then he says today I'm serious no silly jokes when he knows he's delivered knock out punches 🤣🤣😂😂

[@lloydndlovu2116]

I had to revisit this video🔥he is too much🔥🔥

[@sheriffmkhabele3074]

Always the best content towards everybody, most importantly, the working class.

[@BrianWilliams03]

As some point the truth has to be told even when it hurts. 💯 in most cases people are failing to downgrade or take the car back to the bank because they are thinking about the society standards they set themselves 💯 you'll hear some saying they won't take the car back nor even take an effort to make arrangements with the bank, they keep quiet due to pride and don't even ask calls from the banks which makes things worse

[@sonwabilearthurmazungula9197]

I have been searching for a detailed topic like this Muzi. Keep it up, bro!

[@josephmbiba1232]

This was very helpful, my wife and I are owning a picanto, and the car installments are showing us flames, we are even thinking of returning it back to the dealer

[@isaaco_m]

Taking it bank to the dealer may be a costly option because you are surrendering it and that will taint your credit record. If you were to sell it privately, how much would you sell it for? What year is the model?

[@tshepomoletsane9764]

Watching your videos after Mashabela podcast. Great content as I hit the subscriber button.

[@lunganingwabe2261]

The numbers 1 automotive KZbinr in SA!!

[@glenmoepi9635]

Muzi On Point as Always....Congrats bout Winning the Dstv Awards...

[@kabassuemmanueltambwe4940]

My man thanks a million I take my hat off for you... Great eye opening...

[@KeiEmm_Creatives]

I am glad that I came I crossed this before I could get to a point of messing up my life.

[@erickmabunda540]

Sester lost his job 2019 while still owing the car she was driving, hoping she was going to get a job soon she kept the car until she couldn't pay, fast forward the bank took the car, and she still owed them..she later got a job, payed off everything and save money,she asked me and my brother to go buy her a car that will take her from point A to B we went and got her a car that was still in great condition at we buy cars it's been over 2 years now the car is still running NYC...dude she is so financial free I can't help but admire...I would really advice saving then deposit for the car you want or buy it cash if you want

[@christianchase5038]

Taken in my City Mbombela, East view BMW. You're always helping us in many ways.

[@athenkosisilandela4202]

Man I’m glad I discovered this channel

[@wezilebonani]

Superb work Tata, like I said your Financial Advice is tops

[@vusmuzimasilela2358]

Never thought i could enjoy car content like this damn you Muzi😂😂

[@lindilebangose7667]

True, if you let material things define cause you will have problems the minute you lose them.

[@leeroyduncan4610]

I don't have a house,I'm driving a rusty bakkie,one thing I make sure off is invest tiny when I do contract work abroad.....I'm hoping to do this for 2 more years till we get out of this recession

[@sifisocaswell5454]

PROFESIONAL. i once advised a friend to pre-downgrade on the choices of cars he was opting for but hey he went for a VW GTI Like the lemmon🙂 and he only recalled my words after 8month of ownership and it was then that he went and read his contract😪, BALLOON PAYMENT, PLUS THE INSTALLMENT OF 12K BARRIED HIM. ITS SAID, IT WAS REPPOSSED

[@silindilemthombothi4699]

Please consider doing video about buying a car on Auction. I know it is considered profiting from one person’s demise but i’d like to hear your views.

[@icanexplain6629]

Chief you made my day, bikes and biltong. I'm going to subscribe because you are one of the few black human beings that I've listen to that don't speak crap. Keep it up chief

[@matodziprincessramatshimbi2403]

Always sweet short and straight to the point

[@mositosolomon6441]

😄👏👏 yah, you were very serious. You are a gift that keeps on giving Muzi 💥💯

[@lebohanglebeko2450]

Eish grootman when times are tough, we must do what must be done! It's unfair that I'm seen as a bad person after voluntary surrender though! It's not like I wanted to be in a bad financial position mos!🤷‍♂️🤞😤🤨

[@ongamamanyase8049]

yarreee man wena. Literally the first few seconds of the video and I'm cracking up. The problem with biltong is what...🤣🤣🤣 I enjoy your content man, I watch a lot of car reviews and related topics. I'm super glad I found a great content creator about such topics from my own land. Educational and funny as hell, its the perfect combo.

[@planetescapemusic]

You’re videos are very informative brother. I wish to know what are the disadvantages of purchasing a car from an auction?

[@MuziSambo]

Auctions covered here 👉 kzbin.info/www/bejne/e4akmod9gdqkpc0

[@RicoXenn]

1 thing I have learned in life😗 is that expenses and suffering will always be there as long as you're living on this planet. and that's why I tell my girlfriend I don't want kids. (N.B: I'm 21💀💀)

[@motlatsigeoffreynkoebele3188]

Mara that background song is fire, jelas down🔥🔥🔥🔥

[@thapelophele7853]

Thank you for this. I'm learning at a younger age.

[@farisaniinnocent6756]

The repo option is very messed up heyy, in terms of all the costs you have to pay(lawyer, storage, fixing the car(if needed),etc) and in a case of a shortfall after auction they will still have to chase you to try recoup the money(They can take the lawyer route again or other route).😢

[@ntokozomnanzana6198]

Your videos are amazing and your sense of humor✌️

[@sanelemngadi9324]

Thank you for the life lessons and financial advise you give us, it is much appreciated

[@fuzilemakhathini3719]

amazing commentary malumz

[@blue.75photography38]

For heavy installment car it's depend on what you want you utilize it, As asset I say go for it But as liability don't unless you're in good financial status

[@NgolaNalane]

Do not buy a car with heart also. That can be a tough thing to do but it's better than buying something you can't afford

[@nkosikhonabongumusa7102]

Grew up with nothing, but when working we want to have everything at once. True hey.

[@mr.teamayas7272]

Good work Muzi you are giving us facts Mzansi style, I've learned that it's best to be honest with thyself and properly analyse research before jumping into these situations

[@maps_t6059]

this channel's growth 🔥🔥

[@xolanidumakude9177]

Soccer players need to hear this as well....

[@melodygininda1839]

So I watched the video with my seven year old , am like , are you choosing this video cos you love BMW or u love the content, he responded, mommy I love the content, at the end , hayi ashaye tandla so😂😂😂😂day made . Thank Mr Sambo

[@princemadileng7950]

This is some very insightful advice man💯💯

[@tisanawealth9036]

As for Biltong and chappies, you killed me🤣🤣🤣

[@retroFUNKINgroova]

Mr Sambo this is a high value content channel. Awesome 🎉

[@Mashukumbela-M0N3YF10W]

first time in the channel is fire 🔥🔥🔥🔥🔥🔥🔥

[@siphephelomyeni3052]

You were serious indeed🤣🤣🤣, I respect you man🙏

[@israelkhuliso6249]

Nice content 🤞🏼when are we getting Audi A1 cost of ownership video😊

[@sabelombelebele7930]

I dropped off my car at NTT EL and took a taxi home same day. I told them I'm done with this car (Peugeot GTi 308) and bought an automatic polo Vivo. I will be paying off my that car next year march within 3 years 5 months.. Best decision ever.. I could afford the instalment for that Peugeot but the maintenance cost were taking me to the cleaners mara..

[@dudettethechicklet2828]

People buy Peugeot? 😂

[@everythingeducationsa5051]

That biltong joke cracked me up 😂😂😂…thank you for the content Bhuti

[@masjter]

At this rate you going to end up being our president boss. We appreciate you.

[@victorwilliamlemphane8507]

Boss adivice ma broe. Keep up the good work. Showing bills flames

[@bonketshwane98]

another wonderful insight you have shared👌

[@MarkBetterDev]

😂😂😂😂i love how realistic this men is🤣🤣🤣

[@ngwatyusiposethu1537]

Enjoying the videos man!

[@rasekeleleon3597]

Thank you for the information, and great sound man..even forgot the old one