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

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All you need to know about car finance when buying a car in South Africa.

[@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

[@zuludoesit]

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.

[@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 “?

[@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 🙏🙇‍♂️

[@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

[@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.

[@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!

[@joney654]

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

[@tzavula_the_president]

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

[@tebohomathe3462]

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

[@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🔥🔥😭😭

[@ayandandwalane3784]

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

[@MasterAppels]

I love the Naked ad. Get that bag!

[@bulelanibotman]

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

[@simplyceceeqoza4779]

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

[@bonolomekgoe8958]

This channel deserves more recognition.

[@Phano_Styles]

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

[@sivuyilemahamba7765]

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

[@trigganasty]

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

[@lekgwarengsehlodimela572]

It's about time you got a sponsor

[@CeePhore]

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

[@jasonjohnson905]

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

[@mtokioros4932]

👌🏾 Clean and informative.

[@lebogangtsutsa691]

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

[@jackie7239]

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

[@footballbar12]

The best to ever did it🔥🔥🔥

[@thapelomonama8066]

Very informative, thanks man!

[@KellieCarol]

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

[@sibongilemabaso7579]

Every informative, keep on making such great videos.

[@tumeloolifant-jv7ir]

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

[@TholakeleSkhosana]

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

[@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.

[@jerryseakamela]

Keep up the good work Muzi

[@kenpai314]

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

[@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

[@mattgraver3604]

So much valuable information in this video, dankie bru

[@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 .

[@sphamandlayende1510]

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

[@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

[@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 😊👌🏽

[@thatoseoposengwe4449]

Muzi is thee GOAT!!!

[@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.

[@borismkhwanazi583]

Awesome content Muzi

[@alimotshehoa3381]

Good information, thank you Dr. Muzi.

[@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"

[@_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🙏

[@thabisombonda8717]

My teacher, I salute

[@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

[@GregoryMkhaya]

I love this Channel

[@_trevormmolawa_77]

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

[@KinomaroMakhosini]

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

[@remofilweseforwe4315]

Thank you for this video!!!!

[@phetoloselby]

very informative danko bhuti

[@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.

[@Nothingbutskill1]

great video my man !!

[@ayandadlamini9043]

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

[@MuziSambo]

You won't regret😉

[@thapelosethaiso6196]

Very important content 🤞🏽

[@rolandmalebogo]

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

[@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.

[@sunflawa]

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

[@tebogomolamudi6839]

Dankie Bra Muzi.

[@josephdoctor6423]

Great advice

[@Xiluvaangel]

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

[@PulengMaja-ur3tr]

Muzi Sambo is the dealerships worst nightmare☝️😂😂.

[@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

[@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?

[@king97lama]

Danko Dr M

[@La_Mavimbela]

Thank you ❤

[@tshegofatsoseranyane8718]

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

[@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.

[@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🙏🏽😊

[@rhandzuu5618]

Informative channel

[@ngonidzashekimbini7177]

Nice....Thank you

[@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.

[@helenpage7768]

I hope you can cover content for the car : OMODA C5 1.5t 230t Lux. 😂I love your channel.

[@andiswasilikane4347]

Can't wait

[@spacewalker1494]

Thank you very mutch ❤🎉

[@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.

[@bryansinqadu794]

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

[@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

[@robertonkiwanekingroefx5113]

muzi you are a G

[@lourenstshabalala2923]

Subscribed ✔️

[@alfredmavuso9835]

Thank you Mj

[@rangongoantoni9744]

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

[@Miss_Buda]

Yes please 🙏🏾

[@tshepobatiane8426]

Thank you

[@zikhonasiswana2719]

I'm here to stay❤

[@tamarelouw]

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

[@songezongam2930]

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

[@MuziSambo]

kzbin.info/www/bejne/pJqpomCLf7-aq7c

[@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)

[@esihlephindilehlongwane6728]

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

[@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

[@LebohangMathe]

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

[@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

[@MR_KB_6.3]

Dankie baba

[@duveymaphopha9644]

Hi Muzi, can I please get the review for the new Hyundai grandi10 sedan. Thanks