I applied for a used VW Polo Gti | My Interest Rate | Cost Of Ownership | Price Review | Car Market
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- Опубликовано: 3 окт 2024
- I figured it’s time I got a new car , so I went and applied for a used 2022 VW Polo Gti with a mileage of 18 000 KM.
In this review we discuss just how expensive cars have become , we talk about tips for car buyers and I share the interest rate I was offered on the Polo GTi I named Boity.
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Why isn't there anyone doing these kinds of reviews with houses and real estate in RSA?
Please do a detailed video about trading in a car
All the processes involved also make a example if possible 🫣😊
I’ve subscribed because this video to me is just inspiring cause u just bought a car i also dream about and want to own💯. Congrats King💯💯🥳
I mean gti because my keyboard it’s not make sure ✔️
Please follow me too 😊
Rather buy what you can afford. Buying things on credit is how people become poor.
Scary to think someone at the bank thinks you must bow down to that crazy interest rate, and have the audacity to say they are doing you a favor!!!!
People are getting ripped off, and I'm glad you highlighted this.
Thanks for the video, and valuable info!!!!
🤢🤢🤢🤢🤢🤢🤢🤢🤢
Great vid, really enjoying your content!
One thing I wanted to add that really annoys me when buying a car is the added "On the Road fees"! Such a scam... On your invoice there it was a total of R10500!!!! They want to charge you R5000 for 'Delivery'???? Are they going to deliver it from JHB to CT or something? That is the only reason that would justify that in my mind. And the R4500 'admin costs' and R1500 'registration', you can both yourself for less than a grand. I've cancelled deals before because those fees were so ridiculous and if they won't scrap them or lower them significantly then I also walk away, they are already making a profit on the car and getting kick backs from the bank for the finance so they don't need to milk it even more - like charging for smash and grab that is already on the car!
Great video. Car prices are ridiculous. R8899 finance, + R3000 fuel + R3500 high risk vehicle insurance = R15,399 P/M roughly... whew
I like how you put things into perspective by explaining engine displacement vs Kw output vs Price. Having driven the polo GTi, I only have 1 issue (apart from issues mentioned by Muzi): it’s uncomfortable on a long trip.
That's interesting I've always secretly wanted a Polo GTI, I have Cross Polo and it's amazing long distance (put 215/45 17 Tyres on instead of 40's and its even better) That's a deal breaker unless I own another car for road trips.
Did you tweak your suspension? VW is the master of comfortability
So the GTi is a sports car and traditionally sports cars are not made for comfort. I hear what you are saying about the suspension but it will never be as comfortable as a normal Polo or Cross Polo. The suspension is quite tough and the seats are also a bit tougher than normal. I guess you have 2 options: Buy for Speed or Buy for comfort
@@sambowkshow does it look with the 45’s instead of the 40’s?
Maybe it's preference but I have driven 8 hours straight in mine with just stopping for fuel. I never once felt it was uncomfortable as an 80kg male... but definitely not as comfortable as the Golf 7 tsi I once had.
Mr HowMuch! You're a stand up Guy and I appreciate this video - I admire your views, thoughts and reasoning for saying no to this deal. 1 day is 1 day that you'll drive your hearts desire.
There's no way you'd have bought a lemon, Muzi would've came for you 😂😂
Most definitely 😂
Dr.Muzi would have trolled him and the dealership.😂
Not every polo gti is a lemon guys
the first batch released early was the lemons.
I blame him
Good on you for not falling for that dealership's tricks.
You're a good bloke mate. You're doing such a great service for young men in being responsible with their spending. I've subbed!
R200K in extras is absurd. I'm convinced Audi sells the car without an interior and steering wheel.
LMAO they must have seen that we are morons, we are willing to pay for anything
Even more ironic when you realize that on the more expensive cars, most options come standard.
Very wise move Bongani, for not buying the over priced lemon.
People buying demo or second hand, check what the dealership are loading to your purchase price. I recently bought a second hand vehicle earlier this year, guess what they also tried and loaded a smash and grab on a car that already had it and other added products, I refused to pay for extras except maybe warrantee. Do not be desperate despite how good the vehicle may look. Try to negotiate, the dealers are also desperate to sell the car.
Never buy a car without a discount, thats my advice. Smash and grab should be a free incentive not an extra charge. Walk away fast
To be honest bro you chose wisely!😂😮
I took a preowned Ford ST fiesta and I tell you it’s almost as powerful as this and I have manual which is best 😤
But the fiesta is way to go preowned of most of these models 😊
It's fast
ST is quick as fck
I don't care that you did not buy the car. I did subscribe and like because you were transparent and honest. Which I need for me to gauge what is happening in the market, which I assume is the point of the channel.
I love you so much ❤❤ the moment I saw 15.75% linked (worse), meanwhile having put down a whole R100k Dep, l was so pissed Sana.
I am actually happy u didn't buy it bro 🤜🤛🔥, there is something better waiting for u out there .
I've been in the polo 8 Gti. It's so nice. It must have been tempting to just buy it and deal with the consequences later😂
That's why I like your reviews bro, honest and no emotions involved in the decision making 😂. Don't worry you'll get a better lemon soon 🍋
Great video and total sense in not paying the absurd interest rate...
By far the best video simply because you dropped serious knowledge after getting us hyped of course 😅😅😅…seriously though that was well executed and very informative 👏🏽👏🏽👏🏽…well done MrHowMuch well done…
Yeah no 15.75% 😂😭 what a joke. Well done for pulling out of that madness
15,7% nah thats too much
but thank you for the headsup Mr Howmuch
watching from umlazi🎉
I was offered 18%😢😢😢 yooh im not that desperate
Muzi watching this video proudly in the corner 😅😅
I was hoping you’d buy a MK 7.5 GTi since its the second most popular VW video in your channel
The one with 75000km’s, out of service plan?
@@sizwedinisesoko obviously not the exact car. There’s a lot of 7.5 GTI up for sale
Bro you've made a great decision.....that car is beautiful though😍
Good.. Knowing when to walk out of a deal is commendable
When they tried that nonsense of making me pay for an anti-smash-and-grab in a car that already has it, I told them to remove it as I had never asked for it. They removed it and then I also asked them to remove that ridiculous delivery fee nonsense. Sawphela zi dealers
Appreciated content as always
Definitely need a mustang review
Thanks for the knowledge my man alot of people fall for that trip thank u for the exposure man 😊 of how we are ripped off daily
Excellent video... Very informative, educating our people on cars. Alot of people in financial troubles because of not paying attention to prices
The realest video. Great content.
You should have used the 100k to negotiate with banks yourself once the dealership has made you an official offer. Never allow the salesperson to do the application, that's how you end up paying for things you don't know about.
buying a car right now is generally a bad deal. 1. used car prices drunk on inflation, 2. borrowing rates at the highest.
got Sandero at 10.85% fixed in 2021, wrote it off and then got Fiesta at 10.0% linked in 2022.
I was looking forward to seeing Boity 😢
Nice vid as always, one day you'll have your boity for sure!
Congratulations MrHowMuch!❤️🔥
Lmao they were trying to scam you😭😂
5:36 Yes! Even though I've driven a lot of them because I work for a small Rent-A-Car in California. I just want to see the difference between the US spec🇺🇸 & the SA spec🇿🇦 mustang
@MrHowMuch do a ford Mustang review my man. 5.0 GT specifically :), Rent or Lease my bro; Not buying it the VW, "was the right thing to do". Maybe upgrade the Fiesta with a ST (Fiesta or Focus). Or go wild with an RS bro :)
No worries bro , The Ford Mustang Special is on the way.
Congrats on your purchase! The car based on current market conditions looks like a good deal.
ai ntwana u made my day .... when you threw in a throw back of the old gti i was finished
I will still go for the gti. Its even cheaper to maintain in the long run.
Anything that we buy using credit we pay more so I would have took it /especially if I have no other car
Great video...
I blame Muzi for this deal breaker😂😂😂😂😂😂
Great educational information for us interested buy used cars.Still insane audi costs 200k.Polo gti manifest buy one day
I think the best thing about this video was hearing you say no to the installment deal based on the high interest rate. Young black South Africans need to learn that cars make you poor. And even with your professional degree and your 1M apartmemt in Midrand you will always be poor and remain a slave if you buy fancy German cars to make you happy or reach your childhood "dream".
German cars are slowly getting out of south Africa they too greedy thy will go n drive those cars in Germany when thy price a car it's like thy are thinking with there asses, that's y Americans don't drive there cars
@@mogomotsinester2538 You are so right man. I mean spending R1m on a Golf is just crazy. The prices don't make sense anymore. I think the Chinese cars are much better value for money. Let's see how they fair as time moves on. Plus with VW going fully electric in the near future they can keep that for themselves. We don't need that shit hear in SA.
Thank you for this video. Eyes wide open!!!
You read my mind 😂 i was already thinking Haval HEV or Tigo 8 Pro Max...best value for money in comparison to the Audi, Merc and BMW you mentioned.
I'd go for that Polo GTI.
You lost interest because of finance interest 😂😂😂
Great educational content, mfo! And well done for following your head over your heart on that GTi deal. There will be others, mostly at SMD, if you know what I mean 😁😁😁
Traded in my BMW 3 Series Mzansi Edition and got a 2023 Hyundai venue N line saved myself I've had it for 4 days and I'm enjoying it so far especially since I'll be paying 7.5k installment instead of the 17k I was paying on the BMW 😂
How much was your shortfall?
The higher the interest rate the dealer put forward, the bigger is the amount of kick-back in rands for the F&I person. It is just another way f upselling from the dealers in order to tap the most amount of money during a transaction. I have been buying cars through finance for many years and have a credit score above 800 and the local VW dealer presented me with an interest rate on a new VW, I declined the offer because the rate was to high. Then my son bough a used Polo from a used car dealer and he got a better interest rate than I did. New car prices and finance companies needs a make-over and a serious one.
Can the dealership provide you with the approval document from the bank, showing the details of the approval, including the approved rate, linked and fixed? Then you choose for yourself.
Where was this video when I bought my car 🙃
Mr howmuch great work bro and congratulations on your new boy and Iam learning how to become a car journalist one day keep it up bro
Great buy Di bongz🎉. Colour and looks it's a stunner. It's been a while since I watched your review. Yihle baba
Fact is, that was great interest rate, it’s about less than 2% above prime rate, unless if you have crazy high credit score and history, you can’t easily get below prime on movable asset
Congratulations bruh❤🌧🌧it's blessings
05:39 Next time, perhaps get a quote from We Buy cars first. We were advised by aa Merc salesperson and when my wife did so, she got a better price than what Merc, BMW, Audi and VW were offering (these were the brands who's cars we took for test drives)
@MrHowMuch dam I wish you had asked. Never ever tell them you putting a deposit! (unless you have to financially). The banks use this against you. I've financed many many cars. Max everything you can, balloon the works. Even use the "special plans" and ask what you can/cant do. That's how you get the interest rate right down. Prime minus stuff. But you must understand what you are getting yourself into. Once you have the car for like 1 week, you put your "deposit" into the finance but you decide how to allocate the money (I think we can thank Zuma for this, you cant be penalized for paying off debt early in 99% of the cases. In this case you not paying it off completely). Make sure the insurance knows how you financed the car.... shortfall, balloon,residual etc. Then you ask the bank/finance company to recalculate if it affected more than the balloon etc. Then you can adjust the insurance to suite. PS: I just sold my Polo GTI for an Amarok (BF Special)
Congratulations 🎊 👏
You clearly didn't watch the whole video
não tá ruim como no brasil , que pelos 600 mil rand (155 mil reais) leva o GTS 1.4 150cv , e quase 900 mil rand o jetta GLI (golf muito mais completo).
MrHowMuch I can't believe you were that close to buying depression and a lemon. Mara that plot twist was the one yoh😂. So i take it that Hinata is still your daily driver. But yeah the Polo GTI looks amazing damn😭. That interest rate was insane so props to you for saying "no ways"🔥🤝
that navy/black MK6 in the backgrouind..... hell ain't hot enough for people who do that
Congratulations ❤❤❤❤❤wish you all the best 😂😂😂
Best decision ever. Bro you saved yourself some headaches
All in God's timing. We'll get our Boity, you'll see.🥂🕯️
Congratulations Mr howMuch 🔥
I CANNOT AFFORD THE AUDI A3 BUT I WOULD DEFINITELY TAKE BECAUSE IT IS JUST SO SLICK
AND EXQUISITE
100k extra I'd go for new. I still don't trust the DSG boxes reliability long term and we have no idea what repairs the previous owner did. But that's just me...save up a little longer and buy new
speaking of buying affordable cars, please review the new corolla hatch... eyi as a first-time car buyer that is where my eyes are at now...
thank you Mrhowmuch for the tip. now we will look like professionals when we go and buy boity or her sister
Here I was being happy kanti weehh that is lemon of car..... Imagine paying for smash and grab while it's already fitted that's wild Mr HowMuch🙂🙂🙂🙂
Great content chief. Thank you so much🙏🙏🙏.
I'm glad to see some South African content.
Your reviews are the most entertaining and unique
We bought a policy sedan 2023 auto model. After adding all the extras, we came in at R 410 100. suspension is choppy, it is not comfortable on a long drive noisy I think it is completely overrated I'm happy you did not buy the polo GTI, for commuting Aah heavy on fuel. You are not missing out on anything I know it's fast, but hey…
Look at you now. 8 months late you got it !
Our dreams are valid.
15% interest rate is madness
Lol I think you can’t compare Audi/Merc/BMW to VW bro. They’re just not in the same league and the level of prestige is just different 😂.. Great video by the way!
New car prices are ridiculous is the reason the second hand car market is booming and some people like me we keeping our old cars, we do some upgrades and thanks to aftermarket they have latest gadgets some better than factory fitted.
Please do the Ford Mustang review
Thanks for the great video but that Polo is too expensive, advice buy second hand car and fix/ upgrade and use money for asset building
One minute ago, no views, I am the view !! LOL. Another video MrHowMuch le go
😂 Thanks for being the view , enjoy the video…
@@mrhowmuch I have my car which I think you might enjoy reviewing in future bro.
Hi can't wait for the review of the new Yaris cross.
Find a low-mileage Mk7 GTI. They're very good cars! They're further down the depreciation curve so they'll have much better resale value in the future as well.
More 15,7% interest rates, that's crazy. You had a R100K deposit and you need to finance R380K,it doesn't make sense that they had to charge you so much...very wise not to proceed with the deal,stick with your Ford Fiesta bro....
Congratulations
Keep on looking bro you will get a good deal
I paid R1000 per KW for my hot hatch. Less than 90k km. 👍
You made the right decision.
Why dealerships would don’t wanna give you the retail price of the car and say let’s apply for you first and see if you qualify?
Yes please do a Ford Mustang review🙏
Definitely do a ford mustang review
Will definitely check out change cars
15% is crazy!!!!😮
It's shocking that they would charge you for smash&grab like that. I honestly wonder what they would have done if you said you want the car, but not the smash&grab...🤔
Can i ask. What percentage is ideal for any car in general
@@kgotso5699 Well it’s a very complicated matter, really depends on the vehicle you buying + credit profile. So the newer the car, the lower the ratio between buyers income & expenses vs the price of the car is very important. What this means is you as a buyer will have your credit score analyzed & your income & expenses ratio vs the price of the car assessed. The combination of the vehicle & your credit status will ultimately determine what interest rate you are given based on perceived risk. Prime lending rate as I’m typing this is at 10,75% and up to 21,38%. But it is not guaranteed that banks will approve your loan at 10,75% based on the factors explained above.
@@kgotso5699as close to prime as possible - if not they are charging you personal loan prices
@@kgotso5699 Prime at least, do not let a dealer get finance for you, do it yourself
Thanks for the advices Mr how much 👌
You almost gave Muzi Sambo a heart attack 😂😂
😊congratulations 🎊
🙃
Very Helpful Mr HowMuch
Got a prime minus 1.
Never taking anything that’s over prime plus 1.
Same, I got burnt when I was younger (and more naive/desperate!) but now if they try anything over prime + 1 I won't sign. Even at prime + 1 I will try and play the banks off against each other and get it lower.
Haven't managed prime minus on a vahicle yet but have on my bond so that's ok.
@@friggs6239wow 😢
If you don't mind car theft risk,know a great mechanic. Test the DSG GEARBOX for clunk going R D OVER AND OVER. Follow a 12km rule if you plan to give it stick... there are 7.5 between 80 and 100000km under 400000k and if you can believe this they will reach 300000km maintained and the costs are the same as a regular 2.0 non performance Golf same EA888 SAME COST OF OWNERSHIP... SAME WATERPUMP FAILURES HERE AND THERE..... This isn't very convincing is it😅😅😅
😂😂😂yey
😹Ahh MrHowMuch thank you.. And yeah we'd appreciate the Mustang Review
Congratulations man 😎
Bought my 2021 Rline polo highline dsg with with 11.75% from 13%. How I did my deal was I applied through the dealer first and they came back with 13% lowest. I said No!!! I went to my private banker and she gave me 12% because this is a second car, to those who uses private banker, they know first car is prime minus 2. So I went back to the dealer and say I am taking the car through my private bank. They asked for the quote from the banker. I shared it with them, and they were willing now to beat the private bank. It was so funny to see the sales person face after I came back with the private bank letter. We are now sworn enemies. He is no longer answering my calls 😂😂😂😂
😂😂😂nice
That is why there deals they now make through in-house financing. This is what they want to avoid. 😂