How to deal with heavy monthly car expenses - (Downgrading, Surrender & Loan restructuring)
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- Опубликовано: 20 сен 2022
- What to do when you can no longer keep up with your monthly car loan payments?
1. Downgrade
2 Restructure your loan
3. Cut down your other living expenses
4. Surrender the car to the bank 
Авто/Мото
This was deep.
I need Brostrol to clear my throat.
😁😆This comment is underrated or my mind is just dirty🤗
@@MuziSambo you need brostol
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.
Heita
Just saw your comment, I am interested in the property aspect, mind sharing. Would be very glad.
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
Jokes aside I really appreciate the knowledge that you're dropping in videos like these. Thanks.
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!!
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.
You are Mamelodi Sundowns of car content creators 👏🏼👏🏼👏🏼
From: Khosi Fan✊🏾
"Don't let material things define who you are" at this point Muzi must write a book. What a genius.
Okay biltong is amazing man😂 but I agree with you on the bikes and boats
It's literally my favourite snack
Biltong is too nice maahn🤌🏽🤌🏽😅
😅😅😅😅
I will never understand how someone can spend R50k on a bike
👏🏾👏🏾👏🏾, you are a great teacher Sir, we learn so much more from you than financial advisors and accountants. Keep it up.
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.
You should make a RUclips channel and talk insurance. 🤞
Yeses! I didn’t understand why my swift insurance premium was so high until I sold the car. 😂 Thanks for this.
@@khanyi_honey02what happened?
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.
The views of this channel mostly align with mine: Make financial decisions that make sense to YOU!
This is the reason why you won the award, quality content!
Thanks, bro!
You're dishing knowledge that'll save millions from bad financial decisions.
I love this guy's sense of humour
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.
Awesome advice dear brother
@@AlfaAbdulGafur sho mfana 🤜🤛
👋🏽👏🏽. Yahneh. Downgrading must be one of the hardest things to do. Personally, I prefer the idea 'pre-downgrading'
I'm glad that I learnt about downgrading the hard way early on in my life and it has changed my perspective on things
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. 🙌
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" 🔥
yoooo hayi this car channel is hands down the most educational
This is an amazing channel, Muzi. The info and humor is next level. Totally like your way of delivery.
😂😂😂😂your sense of humour is out of this world
Always the best content towards everybody, most importantly, the working class.
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
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.
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.
Things they should be teaching us in school.
Very Informative video, as always. Thank you. By the way you cracked me up a lot even though you said this vid was serious
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🙏
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 🤛
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🤞
This man does not miss on the important stuff …
Thank you for the life lessons and financial advise you give us, it is much appreciated
We have no competition on the net! Keep up the work 💪
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.
Always sweet short and straight to the point
My man thanks a million I take my hat off for you... Great eye opening...
Taken in my City Mbombela, East view BMW.
You're always helping us in many ways.
I've learnt a lot here. Ni khensa vutivi lebyi bya mahala
Man I’m glad I discovered this channel
This is some very insightful advice man💯💯
I needed to hear this. I love my car. Let me start with Loan Restructuring... If it fails, then Downgrade will do, coz wow....
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.
The numbers 1 automotive RUclipsr in SA!!
Enjoying the videos man!
😄👏👏 yah, you were very serious.
You are a gift that keeps on giving Muzi 💥💯
Thanks my brother I’m going through financial difficulties but you’ve just taught me how to make the situation better 🙏🏻 uNkulunkulu akubusise
Superb work Tata, like I said your Financial Advice is tops
Your videos are amazing and your sense of humor✌️
Nice one bro! Very informative and most importantly very very REAL.
Financial education at its best, well said Muzi 👌🙌
Thank you for this. I'm learning at a younger age.
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 🤣🤣😂😂
Thanks for the wisdom, bro. We desperately need this knowledge. The expensive cars and materialistic lifestyle is slowly destroying black South Africans, shem! 😟
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
Wisdom and Knowledge right there Mr Sambo 👊🏾
thank you brother we appreciate your advice. it'll really help us to take wise decisions.
Muzi On Point as Always....Congrats bout Winning the Dstv Awards...
this channel's growth 🔥🔥
amazing commentary malumz
Content we subscribe for. Brilliant 🙌🏾
Mr Sambo this is a high value content channel. Awesome 🎉
This was amazing content! Keep it up Mr Sambo!
Discovered your channel today and I am hooked. Keep it up 👍
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
You were serious indeed🤣🤣🤣, I respect you man🙏
I had to revisit this video🔥he is too much🔥🔥
What an inspiration my brother❤✨️
As usual your videos are fire thank you
Never thought i could enjoy car content like this damn you Muzi😂😂
Thank you for the information, and great sound man..even forgot the old one
I am glad that I came I crossed this before I could get to a point of messing up my life.
Watching your videos after Mashabela podcast. Great content as I hit the subscriber button.
Thanks bozza. We learn so much from this channel
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
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.
Yes that would be interesting
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
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
ruclips.net/video/Houd1biZXQM/видео.html
I think he mentioned some points on this video
serious mood for serious topic!!
You are a wise man.
Boss adivice ma broe. Keep up the good work. Showing bills flames
Hai Shem!!!!
Pure genius
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
That biltong joke cracked me up 😂😂😂…thank you for the content Bhuti
another wonderful insight you have shared👌
True, if you let material things define cause you will have problems the minute you lose them.
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 🔥🔥
first time in the channel is fire 🔥🔥🔥🔥🔥🔥🔥
No wonder your channel is growing exponentially
Very informative Muzi 👏🏾 🤝🏾
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🤜🏾🤛🏾
We meet on the streets of CapeTown and on RUclips 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.
Very informative, thank you.
This channel is best
Thanks Muzi for another informative video, am not sure if you have previously covered topics around add-ons that these dealers force us to take when purchasing on finance i.e. warranties, chips & dents insurance, is this a must when you take finance?
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.😭
As for Biltong and chappies, you killed me🤣🤣🤣
Mara that background song is fire, jelas down🔥🔥🔥🔥
No silly jokes Njani 😂 wen I’ve been laughing since the beginning but it was really informative as always king
You a whole vibe man😂🫵🏽👊🏾
🤣🤣🤣 I am new to this channel, I am new here but just fel in love with the introduction and caution ⚠