“Don’t Rush Ko Skoloto”: Car Salesman Reveals Which Cars You Can Afford on R8k Salary

• TikTokker @lisojika1, who works as a car salesman, shared valuable information showing which vehicles are within the budget range of South Africans earning R8,000 per month
• In the clip, he revealed that Toyota Corollas, VW Polos, and other popular models can be financed on this salary, though he doesn't specify whether these are new or pre-owned vehicles
• South Africans flooded the comment section with mixed reactions, with some seeking advice on their car-buying prospects while others cautioned against rushing into vehicle debt

A car salesman is helping South Africans make informed vehicle purchasing decisions based on their income. Content creator @lisojika1, who regularly posts videos about car affordability on different salary ranges, has shared which cars someone earning R8,000 monthly can realistically finance.

In the helpful video, the car expert showcases several vehicle options that fall within the budget. He indicates that popular models like Toyota Corollas and VW Polos could be accessible, although he doesn't provide specific details about the exact models or whether these are new or pre-owned vehicles. These insights come at a time when many South Africans are trying to navigate the complex world of vehicle financing with modest incomes.

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Watch the TikTok clip below.

Understanding car finance options

For those considering purchasing a vehicle on an R8,000 salary, understanding the various financing options is important. According to financial experts, there are several approaches to vehicle financing in South Africa. The most common is an installment-sale agreement, where you pay equal monthly installments over a fixed term (typically 12 to 72 months), with the bank owning the car until the final payment.

Another option is an instalment sale with a balloon payment, which reduces your monthly payments but requires a large lump sum at the end of the contract. Additionally, some buyers opt to use a portion of their home loan if they have an access facility, as this generally offers lower interest rates than traditional car loans.

However, experts recommend carefully considering additional costs beyond the monthly payment, including insurance, fuel, and maintenance, before committing to a purchase.

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South Africans share their car finance experiences

@Madam123 warned:

"8k my advice is not to rush ko skoloto sa vehicle. It comes with extra cost. fuel, insurance worst some insurance will demand tracking device. Think twice."

@User123 asked hopefully:

"I earn 5.5k after deductions, do I qualify for 2024 BMW 320i? My credit score is 395."

@SophieMakwaMckenzo inquired:

"My score point is 588 what can I get?"

@WinstonNameng requested:

"I earn 14k but my credit score is a bit low, is there any way you can help me?"

@Zaffa_Surf🇿🇦🇿🇦 shared wisdom:

"I saved 80k and bought a car for 60 and spent 20 to fix it. I now live without cat payments. I can sleep and I can eat."

@user1154305080100 asked:

"I'm self employed, my business is reg, don't have a pay slip... Do I qualify?"

@BongumusaSibeko advised:

"If you earn 8k, lose the excitement and save money. Then buy a car."

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More car stories that capturing attention

• A young woman's birthday celebration turned heads when she treated herself to a vibrant orange luxury SUV, documenting the significant moment at a Durban dealership and inspiring many female followers with her self-made success.
• Briefly News also reported on one proud mother who created a memorable moment for her toddler son at a premium car dealership, complete with celebratory balloons and an impressive toy vehicle that had social media users planning similar experiences for their children.
• South Africans found themselves laughing at a relatable comedy skit about second-hand car ownership, with the content creator's humorous portrayal of how people treat their used vehicles sparking a wave of shared experiences in the comments.

Source: Briefly News