“Total Rip-Off”: SA Outraged As Lady Stuck With R2,500 Payments for 8 Years on Car Installment
- One woman is faced with a monthly installment for eight years after putting down R200k deposit on a vehicle
- In the video shared on TikTok, one can see the hun's receipt, and the clip gained massive traction
- Social media users were unimpressed by the stunner's story as they rushed to the comments to express their thoughts
One lady in Mzansi is going through the most all in the name of acquiring a car. She shared her story, and people were left in shock.
Source: Getty Images
Woman faces R2.5k monthly payments for 8 years after R200k car deposit
TikTok user @usizilomuntuomnyama narrated the woman's story. The gent shared an image of the lady's receipt. He revealed to his viewers that the stunner's car cost R340,000, and she had to pay R200,000 as a deposit.
@usizilomuntuomnyama said that the lady's interest rate is 14%, and she has been stuck with R2,500 in installments for eight years.
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"Can you believe it? The current outstanding interest is over R116,000! The difference between the principal debt and the accrued interest is just R50,000. This is a total rip-off!" The man wrote on his TikTok caption.
Take a look at the woman's installment payment.
Mzansi reacts to the hun's story
Many people were shocked at the amount the woman paid for her car, and they took to the comments section to express their thoughts.
TK suggested:
"Don’t put a deposit on a car. Apply for car finance, neg a reasonable interest. Take your car, pay the first instalment then second-month pay that R200k into your car finance, it kills the interest."
MotlatsiSibane added:
"There's no way I'm paying 200k as a deposit, that amount must get me something cash."
Tumelo tlhame expressed:
"R200k? bro you can get two good cars at an auction."
Shandu_kani shared:
"I remember when I was buying my car, I paid a huge deposit thinking it would go towards finance & when I checked my invoice, it was a different story. That deposit goes towards the dealership."
shandu_kani wrote:
"I remember when I was buying my car, I paid a huge deposit thinking it would go towards finance & when I checked my invoice, it was a different story. That deposit goes towards the dealership."
Nomhle commented:
"Someone I know bought a car that costs 380k. She'll be paying R7900 monthly for 6 years plus a balloon payment of 131k at the end. I'm still traumatised."
SA applauds Gqeberha couple for returning the car to the dealership
Briefly News previously reported that a couple in Gqeberha boldly decided to return their car to the dealership and shared a video online that went viral.
It was a sad day for a lovely couple who uploaded a video on TikTok showcasing how they returned their car. The expensive monthly payments required to keep and maintain the vehicle overwhelmed them, which led to the decision.
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Source: Briefly News
