Mathoho Faces Repossession of VW Polo After Defaulting on Payments

• The Johannesburg High Court ruled in favor of Standard Bank, granting them the right to repossess Mulomowandau Mathoho's VW Polo
• Mathoho defaulted on his loan payments, accumulating arrears of R49,626, despite being notified by the bank
• Following the court's decision, a deputy sheriff was authorized to seize Mathoho’s car and return it to Standard Bank

Former Kaizer Chiefs defender Mulomowandau Mathoho is facing the repossession of his 2019 Volkswagen Polo sedan after failing to meet his monthly loan repayments.

The Johannesburg High Court recently granted Standard Bank a court order to reclaim the vehicle following Mathoho’s continued default.

Court Grants Repossession Order

In 2019, Mathoho took out a loan from Standard Bank for over R250,000 to purchase the vehicle, with the total repayment value amounting to R380,000, including interest and additional charges.

According to the loan agreement, Mathoho was required to make monthly payments exceeding R5,000, with the final payment due on the 1st of this month.

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However, Mathoho failed to make the necessary payments, falling behind by over 20 business days.

Standard Bank issued a default notice to Mathoho in September 2024, informing him of the overdue balance.

By mid-September, the arrears had reached R49,626. Despite this, Mathoho did not settle the amount, leading the bank to take legal action for repossession, as reported by Sunday World.

Bank Moves Forward with Repossession

After Mathoho failed to address the breach, Standard Bank took the matter to court.

Two weeks ago, the Johannesburg High Court granted a repossession order, authorizing a deputy sheriff to seize the vehicle.

The warrant allowed the sheriff to locate and take possession of the vehicle, returning it to the bank. Mathoho’s continued failure to make payments led to the cancellation of the loan agreement by Standard Bank, which also sought to recover the full outstanding loan balance.

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Legal Consequences for Mathoho

The repossession of Mathoho’s car follows his breach of the loan agreement.

According to the terms of the contract, the vehicle remained Standard Bank's property until the loan was fully repaid.

Following Mathoho’s failure to meet his payment obligations, the bank initiated repossession proceedings, resulting in the return of the vehicle.

Netizens React

Sonwabo

Tower was a disciplined player. I believe that if he had chosen Sundowns over Chiefs, he would be living a good life after football.

Mboniseni

It's sad for this guy. He was dumped by Chiefs and his life turned upside down. It's so surprising that even his former agent didn’t rope him into his team (TSG). I wonder what Tower did wrong in his life other than choosing Chiefs over Downs.

Lesilo Rula

I hope they've built him the house they promised his parents when they announced his jersey number without him from Celtic.

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Mvuzo

Eish, life sometimes is unpredictable. This thing of owning five cars at the same time on credit doesn't work at all. Sometimes you can buy just one car without these installments, especially when you can afford that. That's a good idea. I don’t blame or judge him, but I feel sorry for him.

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Source: Briefly News