Visited an auction yard leo asubuhi. Watu wanakula stress huko. KDQ is already auctioned. If you can, avoid log book loans by all means. I met a guy who took a log book loan of Ksh. 200k a month ago and his car got auctioned, they want him to pay Ksh. 317k.
Took a 200k loan from a microfinance. After 3 months of servicing @ 20p/m , I decided to go and pay full amount ndo nipewe gari . When I went to those guys I was given a quotation of 432K . Niliwaachia gari yangu .
You apply for a loan of 200k then you get 150k or there about
Wanasema charges ni upfront,
Your budget was for the 200k so u don’t even achieve the objective of the loan.
I see it as sabotage ndio you default on the loan watume auctioneers of which is also the lenders branch.
Took a quick 400k loan on my car from mogo.I paid 1.4m.Luckily i had steady income to pay but I felt extremely extorted.Only paid coz the car was worth way more.
I took 200K loan, after deductions walinipea 120K, by the time nilimaliza kulipa hii loan it was a total of kshs 438,9120. I swear I either sell my car than going the logbook way, stress tupu. Unapatanga tu simu ati Hallo, mimi ni so and so from auctioneer.
I lost my first car to Platinum Credit after taking a small loan of only 200k in 2017. I will never ever take a loan against my logbook. And for those who know Platinum Credit, avoid that company. They’re predatory lenders who will mercilessly auction your car.
Alafu Kuna hii ya wasee wa boda,wanakamuliwa kamu kamu
“Even bike lenders are another scam how on earth can the loan bikes for 17 months daily 550 deposit of 20k transactions fee of 10k during loan tenure it ends up paying 314000 for 125 cc Honda bike”
In countries such as South Africa loan terms ni poa and most people buy low mileage to new cars using loans. Shopping for things using credit cards is normal.Banks and microfinance institutions could also be reaping big but they are predatory.
Kuuza gari ni kazi rahisi sana. Shida ni moja. You must compromise the price. Huwezi uza full price for the car.
Shida watu hutaka kuuza full price haraka and that is impossible. Unaweza uza gari in one week you just have to accept that you will get a haircut. That’s the price you pay for not being financially prepared and its still cheaper than shylocks.
Kuna jamaa aliuza axio yake 650k in a week. Yet, angeuza 750k kama angekuwa patient for two months ivi. He ate a 100k loss juu he needed the money urgently. That is still better than kuchukua loans kwa shylock.
I agree, better kuuza shida wengi wanategemea broker, broker unapata angedai amepata custoemer wa five soo yet ni wa 700k, na bado broker adai cut yake ya chuani, pesa inafikia mwenyewe ni 450k, unapata broker amekula maybe soo tatu.
I think biz ya cab ni profitable provided gari ni yako na haina loan na ni wewe unajiendeshea. Eliminate the driver and the lender it becomes a lucrative biz. Cab is a DIY business. Ukianza kuinvolve lenders na drivers hesabu inaharibika.
Chukua Diahatsu Mira ya 30km/l bila loan. Jiendeshee. Jitume biz ya cab. I can guarantee you utaunda more than 60k net profit per month after all expenses. That’s better than many jobs. Biz ya cab sio mbaya ukijipanga especially kama wewe ni peasant na haukusoma sana.
Yeah that was the original idea. I often ask the drivers how much they make driving for 8 hours, the say net of 3-4k. And if they chapa Friday evening to Sunday morning non stop, 12-15k. And they can comfortably pay muarabu his 25-30k monthly
