- Published on 10 August 2016
Ex Orlando Pirates defender Siyabonga Sangweni has been dispossessed of his luxury vehicle as rumours alleging that he is now dead broke take centre stage.
The former Bafana Bafana player's BMW 4 series cabriolet was repossessed from his rented Southgate townhouse last month. Sangweni confirmed he lost his set of wheels.
"The car was involved in an accident and the insurance refused to pay. I stopped paying for it. They took it back, but I will continue to pay the instalment when I'm financially okay," he said.
A source said the repo men pounced on the soccer star while he was chilling with his wife at his condo, and asked him to hand over the keys to the car.
Another source said Sangweni bought the car through BMW Finance for R1.3-million in October 2014 and was supposed to pay a R15 124 monthly instalment.
According to the source, he was in arrears after defaulting for at least 10 months when the car was repossessed.
"The last payment they received from him was in September 2015," the source said.
"The records show that he bought another car for R959 290 through their assistance on November 12 2012 and was supposed to pay a R16 866 monthly instalment. He is currently in arrears after defaulting for at least nine months," the source said.
It is believed that African Bank and Standard Bank Vehicle Finance were also on Sangweni's case for dribbling them on their loan agreements.
The records show that Standard Bank financed him to buy a R960 346 vehicle in October 2011 and he was supposed to pay a R12 776 monthly instalment.
"But he is R461 430 in arrears after defaulting for at least four years. The last payment he made was in December 2015," the source said.
He added that Sangweni also took a R141 898 personal loan from African Bank in October 2013 and was supposed to pay a R4 785 monthly instalment.
"He stopped paying in May this year."