Complaint Against ABSA for Failing to Protect Client Rights Regarding Vehicle Purchase

I have banked with ABSA for more than 10 years but it has failed to protect my rights as a consumer following a vehicle purchase that was financed by the bank. I believe that I have been prejudiced and denied my consumer rights throughout this process.

In August 31. 2024, I purchased a vehicle from Pegusu Auto in Vereeniging, financed through ABSA. Immediately after collecting the vehicle, from Vereenging to Bloemfontein I encountered issues. The vehicle was shaking, making unusual sounds when picking up speed, and the gear was stiff, particularly when engaging first gear. I also noticed that the tyres were old and worn out, which was only visible the morning after collection as the vehicle was picked up late in the evening. I reported these problems to the dealer immediately via phone and email, but I received no response or assistance.

After realizing the dealership was uncooperative, I contacted ABSA, requesting them to intervene and terminate the contract with the dealer. This request was made within five days of collecting the vehicle, as I was too afraid to drive it due to the apparent mechanical issues. I returned the vehicle to the dealership, only to be met with hostility. The manager falsely claimed that I was fabricating the issues and refused to allow me to exchange the vehicle or terminate the contract. Instead, they said the only option would be to have the bank repossess the vehicle, which was unreasonable.

In my attempts to resolve the matter, I sought advice from a bank representative who had finalized the deal. They suggested I take the vehicle for a second opinion to get evidence of the problems. I followed this advice and obtained a diagnostic report which confirmed the gear issue. I forwarded this report to both the bank and the dealer. Unfortunately, the dealer continued to neglect the repairs, and each time I returned the vehicle, they reiterated that they would notify the bank to repossess it, effectively dragging the process out.

It has since come to my attention that ABSA had logged a case regarding this matter without my knowledge, and I was only made aware of it when I received an email with a case number and stating that the case had been closed the dealer has repaired the vehicle. Despite never having used the vehicle, and it still being in the possession of the dealer, the bank now expects me to continue making payments. This is while they hold a diagnostic report that clearly outlines the defects of the vehicle. I have also incurred significant costs transporting the vehicle back and forth for repairs that were never completed and using a public transport on daily bases.

Pegusu Auto has failed to repair, replace, or refund the defective vehicle as required by consumer protection laws. Despite this, ABSA has not stepped in to protect me as their client. I am deeply disappointed by the bank's failure to uphold my consumer rights and support its clients in this matter.

I was hoping that after so many efforts and conversations and promises ABSA would immediately take action to address this situation and reach a fair resolution that does not leave me financially responsible for a vehicle that is unsafe which will put myself and other road users in danger.