1 reviews | Active since Mar 2018
Pathetic ABSA Vehicle Finance department
ABSA approved vehicle finance, but did not obtain the latest NaTIS document as per standard bank procedure. Now I am stuck with a car which is not on my name, I can't renew license and I can't get insurance. The dealer has subsequently closed their doors. ABSA is refusing to provide any assistance in this regard. They stated that they are not in the business of selling cars and do not have any responsibility to obtain documentation. However, about 20 years ago, a vehicle's registration document was simply handed to the vehicle owner or purchaser when the vehicle was registered - it didn't matter whether the vehicle was being financed or not. Due to an increase in ******** activities like *****, however, SA decided to create a new licensing system. Gauteng went onto this system in 1996.
NOW, if a vehicle is FINANCED, the registration document is handed to the financial institution providing the finance. The registration document reflects the OWNER'S NAME and refers to the financing bank as the Title Holder. The NaTIS document REMAINS IN THE TITLEHOLDER'S SAFEKEEPING while the vehicle is being financed. WIHTOUT THE DOCUMENT, NO FURTHER CHANGE OF OWNERSHIP WOULD BE POSSIBLE.
Could ABSA please provide me with a NaTIS document showing me as owner of the vehicle? Or treat this as a serious complaint and not only waive it off to make it my responsibility? How can I be liable for financing on a car which I am not the owner of?
Dear Customer
Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.
Kind regards
Nthabiseng Sibande
Group Customer Care
Absa Bank Ltd
Dear Customer
Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.
Kind regards
Nthabiseng Sibande
Group Customer Care
Absa Bank Ltd
