DN
Desigan N

1 reviews | Active since Oct 2013

17 Mar 2015, 16:52

Vehicle Finance - Total ***********, & misleading

I recently, privately sold my vehicle, of which the buyer, got pre-approval from ABSA bank. After approval, i went ahead, and put a R10 000 deposit on my new vehicle. Apart if ABSA's procedure was to pass a AA test of which i failed the 1st time, i spent R4000 to get my car up there standards,an pass the test. After 2 weeks of constant communication with ABSA, everything seemed to be on track,and at the last minute, ABSA, calls the buyer, asking him to go into the bank to sign off the deal, upon arrival, he gets another call, saying that, his finance was declined, not giving a straight answer as to reasons why they changed there decision. After 2 weeks of constant communication, and expenses occurred based on there regulations, They still not willing to give us feedback as to the reasons they are declining the application. Another company that deals with ABSA finance, confirmed that ABSA does that, they process, is that they give pre-approval, an in there terms and conditions, it states in the fine print that, its subjected to there terms an conditions, of which the buyer was not aware off. Personally ABSA bank is very unprofessional, their process of finance is totally misleading

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Replies (1)
Absa
Absa's reply18 Mar 2015, 07:40
Official
Hello desi-zn,

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.

Kind regards
Claudette Lewis
Group Customer Care
Absa Bank Ltd