1 reviews | Active since Mar 2009
IEMAS discriminate against lower income South Africans
I have app**** for finance at IEMAS to purchase a 2010 VW Amarok at a price of R145000 with a deposit of R45000 in order to have a monthly payment which is in our budget. The purchase price is limited by affordability and I cannot afford to pay off a more expensive vehicle of my choice.
The loan can be approved with the following conditions 1. Finance period is limited to 48 months because the vehicle is to old 2. Interest rate is higher than normal (14.5%) because it is an old vehicle. 3. Buyer of the vehicle must take out credit life which is against the CPA.
In South Africa the average age of vehicles registered on the eNatis system is 12 years which means that is what South Africans can afford.
Because I fall under the lower income group and can only afford a lower price tag and an older vehicle I get a shorter payment period (which makes the vehicle unaffordable) and I must pay a higher interest rate which makes the vehicle also unaffordable. This means IEMAS discriminate against poor people which is against our constituency. IEMAS is also acting against the law by making it mandatory to take out credit life as this is against the CPA.
We sincerely apologise for the inconvenience caused. Please note that your complaint has been escalated to the vehicle finance department and one our consultant will be in contact with you to explain to you how our vehicle finance processes and procedures work.
Kind Regards, Iemas
We sincerely apologise for the inconvenience caused. Please note that your complaint has been escalated to the vehicle finance department and one our consultant will be in contact with you to explain to you how our vehicle finance processes and procedures work.
Kind Regards, Iemas
The service, knowledge, speed and competency level of IEMAS is not up to standard and as a member since 1985 (nineteen eighty five), you have lost out on a client.
The service, knowledge, speed and competency level of IEMAS is not up to standard and as a member since 1985 (nineteen eighty five), you have lost out on a client.
A consultant has been in contact with you to explain our credit polisies and procedures. We believe that we have provided the relevant information and feedback that you required in this regard.
Kind Regards, Iemas
A consultant has been in contact with you to explain our credit polisies and procedures. We believe that we have provided the relevant information and feedback that you required in this regard.
Kind Regards, Iemas
According to the IEMAS website this is what makes them different.
What makes Iemas different?
As a co-operative, we are driven by the unique philosophy of putting people, and not profit, at the heart of our business. As a member-focused organisation, we have always conducted business in an open and transparent manner, which is testament to our sound and resilient business model.
In my opinion, IEMAS financial services does not live up to their promises.
My membership is thirty three yearsIMG-***0-WA0003.jpg 247.31 KB
According to the IEMAS website this is what makes them different.
What makes Iemas different?
As a co-operative, we are driven by the unique philosophy of putting people, and not profit, at the heart of our business. As a member-focused organisation, we have always conducted business in an open and transparent manner, which is testament to our sound and resilient business model.
In my opinion, IEMAS financial services does not live up to their promises.
My membership is thirty three yearsIMG-***0-WA0003.jpg 247.31 KB