DM
Dawid M
1 reviews | Active since Feb 2011
26 Sept 2024, 12:23
Marquis Finance
Whatever you do, do not finance your vehicle through Marquis Finance, unless you won't sell before the vehicle is paid off or you know 3 months in advance you will be selling your vehicle and give them 3 months' notice. If not, then you will pay a hefty penalty for early contract cancellation. Read your contract fine print in detail. I will personally never ever in my life make use of them again.
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Replies (3)
Marquis Finance's replyOfficial
26 Sept 2024, 14:14Thank you for your feedback. I'm truly sorry to hear about your dissatisfaction and the frustration caused by the early settlement process.
I’d like to clarify that the early settlement penalties you’ve mentioned are part of the National Credit Regulator (NCR) guidelines, which apply to all financial institutions across South Africa, including Marquis Finance. These regulations are in place to ensure consistency nationwide. While we understand the inconvenience, the three-month notice period and any associated penalties for early contract cancellation are in accordance with these regulations, and not unique to our company.
That said, we are always open to helping our customers navigate these situations as smoothly as possible.
Marquis Finance's reply26 Sept 2024, 14:14
Official
Thank you for your feedback. I'm truly sorry to hear about your dissatisfaction and the frustration caused by the early settlement process.
I’d like to clarify that the early settlement penalties you’ve mentioned are part of the National Credit Regulator (NCR) guidelines, which apply to all financial institutions across South Africa, including Marquis Finance. These regulations are in place to ensure consistency nationwide. While we understand the inconvenience, the three-month notice period and any associated penalties for early contract cancellation are in accordance with these regulations, and not unique to our company.
That said, we are always open to helping our customers navigate these situations as smoothly as possible.
DM
Dawid M's updateReviewer Update
26 Sept 2024, 14:41You are the first financial service that in all my years of vehicle finance that gave me this penalty.. EVER.. R15 000 odd penalty is just daylight *******. But hey, I guess it's easy money for you.
DM
Dawid M's update26 Sept 2024, 14:41
Reviewer Update
You are the first financial service that in all my years of vehicle finance that gave me this penalty.. EVER.. R15 000 odd penalty is just daylight *******. But hey, I guess it's easy money for you.
Marquis Finance's replyOfficial
26 Sept 2024, 15:16The fee you mentioned is part of a standard industry-wide practice governed by the National Credit Act (NCR). This regulation is designed to account for the financial commitments tied to the duration of the loan, and it applies across most finance institutions. That said, I really appreciate your feedback and would be happy to explain how this works in more detail if it helps.
Marquis Finance's reply26 Sept 2024, 15:16
Official
The fee you mentioned is part of a standard industry-wide practice governed by the National Credit Act (NCR). This regulation is designed to account for the financial commitments tied to the duration of the loan, and it applies across most finance institutions. That said, I really appreciate your feedback and would be happy to explain how this works in more detail if it helps.