MFC does not honour their loan agreement

I had a vehicle finance agreement with MFC scheduled to end on 26 April 2026. I settled the last instalment (balloon payment) on 20 April 2023.

Despite paying off the vehicle finance account, MFC debited an arbitrary amount of R 7 653,67 from my cheque account on 26 April 2022. I wrote to MFC to get an understanding of why they have debited my account and I was to the amount will be refunded. To date, I have received a refund of only R3 978.59, which was paid on 5 May 2023. I have contacted MFC several times via e-mails and through their call centre requesting the remainder of the refund.

MFC has not responded to my e-mails. The call centre Agents simply told me that their manager will call back to explain what is going on. It has been more than two months and I have not received feedback regarding why MFC debited my account in the first place and why they short-paid the refund.

I am very disappointed with MFC for not honouring the vehicle load agreement and not providing a full refund. I have lost all respect I had for the MFC brand.