ZM
Zolani M

1 reviews | Active since Mar 2019

13 Mar 2019, 20:29

Motor finance corporation ***** behaiviour

In 2014 I was approved for the financing of my polo 1.4 trend line and In 2017 I hit a financial slump where I was unable to pay for my instalments which led to a situation where I was paying instalments inconsistently , in 2017 I got a solid contract in December I paid of all the outstanding amounts that I owed MFC and I entred into a new instalment agreement with them where they agreed to let me keep the car if I entered into an agreement where I would move from paying 4000 to paying 6000, this was significantly above what I was paying before considering that I had paid off the couple of months that I owed , the initial instalment was R4000 however when I entered into a new agreement with them they requested that I pay R6000 as a new instalment agreement which I agreed and began to pay immediately , this was over and above the the outstanding amounts that I owed of R30 000 which I settled even prior to the new agreement.

Due to the fact that im self employed I entered into the R6000 agreement because I was desperate to keep the vehicle, I have since been paying the full R6000 every month for the past 14 months and the bank is still sending tracers to come collect the car as they saying that I signed the agreement in the incorrect place so the agreement doesn't hold even if I have been paying the agreed amount, that is just bizarre as the agreement was saying that I agree to paying the R6000 which I have been doing faithfully.

My counter argument to them is that even If I have signed the agreement of R6000 in the wrong place I have been paying them faithfully for the past 14 months and I have not skipped my instalments since the new agreement began however they are persisting to try and collect the car irrespective of me paying for the car ALL because I signed the agreement in the wrong place?

I find it absolutely ludicrous that after 14 months of consistent payments the bank still wants to come and repossess the car all because I signed the agreement in the wrong place? Considering that I am a Nedbank client across and my business has grown significantly as they are also my business bank, I would assume that I get treated with fairness and some sort of consideration, my entire business portfolio sits with them yet thier subsidiary MFC continues to treat me like a ******** harassing me and sending RUDE tracers who have no consideration of clients.

I have been paying the required instalment for 14 months and they dont even have the decensy to send me a new agreement that I can sign allowing me to keep the car, at this stage they are asking me to forfeit the R6000 I have been paying and still lose my car.

I recieved a call from thier collections department asking me to settle the car within the next seven days or I stand the chance of losing the car, I am now being put in a corner by the bank where I have to pay R129 000 in seven days or forfeit past instalments and the car.

I have never in my life seen such unfair treating of a customer who has been paying in full the agreed amount.

Someone please help.

0
Replies (1)
Motor Finance Corporation
Motor Finance Corporation's reply14 Mar 2019, 10:05
Official
Good Day Mr Mpungutye

We acknowledge receipt of your complaint.
 
Your complaint has been assigned to a service resolution specialist.
 
You will be provided with feedback.
 
Kind Regards