Motor Finance Corporation new vehicle lease comes with frighteningly financial flaws

MFC is a frightening motor finance corporation to deal with.

If I had known I would be telephonically confused and potentially coerced, I would have returned to BMW Finance group.

I entered into a motor finance lease contract through Hyundai Stellenbosch in February 2021. For the past three months, I have struggled to discover what the extra R270 premium for Added Value Insurance is, being taken off my account. First, it was advised to be life cover insurance. Thereafter, the amount was estimated to be internal/external car surface protection insurance, which I was telephonically pressure-talked into consider taking.

Finally, it’s discovered to be credit shortfall cover which, ironically, I had specifically discussed with the lease officer at Hyundai Somerset West.

Since I discovered the sudden, new debit order amount at the end of March 2021. This was an ongoing telephonic and email loop of communication as to how and when the error may be corrected. Today, 30 June 2021, is just another zero accountability day at MFC finance division, it seems.

Contractual jargon can provide an incredibly easy and insidious entrapment into added premium amounts. I specifically discussed at lengths the criteria I needed to ensure before completing my new contract. Credit shortfall was to be covered by my comprehensive vehicle insurance provider. I did not request credit shortfall cover its MFC ever or at all.

After speaking to Kelly at MFC in mid May, who assured me of the possibility of corrective measures taking 21 days. Today, it’s radio silence and the same debit order.