Never take a car loan with MFC!!!

MFC finances my vehicle, I am utterly shocked at the treatment I got thus far. If it was possible to change car finance. I wouldn’t hesitate to take that opportunity

I purchased my vehicle through a dealership and was financed by MFC . Upon taking my vehicle loan , I had specifically asked them to keep my interest rate FIXED and they haven’t kept that promised. Last year August my car installment decreased and I called them to change it back. I was even sent an amendment letter.

No due to covid19 and the prime rate and interest rate decreases. I received an sms informing me that my installment will decrease. I immediately called them to inform them not to change it! An amendment letter was sent to acknowledge my request. Now a day later I receive an email from care@mfc saying something different. I’ve been told if I want my interest rate to be fixed and since the prime rate has decreased my installment will be more than my agreed installment, and I will need to be refinanced because of that???? Like what the hell is that!!!

I’ve sent them an email and to date, no reply. Does this mean if the interest rate goes up will I need to be refinanced because the initial interest rate would’ve been lower than what was approved by bank???

My car debit order will soon go off, this should be fixed ASAP