GP
GORDON P

1 reviews | Active since Jan 2014

10 Mar 2016, 18:23

Declining of motor finance after 8 years with MFC

I have app**** for motor finance to buy myself a new vehicle. It was found by MFC during my credit checks that i have been incorrectly listed on the Bureau's by Absa and Autopage for accounts that was never in arrears but never closed. They declined my finance based on that. The dealer forwarded proof from both companies that those accounts was settled in 2012 (Absa) and 2015 (Autopage) respectively. Both companies stated they will fix this on TransUnion and Experian yet MFC is still not offering me the loan nor willing to remove these amounts from my credit application.<br> <br> I have been a loyal client of MFC and Nedbank for over 8 years and currently have a vehicle that is financed by them. I want to trade this vehicle in and get another. After disputing, they then only offered me R 170 000 and the installment on that is less than my current installment. For 8 years I have never missed a payment. I earn a higher salary now but they offer me a smaller loan(expenses mostly the same). What is the problem? I know for a fact I can afford the repayments of the loan monthly just like I am doing with my current vehicle. <br> <br> Seems like i should rather take my business elsewhere

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Replies (1)
Nedbank
Nedbank's reply11 Mar 2016, 08:08
Official
Hello gpretorius007,

We at Nedbank value you and take your concerns to heart. An investigation will be conducted soon and a resolution manager will be in touch.

Kind regards
Client Experience Team