MOTOR VEHICLE FINANCE *******

Im writing this review because im disheartened by how standard bank mvf treated my dad. He has been a loyal customer over 20 years. I asked my dad to purchase a car for me and i would send his monthly installment to him. Everything was great at first we were paying 3200 for a car that was marked 1999. After 2 years we were hit by the repo rate and started paying 3800.

We continued to pay faithfully for 6 years for a 5 year contract. We started making enquiries and we were told that we are under balloon which was never brought to our attention. Nonetheless After paying a year extra we are still told we owe 40 000 for which if you calculate that extra year we have paid way over 40 000. Standard bank never communicated anything and we've made countless attempts to get a ressolve now they have started making late deduction on repayment for the past 2 months. A clear attempt that they want to repossess the car. They have always deducted on the last day of the month but currently make attempts on the 7th.

No communication comes from standard bank because the car is paid off, we tried refinancing for the balloon but we are not receiving any prompt assistance which emphasizes our repossession suspension. I would never recommend this bank nor would i my even consider knocking on their doors for any of my financial issues. I've even asked my dad to consider using a bank that is for the people and not a bank that just doesn't care about his needs nor communicates justly.

When you get to the bank you can't be assisted by the useless consultants sitting there in uniform. You must speak to a consultant on the phone who doesn't even listen to your requests. Clearly standard bank has trained them well to keep robbing its very own loyal consumers. Unfortunately with hellopeter you can write a review without a start but this bank doesn't even deserve one.