SB
Shaheen B
1 reviews | Active since Nov 2014
10 Jul 2019, 01:48
Fine Print
Financed sales: The fine print is the (Terms and Conditions) 2 year warranty for R 9500. Added is any other cost they deem within their Terms and Conditions (ToC). The problem is that these amounts are added to their finance package. You end up financing these extra costs (lets say anywhere between R10,000 - R15,000) through the finance package they offer. This amount is amortised over the period of your repayment (72 months maximum). So a 2 year warranty is paid over 72 months. You are a loser if you take this deal.
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Replies (2)
Webuycars.co.za's replyOfficial
10 Jul 2019, 09:25Hi Shaheen,
It is true that we don’t sell our vehicles on finance without a warranty. Should the vehicle have a factory warranty we will not add any warranty. This is for the protection of the client and the vehicle. We would hate to have a client buy a vehicle from us and it has a mechanical or electronic failure which the client doesn’t have the funds to repair. This would mean the client will be paying an installment on a vehicle which he cannot drive. The client can also pay his warranty upfront should he or she which to do so then there will be no interest on the amount. Please keep in mind irrespective of where a client purchases a vehicle with a warranty it is normally added to the finance if not paid in cash, and it will then always be financed over the full term which will obviously accumulate some interest. Also keep in mind that most consumers only keep there vehicles for an average of 3 years and not the full term. Therefore the interest on the warranty is minimal.
Kind Regards
It is true that we don’t sell our vehicles on finance without a warranty. Should the vehicle have a factory warranty we will not add any warranty. This is for the protection of the client and the vehicle. We would hate to have a client buy a vehicle from us and it has a mechanical or electronic failure which the client doesn’t have the funds to repair. This would mean the client will be paying an installment on a vehicle which he cannot drive. The client can also pay his warranty upfront should he or she which to do so then there will be no interest on the amount. Please keep in mind irrespective of where a client purchases a vehicle with a warranty it is normally added to the finance if not paid in cash, and it will then always be financed over the full term which will obviously accumulate some interest. Also keep in mind that most consumers only keep there vehicles for an average of 3 years and not the full term. Therefore the interest on the warranty is minimal.
Kind Regards
Webuycars.co.za's reply10 Jul 2019, 09:25
Official
Hi Shaheen,
It is true that we don’t sell our vehicles on finance without a warranty. Should the vehicle have a factory warranty we will not add any warranty. This is for the protection of the client and the vehicle. We would hate to have a client buy a vehicle from us and it has a mechanical or electronic failure which the client doesn’t have the funds to repair. This would mean the client will be paying an installment on a vehicle which he cannot drive. The client can also pay his warranty upfront should he or she which to do so then there will be no interest on the amount. Please keep in mind irrespective of where a client purchases a vehicle with a warranty it is normally added to the finance if not paid in cash, and it will then always be financed over the full term which will obviously accumulate some interest. Also keep in mind that most consumers only keep there vehicles for an average of 3 years and not the full term. Therefore the interest on the warranty is minimal.
Kind Regards
It is true that we don’t sell our vehicles on finance without a warranty. Should the vehicle have a factory warranty we will not add any warranty. This is for the protection of the client and the vehicle. We would hate to have a client buy a vehicle from us and it has a mechanical or electronic failure which the client doesn’t have the funds to repair. This would mean the client will be paying an installment on a vehicle which he cannot drive. The client can also pay his warranty upfront should he or she which to do so then there will be no interest on the amount. Please keep in mind irrespective of where a client purchases a vehicle with a warranty it is normally added to the finance if not paid in cash, and it will then always be financed over the full term which will obviously accumulate some interest. Also keep in mind that most consumers only keep there vehicles for an average of 3 years and not the full term. Therefore the interest on the warranty is minimal.
Kind Regards
SB
Shaheen B's updateReviewer Update
10 Jul 2019, 21:20Thank you and well done. I don't think your business model is flawed, but I think it is important that people understand that the price posted on the advert and the finance cost are completely different things. I am not sure that it is prudent to finance a 2 year warranty over 72 months for example. Perhaps a sound court judgement will address the issue. It is important that your client understands your Terms and Conditions.
SB
Shaheen B's update10 Jul 2019, 21:20
Reviewer Update
Thank you and well done. I don't think your business model is flawed, but I think it is important that people understand that the price posted on the advert and the finance cost are completely different things. I am not sure that it is prudent to finance a 2 year warranty over 72 months for example. Perhaps a sound court judgement will address the issue. It is important that your client understands your Terms and Conditions.