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Surita C

1 reviews | Active since Apr 2011

17 Aug 2015, 11:35

Bad interest rate - not willing to negotiate.

I tried to assist my sister with buying a car. She received finance through Wesbank Finance Toyota.<br> Unfortunately she was given an interest rate of 14.5% which I felt was still a bit high. When I bought my first car only a few years ago I got an interest rate of 11.5%. Initially Wesbank said 16.5% flux, but the man at the car dealer gave excellent service and phoned the manager of Wesbank and got an interest rate of 11.5 %. Now that is what I call service. <br> I phoned Wesbank this morning who advised that Wesbank Toyota should be able to give a better interest rate and that I should speak with the person dealing with the finance at Toyota directly.<br> I phoned the lady - Fiona who is assisting with the application of Finance. She was extremely rude and said she has been doing her job for 21 years. Well I say 21 years of bad service that is. I know Toyota Wesbank finance can give a better interest rate and I feel a young naive teacher is being taken advantage of. <br> Why would Wesbank not give a better interest rate to this young woman?<br> Is it Wesbank themselves or is it Fiona? I understand it is a few years later but I guarantee that a better interest rate can be given.<br> Dr. Coetzee

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Replies (1)
WesBank
WesBank's reply19 Aug 2015, 13:29
Official
Hello suritacoe,

Thank you for bringing this matter to our attention and affording us the opportunity to address your concerns.

One should not draw parallels or comparison in terms interest rates for separate individuals because the rate applicable to any transaction is determined by a myriad of risk related factors in addition to economic conditions that are considerable. A manager from Toyota Financial Services, the asset financier applicable herein which is also a independently registered legal entity, has forwarded communication to the applicant to detail how these deals are assessed. The applicant is welcome to liaise with Tim Smuts from TFS and he will gladly discuss the matter further.

We trust that this is in order and assure you of our best intentions at all times.

Yours faithfully,

WesBank