Concern Regarding Loan Repayment

I am writing to express my concerns about my current vehicle finance agreement with WesBank.

While I acknowledge that my account is in arrears by five months, I have been making consistent efforts to reduce the loan amount. Despite my financial challenges, I managed to pay R3,500, even though the full payment of R4,300 plus the arrear amount of R1500 was not possible.

However, I feel that WesBank’s approach lacks the flexibility and understanding that many clients in similar situations might need. My original vehicle purchase price was R280,000 in 2019, and I currently owe R58,000 in 2024. With the interest rate adjustment pushing my monthly payment to R4300, this has significantly impacted my ability to meet the obligations. I have repeatedly requested a review or adjustment to my interest rate to make the repayment terms more manageable, but my concerns have not been addressed due to my account being in arrears.

This has left me feeling that WesBank prioritizes collections over building long-term client relationships. It would mean a great deal if there were more empathy and consideration for clients who are willing to pay but face financial difficulties. I managed to bring to loan amount down to R58,000, shouldn't that indicate something to you as your client?

I kindly request that my case be reviewed and that we explore solutions to make my payments more sustainable. I am committed to settling this debt and maintaining a good standing with WesBank, but I need support to do so effectively. Wesbank is quick to send out vehicle recovery officers to demand payments even though you received a payment of R3500.00 but can't find the solution to accommodate me as your client.