CP
Charlene P

1 reviews | Active since Feb 2015

18 Feb 2015, 17:45

Interest Rate hike

Good day<br> <br> My complaint is to voice my unhappiness with Wesbank Vehicle Finance<br> <br> I was in an accident on the 2nd of Feb 2015 whereby my car was written off<br> <br> I then started to look around for a new vehicle.<br> <br> A week ago I saw a car i liked and app**** through the Huyundai Dealership for a total cost of R150000, where I would pay a R50000 deposit and finance the remaining R100000, and FNB came back with a 11.75% interest rate, which in itself is already a high interest rate.<br> <br> I was then told that its because I am not lending enough money from Wesbank that they are charging the high rate. <br> <br> I then saw another vehicle which was a better deal, and duly cancelled the previous car finance and app**** for the other vehicle, which was being sold for the same price.<br> <br> I then got a huge shock as they came back with an interest rate of 13.85%, this is a couple of days later, for the same amount!<br> <br> I then inquired with the sales people from the new dealership, and they said that some dealerships get preferential interest rates from Wesbank.<br> <br> So Wesbank does not actually care about their clients, it seems the only people they are helping is themselves and the dealerships.<br> <br> Disgustingly bad service!!

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Replies (1)
WesBank
WesBank's reply20 Feb 2015, 14:19
Official
Hello ChallasP,

Thank you for bringing this matter to our attention.

A WesBank representative has been trying to contact you to no avail. He will continue to try and get a hold of you to discuss this matter.

Regards
WesBank