1 reviews | Active since Sept 2010
Sky-high rates, uninformed staff,appalling service
I recently financed my car through Wesbank. The application was made by the dealership where I bought the car. At the time of signing the contract I was told that Wesbank gave me the best rate of all 4 banks, I however only afterwards found out my application was only sent to Wesbank. Despite the fact that I have an excellent credit record and my affordability allows for a much higher monthly premium than I am currently paying the gave me an outrageously high interest rate and a 72 months term! I would have never chosen such a long term being given the choice. However, my car was ****** so I had no way of getting to work so I couldn't wait another day to get the car.I signed the contract thinking that I would restructure the loan myself, however Wesbank does not allow that. They lock you into this outrageous rate and term. I am trying to obtain the application form sent by the dealership which Wesbank by law is required to keep record of. I have tried their call center and mail service numerous times and none of their staff seems to know this simple fact. I was fooled into believing that this was the best offer while I currently have quotes for refinancing at a 4% lower rate!
Thank you for bringing your observations to our attention and affording us the opportunity to address this issue comprehensively.
As a service driven organisation, WesBank goes to great lengths to render unsurpassed service excellence to all our valued customers with every interaction. We do not fulfil the purpose of advocacy and we can therefore not accept any responsibility for the alleged actions of a dealer whilst we wish to highlight that every consumer is obligated to not only know but exercise their rights as and when an opportunity is presented. A consumer is never obligated to accept any tender from a financier whereas a first time customer in terms of vehicle finance through WesBank is likely to qualify for a reserved interest rate; moreso when considering the absence of existing creditors at the time of the application because the same is used for reference purposes to secure the lending. Franchise dealers load application through a vender system which will automatically interface with ours and as such, the copy you seek should be available through the supplier/dealer.
We assure you of our best intentions at all times.
Yours sincerely,
WesBank
Thank you for bringing your observations to our attention and affording us the opportunity to address this issue comprehensively.
As a service driven organisation, WesBank goes to great lengths to render unsurpassed service excellence to all our valued customers with every interaction. We do not fulfil the purpose of advocacy and we can therefore not accept any responsibility for the alleged actions of a dealer whilst we wish to highlight that every consumer is obligated to not only know but exercise their rights as and when an opportunity is presented. A consumer is never obligated to accept any tender from a financier whereas a first time customer in terms of vehicle finance through WesBank is likely to qualify for a reserved interest rate; moreso when considering the absence of existing creditors at the time of the application because the same is used for reference purposes to secure the lending. Franchise dealers load application through a vender system which will automatically interface with ours and as such, the copy you seek should be available through the supplier/dealer.
We assure you of our best intentions at all times.
Yours sincerely,
WesBank