WesBank Car Finance

Good day,

I would like to get some guidance.

Have a account with WesBank, for a vehicle that I purchased mid 2017. Car Make: Chevrolet Car Model: Sonic 1.4 LS Hatch Car Reg: CJ 95 KT GP

Car selling price was R89 000 and deposited paied by me was R20 000 Which dropped the car selling price to R69 000.

July 2018 I lost my job, I decided to keep the car. I made payment for a few months. 2019 I had arrears in my account, around R14 000, which I was aware of and I knew I had to pay.

Early 2020, My arrears added up to about R25 000, which I was also aware of. 2020 January I got another job (6 Months Contract Employment), while I still had the car with me. My aim was to continue making payments to my Wesbank account.

But 2020 February, I Have the car repossessed and take from me by Wesbank. As they did not want to make any payment arrangements with me. Few days after, I got a message from Wesbank telling me that the car was solf for R39 000 at a auction.

Now I’m having a Wesbank account of a amount R97 000 which I’m required to pay.

The same account is reflecting negatively on my credit profile. I called Wesbank to make payment arrangements, but they told me that my credit profile will not be updated until I’ve fully settled that amount of R97 000. Which based on my monthly expenses will take me about 60 – 72 months to settle. And I needed to find out from Wesbank, how did that amount to R97 000? And until this issue is fixed, I will not have a proper financial life.

I do not have any amount to make a once off payment as I have started working 2 months ago.

I feel Wesbank is abusing me and harassing me. And using abuse of power over me, and they do not give me any solution to me having to solve this problem.

I can only afford monthly payment, based on my monthly expenses.

To my undestanding, once I've started making payment, my credit profile to get updated on monthly baisis.

Wesbank, please advise solution to this problem. I do not want to find myself solving a problem with another problem.