I bought a vehicle (Toyota Run X, Reg DLK 255 MP) with Standard Bank finance. As per my contract stipulations, ownership was supposed to be passed over to me on payment of last instalment. I settled the debt and i received a letter dated 1st November 2012 wherein the Legal Department acknowledged full settlement of the debt.
When i approached the Bank to collect my certificate of ownership, i was told that the document has been erroneously handed over to some unknown person. As a result of that, the car has been duplicated and a new registration has been given to the vehicle. The vehicle is now registered under the name of one "Mothapo" who can not be traced.
The Bank now does not want to solve my problem as they want me to take the vehicle to be transformed into Code 3 and be given new engine number. I am not happy with that arrangements due to the fact that value of my vehicle will be influenced thereby.
I am still in possession of the vehicle but i can not use it as the disc has expired and traffic department refuse to renew it.
The matter has dragged from November 2012 and i've been sent from pillar to post until now.
Can somebody please help me.
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