Since MFC merged with Nedbank my cars outstanding balance has gone up by R24 000.00. When phoning the help line you can expect to be on hold between 10 - 15 minutes before an agent will attend to your call. When I asked the agent why this has happened, he said that it was some sort of interest not shown on my previous statement. How is this possible? I do not understand this. How can I now own more on my car than 2 months ago? This merge has caused major chaos. The interest on your car repayment gets worked out and will be incorporated with your monthly payments, this is how it was always done, you get a statement and the amount outstanding, is the amount you own, it does not go up with over the R20 000.00 2 years into your contract. I need a better explanation than what was given to me. This is unacceptable.
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