Standard Bank
Standard Bank my Car (Avoid Standard bank!)

My company financed a car through standadr bank, which we happily paid off for about a year, when the first financial crisis hit and we where behind 1 month with payments, being new to finance etc we didnt know exact procedures, so we where very suprised when standarb bank representatives phoned us and threatened to pick up the car with immediate effect, ( only 1 month of arears), we managed to settle the arrears immediately, which left our company short of sellable stock and therefore much needed income, in the next couple of month to come our company went through much financial difficulty but always eventually made a plan to settle the areas and be up to date with payments, but standard bank still repossessed the car, eventually we agreed on a voluntary auctioning of the car, the total debt to standard bank was at that point R 87000 and the car fetched a whopping 107 000 at the auction, we where promised the standard bank would supply us with the documents of the sales as well as the extra 20 000 minus expenses that the car fetched at the auction, we never heard from standard bank again, they refused to supply us with the auction invoices or the extra money due to us

Company: Standard Bank
Country: South Africa
City: Claremont

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