Standard Bank
Refusing to release log book

On the 2013/01/07 I concluded a purchase transaction on a new Hyundai Elentra. The Hyundai dealership also provided me details of prospective buyer for my Renault Megane II which was financed by Standard bank. I phoned in requesting a settlement amount on my Megane so that I could conclude this transaction. The consultant (Sedibo) promptly e-mailed the document reflecting my settlement amount of R40 442.16. The dealer then transferred settlement amount of R40 442.16. to Standardbank. I was satisfied that everything went as planned and I happily drove off with my new car.

However 2 weeks later (2013/01/24) the buyer of the Renault phoned me and informed me that Standardbank refused to release the log book to him as the settlement figure given was in error and I now owe a further R21 366.55. After paying off the said settlement amount of R 40 442.16.

The balance of the money I received for the sale was paid in as a deposit on my new car. At this instant in time I cannot pay a further R21 366.55 as I am now paying for my new car.

I want Standardbank to do the honorable thing and release the log book for the Renault.

Company: Standard Bank
Country: South Africa
City: Marshalltown

  <     >