I have applied for finance with one of the dealerships around JHB, at first Absa declined my application "i was told due to affordability" we looked at the application only to find my rate was incorrectly captured at 15.5% whereas it was supposed to be 6.5%, accordingly it wasnt marked that an existing car will be settled by the dealer, and lastly as part of supporting documents I provided my new salary effective 01/04/2013. After having submitted all that, I got feedback that my application was approved- I was so exited and looking forward to sign my contract with the dealer today as the car has already arrived at the dealership (new car ordered specially for me).
While i was preparing to go and sign my contract, I was contacted by the dealer that Absa is not accepting their invoice accordingly as I wont afford the car... Absa requires me to bring R50 000 deposit but i told them instead of me going out to make a personal of R50 000 which i will end up paying too much, why cant they just accomodate me with that R50 000., my car instalment gets deducted from payroll, if you divide R50 000 by 72 months (term loan i opted for) it gives you R694.00, can i realy fail??
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