Nothing is sweeter than knowing you can still get lots of money from a particular car you have been driving for a long period of time. That feeling is enough to give car owner Goosebumps. By indication, this is going to be a very bad news for the concerned automakers at all fronts. So, if you are a South African resident and you own any of the Volkswagen model since 2007, you have just found yourself a real lottery card

Recently, the National Credit Tribunal has given an order to Volkswagen Financial services SA to pay all affected customers illegal fee, which over the past 12 years have been levied against them. These mentioned OTR fees which is known as “on the road charges” as well as administrative levy and fee from the handling were all included to make up the financial cost of these cars. This according to the terms of the National Credit Act, were not allowed.



This new ruling in SA will cover all the credited agreements entered by the Financial Services since June 2007. According to a statement from Lebogang Selibi, who is the spokesperson for National Credit Regulator (NCR), he told Business Insider SA that Volkswagen car owners who purchased through banks and several other financial institutions would not be affected by this new development.

The estimates of these fees would reach up to four thousand rand per vehicle. This amount was part of the vehicle finance agreement and accumulated interest for the past years.

The NCR ordered the financial services from two German automakers, BMW and Volkswagen to repay these fees in 2007. Volkswagen however appealed by taking the case to the higher court, which was the National Credit Tribunal. This court subsequently Tuesday was found against it and ordered the financial services from Volkswagen to stop charging the fee. This occurred last Wednesday

The company was however ordered to repay all the levied fees and accrued interest on them to their customers. After which a report must be submitted by the independent auditors to the NCR.


https://www.youtube.com/watch?v=bCW9f4nXcCg

If you purchased your car through the VW Financial Services, you have the right to lodge a formal complaint to the NCR. According to Selibi, the NCR will make sure it keeps a record and make sure that the audit covers all customers when conducted.

The spokesperson of the Volkswagen Financial Services in a recent statement made to the Business Insider SA, said the company is currently obtaining legal advice.
Source: https://naijauto.com/market-news/volkswagen-illegal-fees-3026