Credit regulator orders VW to refund customers ‘on-the-road fees’
24 October 2017 - 11:04
Volkswagen (VW) must refund customers "on-the-road fees" and other charges added to its vehicle finance agreements, the National Credit Regulator said on Tuesday. This echoed a similar statement the regulator issued to BMW Financial Services SA on October 6. The regulator accused both car companies of sneaking hidden fees into the small print of their vehicle finance deals, and indicated other lenders are likely to receive similar notices as its investigation continues. Besides "on-the-road fees", the regulator also ordered the vehicle financing arms of VW and BMW to refund admin and handling fees.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.