BMW and VW to refund consumers for illegal “on-the-road” fee
BMW and Volkswagen Financial Services have been allegedly accused by the National Credit Regulator of charging their clients an illegal road fee
The fee ranges from R3 000 to R6 000. It includes administration and delivery fees charged in order to get your car on the road.
According to Nomsa Motshegare, Chief Executive Officer at the NCR, BMW and Volkswagen have to refund consumers and submit an audit report to the NCR.
Also Read: Credit Regulator warns of illegal credit providers
“The National Credit Act allows consumers to be given a quotation which sets out the cost of credit before signing credit agreements. Consumers should request this quotation from their credit providers so that they can properly check the cost of credit that is being offered,” said Motshegare
The NCR promised to continue conducting industry-wide investigations on the cost of credit to eliminate illegal charges and fees that consumers are charged.
