R699-a-month car owners up-in-arms
R699 car scheme collapse leaves drivers high and dry...
Local residents are in shock or in some cases unaware of the collapse of the R699 car purchase scheme.
Many scheme consumers, all affected by the collapse of the so-called R699 car sales scheme, will head to court later this month to have their contracts between banks and car buyers declared null and void, says sister newspaper the Kempton Express.
If you are not aware of what is going on, find out fast!
The hearing into the scheme has been set down for August 7 in the Eastern Cape High Court in Port Elizabeth.
After papers were served by the consumers’ representatives on Thursday last week, the Satinsky Group, which runs the scheme, plus Absa, Nedbank and Standard Bank filed their notice of opposition on Friday last week. On Monday, they (Satinsky and the banks) filed their opposing papers.
The scheme collapsed earlier this month, with banks now calling for full repayments…
For more information, read HERE.
