[LISTEN] VW ordered to refund customers it's charged for “on the road fees”

The National Credit Regulator has issued Volkswagen South Africa's Financial Services with a compliance notice, warning it is wrongfully charging customers an on-the-road fee on credit agreements.

The car manufacturer will have to pay off at least 10 years worth of charges.

Azania Mosaka spoke to Caroline Young, Senior Legal Council at National Credit Regulator.

We instructed VW Financial Services that these charges are prohibited, to identify all the consumers that have been over-charged and then to refund those consumers.

Caroline Young, Senior Legal Council at National Credit Regulator

We have asked for their entire book, however, the National Credit Act only came into effect in 2007. So it will have to be from 2007 until now.

Caroline Young, Senior Legal Council at National Credit Regulator

Young says the investigation into all credit providers overcharging on the cost of credit, is ongoing.

Click on the link below to listen to the full audio....


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Dali Tambo remembers 'Uncle Nelson' ahead of the centenary of Madiba's birth

Dali Tambo remembers 'Uncle Nelson' ahead of the centenary of Madiba's birth

The son of struggle hero Oliver Tambo shares his memories of Madiba as the world celebrates the centenary of Mandela's birth.

[LISTEN] How best to support employees with dyslexia

[LISTEN] How best to support employees with dyslexia

Dyslexic workers face certain challenges in the workplace - Azania finds out how employers can support their staff.

Double-tap if you're a social media addict - JHB rehab offers residential help

Double-tap if you're a social media addict - JHB rehab offers residential help

Eden Recovery Centre in Joburg is the first rehabilitation centre in SA to offer inpatient treatment for social media addiction.

First time car buyer? Here's what you need to know

First time car buyer? Here's what you need to know

Buying a car for the first time could be a bit tricky. Motoring expert Adam Ford shares a few important things to look out for.

Proposed hike in car licence fees questioned

Proposed hike in car licence fees questioned

Motorists could be coughing up R30 more in vehicle licence fees in 2018 and the Justice Project South Africa is not having it.

How auto manufacturers decide on car model names

How auto manufacturers decide on car model names

Motoring expert Mark Smyth says a lot of old language creeps into the naming of car models.

Popular articles
More arrests are imminent in connection with the cash-in-transit heists - Hawks

More arrests are imminent in connection with the cash-in-transit heists - Hawks

Seven suspects were arrested in Limpopo in less than 24 hours after a cash-in-transit vehicle was blown up in the province.

Consumers beware of illegal, deadly weight-loss products

Consumers beware of illegal, deadly weight-loss products

Consumer journalist Wendy Knowler and a medical testing expert put several harmful weight-loss products under the microscope.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.

5 contributing factors to the Western Cape's growing green economy

5 contributing factors to the Western Cape's growing green economy

GreenCape CEO Evan Rice unpacks why our province is seeing a great deal of success with sustainable energy projects.