Finance "extras" options - Wesbank

supersunbird

supersunbird

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So a bunch of extras on the quote for vehicle finance I am taking with Wesbank. It's a 6 year old vehicle.

Already said they must remove the 3 years Tracker R8500 amount (financed) from the quote. My insurer doesn't require it.

Next there is the MOTORITE PRESTIGE PLUS for R8000 (added to financed amount). I have asked for the brochure their mail said should be attached but wasn't. I also asked which minimum period it is required for and awaiting feedback. Their mail claims a Mechanical Breakdown Warranty is required by Wesbank. What are other options/providers I can look at and your experiences?

Next up is CoverPlus, which seems to be some kind of shortfall insurance from reading up online. The premium seems to be about R8.50 to the R10 000 . The comprehensive insurance cover value is just R2000 shy of the finance amount (without the R8000 for Mechanical Breakdown Warranty), so I will tell them to remove that too.

Last but not least is DEATH AND DISABILITY COVER with FNB LIFE. Seems to work about to about R11 per R10 000. What are other options/providers I can look at and your experiences? I have more than enough death, disease and disability cover through work and privately to cover all my debt, with this added, many times over.
 
You DON'T HAVE to take any of those, and a dealer that adds all that without asking you...

I will rather walk away, they are taking chances.

Wesbank does not require you to have any warranty.
 
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grim101 said:
You DON'T HAVE to take any of those, and a dealer that adds all that without asking you...

I will rather walk away, they are taking chances.

Wesbank does not require you to have any warranty.
Click to expand...

Private sale/purchase and not a transaction I can really walk away from (without causing my own life great discomfort).

I read carefully again now and it indeed states that the products are not mandatory (probably referring to 3 of the products), so that takes care of the DEATH AND DISABILITY COVER, I will tell them to remove that too.

So 3 of the 4 unwanted things taken care of, thank you for the input.

The e-mail stating "Please note that WesBank requires a Mechanical Breakdown Warranty of your choice. You may choose to provide a product from your own preferred supplier or accept a product from WesBank’s offering as per the attached Warranty brochure." is directly from [email protected].

​

 
Are all these extras linked due to the age of vehicle or private sale Or both?
 
supersunbird said:
Private sale/purchase and not a transaction I can really walk away from (without causing my own life great discomfort).

I read carefully again now and it indeed states that the products are not mandatory (probably referring to 3 of the products), so that takes care of the DEATH AND DISABILITY COVER, I will tell them to remove that too.

So 3 of the 4 unwanted things taken care of, thank you for the input.

The e-mail stating "Please note that WesBank requires a Mechanical Breakdown Warranty of your choice. You may choose to provide a product from your own preferred supplier or accept a product from WesBank’s offering as per the attached Warranty brochure." is directly from [email protected].

​

Click to expand...
So is the breakdown warranty for the duration of the finance agreement?
 
If you buy from a dealer, the car must be mechanically sound for 6 months, under SA Law (2nd hand car).

This might be a clause in the contract as you are buying privately.
 
The salesperson gets commission for every add-on they get you to sign up for.

If you choose to finance their commission over 3-5 years, with petrol going to R40/L, that's on you.
 
LCBXX said:
The salesperson gets commission for every add-on they get you to sign up for.

If you choose to finance their commission over 3-5 years, with petrol going to R40/L, that's on you.
Click to expand...

Which is why am questioning everything. Already said they must requote without 3 of the 4 items.
 
supersunbird said:
Which is why am questioning everything. Already said they must requote without 3 of the 4 items.
Click to expand...
Good. Fsck-em. You can get whatever "cover" you need via a financial adviser you trust, not a fscker who sells you a car.
 
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