The high court has ruled that VW, Mercedes-Benz and BMW did nothing wrong by financing on-the-road fees.The North Gauteng High Court has ruled that the financing arms of Volkswagen, Mercedes-Benz and BMW did nothing wrong by financing on-the-road fees.
The regulator wanted Volkswagen, Mercedes-Benz and BMW finance units to refund consumers all on-the-road fees and interest charged as far back as 2007.A new high court judgment brings good news for Volkswagen, BMW and Mercedes-Benz financing arms - but vehicle owners may be disappointed that they won't get refunds for so-called"on-the-road" charges.
The credit regulator contended that these charges were not allowed in terms of the National Credit Act and shouldn't be added to vehicle loans. The regulator went as far as declaring that it was a criminal offence to charge these fees. The companies appealed that order. In 2019, the National Consumer Tribunal confirmed that Volkswagen Financial Services had to repay the money – but two years later, it cancelled a compliance order against BMW Financial Services and Mercedes-Benz Financial Services.This month, the North Gauteng High Court in Pretoria ruled that they did nothing wrong by financing on-the-road fees. They didn't charge them - they merely financed them.
_Business Consumers will never win against big corporations
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CapeTownEtc - 🏆 17. / 63 Read more »
Source: CapeTownEtc - 🏆 17. / 63 Read more »
Alleged child sex ring kingpin Gerhard Ackerman nabbed after skipping courtAlleged child sex ring kingpin Andre Gerhard Ackerman, who failed to appear in court on Thursday, was arrested on Sunday.
Source: TimesLIVE - 🏆 28. / 59 Read more »