Feb 21, 2021
Updated by TJamadar$*9 Took a 2 wheeler on loan during Diwali from in-house finance from dealer.
paid 20, 000 downpayment and was informed the duration is 16 months. No loan doc's or calculated amount was provided as it was a busy day for them. I didn't mind it as finance guy Bhushan said he will send details via whatsapp. Got my bike. Followed up with the loan guy. He kept delaying untill 5/6 days prior to EMI date got a call from some representing Hero Finance asking me to pay the EMI online as the ACH was not setup.
Confronted the loan guy, he said nothing to worry ACH is set and there should be no problem. Call me if payment doesn't go through.
after 8th Jan received EMI did not clear msg due to signature mis-match msg. informed the bank guy, got signature verification form from my bank. Visited the showroom and asked Bhushan for loan doc's, he refused and it to me only when I created a seen. I found out that the loan tenure was 18 months and the loan amount was incorrect.
Later when the matter was escalated to territory officer Sandip from Hero he confirmed below details
The bike's purchase price is 89375
Loan amt - 82359
Rate of Interest 6.99%
DP - Rs.22457
EMI rs. 5056/-
Your net loan period is 16 months
I was ready to payoff because they couldn't give me a valid explanation on the incorrect loan amount and 20, 000 downpayment.
But then found out they charged me late charges and bouncing charges when it was not my fault.
And to my irony the next month that is Feb EMI went through without submitting signature verification form.
Requesting to look into this matter so that they don't make a fool of poor people who avail finance from them and penalize them for leaking my data and charging me incorrect loan amount.
These guys have spoilt my 15 years of track record of making payment on time and reported me to a collection agency when I am paying off my loan.
Territory manager - Sandip - [protected]
Bhushan - [protected]
Post your Comment