[Resolved]  Mahindra Finance — Wrong commitment

Address:

palam vihar

I had taken a car loan from Mahindra Finance in JULY 2019. The loan amount was 4, 50000 (4 lakh 50 thousand), at that time the EMI was 15680*36=564480. That amount was final. The loan was not debited from my account at COVID time. After that, I got a call from the customer care agent. They are offering me an Rs75000/- loan, at that time they told me that this loan is sanctioned by the government side of the customer who is not paying the EMI on covid time only for the commercial car because they do not drive a car in lockdown. Also, they told us that the EMI for one year is 883 and will pay 1051 for the next 3 years. I thought it is ok for us so I will take this offer, after one year they are telling us that EMI for the next 3 years is 2582. I was shocked and at that time I did not agree to pay such an amount, but they were forcing and they are threatening to recover my car if I am not paying. I don't want to lose my roji roti, So after so much negotiation I agreed to pay it, and I started paying 2582. By the month I already paid 15680*31=486080 and 883*. 12 = 10596. and 2582*8=20656 installments. Now again asking us to pay the remaining 5 installments of RS-22390. After discussion they are again threatening to give us to pay this amount otherwise we will recover the car. I want to ask you, sir, if the customer has paid Rs.517332. After that, they are losing their cars for very high interest and wrong commitment from the bank side. what they can do, is it ok for the middle-class family? When I asked your executive what they have told me that this is the government rule they are charging this amount, ALSO They are telling us to lie. We have written proof that you agreed to pay the covid EMI with this interest. When I asked to send my acceptance letter then he told me to come and discuss it with us. Sorry, sir, we are not able to pay this interest.