Fed-up with exploitation
TWO Taxi owners have accused SA Taxi Securitisation and Shiraz Motors of exploitation and deceit.
They say that the financier and the motor dealer have either overcharged them or delivered incorrect models and makes. The financier and motor dealer then attached the vehicles when the taxi owners refused to pay the incorrect bills.
Simon Masiteng of Sunrise Park in Rustenburg, North West, says he was duped into buying a vehicle he would not have bought had the SA Taxi Securitisation not damaged his vehicle while it was in their possession. He says he bought a minibus in 2007 through the financier and fell into arrears two years later.
The financier repossessed the vehicle, but gave him a chance to raise the money he owed . He raised R46,000 within a week , he says.
"Unfortunately I could not get my minibus as SA Taxi had damaged it and refused to repair it," Masiteng says. He says they told him to repair it at his own expense or through his insurance. He refused, saying that would dent his insurance profile.
"I wanted them to repair it, but they told me to take a replacement bus from their repossession pound," Masiteng says. Unbeknown to him, they sold him another vehicle for R197000 instead, he says.
"This added a R78,000 debt that I had no intention of incurring or even knew I had taken," he says .
Masiteng says when he was signing the documents, he was told it was a formal replacement of his damaged vehicle. He only discovered two weeks ago that he had entered into a new sales agreement.
"They did not do any affordability test to ensure that I could pay additional debt.
"They caused me to be over-indebted," he said.
Masiteng said he never suspected anything unusual, but after scrutinising his new documents, he discovered a number of discrepancies.
"I was excited and I never really checked that the vehicle I got did not match with the documents that I signed," Masiteng says.
He is still paying for a 2008 model, but has a 2007 model, which is also a different make.
Molefe Mojeloa of Boitekong, in Rustenburg, is also a victim.
Mojeloa claims he is paying a high installment for a Toyota Quantum that he never possessed.
He has been driving a 14-seater Quantum, yet he is repaying for a 15-seater with a roof hatch, he said.
Mojeloa bought his vehicle from Shiraz Motors in Lenasia, Johannesburg, which supplied the incorrect description to SA Taxi Securitisation, except for the chassis and engine numbers. He paid a deposit of R55,000 and the balance was financed by SA Taxi Securitisation.
He says he expected to receive complete and accurate information about his purchase, but his debt was incorrectly calculated. His principal debt is R205,000.
He says after financing his payable balance, the amount ballooned to R449,000.
"But if you add my monthly installments of R9,906 over 60 months, I have to pay over half a million rands. This is misleading and a rip-off," Mojeloa says.
He tried to sort this out with SA Taxi Securitisation, but they said they only financed the car and referred him to Shiraz Motors where he bought his minibus.
Mojeloa says he expected the financier to intervene, but they ignored him .
"I also wanted them to recalculate the amount payable and to stop ripping me off, but they have been ignoring my complaints," he says.
- Shiraz Motors did not respond to Consumer Line's inquiry, but they invited Mojeloa to their offices to sort out the problem.
SA Taxi Securitisation has admitted it has made an error but claims the incorrect description has no impact on the value.
The company has also denied ever repossessing Masiteng's vehicle.