Banks Having A Burning Issue With Ford
Banks Having A Burning Issue With Ford: Another Ford Kuga family SUV burst into flames after technicians assured the owner the vehicle was safe to drive in Durban. Banks are grappling with how to deal with the financing of transactions involving Ford Kugas. One bank said it required guarantees from the car manufacturer before it would process financing applications for the vehicle. At least one WesBank client was told that, before financing could be approved, he would have to get a guarantee from Ford that a replacement part fitted to the car is safe. The bank has said that this was not official policy. Fifty-one Kugas, including one in which Reshall Jimmy burnt to death, have caught fire, prompting Ford to recall 4556 of the vehicles assembled between 2012 and 2014.
Absa spokesman Lies Squire said that Ford was providing each customer with a letter confirming that the vehicle had been repaired and a guarantee on the parts replaced. Standard Bank spokesman Ross Linstrom said his bank did not require such a guarantee. WesBank spokesman Rudolph Mahoney said the bank’s call centre workers were looking after the buyer’s interests.