Aug 27, 2015 03:42 PM
10855 Views
I bought a car loan for the amount of 5, 98000 from Trichy Branch TN. Me and the sales guy discussed the loan amount and Intrest rate he told me the intrest rate will be 11%. Since I was living in Chennai and I wish to buy the car in my Hometown which is Trichy. I agreed the deal and signed my papers since I dont want to cross check each and delay the process since he came from a reputed company I completely trusted him.
Then I flew back to chennai for my work in another one week my loan got sactioned and I got a log in credentials from TATA capital. Once I log in to my account I was shocked to see the intrest rate payable was 13.29% and it's not the 11% as we discussed.
Also he added Rs.5000 as the Insurance amount and said it's a standard policy for the company to insure against the Individual in case of any incidents but In the split off sheet in my online account I never saw the Insurance money added anywhere but instead its been added inside the total loan amount. Iam totally disappointed and learnt a lesson I never forget.
Each and everything he told me was a complete lie to finish of his sale.
Since I am the first time loan buyer I was un aware of so much of fraudlent activities happens even in reputed companies. Be cautious in signing your papers and always check the standard intrest rates in the company websites before talking to such frauds.
he is so cautious not to provide me with any proofs he never replies my email and he just have phone conversation with me, unluckily my phone doest have recording feature.
I will never leave this issue. No own should get cheated again like me. I will take up this issue to the top level soon I will update the thread.
