The Eastern Cape High Court in Port Elizabeth reserved judgment following argument regarding the R699 car sales scheme, a lawyer representing consumers said on Thursday.<\/p>\n
“The matter was argued on an urgent basis and judgment was reserved,” Duncan Heuer said.<\/p>\n
“A date was not given. The judge will notify us of his judgment.”<\/p>\n
A group of apparently 550 consumers – led by Heuer of Pieterse Cary Finlaison – approached the court to declare contracts between the banks and car buyers null and void.<\/p>\n
About 17,000 people were believed to have been affected by the scheme which offered to cut repayments on new cars to about R699, if the motorists drove a minimum distance with pasted advertisements about the scheme on their cars.<\/p>\n
The scheme collapsed in July – with banks now calling for full repayments – amounts not affordable for all those involved.<\/p>\n
R699 car numbers shock<\/strong><\/a><\/p>\n Absa\u2019s R700 million exposure to R699 cars<\/a><\/strong><\/p>\n Banks hit back in R699 car scheme<\/strong><\/a><\/p>\n