Incredibly slow and antiquated process, I feel victimised despite my perfect financial record
Day 1 > Pick out car
Day 2 > Apply for loan, happily approved that day
Day 3 > Painful, drawn-out, offensive pre-requisites begin:
- Asked to find out EVERYTHING re the warranty. Led to believe this was part of the process, however it was so RACV could attempt sell me their Warranty.
- Had to buy and pay for full year of Comprehensive insurance
- Provided Licence, Payslips, insurance, sale contract, bank statement. Demonstrated direct debit Rent Receipt. Not good enough. Had to go to Real Estate to pick up copy of receipt.
- Arranged to pay 5k of car up front. I paid $1000 deposit, I was called and asked why I 'lied' about the total. I explained what a deposit is.
- Asked to provide statement account I wish to have my payments deducted, not my actual savings account. Forced to transfer money and obtain a new statement to prove I had 4k.
DAY 4 - RACV cannot read faxed invoice from Dealer. I contact Dealer, not RACV, to advise. I am then informed that once the invoice arrives, I have to leave work, and go and physically sign the contract. And I am currently without a car - which is the point of the loan!
At this point I still do not have car loan & it is Friday. I am offended and angry and still no-one has taken me through the detials of my loan. I am very close to telling them to stick it and going elsewhere. Be Warned.
The interest rate. The ONLY reason I am wading through the beaurocratic red tape for a RACV Car Loan
I have NEVER jumped through so many hoops for a loan, I am waiting for the request for blood. Very disappointing and time-consuming process.
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