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Westpac, St George: Banks hit by class action over car loan ‘flex commissions’ – NEWS.com.au
Westpac, St George: Banks hit by class action over car loan ‘flex commissions’
When Alannah Fox bought her first new car, she trusted she was getting a fair deal on her loan.Instead, the teachers’ aide, who was 25 at the time, was charged 12.99 per cent on a loan of just over $47,000 – which meant she had to pay a staggering $24,864 in interest for her 2015 Hyundai ix35.
She claims she was only told of the interest rate after the deal was struck.
“They didn’t tell me the interest rate until I went to pick up the car. We bargained hard on the initial price, but I believe …
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