I-Me Solutions bike finance

[Warm-Patat]

I paid the deposit straight into I-me solutions account. Thank you everyone. I made a super bad mistake. It seemed like a reputable company.

I-me finance it gets advertised everywhere

[Dirkitech]

I paid the deposit straight into I-me solutions account. Thank you everyone. I made a super bad mistake. It seemed like a reputable company.

I-me finance it gets advertised everywhere

No kidding, its in store and online all over the place like a parasite, but a parasite I considered until this. Same with MiWay, considered them with the bunch of available insurance options until user feedback shed a poor light.

From the calculations and values that's been posted, it does look like they did you in largely with the deposit though. Hope you get some assistance to take this further!

I'll be avoiding this company when I start looking at "track biking" again, so you still have my thanks.

[Rust Never Sleeps]

Before signing an asset finance contract make sure that you have been told what the repayments, interest rates etc are. Most finance companies have calculators on their websites-test these before you buy. They should also have a FAQ section on the website covering things like early settlement scenarios, deposits, defaults etc. Most finance companies are registered credit providers -this should also reflect on their documentation

[Fruity]

Can't say I'm a big fan of getting stuff on credit. If I can't afford something, then I can't afford something. I had a credit card a few years ago, and only had it for a few weeks until I took the scissors to it.

[Devlin Fogg]

Sorry to hear man, reading this it sounds like it was closer to being modelled on a leasing to buy or residual basis, as opposed to a straightforward financing deal? 

 

Hope you come right. Topic is worth keeping an eye on though.

Wonder how the likes of Wesbank/Yondo fair against this, or their views. Would imagine it creates a bad perception that would affect them.

It's a valid point you raise because it can affect us at Yonda, so I will point out some facts on our side as opposed to trashing the other guys. Yonda and Wesbank have partnered to offer bicycle finance, so you have the assurance that the financial institution is compliant with the necessary laws. Our rates to date average out at 14,5%. There is normally a 10% deposit required, which is deducted from the financed amount, reducing your loan amount. You can settle early, there is no penalty, and you only settle the outstanding capital amount, not all the interest owed. Hope this helps. Always happy to chat things through with fellow riders if they need more info.

[intern]

Can't say I'm a big fan of getting stuff on credit. If I can't afford something, then I can't afford something. I had a credit card a few years ago, and only had it for a few weeks until I took the scissors to it.

A credit card is not a loan and nor is it for 'credit'. It is merely a means of payment. Use it properly and it is a very handy thing to have...helps with cashflow smoothing (extra 60 days can be nice for a small business), preserves 'capital' (those of us with 20c still fool ourselves we have 'capital lol) and racks up airpoints.

[Skubarra]

Same with MiWay, considered them with the bunch of available insurance options until user feedback shed a poor light.

 

Not to hijack this thread but that little cheap shot is unfair... The feedback they receive on a site like hellopeter suggests otherwise.

[Warm-Patat]

Not to hijack this thread but that little cheap shot is unfair... The feedback they receive on a site like hellopeter suggests otherwise.

No reply from them and they don't want to explain. What can I do now, I at least want the deposit back R20 000 

[VicanZA]

ride what you can afford, dont finance toys.... 

[Patchelicious]

No reply from them and they don't want to explain. What can I do now, I at least want the deposit back R20 000

Go to the FSB, they have some tough people working there that don’t like this type of thing.

[Skubarra]

No reply from them and they don't want to explain. What can I do now, I at least want the deposit back R20 000 

 

sorry Warm-Patat - was referring to the comment about MiWay

 

Hi-jacked your thread a little

 

Thanks for the warning on I-Me!

[Warm-Patat]

Pleasure just hope paying this school fees can atleast help other people. But I am on this company.

[Escapee..]

Pleasure just hope paying this school fees can atleast help other people. But I am on this company.

 

Any news yet? Have you contacted the FSB?

[Warm-Patat]

Hi will keep you guys posted, I went to an attorney Yesterday. It seems fishy to them too. Atleast I am in a direction now

[chris30#]

Hi guys any news come from this yet. I am about to finish my 2 years with these guys. And just wanted to know about the deposit and what happened. Also no emails are getting a response.

Thanks

[ChunkyMonkey]

Haaa haa...

I see a lot of shops linked to I- Me Finance... (as per Google)

 

And now suddenly..as you might expect, I- Me Finance’s server is down...

Wooooeeeeehhhh “500 internal server error”..... well now you cant use their calculator......

 

Could a little bandit be heading for the hills then?

 

Good luck.... I hope you get that cash back pronto.!