[Resolved]  Bajaj Auto Finance Ltd — hidden info regarding number of EMIs

Address: Chennai, Tamil Nadu

Dear Sir,
I would like to bring to your notice the following facts and figures:-

(i) Total Value of the vehicle: dt: 26 Mar 2009: Rs. 45, 465/-
(ii) Down Payment made 25&26 Mar 09: less- Rs.16,045/- :
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Balance amount : Rs. 29,420/-
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(iii) Loan EMI as told by your reps: Rs. 1885 X 20 months = Rs. 37,700/-
(as per your statement the amount is
Rs. 1885/- X 24 = Rs. 45, 240/-)

(iv) Advance 4 EMIs paid: Adv cheque given: less = Rs. 7,540/-
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Balance amount : Rs. 30,160/-
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(v) EMI Paid from:06.05.09 to 06.05.10: 13 EMIs = less Rs. 24,505/-

13 EMIsXRs.1885/ = Rs. 24,505 [protected]------
Balance EMI to be paid: Rs. 5,655/-
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(vi) Therefore the balance THREE EMIs to be paid Rs. 1885 X 3 =Rs. 5,655/- Only

As per your given statement the amount is Rs. 1885/- X 24 = Rs. 45, 240/-. It is seen that the Number of EMIs are mentioned as 24 as against 20 EMIs told to me while taking the loan.
After that I have not received any statement. I have approached the dealer place and asked. the reps who had discussed this did not even bother my request. After repeated emails I got the statement.

In view of the above I have to pay 3 EMIs i.e on 06 Jun 10 , 06 Jul 10 & 06 Aug 10 Only = Rs. 5,655/-

Bajaj Auto fianance reps told that 20 EMIs including the 4 Adv cheque. And hence 16 EMIs to be paid by me through ECS from my acccount.

Dealer place : Jai Bajaj, Jai Autos, 110, Arya Gowder Road, West Mambalam, Chennai - 600033.

But, now its seems to be a cheating and hiding information to the customer while giving loan, telling something to get the order. Which is ridicules. I have all the bills paid to the dealer and the handwritten paper given by your reps while discussing the loan amount.

with regards,

(K Rangarajan)
Ex-Sgt, Indian Air Force No: 766770-A
Ex-Servicemen Card No:TN[protected]
Cell:[protected].