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Landmark ruling holds banks liable for faulty car sales

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Stephen Grootes speaks to Trudie Broekmann, consumer law expert about the implications of the landmark Van Niekerk v FirstRand ruling, which has reshaped consumer rights in vehicle finance. The judgement establishes that banks financing car purchases are not just lenders but can be regarded as the sellers, meaning consumers can hold them accountable for defects or misrepresentation. The ruling has already had real-world impact, as seen in the case of Busisiwe Baloyi, who is now positioned to overturn a previous court order and seek a refund after returning a defective vehicle, marking a significant shift in legal protection for car buyers in South Africa.

 

The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.  
  
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