THOUSANDS motorists who were lured into buying new cars by an attractive offer meant to see them paying as little as R699 a month are up in arms after the company managing the deal, Satinsky Group, unexpectedly cut its losses with its Hong Kong-based holding company.
Many car owners who bought into the “Drive a new car for R699 a month” deal — that saw them driving a car branded with the advertisement and paid out monthly fees that went towards covering their instalments — said they were plunged into financial crisis this week when their rebates were not paid out this month.
Consumers were left confused as to whether to direct their anger at Satinsky or the Hong Kong-based Blue Lake Trading and Promotions.
Word quickly spread via social media and word of mouth that the companies had gone bust. Many said they were in the dark as phone calls and emails to Satinsky went unanswered.
Frustrated drivers in Nelson Mandela Bay, like others around the country, said they received the shock of their lives when they logged onto the Satinsky website to upload pictures of their cars and odometer readings to qualify for up to 100% of their monthly instalment paid back, only to find a notice that the company was no longer part of the deal.
Satinsky Group is headed by Pretoria businessman Albert Venter, who developed this marketing model about three years ago as a means to sell affordable cars to consumers who had fallen on tough economic times.
The company sold