Consumer Loan Rates, Fees and Terms

Rates

Interest rates range from 8.95% p.a. to 15.95% p.a. The rate charged will depend on your financial circumstances, taking into account:

  • how much you want to borrow
  • the term of your loan
  • your income
  • your other financial commitments
  • your credit history

To understand the rate that will apply to you please call 0800 85 20 20.

Default interest rates

If you do not pay an amount when it is due, then we will charge you interest at a default interest rate of 6% per annum above the then current interest rate.

Fees

Schedule of Standard Fees and Charges Applied to Consumer Loan and Security Contracts

Application / Approval / Account Maintenance

Establishment Fee (Direct) - $229.00

We will charge you this fee for processing a new loan application made directly to us, including approval and acceptance.

Establishment Fee (Intermediary) - Up to $112.00

We will charge you a fee of up to $112.00 for processing a new loan application via an intermediary, including approval and acceptance.

Dealer/Broker/Introducer Fee - Up to $500.00

We may charge you a fee of up to $500.00 which we will pay to any dealer/ broker/introducer who refers you to us in relation to the loan.

PPSR Fee - $10.35

We will charge you this fee for registration of our security interest in the goods.

Refund Fee - $20.00

We will charge you this fee if you overpay us and we refund you.

Early Settlement Fee - $23.00

Debited to the account when a loan is settled in full before its final payment date.

Statement Fee - $4.00

We will charge you this fee if we give you (at your request) an additional statement. We do not charge you this fee for providing any six monthly continuing disclosure statements.

Caveat Fee - Actual Cost

If we register a caveat over any of your property at any time, we will charge you caveat registration and release costs.

Mortgage Fee - Actual Cost

If we register a mortgage over your property at any time, we will charge you mortgage registration costs.

Modifications

Variation Fee - $80.00

We will charge you this fee if we agree you can make an unscheduled part prepayment of the loan and we have to change the amounts and dates in the SCHEDULE OF PAYMENTS on page 1 of these Commercial Terms as a result, or if we agree to release our security interest in the Goods and substitute it with a security interest over other Goods.

Collections

Repossession Warning Notice Fee - $55.00

We will charge you this fee if we have to send you a Repossession Warning Notice. We usually do this 12-15 days after you have breached your loan agreement (e.g. overdue payments).

Couriered Letter Fee - $3.00

We will charge you this fee if a letter is couriered to you. Letters may be couriered to you if your Loan is in arrears and/or we are having difficulty contacting you about your Loan.

Dishonoured Payment Fee - $3.00

We will charge you this fee if your bank dishonours a payment you make to us.

Repossession Warrant Fee - $134.00

We will charge you this fee if we have to instruct an agent to repossess the goods (for example, due to overdue payments).

Repossession Fee - $149.00

We will charge you this fee if we have to repossess the Goods.

Repossessed Vehicle Sales Fee

We will charge you this fee if we sell the Goods. We select the method of sale in order to obtain the best price reasonably obtainable for the Goods and the fee will differ depending on how the Goods are sold as follows:

If we sell the Goods through our outlet, as a registered motor vehicle trader;

$770.00

OR

If we sell the Goods in any other manner.

Actual Cost

Debit card fee - $0.36c plus 1.63% of the payment amount

We will charge you this fee when you make a payment on your Loan by debit card. The fee for each payment will be $0.36c plus 1.63% of the payment amount. This fee will be deducted from your payment when it is made.

Recovery Costs - Actual Cost

We will charge you any costs charged by third parties relating to your loan or this agreement (e.g. repossession agent, legal provider, repairer). We can provide copies of the invoices on request.