Establishment Fee
This is a fee for receiving and processing the loan application together with acceptance and establishment of the loan and is added to the loan contract when the loan is drawn. Secured Loan $250. Unsecured Loan $200.
Credit Check $10.52
This is the cost to carry out a credit check on an individual borrower.
Licence Check $3.62
This is the cost to obtain a NZ Drivers Licence check.
Vehicle Check $15.35
This is the cost of obtaining a check on motor vehicle registration details.
PPSR Search Fees $2.30
This is the cost per person/vehicle to search the Personal Property SecurityRegister.
PPSR Registration $8.05
This is the cost associated with the registration of security on the PPSR
Contract Variation $25.00
Fee is charged when the goods/security on the loan contract are to be changed.
Dishonoured Payment Fee $2.50
Fee is charged to the loan account in the event of a payment dishonoured by your bank.
Reminder Letter Fee $3.00
Fee is charged to the loan account where a Credit Controller is required to send a letter to you regarding overdue amount/s on your loan account.
Repossession Warning Notice $30.00
Fee is charged to a loan account when a Prepossession Notice is issued.
Repossession Authority $65.00
Fee is charged to the loan account when it is necessary to issue aRepossession Warrant as a result of a serious default (e.g. overdue instalments).
Repossession Costs
Costs incurred by a third party (e.g. repossession agent, legal provider, repairer, storage costs) will be charged to your loan account. Copies of invoices will be provided upon request.
Post-Repossession Notice $10.00
Fee for the issue of Post-Repossession Notice (which is issued prior to the repossession of security) will be charged to your loan account.
Statement of Account After Sale $10.00
Fee is charged to your loan account following production and service of this notice, within 10 days of the sale being affected.
Insurance
The cost of insurance cover for Loan Repayment Insurance and Accidental Death Insurance maybe included in the loan. The premium financed will be paid to the relevant insurance company and provide insurance cover for the period stated in each insurance proposal.
Default Fee $2.50
Fee is charged in the event that the loan contract has been breached. This compensates us for the costs incurred by us in connection with the enforcement or the remedy of a breach under the agreement.
Administration Fee $2.50
Fee is charged per instalment ie weekly, fortnightly or monthly depending on your repayment frequency.
Default Interest Rate
Default Rate is 5.00% per annum above your Annual Interest Rate.