Costs of borrowing

Credit fees and charges

The following credit fees and charges are, or may become, payable under, or in connection with, the contract:

Annual interest rate: 39% fixed for the whole contract

Establishment fee: $328.00

Monthly Administration fee $18.00 per month as long as there is an unpaid balance.

Payment rescheduling fee of $20.00 each time you ask and we agree for a payment date or amount to be changed that will extend the term of the contract.

$150.00 fee if you wish to alter security of for any variation of this agreement where we agree you can replace a collateral motor vehicle with another vehicle.

$35.00 Early full repayment administration fee if you prepay the unpaid balance in full.

Security check and PPSA registration and removal: at cost

Default fees and charges

Defaulted payment and notification fee of $28.00 if any regular payment to the lender is made late after the due date or is reversed or dishonoured or is otherwise not made.

Annual default interest rate is 48%, which is 9% per annum greater than the rate shown for interest, and is charged to your account monthly. However, default interest is only charged on the overdue amount until you are no longer in default.

Fee for preparing and sending a repossession warning notice – at cost incurred

Fee to issue a warrant to a repossession agent to seize goods and to issue any other legally required documents – at cost incurred

Fee to send a post repossession notice – at cost incurred

Enforcement/debt collection costs: in the event of your default and the file is transferred to debt collection.