Dealer Finance Limited (“DFL”) is a co-operative finance company made up of dealership members. The company has a successful trading history dating back to July 1973 of assisting thousands of customers throughout New Zealand with the purchase of motor vehicles and motor homes.
We are always looking for solid and reputable dealerships to join and grow with our company. In order to become a member (shareholder) of Dealer Finance Limited you need to do business with (i.e. write finance deals for) DFL.
There are two main documents which facilitate membership with Dealer Finance.
Share Subscription Agreement; and
The minimum subscription (or “Standard Shareholding”) for shares in DFL is 20,000 shares or $20,000 (being nominal value shares at $1.00 per share). In addition to the Standard Shareholding members are required to maintain, in the form of a shareholders’ current account, a percentage of its total ledger contingent liability outstanding from time to time of deals written and assigned to DFL.
As a co-operative company all profits made by DFL are returned to its shareholder members each year. Members receive a proportionate distribution of the profits based on the percentage of interest income from deals written by the member during the year. Profit distribution is split into company profit and individual member profit. In addition, DFL pays attractive interest rates on members’ funds (your share capital and your current account).