Rates & Fees

Dealer Finance Limited Costs of Borrowing – Credit Sale Agreements and Consumer Loan & Security Agreements

This disclosure is current as at 17 September 2020

Interest Rate

The interest rate for credit sale agreements and consumer loan and security agreements vary between 9.95% per annum and 26% per annum. The interest rate under any one of these agreements is fixed for the duration of the relevant agreement term.

The interest rate applicable to any agreement will be determined during the application process. Factors which assist in determining the interest rate offered are:

  • the term of the loan;
  • whether any deposit will be paid;
  • the amount of the loan;
  • the security offered for the loan;
  • financial and supporting information provided by you;
  • your past and/or current credit history with DFL; and
  • your credit history/rating from credit bureaus and/or third parties.

Default Interest Rate

On the default in payment of any amount due under the agreement, interest will accrue on the amount in default at the higher of:

  • 24% per annum; and
  • the rate 5% higher than the standard interest rate applicable under the agreement,

from the date the payment was due until the date of payment

Credit Fees

The following credit fees are payable on the establishment of the agreement:

  • Establishment Fee of $350
  • PPSR Fee of $25

The following fees are payable during the term of the agreement

  • Monthly account maintenance fee of $8

The following fees are payable on the full prepayment of the agreement:

  • An administration fee of $50.00.
  • A fee calculated using the formula prescribed in regulation 9 of the Credit Contracts and Consumer Finance Regulations 2004 (to compensate the creditor for any loss the creditor has suffered as a result of the full prepayment).

Default Fees

The following default fees will apply to any agreement:

  • If there is a default in respect of any insurance obligations – $20.00 per default letter.
  • If there is any default in payment or in respect of any other obligations under the agreement – $20.00 per reminder letter or default notice.
  • Administration fee of $50.00 on repossession.

Dealer Finance Limited Costs of Borrowing – Business Loan and Security Agreement

This disclosure is current as at 17 December 2020

Interest Rate

Interest rates will vary, depending on your business circumstances and requirements.

The interest rate under any Business Loan and Security Agreement is fixed for the duration of the relevant Business Loan and Security Agreement.

The interest rate applicable to any Business Loan and Security Agreement will be determined by the dealer processing your application. The factors that will be considered in determining the interest rate are:

  • the amount of the loan, deposit contribution, loan term;
  • the security offered for the loan;
  • financial and supporting information provided by the business and any guarantors;
  • your past and/or current credit history with DFL; and
  • your credit history/rating from credit bureaus and/or third parties.

Default Interest Rate

On the default in payment of any amount due under a Business Loan and Security Agreement, interest will accrue on the amount in default at the higher of:

  • 24% per annum; and
  • the rate 5% higher than the standard interest rate applicable under the Business Loan and Security Agreement,

from the date the payment was due until the date of payment.

Application / Approval / Account Maintenance

Account Maintenance Fee

The account maintenance fee is payable during the term of a Business Loan and Security Agreement and is added to the loan repayment instalment.

  • Monthly account maintenance fee of $8.00

PPSR Security Fee

The PPSR security fee is the fee charged (per security item) for the process of registering new security at the commencement of the loan and eventually discharging of the security Business Loan and Security Agreement is repaid in full.

  • PPSR Fee of $25.00

Loan Variations

Fees charged to the loan account in relation to variation requests.

  • Variation of Security $125.00
  • Variation of Loan term or amount $175.00

Early Repayment

The following fees are payable on the full prepayment of the Business Loan and Security Agreement:

  • An administration fee of $50.00.
  • A fee calculated using the formula prescribed in clause 11 of our General Terms and Condition – Business Loan

Default Fees

Instalment Reminder/Default & Insurance Default

The following default fees will apply to any Business Loan and Security Agreement:

  • If there is a default in respect of any insurance obligations – $20.00 per default letter.
  • If there is any default in payment or in respect of any other obligations under the Business Loan and Security Agreement – $20.00 per reminder letter or default notice.

Repossession Order

An administration fee charged to the loan account when it is necessary to issue a Repossession Order as a result of a serious default (e.g. overdue instalments). This amount along with the arrears and any agent costs are due and payable immediately to avoid repossession.

  • Repossession Order of $50.00

Recovery Costs

Costs incurred by a third party (e.g. repossession agent, legal provider, repairer) will be charged to a loan account for the invoiced amount, copies of which are available upon request.

Post-Possession Notice $50.00

A Post possession Notice is issued within 21 days of the taking of goods by the Creditor. Fee for the issue of Post possession Notice will be charged to the loan account.

  • Post-Possession Notice $50.00

Statement of Account After Sale $75.00

Fee is charged to the loan account following production and service of this notice after sale of goods

  • Statement of Account After Sale $75.00