Personal Finance Motor Vehicles

We can arrange Consumer Car Loans for clients acquiring new and used motor vehicles being utilised wholly or predominately for personal use.

Consumer car loans are governed by the National Consumer Credit Protection Act. Leasecorp Pty Ltd is currently registered with the government to arrange consumer car loans.

Private Sale or LMCT Dealer

Motor vehicles may be purchased either from a private vendor or LMCT dealer.

Interest Rates

We endeavour to provide the lowest interest rates to our clients. The interest rates provided are extremely competitive with bank finance and LMCT dealers. Please contact our office for exact interest rates.

Loan Parameters

Loan amount	$10,000 - $150,000
Term	12 - 60 months
Vehicle age	Maximum vehicle age at maturity is 9 years
Loan establishment fee	$350.00
Origination fee	Maximum $750.00 paid to the introducer
Monthly account admin fee	$5.50
Brokerage	4% of the loan amount
Payments	Monthly in arrears or advance
Payment Method	Direct debit

Final Balloon Payments

Final balloon payments may be scheduled into the loan where it is not unsuitable for the customer. Only customers accessed by the financier as appropriately credit-worthy will be approved for final balloon payments in accordance with these guidelines:

12 - 36 month terms	Up to 40% final balloon
37 - 48 month terms	Up to 35% final balloon
49 - 60 month terms	Up to 25% final balloon

Fees Charged By The Financier

*Manual payment fee (where direct debit is not acceptable to the customer)	$300
Account information fee (when customer requests account information or statements)	$20
Current balance fee (when the customer requests an account balance)	$10
Change fee (when the customer requests a payment date change or deferment)	$20
Dishonoured payment fee	$20
Collection action fee	$20
Early repayment fee (payable prorate based on remaining term)	$750
Motor Vehicle Securities Registration fee charged per relevant state

Customer Profile

As a guide applicants will have the following attributes:

Australian citizen or permanent resident
Australian drivers license (not learner)
Permanent employment
Not bankrupt (including discharged)
No unpaid overdue debts
Loan serviceability evidenced by the financier capacity calculator
Satisfactory existing credit bureau file

Other factors including asset-backing, stability in residence and employment, deposit, loan amount and requested loan terms will also be considered when assessing the application.

The motor vehicle needs to be comprehensively insured during the term of the loan.

Responsible Lending Guidelines

It is the responsibility of both Leasecorp Pty Ltd and the lender to make appropriate enquiries of the customer to ensure the loan is not unsuitable for their circumstances.

Depending on the individual circumstances the financier may require evidence of income, property ownership, bank account balances, loan balances and other information as deemed necessary to make an appropriate decision.

For every application we require that the applicant(s) and guarantor(s) (if any) complete and sign a Privacy Consent. The applicant(s) must also complete and sign the Declaration of Financial Situation in which their financial details including income and expenditure are confirmed correct. These documents should be faxed or emailed to us.