Cost of Borrowing

The below figures apply to NFS's consumer loan contract: Effective 16/06/2015*

*These figures may change from time to time. The consumer loan contract is only available if the credit is to be used to acquire goods for personal, domestic or household purposes; and not for business use. Please contact NFS or West Auckland Nissan for information on our business finance options. All loan applications are subject to NFS's credit criteria – the below figures apply to approved applicants only.

Interest Rates

Details

Rates that apply Amount
Annual Interest Rate

The following are the factors NFS may consider when it determines the actual annual interest rate that will apply to each loan:

  • Borrower's credit history;
  • Borrower's asset position;
  • Borrower's risk assessment rating determined by NFS;
  • The age and type of vehicle
  • The term and amount of the loan.
  • The complexity of the loan application
8.05 %PA to 16.05% PA
Default Interest Rate NFS may charge default interest on any amount that is not paid by a borrower when it is due. The applicable annual interest rate plus 2%

Fixed Rate Loan

The annual interest rate for the term of each consumer loan contract is fixed.

Fees that will apply

Fee type Definition Amount
Dealer Origination Fee This fee covers the cost to the Dealer of preparing and processing your application for finance. $449.00

Establishment Fee

Payable in full at the time the loan is disbursed to the borrower. $375.00

Monthly Account Keeping Fee

Monthly charge to cover costs of managing the loan. $10 per month

Fees that may apply

Fee type Definition Amount
Late Payment Fee If the borrower makes a payment more than 21 days after it is due. $25.00
Payment Dishonour Fee Each time a cheque or payment instruction is dishonoured. $20.00
Contract Variation Fee Each time NFS agrees to a request for a variation to a consumer loan contract. $145.00
Early Termination Fee If for any reason, including default, a consumer loan contract terminates early during the term. $150.00
Cheque Handling Fee When a payment is made by cheque. $5.00
Information Processing and Document Fee Each time NFS provides, at the request of a borrower or their agent, written information about the borrower's loan account or a copy of a document relating to the consumer loan contract. $15.00
Refund Processing Fee If there is any positive balance remaining in a borrower's account at the time the borrower has repaid the loan in full. $5.00 Enforcement Expense If a default occurs under the consumer loan contract and NFS takes steps to enforce the contract or a security under it. All costs, liabilities and expenses we incur in exercising our powers after a default occurs