Read about our current interest rates and fees. Clear, straightforward information for dealer introduced customers.
Discover how our interest rates work, what the standard fees are, and what borrowing from us may cost you.
Our interest rates range from 7.20% p.a to 18.00% p.a and are fixed for the full period of the loan (unless amended pursuant to the loan agreement).
The rate charged will depend on your personal circumstances, taking into account your income, financial commitments and credit history, as well as:
We calculate and add interest to your loan on the last day of the month. Talk to us if you would like to know more about how interest is calculated.
If you miss a payment, we’ll let you know by text, phone or email. If you don’t make the full payment amount, missed payment penalties may apply. You may also have to pay missed payment penalties if you break other rules of your loan contract, including:
Your loan may incorporate some or all of the following fees. Talk to us if you have questions.
When your loan is processed through AFD, you can expect the following fees to be included and payable at the time your loan is advanced:
Fee | Description | Amount |
|---|---|---|
Establishment or
Direct Establishment
| For the processing, assessing, and approving an application for finance originated through an Introducer OR; | $195.00 |
For the processing, assessing, and approving an application for finance originated directly through AFD. | $195.00 | |
PPSR | To search and maintain a security interest on the Personal Property Security Register. | $9.20 |
When your loan is processed on behalf of an AFD Dealer/Introducer, you can expect the following fee to be included and payable at the time your loan is advanced:
Fee | Description | Amount |
|---|---|---|
Dealer/Broker | For the processing of an application for finance. As charged by the dealer/Introducer. | Up to $395.00 |
The following fees apply to maintain your Credit Contract. These are added to your balance and payable at the time of processing.
Fee | Description | Amount |
|---|---|---|
Monthly Loan Administration | To cover the monthly administration costs of your loan account, charged at the end of each month. | $5.00 per month
|
Refund | Where a request is received to return overpaid funds from your loan. This means that we will deduct this fee from the amount to be refunded to you
| $10.00 |
Early Settlement | Where a loan is settled in full before the scheduled maturity date. | $35.00 |
Statement | To provide an additional statement requested by the You outside standard issuing cycle. | $5.00 |
Payment Arrangement | When a payment schedule is changed. | $20.00 |
Third Party Authorisation | Where a request is received and processed to authorise a third party to obtain information about your loan on your behalf. | $15.00 |
The following fees apply if your Credit Contract is varied. These are added to your balance and payable at the time of processing.
Fee | Description | Amount |
|---|---|---|
Loan Variation | In the event a Credit Contract variation is required, approved, and processed. | $30.00 |
Security Swap | In the event a security swap is required, approved and processed. | $30.00 |
Top Up | In the event a Credit Contract Top Up is required, approved, and processed. | $30.00 |
PPSR | To search and maintain a security interest on the Personal Property Security Register. | $9.20 |
The following applies in the event a scheduled repayment is missed and is payable from the date of the missed repayment and when a Reminder Letter is issued:
Fee | Description | Amount |
|---|---|---|
Payment Dishonour | When a scheduled Direct Debit payment (incl. Payment Promise) is dishonoured. | $10.00 |
Missed Payment | When a scheduled Automatic Payment (incl. Payment Promise) is missed. | $10.00 |
Default Interest | Default interest is charged from the time You fail to make a payment until the arrears are paid. Default interest charges are calculated by multiplying the amount in arrears at the end of the day by a daily default interest rate. The daily default interest rate is calculated by dividing the annual Default Interest Rate by 365. Interest is charged to Your Loan account at the end of each month. | 5% P.A plus the annual interest |
1st Reminder Letter | When an instalment is due and is not received, resulting in a reminder letter being sent. | $15.00 |
2nd Reminder Letter | When an instalment is due and is not received, resulting in a second reminder letter being sent. | $15.00 |
The following fees apply if repossession action is taken. These are added to your balance and payable at the time of action.
Fee | Description | Amount |
|---|---|---|
Repossession Warning Notice | When a default has occurred and has not been remedied to the satisfaction of Auto Finance Direct. | $40.00 |
Repossession Authority | When Auto Finance Direct commences repossession of the financed vehicle(s). | $110.00 |
Post Possession Notice | When Auto Finance Direct prepare and send a Post Repossession Notice. | $100.00 |
Field Agent Instruction | In the event Auto Finance Direct instructs a field agent to deliver AFD’s documents to you. | $150.00 |
Payable and charged to the account at the time the Field Agent is authorised by AFD. | ||
Issue Court Proceedings | As a result of Auto Finance Direct enforcing our rights under the Credit Contract in the case of breach or default, including third party and agent fees. Payable and charged to the account at the time the Court Proceedings are issued. | $170.00 |
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