AFS Fees & Charges
It's important that you fully understand the fees and charges associated with a particular credit product.
For your convenience, please find a list of fees and charges that are payable in relation to the AFS Loan Contract & Mortgage product that is regulated by the National Consumer Credit Protection Act 2009. Please note that these credit fees and charges are only payable if you enter into a consumer credit contract with AFS.*
The following upfront credit fees and charges are payable to AFS on the settlement date of the loan. They are only payable if you proceed with the loan and are included in the amount of credit.
| Fee Type | Fee Description | Fee Amount |
|---|---|---|
| Establishment Fee | Represents the reasonable costs for AFS to provide credit to you | $445 |
| Credit Search Fee | Represents the reasonable cost for AFS to conduct the necessary credit bureau searches per applicant | $10.68 |
| Security Registration Fee | Represents the reasonable cost for AFS to register our financial interest in the goods | $9.50 |
The following credit fees and charges are payable to AFS during the term of the loan.
| Fee Type | Fee Description | Fee Amount |
|---|---|---|
| Monthly Administration Fee | Represents the reasonable monthly cost for AFS to administer your loan whilst active | $12 |
The following credit fees and charges may become payable to AFS during the term of the loan.
| Fee Type | Fee Description | Fee Amount |
|---|---|---|
| Early Termination Fee** |
Represents the fee that will be payable when you pay out your loan contract in full before the expiration of the term of the loan. The amount of the fee as at the disclosure date is $600 and thereafter the amount of the fee is $600 multiplied by the number of unexpired whole months in the term of the loan at the time this contract is paid out and divided by the number of whole months in the term of the loan
|
Pro-rata |
| Dishonour Fee | Represents the reasonable cost for AFS to process the dishonour of a loan repayment on each occasion | $12 |
| Repayment Book Fee | Represents the reasonable cost for AFS to generate and issue a new repayment book on each occasion | $35 |
Fees and Charges disclosed above are current as at 1st October 2019 but may change from time to time. Other fees and charges may be payable. Please review the credit fees and charges detailed in the pre-contractual statement for the specific loan that you have chosen.
* Interest rate (Annual Percentage Rate/APR) is only applicable for new goods that have not been pre-owned, where the amount borrowed is between $35,000 - $100,000 and where where the applicant owns or is buying a property and has an established good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Credit provider is Automotive Financial Services Pty Limited – Australian credit licence 383762. ^Comparison rate for AFS Loan Contract and Mortgage is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
** Only applicable for the AFS Loan Contract & Mortgage product. Please read the relevant product Terms & Conditions and pre-contractual statement (if applicable) if you are considering another loan product or lease.
# If you use a licensed finance broker to assist you in applying for credit there may be other fees and charges payable, such as a Finance Broker Fee or Origination Fee. AFS enables you to finance an Origination Fee as part of the Amount of Credit up to a maximum value of $990 including GST. An Origination Fee represents the finance broker's fee to provide credit assistance to you. It is a one off fee that is only payable if you proceed with the suggested credit contract. Under the National Credit Code, a Finance Broker is required to give you their Credit Guide, a Credit Quote and, at the same time as providing credit assistance to you, give you a Credit Proposal Disclosure document which will detail all the fees and charges payable and if any commission will be received by the finance broker.
If you use a licensed finance broker to assist you in applying for credit there may be other fees and charges payable, such as a Finance Broker Fee or Origination Fee.
An Origination Fee represents the finance broker's fee to provide credit assistance to you.
It is one off fee that is only payable if you proceed with the suggested credit contract.
Under the National Credit Code, a Finance Broker is required to give you their Credit Guide, a Credit Quote and, at the same time as providing credit assistance to you, give you a Credit Proposal Disclosure document which will detail all the fees and charges payable and if any commission will be received by the finance broker.
AFS enables you to finance an Origination Fee as part of the Amount of Credit up to a maximum value of $990 including GST.
