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We provide options for good and bad credit clients.

Both may apply. Applications are subject to our lending criteria, ensuring that any car payment is affordable for you and your family and that it will fit comfortably within your weekly budget. Applications may be declined

Repossession Procedure

Vehicle Sales & Finance Ltd. Repossession Policy

It is not our intention that you fail with your loan, and we make this very clear at the start of the loan. We are hopefully assisting you to rebuild your credit history by paying well with us.

When we provide you with a loan and vehicle we will ensure that the payments are affordable from your current weekly budget. We provide avenues for you to talk to us about payment arrangements, but when these are blatantly ignored we are often left with no reasonable course of action other than to commence the repossession process.

When your vehicle is provided to you it has a PPSR (Personal Property Securities Register) security lodged on it. This is noted in the PPSR Security Register. This means that you are unable to give away, sell or destroy the vehicle. The vehicle’s clear title does not pass to you until the car is fully paid i.e. your loan is fully paid. At this time we will remove the PPSR security.

To be clear – we have a zero-tolerance policy to avoidance and non-contact. We expect to be notified of any movement in your address, change in your email and phone details, and of course, any address where our vehicle is being kept. Likewise, we expect to be informed of any change in your circumstances.

When you apply for a loan you are advised that we have strict credit control procedures. If you miss a payment without making prior contact to explain, this will signal to us that something has gone amiss with your ability to afford to meet your repayment obligations. If we are then not able to get in touch with you in a reasonable timeframe, repossession procedures will commence, and the necessary statutory notices issued. This means we will issue you with a Repossession Warning Notice (RWN) to notify you of our intention to repossess the vehicle. You will then have a period of 15 days to bring your account into order or your vehicle will be repossessed.

If we believe the vehicle is being hidden/concealed or has been on-sold or disposed of in any way, this will result in an immediate Security at Risk Repossession (SARR) notice being issued. This is due to the Security (the Vehicle) being deemed to be “at Risk” and therefore the Finance Company will seek immediate possession of the vehicle.

Please remember all times you must have a current WOF, registration and insurance on your car. Failure to have current WOF and registration will void any insurance coverage on the vehicle. Allowing these items to lapse also constitutes a clear breach of your finance contract.

These are the steps that we take:

1. We will issue you with a Repossession Warning Notice (RWN) to notify you of our intention to repossess the vehicle. 

2. You will then have 15 days to bring your account into order by paying the total arrears as stated on the repossession order, otherwise your vehicle will be repossessed.

3. You may be able to surrender (give the vehicle back) provided that you make a satisfactory arrangement with us – please note there may be costs associated with surrendering the vehicle.

4. All Repossession Agents must be licensed and carry a Certificate of Approval. You have the right to inspect the Security Agents License.

5. Our company policy is that we will not repossess your household items.

6. We will attempt to carry out repossession of the vehicle at a time that you, the borrower, are present on your premises. However, this is not always possible, therefore to avoid any need for forced entry please comply with the security agent’s attempts to communicate with you to facilitate an amicable repossession.

7. Should you wish to deliver the vehicle to us then you are able to make this arrangement prior to one of our Security Agents visiting your premises, however, this must be done by arranging a suitable time.

8. Please ensure that you remove all personal items from the vehicle prior to any repossession.

9. Following repossession you will receive the appropriate documentation as required by Law within 7 days. In some instances, this notice will be delayed where need to get repair quotes to make the vehicle roadworthy to the WOF standards required by Waka Kotahi (NZTA).

Please be aware that there are serious consequences for the obstruction of a lawful repossession.

Privacy Waiver

I/We apply for a loan and certify that the particulars above and overleaf are true and correct, and that I/we are over the age of 18 years and are not undischarged bankrupts.

Pursuant to the Privacy Act 2020, I/we authorise the Finance Company and any related finance company to contact any credit reporting agencies, credit providers, employers, Government agencies or departments, accountants, identity verification providers, debt collection agencies, repossession agents, insurers, or any other source, to obtain, check, collect and exchange (both now and in the future) such personal, financial, credit and commercial information and references about me/us as is necessary for the purpose of considering this application, verifying my/our identity, administering and protecting any loan arising from this application, enforcing any agreement between me/us and the Finance Company, recovering any monies owing, or complying with legal and regulatory obligations.

I/We understand that personal information may also be collected indirectly from third parties in accordance with the Information Privacy Principles, including IPP3A, where permitted by law.

I/We agree that this authority may be provided to such parties for the purposes of obtaining or correcting such information. Under the provisions of the Privacy Act 2020, I/we are entitled to request access to and correction of any personal information held about me/us.

Furthermore, I/we specifically authorise the Finance Company to undertake a credit check for any Ministry of Justice overdue fines that may be outstanding. Overdue fines are defined as fines or reparations overdue for payment to the Ministry of Justice and not subject to a current payment arrangement.