Vehicle Sales Finance Ltd. take their responsibilities under the new Responsible Code of Lending seriously. This Act comes into place in June 2015 and supports changes / amendments to the CCCFA.
We intend to keep our clients fully informed of any changes that materially affect them and relate to their borrowings with our Company.
We will treat all borrowers and guarantors reasonably and in an ethical manner including:
- when breaches of the loan occur or when other problems arise
- when a borrower suffers unforeseen hardship (see our Hardship Policy)
- and/or during a repossession process
As a lender, we will make reasonable enquiries as to your ability to service any borrowings, i.e. granting of a loan or taking a guarantee.
It is our intention that any credit provided will meet your needs and objectives.
It is our intention that any borrower or guarantor will be able to make the payments under the loan, or comply with the guarantee, without suffering substantial hardship.
We aim to help borrowers and guarantors to make an informed decision about whether to enter into the loan or to give the guarantee. Furthermore, we aim to help you to make informed decisions in all subsequent dealings about the loan.
Full disclosure is given as to all terms of any lending and it is our intention that this is expressed in plain language in a clear, concise and intelligible manner. However, if you do have any questions please contact sue@vehiclesalesfinance.co.nz.
To see the full contract please click here
