FEES, CONTRACTS & CHARGES.
Standard fees and charges applicable to Consumer Contracts.
CREDIT FEES
ESTABLISHMENT FEE
This fee covers the cost of processing, assessing and approving your finance application. It will only be charged if your finance application is approved.$105
DEALER FEE
This fee covers the cost to the Dealer of preparing and processing your application for finance.Up to $500
PPSR
This is the cost to us of searching and registering a security interest on the Personal Property Security Register.$10.35
MAINTENENCE
This fee will be charged to align with the frequency of your loan repayments and covers the cost of keeping your loan active$2/month
VARIATION FEES
VARIATION OF CONTRACT.
Charged when a variation, assignment or an unscheduled part prepayment is completed. This fee is payable at the time UDC consents to the variation, assignment or part pre-payment. $25
EARLY SETTLEMENT
If you repay your loan in full before the final payment, then two different fees are charged:
A fixed fee to cover the cost of settling your loan. $15. A variable fee to cover any loss derived from breaking the funding associated with your loan. To find out more information on early repayment fees, please refer to the following fact sheet. $variable amount. Total: $7.00 plus a variable amount
These fees are effective from 20 January 2020 for loan applications received on or after this date.
Terms and Conditions:
Collections Fees
Default interest charge
Default interest is calculated at the rate of 5% per annum plus the annual interest rate
referred to in your contract. If you fail to make any payment on the due date default interest
is payable on the overdue amount from the due date until the date UDC receives full
payment of that overdue amount. 5% p.a. plus the annual interest rate stipulated in your contract
Dishonour fee
Charged when a scheduled loan payment is dishonoured by your bank or when an automatic
payment fails. The fee is payable and will be debited to your account at the time the relevant
payment was due. $3.50
Late payment fee
Charged when a scheduled loan payment is not made on time and remains unpaid for seven
days. The fee is payable and will be debited to your account seven days after the due date
for payment. $60.00
Repossession action fee
Payable in the event UDC commences repossession of the asset(s) taken as security. This
fee will be debited to your account at the time repossession action is commenced. $50.00
Post repossession fee
This fee is payable and will be debited to your account after realisation of the assets or
abandonment of realisation.
These fees are effective from 20 January 2020 for loan applications received on or after this date.
