Costs of Borrowing
The below figures apply to NFS's consumer loan contract: Effective 11/03/2023*
*These figures may change from time to time. The consumer loan contract is only available if the credit is to be used to acquire goods for personal, domestic or household purposes; and not for business use. Please contact NFS or your local Nissan dealer for information on our business finance options. All loan applications are subject to NFS's credit criteria – the below figures apply to approved applicants only.
Interest Rates
Details |
Rates that apply |
Amount |
Annual Interest Rates |
The following are the factors NFS may consider when it determines the actual annual interest rate that will apply to each loan:
- Borrower's credit history;
- Borrower's asset position;
- Borrower's risk assessment rating determined by NFS;
- The age and type of vehicle
- The term and amount of the loan
- The complexity of the loan application
|
8.54% PA to 13.54 PA |
Default Interest Rate |
NFS may charge default interest on any amount that is not paid by a borrower when it is due. |
The application annual interest rate plus 2% |
Fixed Rate Loan |
The annual interest rate for the term of each consumer loan contract is fixed. |
|
Fees that will apply
Fee Type |
Definition |
Amount |
Establisment Fee |
Payable in full at the time the loan is disbursed to the borrower. |
$375.00 |
Monthly Account Keeping Fee |
Monthly charge to cover costs of managing the loan. |
$10 per month |
Fees that may apply
Fee Type |
Definition |
Amount |
Late Payment Fee |
If the borrower makes a payment more than 21 days after it is due. |
$25.00 |
Payment Default Fee |
Each time a cheque or payment instruction is dishoured. |
$20.00 |
Contract Variation Fee |
Each time NFS agrees to a request for a variation to a consumer loan contract. |
$145.00 |
Early Termination Fee |
If for any reason, including default, a consumer loan contract terminates early during the term. |
A variable amount to cover any loss derived from breaking the funding associated with your loan. We will provide you with the amount of this fee upon request. |
Cheque Handling Fee |
When a payment is made by cheque |
$5.00 |
Information Processing and Document Fee |
Each time NFS provides, at the request of a borrower or their agent, written information about the borrower's loan account or a copy of a document relating to the consumer loan contract. |
$15.00 |
Refund Processing Fee |
If there is any positive balance remaining in a borrower's account at the time the borrower has repaid the loan in full. |
$5.00 |
Enforcement Expense |
If a default occurs under the consumer loan contract and NFS takes steps to enforce the contract or a security under it. |
All costs, liabilities and expenses we incur in excercising our power after a default occurs. |
Dealer Originating Fee |
This fee refers to the Dealership's cost of originating the loan on behalf of NFS |
Up to $495.00 |
Personal Property Securities Register Processing Fee |
This is the cost to us of searching and registering a security interest on the Personal Property Security Register. |
$8.05 |
Make a finance Enquiry