CREDIT GUIDE
CREDIT ASSISTANCE PROVIDER (“WE”, “US”, “OUR”)
Platform Auto Finance Pty Ltd A.B.N. 36 164 611 367
Australian Credit Licence (ACL) # 444332
1 Elgin Place, Hawthorn, Vic 3122
Email: compliance@platform.com.au
Tel: 1300 554 553
About this Credit Guide:
This Credit Guide sets out important information to help you decide whether to accept our assistance in obtaining a credit contract or consumer lease.
This Credit Guide will tell you:
- Who we are & how to contact us;
- Engagement & Conditions;
- Fees & Commissions;
- Referrers & Referral Fees;
- Our Responsible Lending obligations;
- Credit Providers we conduct consumer credit business with; and
- What to do if you have a
We are required to provide this Credit Guide to you as soon as practicable after it becomes apparent, we are likely to provide credit assistance to you.
We provide “Credit Assistance” when we:
- Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
- Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
- Suggest you remain in a particular credit contract with a particular credit provider.
Engagement and Conditions:
You (the customer) engage us (the broker) to arrange a loan on your behalf. You acknowledge that we act as an independent contractor to assist you to obtain and negotiate a loan.
Fees Payable by You:
We sometimes charge a fee for our services. More details about any fess payable will be detailed in a “Quote” we will give you before a finance application is lodged. No commission is payable by you to us, this is paid by the credit provider.
How we are paid:
We are paid commissions by Credit Providers for introducing customers. The Credit Providers we deal with will usually pay a commission based on:
- the size of the loan; and
- the particular loan product you have
We only receive a commission if your loan is settled and is paid to us either directly by the lender or paid to us by our aggregator. We may receive the following commissions after we provide credit assistance and your loan has settled.
Type | |
Commission/Brokerage. (Paid after Settlement) | Range from 0% to 5% depending on type of finance sought. |
Volume Bonus | We have a volume bonus payable by the credit provider to us. |
Method of Calculation: | Based |
If you would like a detailed
estimate of how much commission we would be paid by a
particular credit provider, we will provide this to you
Referrers and Referral fees:
In some cases, your business may have been referred to us by non- regulated third parties such as
accountants, financial planners, motor resellers etc. Where this is the case, we may pay a referral fee to these parties. If we do pay a fee to these parties, then
> They should
already have told you about this; and
We will either disclose the fee or a reasonable estimate in our Proposal Disclosure Document.
AUTHORISED CREDIT REPRESENTATIVE
Lendrive Finance – Harmohit Rahul Singh
Authorised Credit Representative number: 527100
Suite 903 50 Clarence Street, Sydney NSW 2000
Email: applications@lendrive.com.au
Tel: 1800 536 374
Alternatively, if you want to know, you can ask about the fees and we will tell you how much was paid and how it was worked out.
Preliminary Assessment:
What we will need from you:
When we provide you with credit assistance, we must only recommend credit products that are not unsuitable for you. To be able to determine which loan products are not unsuitable, we are required to complete a Preliminary Assessment. When we make this preliminary assessment, we determine:
> your requirements and objectives that is, what kind of loan do you want, and for what purpose;
> your financial and relevant personal situation; and
> your ability to repay the loan that you are considering.
In assessing these factors, we are also required to take reasonable steps to verify some of the information you provide us.
This verification may include:
> asking you for copies of documents that demonstrate your financial situation in some cases we may also need to sight original documents;
contacting third parties to assist in verifying the information that you provide.
Obtaining a copy of your Preliminary Assessment:
If we haven’t already provided it to you, you may request a copy of our Preliminary Assessment, and we must give you a copy of it:
> at any time during the first 2 of years of conduction the assessment, within 7 business days; or
> between 2 years and 7 years after it was conducted, we must provide it within 21 business days.
There is no charge for requesting or receiving a copy of the Preliminary Assessment.
Our “Consumer Credit Providers Include:
We source credit products from a range of banks, lenders and other credit providers. However, at present, we write a greater percentage of loans with the following banks, lenders and other credit providers.
These Lenders do not necessarily represent all the lenders who offer credit of the nature you seek.
Macquarie Leasing, Pepper Asset Finance, Liberty Financial, Plenti Finance, Automotive Financial Services, Wisr
Dispute Resolution and Complaints:
Within our business we follow specific procedures to try to resolve any complaints that you may have.
Internal Dispute Resolution:
If you have a complaint, please contact the disputes officer below. They will try to resolve all concerns quickly & fairly. Disputes officer at the below company:
Platform Auto Finance Pty Ltd.
1 Elgin Place, Hawthorn, Vic 3122.
Tel:1300 554 553
External Dispute Resolution:
In the unlikely event we cannot resolve your complaint in a satisfactory manner, or you have not received a response from us after 45 days, you can escalate your complaint to the below Ombudsman, a free and independent dispute resolution service provider.
Australian Financial Complaints Authority (AFCA): AFCA Tel: 1300 931 678 or info@afca.org.au
A copy of AFCA’s dispute resolution policy is available at www.afca.org.au by request.
For more information regarding anything referred to in the Credit