In May 2023, Avanti Finance acquired Limelight Financial Services’ software assets, including Finance Central. Loans provided by Limelight or Thorn Financial Services (ie. prior to 15th December 2023) have a different set of rates, fees and terms to those listed below. You can find these here.
The following information is provided to assist you with making your decision to take a loan with Finance Central.
| Annual Interest Rate |
10.70% - 24.20% pa fixed determined by credit risk |
|
Default Interest Rate If you do not pay an amount when due, then we will charge interest at the default interest rate on the amount which is due and unpaid while the default continues. |
The default rate is the annual interest rate at the time of the default plus 10% p.a. |
|
Establishment Fee Charged for processing and approving a new loan application or a further advance (top-up), as disclosed in the individual loan contract. |
$205 |
|
PPSR Fee A fee to search and register a security interest on the Personal Property Securities Register. |
$9.10 |
|
Dealer Fee Added to the loan and paid to the dealer. |
$500 Maximum |
|
Monthly Account Fee A monthly fee to cover the administration of a loan and processing payments. |
$9.85 per month |
|
Prepayment Fee Charged when a loan is settled in full before its final payment date. |
$28 |
|
Loan Restructure Fee Charged when we restructure an existing loan. |
$117 |
|
Third-party Correspondence / Authorisation A fee to cover the processing and entering of authorised third-party details and/or correspondence with a third-party. |
$5 |
|
Arrears Management Fee Charged to your loan if it’s in arrears for five or more days during any month. |
$33 per month |
|
Repossession Fee Charged to your loan after we effect repossession of goods secured to a loan. |
$142 |
|
Issue Court Proceedings Charged to the loan when we issue court proceedings. |
$225 |
|
Enforcement and Other Costs Payable when we make any payments or incur any costs for doing anything on behalf of a borrower or guarantor in accordance with the terms of a loan agreement or any related agreement (e.g. arranging insurance) and for any other costs or expenses we reasonably incur in connection with exercising or enforcing our rights under a loan agreement or any related agreement following a default. Copies of invoices are available on request. |
Actual third-party costs |
|
Third-Party Recovery Costs Payable when we incur any third-party costs (e.g. debt collection agent, repossession agent, court fees, legal fees, process server, valuer, auction fees) in connection with exercising or enforcing our rights under a loan agreement or any related agreement following a default. Copies of invoices are available on request. |
Actual third-party costs |
Terms and conditions: Responsible lending criteria, mandatory fees, interest, terms and conditions apply.
Interest rate 10.70% p.a. – 24.20% p.a. fixed, determined by credit risk. Mandatory fees: account fee of $9.85 per month, establishment fee of $205 and PPSR fee of $9.10 to be paid up front or capitalised over the term of the loan. Rates and fees may change.
Other non-mandatory fees and charges may also apply. Minimum term 6 months. Maximum term 60 months. Security and vehicle insurance may also be required. Credit provided by Avanti Finance Limited.