Important information about this document
This document is the Credit Provider Credit Guide ("Credit Guide") of Cars on Terms Pty Ltd ("Cars on Terms"),
ABN 11 123 544 249, - Aust Credit Licence No. 391299.
In this Credit Guide "we", "our" and "us" mean Cars on Terms.
This Credit Guide contains important information about Cars on Terms and our obligations as a credit provider. The National Consumer Credit Protection Act 2009 requires us to provide this information to you when it becomes apparent to us you are likely to enter a credit contract with us.
Who is the Credit Provider?
Cars on Terms Pty Ltd is a credit provider of secured automotive loans. If you choose to obtain a loan, and we agree, you will enter a credit contract with Cars on Terms Pty Ltd.
How can you contact us?
Our Head Office is located at:
1223 Logan Rd, Mt Gravatt Qld 4122
Mail at: 1223 Logan Rd Mt Gravatt Qld 4122
In person: 1223 Logan Rd Mt Gravatt Qld 4122
What happens when you ask us for credit?
When you ask us for a credit, we will make an assessment to determine whether the credit you are seeking is not unsuitable for you. To enable us to undertake this assessment, we will ask you to provide us with information about:
your requirements and objectives for the credit you are seeking, including the purpose of the credit; and
your current financial situation
As part of our assessment, we will take reasonable steps to verify the financial information that you provide to us. However, it is important that you provide us with all relevant information about your financial situation, including any foreseeable changes that may affect your ability to repay the proposed loan. You should also let us know immediately if your financial circumstances change.
When would the credit be unsuitable for you?
We will make an assessment to determine whether a credit contract or credit limit increase is unsuitable for you based on the information you provide to us about your financial situation, your requirements and objectives and the information we obtain from the reasonable steps we have taken to verify your financial situation.
A credit contract would be unsuitable for you if at the time the credit contract is entered:
is it likely you will not be able to comply with the financial obligations under the contract, or you could only comply with substantial hardship; or
the contract does not meet your requirements of objectives.
We will not enter a credit contract with you if we assess the contract is unsuitable for you.
How can I obtain a copy of the assessment?
In most cases, we will provide you with a written copy of our assessment with your loan documents.
You can ask us for a copy of the assessment at any time before you enter the credit contract or the credit limit is increased. If you make such a request, the credit contract must not be entered until we have provided the assessment to you. You should notify us immediately if the information on the assessment document is incorrect or has changed.
You can also ask us for a copy of the written assessment up to 7 years after the date the credit contract was entered into or the credit limit was increased.
If you request for a copy of the assessment is made after you have entered into the credit contract, a written copy of the assessment will be provided to you:
within 7 business days of receiving your request, if the request is made within 2 years from the day you entered into the credit contract; or
within 21 business days of receiving the request, if the request is made more than 2 years but less than 7 years from the day you entered into the credit contract.
Who can I contact if I have a Problem or Complaint?
We can help you with any complaints you might have and we would like to hear about these. If you have a complaint concerning your credit contract, please tell us.
Our aim is to sort out most problems at first contact
Hardship/Dispute/Complaint Resolution Procedure:
To ensure the successful handling of any difficulties a customer may have with their finance we have developed the following dispute resolution procedures.
1. Please telephone Shenae in Accounts on 0433 792 646 (preferable) or 3349 4848 to:
a. Advise of the problems you are having; and
b. Any solutions you are seeking.
- Generally most problems can be sorted out at first contact; if not a verbal response will be provided within 7 days of first contact followed by a final written response
c. We are happy to accept other means of contact either by Email: firstname.lastname@example.org or letter to the above address
2. Should the suggestions provided by Shenae be unsuitable the Dispute may be escalated to the Credit Manager, Rodney Clayton
i. advise of the problems you are having and
a. Please email (email@example.com (preferred)), phone 3349 4848, or write to the above address, as soon as possible with the following:
ii. any solutions you are seeking.
iii. Dates and times of your previous correspondence
iv.Your thoughts on the solutions offered
b. The Credit Manager will then contact you within 14 days of the date of verbal response by our Accounts area (ie we will seek to have a final decision by 21 days after you first contacted our office)
3. CARS ON TERMS also is a member of the Credit and Investments Ombudsman (CIO)
i. External Dispute Resolution is a free service established to provide you with and independent mechanism to resolve specific complaints
ii. In the unlikely event that we are unable to resolve your dispute you may contact CIO
iii. Their contact details are: 1800 138 422 or www.cosl.com.au