Credit Guide & Privacy Policy
Affinity Asset Finance Pty Ltd (ABN 80 676 851 111, ACN 676 851 111) is an Authorised Credit Representative (#558224) of Australian Credit Licence #414426, held by AFAS Group Pty Ltd (ABN 12 134 138 686).
Credit Guide
The National Consumer Credit Protection Act 2009 requires us to provide consumers with a Credit Guide as soon as it becomes clear we're likely to provide credit assistance. It covers the services we provide, our obligations to ensure credit is not unsuitable for your circumstances, the maximum fees and charges payable to us, and details of our complaints process.
Services We Provide
Our credit assistance services in sourcing and arranging a suitable loan include:
- Obtaining further information from, including but not limited to, employers, accountants, and credit reporting agencies
- Investigating suitable loans and providing you with information about one or more loans that meet your objectives
- Assessing, verifying, and documenting information, to ensure the chosen loan is not unsuitable for you
- Helping you complete the application, compiling the documents required by the credit provider, and submitting the application
- Liaising with the credit provider during the approval process, providing any further information required, and notifying you of the credit provider's decision
- Assisting with the finalisation of the loan required
Ensuring Credit Is Not Unsuitable
To help us ascertain that a credit contract is not unsuitable, we're required by law to:
- Make reasonable enquiries about your requirements and objectives
- Make reasonable enquiries about your current financial situation
- Take reasonable steps to verify the information you provide
If, at the time of assessment, there's evidence suggesting you're unable to afford the repayments, that the credit will cause substantial hardship, or that it won't meet your requirements or objectives, the credit will be deemed unsuitable.
We complete a preliminary assessment of your requirements and financial position, and are required to keep this assessment for 7 years. You may request a copy of it within that period — we're only required to provide a copy if we've given you credit assistance.
Our Fees
There's no cost to you for a quote or an initial application. Our fees for providing credit assistance are only payable if your loan proceeds to settlement.
We may charge an Origination Fee of up to $2,500 (incl. GST), or up to 10% of the Net Amount Financed (NAF), depending on your loan. This is a one-off fee, payable at loan settlement — either directly by you, or included in your loan disbursement, in which case your loan amount will increase by the fee amount.
Before you proceed with any application, we'll give you a specific, written quote confirming the exact fees that apply to your circumstances.
Indicative Lender Fees
We source credit products from a range of banks, lenders, and other credit providers. The table below shows indicative fees for some of the lenders we introduce the most business to. Some lenders may also charge a risk fee, which can range from 1–10% of the asset price.
| Lender | App Fee | Monthly Fee | PPSR |
|---|---|---|---|
| Plenti | $499 | $9.90 | $6.80 |
| Pepper | $449 | $8.90 | $8.00 |
| RACV | $550 | $0.00 | $0.00 |
| Firstmac | $400 | $8.00 | $0.00 |
| AFS | $495 | $15.00 | $17.60 |
| Liberty | $495 | $7.70 | $8.00 |
If You Have a Complaint
Internal Dispute Resolution
Within our business we follow specific procedures to try to resolve any complaints you may have. If you have a complaint, please contact our office via email at admin@affinityaf.com.au. We'll try to resolve all concerns quickly and fairly.
External Dispute Resolution
In the unlikely event we can't resolve your complaint to your satisfaction, or you haven't received a response from us after 45 days, you can escalate your complaint to the Australian Financial Complaints Authority (AFCA), a free and independent dispute resolution service.
Free call: 1800 931 678 · afca.org.au
Affinity Asset Finance's AFCA membership number is 106229.
Privacy & Credit Reporting
Affinity Asset Finance Pty Ltd ("we", "us", "our") collects information about you for the purposes set out below. By engaging our services, or providing us with your information, you agree we can — consistently with Australia's privacy and credit reporting laws — collect, use, and exchange credit and personal information about you for those purposes.
What We Collect, and Why
We collect credit and personal information about you, as applicable, to source for you (or a company of which you're a director):
- Consumer credit for personal, household, domestic, or residential investment purposes
- Commercial credit for business purposes
- Other services stated in this policy
- Support for a guarantor application you provide
As your broker, we require this information to assess your credit or guarantor application (or that of a company of which you're a director), source a suitable credit provider and any required insurances, and manage the application process. If you don't provide the information sought, we may be unable to process your application, or may be limited in the other services we can offer.
Collection & Credit Reporting Body (CRB) Disclosures
When we collect information from you during the credit application process, we use it in a number of ways to assess your application and source a suitable credit provider, lessor, or insurance provider. We may:
- Disclose your identification information to a CRB if you wish us to obtain a report on your behalf
- Use any information a CRB provides in that report to assist us in preliminarily assessing your consumer credit or guarantor application
- Disclose your personal information to an insurer or insurers to source any insurances you wish to obtain
- Disclose your credit information to a credit provider to apply for finance on your behalf
Information we obtain from you is used only for the purposes listed in this policy, subject to compliance with Australia's privacy and credit reporting laws, and is not disclosed to any other person except with your permission or as permitted or required by law.
Credit Providers
As part of providing our services, we may undertake tasks for a credit provider that are reasonably necessary to manage your application. When we do, we're acting as agent for the credit provider, with the same privacy law requirements applying to both of us.
We may submit your application to one or more of the credit providers below. A credit provider we submit your application to may disclose information about you to, and collect information about you from, one or more CRBs. Each credit provider's website contains details of the CRBs it deals with and describes your key rights — often under headings like "notifiable matters," "privacy policy," or "credit reporting policy."
Your Rights
You have the right to ask:
- Us to provide you with all the information we hold about you
- Us to correct the information we hold if it's incorrect
- Us for copies of our privacy policy and related documents, in a form that suits you (e.g. hardcopy or email)
- The CRB not to use your information for direct marketing assessment purposes, including pre-screening
- The CRB to provide you with a copy of the information it holds about you
You can access the information we hold about you by contacting our Privacy Officer at admin@affinityaf.com.au. In some cases, an administration fee may apply to cover the cost of providing the information.
How We Use Your Information
When you engage our services, or apply for credit through us, you agree we may use your personal and credit information to:
- Assess your consumer or commercial credit and/or guarantee application, and/or assess a credit application by a company of which you're a director
- Source any finance you require
- Source any insurance you require
As the law authorises or requires, we may also:
- Disclose to, and obtain from, any prospective credit provider or insurer, information about you that's reasonably necessary to obtain the finance and insurances required
- Obtain from, and disclose to, any third party information about you, the applicant(s), or guarantor(s) that's reasonably necessary to assist you in obtaining the finance and insurances required
- Provide your information, including your credit report(s), to one or more of the credit providers listed above so they can assess your application, or your suitability as a guarantor
- Provide credit information about you to a guarantor or prospective guarantor
- Provide you, or a company of which you're a director, with offers or information about other goods or services we or our associated entities may provide, unless you tell us not to
- Disclose your personal and credit information, to the extent permitted by law, to organisations that provide us with services — such as contractors, agents, printers, mail houses, lawyers, document custodians, securitisers, or computer systems providers — so they can perform those services for us
- Disclose your personal information to any organisation that may wish to acquire, or has acquired, an interest in our business or any rights under your contract with us
Where the applicant or guarantor is a company of which you're a director, this also extends to the use of your information alongside the company's information, in each of the ways listed above.
Authorisation to Obtain Credit Reports
By engaging our services, you authorise us to make a request on your behalf to obtain credit reporting information about your consumer and commercial creditworthiness from a CRB. This information assists us in providing our services to you. This authorisation ceases when we undertake a task on behalf of a credit provider.
You also agree and consent, as appropriate, to:
- A CRB disclosing consumer credit information to one or more credit providers listed above, for the purpose of assessing your credit or guarantor application (or that of a company of which you're a director)
- A credit provider using that information to assess your suitability as a guarantor, when you're a prospective guarantor
- A credit provider disclosing your credit information (including information it obtained from a CRB) to a guarantor or prospective guarantor
- A credit provider disclosing to another credit provider, for a particular purpose, information it holds about you
Contacting Our Privacy Officer
If you have any questions about this policy, or wish to access or correct information we hold about you, you can contact our Privacy Officer:
Affinity Asset Finance Pty Ltd
Email: admin@affinityaf.com.au