Credit Guide

About this credit guide

This Credit Guide is given to you by Australian Car Finance Company P/L trading as Novvi ABN 88 169 551 802 Australian Credit License 467206.

(Credit Licensee: ACFC) of Suite 2, Level 4, 424 St Kilda Road, Melbourne, VIC, 3004 (the “Licensee” or “ACFC”) and is designed to assist you to decide whether to engage us to provide credit assistance in relation to credit contracts

As a licensed credit assistance provider, we are required to give you a Credit Guide as soon as practicable after it becomes apparent to us that we may provide assistance to you in relation to a credit contract.

The guide includes information about us, our responsible lending obligations, the names of the credit providers with whom we conduct most of our business with, our fees, charges, and any commissions we may receive, and our dispute resolution process.

Our obligations before providing credit to you

Under the National Consumer Credit Protection Act (NCCP), we cannot provide credit assistance to you by:

  • suggesting that you apply for a particular credit contract with a particular credit provider;
  • suggesting that you apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
  • assisting you to do so, if the contract will be unsuitable for you.

The contract will be unsuitable for you if, at the time the contract is entered into or the credit limit is increased, it is likely that:

  • you will be unable to comply with your financial obligations under the contract, or could only comply with substantial hardship; or
  • the contract will not meet your requirements or objectives.

We must make a preliminary assessment whether the contract will be unsuitable for you before we can provide credit assistance to you. To help us to make this assessment we will:

  • make inquiries about your financial situation and requirements and objectives that we believe are relevant to the credit you are applying for; and
  • take reasonable steps to verify your financial information – for instance by asking for evidence of your income; and
  • use this information to determine whether the credit contract is unsuitable for you.

You can request a copy of our preliminary assessment. We must give you a copy (at no charge to you):

  • within 15 business days, if your request is made within 2 years of our credit assistance quote; and otherwise within 25 business days of your request.

We do not need to give you a copy of the preliminary assessment if we did not provide credit assistance to you or your request is made more than 7 years after we provided credit assistance to you.

Our fees and charges

Consumers will be liable to pay the following fees and charges to us for our credit assistance or matters associated with providing credit assistance. The Origination fee represents the fee payable to provide credit assistance to you. This fee could be up to and including $880 inc. GST subject to the maximum origination fee allowable under the credit contract, only if you proceed with a credit contract.

Credit providers with whom we conduct business

We conduct business with credit providers when providing credit assistance in relation to credit contracts. Our credit provider panel includes, but is not limited to:

ANZ 85 Spring Street, Melbourne, VIC, 3000

Macquarie Leasing Level 8, 432 St Kilda Road, Melbourne, VIC, 3004

Alphera Financial Services 783 Springvale Road, Mulgrave VIC, 3170

Pepper Group Level 3, 707 Collins Street, Melbourne, VIC, 3008

Liberty Financial 16/535 Bourke St, Melbourne, VIC, 3141

MONEY3 Corporation Limited – Level 1, Graduate Rd, Bundoora, VIC 3083

Affordable Car Loans – PO BOX 1451, Southport, QLD 4215

For a full list of credit partners please email us at ello@ACFC.com.au

Insurance providers with whom we conduct business

We conduct business with insurance providers when providing credit assistance in relation to credit contracts. The names of the insurance providers with whom we conduct business are noted below:

AVEA Insurance Po Box 226, Nunawading, VIC, 3131

Allianz Insurance 360 Elizabeth St, Melbourne, VIC, 3000

LFI Group L16 535 Burke St, Melbourne, VIC, 3000

Commissions

When you enter into a credit contract, we are likely to receive a commission, directly or indirectly, from the credit provider in relation to the credit contract for which we have provided credit assistance. We have also entered into a volume bonus arrangement with each of the credit providers with whom we conduct business, either directly or indirectly, and may receive additional commissions depending on the total volume of business that we arrange with each of the credit providers.

You may obtain additional information from us about the fees and charges payable by you, the commission likely to be received by us or the volume bonus arrangements in place, on request. This includes obtaining information about how fees and charges payable by you are worked out and a reasonable estimate of the commissions likely to be received by us and how the commission is worked out.

Payments to third parties

A commission is likely to be paid to a third party for the introduction of credit business or business proposed to be financed by the credit contract or consumer lease if credit assistance is provided through one of the following classes of persons:

  • Licensed Finance Broker;
  • Credit Representative of ours or;
  • Referrer

You may obtain from us a reasonable estimate of the amount of commission and how it is worked out on request.

How we resolve disputes

We pride ourselves on our service and welcome every opportunity to resolve any concerns you may have with our products or service. If you have a complaint, are not happy with our service or just want more information, you should tell us. By telling us, you give us the best possible opportunity of fixing things. In the first instance, contact our Customer Service Team by calling us on 13 66 88. If you are not satisfied with their response you can request that their manager addresses your concern.

Internal dispute resolution

If your concern is still not resolved to your satisfaction please write to our Internal Dispute Resolution Committee at Novvi, PO Box 21297 Little Lonsdale St, VIC, 8011. Your concern will be reviewed by our IDR Committee, which has authority to deal with the matter. We will inform you of the outcome within 45 days of receiving your dispute or complaint.

External dispute resolution

If your concern still remains unresolved to your satisfaction you can direct your issue for further review to the Financial Ombudsman Service (FOS), an external review scheme to which we belong. You can use our member number when referencing us, which is 35317.

External dispute resolution is a free service established to provide you with an independent mechanism to resolve your specific complaints. However, you must attempt to resolve your complaint with us before contacting our external dispute resolution scheme.

Financial Ombudsman Service

Member Number: 35317

You can lodge your dispute in writing to Financial Ombudsman Service, GPO Box 3, Melbourne, VIC, 3001 or online here.

How to contact us

Call us on 13 NOVVI

Write to us at PO Box 21297 Little Lonsdale St, VIC, 8011

Email us hello@novvi.com.au