Car Loans
Car Loan Fees and Charges
At GE Money we're committed to educating our customers about what our fees and charges are on our car loans and how to avoid paying more than you need to.
The three important fees you should be aware of include; the once-off establishment fee ($295), loan service fee ($10 per month) and if you're lucky enough to pay off your loan early – an early termination fee (see the table below for details).
Almost all customers choose direct debit because it helps you avoid fees from missed or late payments. If you choose to pay through Australia Post or BPAY® you will incur a payment handling fee.
How can I avoid paying late fees?
- Paying by direct debit saves you time and the hassle of manual repayments, it also helps you to avoid fees from missed or late payments.
- Make sure you have sufficient funds in your account so all direct debits and other scheduled payments can be made.
- If your circumstances change which may affect your repayments, call us on 1300 973 422 to discuss your options.
- You can also make additional repayments so you pay off your loan sooner and save on interest‡.
| Loan Service Fee Charged monthly on all loans |
$10 |
| Establishment Fee A once only fee for establishing your account |
$295 |
| Early Termination Fee An Early Termination Fee is payable, upon you paying out this contract early. The amount of the fee is - a. $750 if the amount of credit exceeds $12000 or b. otherwise, 6.25% of the Amount of Credit, and this is calculated by taking the applicable amount (a) or (b) as stated above and multiplying it by the number of unexpired whole months in the term at the time this contract is paid out divided by the number of whole months in the term. |
|
| Payment Handling Fee Australia Post & BPAY® Charged for each payment made at Australia Post or by BPAY® |
$1.50 |
| Late Payment Fee This applies if you don't make the whole of the minimum payment by the due date |
$40*
|
BPAY and the BPAY logo are registered trademarks of BPAY Pty Limited 69 079 137 518.
‡Early termination fee may apply.
*Refer to your credit contract for all applicable fees and charges.
*Refer to your credit contract for all applicable fees and charges.