Topic: Motor vehicle loan

When a person applying for a loan did not include their rent costs in a loan application the lender substituted a nominal $100 a week.

A car dealer encourages a borrower to lie about his rent expenses to qualify for a loan.

Insufficient buffer in lending decision contributes to difficulties in paying the loan.

Linda’s sister stopped making payments towards her car loan, so the lender asked Linda to pay.

Four weeks’ payment holiday for eight weeks’ additional payments.

The lender did not adequately verify income leading to an unaffordable loan.

Finn’s rent was mistakenly recorded in a lender’s affordability assessment, leaving the loan unaffordable.

Ben’s representative was concerned that the lender did not complete a satisfactory affordability assessment when Ben applied for a loan.

Mei’s lender did not fulfil their duty to sell Mei’s car for the best price reasonably obtainable.

Holly had difficulties in making loan payments from the outset. After the car was repossessed, she contacted a financial mentor, who complained to the lender that they had failed to carry out a proper affordability assessment when approving Holly’s loan.