Topic: Motor vehicle loan

Dealer does not satisfy the lender’s responsible lending obligations.

Alice doesn’t understand why, after two years, she has not made any progress repaying her loan

Amani and Akeem said that their car loans were unaffordable because the lender had not accounted for their weekly $300 cash withdrawals that were put towards Amani’s parents’ mortgage.

Dean complained that the lender did not properly assess the affordability of his loan. But what was a fair outcome when there was no evidence of any hardship?

When Jason and Maggie could not afford their loan repayments they surrendered their car to be sold, reducing their debt from $30,000 to $24,000.

Jade’s adult sons’ board payments were included in her income assessment when she applied for a car loan. Should the lender have also included her sons’ food expenses in her affordability assessment?

Mikaere repeatedly defaulted on his weekly car loan repayments. Had the lender underestimated his weekly expenses?

Heremoana paid $45,000 for a car that his financial mentor said was realistically worth $33,000 raising a concern that if it was repossessed and sold Heremoana would be left with a considerable residual debt

Samantha complained that the repayments for her car loan were unaffordable. In response, the lender made an offer to put things right.

Hu took out a car loan and later lost his job due to COVID-19. Hu told his lender he couldn’t afford his loan repayments, and he also complained that the interest rate was too high and the loan was unaffordable from the start – was it?