Topic: Motor vehicle loan

Jacinta had recently moved out of a rental property and into her mother’s house when she took out a car loan. The lender assessed Jacinta’s ability to repay the loan which included the $50 Jacinta was paying in board. The lender didn’t ask Jacinta how long she’d be boarding for – did they need to?

Complaint that Rangi’s car loan was not affordable and that he did not understand add-on repayment waivers he had purchased.

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