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Credit Guide

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Credit Assistance Provider

Melbourne Finance Broking Pty Ltd (MFB) “as Licensee”
A.C.N. 065 069 570 Australian Credit Licensee (ACL) Number 387036
of 1 Elgin Place, Hawthorn Vic 3122 (we, us, your)
Tel: (03) 9429 3000   Email: info@melbournefinance.com.au

Corporate Credit Representative (CCR) & Credit Representative (CR)
(CCR Name) Auto Car Finance Pty Ltd (CCR No) #416155
(CR Name) Meiyun Guo (CR No) #475221

Our Authorised Credit Representative has been appointed by us to provide credit assistance services on our behalf.

About this Credit Guide:

This Credit Guide sets out important information to help you decide whether to accept our assistance in obtaining a credit contract or consumer lease.

This Credit Guide will tell you:

We are required to provide this Credit Guide to you as soon as practicable after it becomes apparent we are likely to provide credit assistance to you.

We provide “Credit Assistance” when we:
  1. Suggest or assist you to apply for a particular credit contract with a particular credit provider; or
  2. Suggest or assist you to apply for an increase to the credit limit of a particular credit contract with a particular credit provider; or
  3. Suggest you remain in a particular credit contract with a particular credit provider.
Engagement and Conditions:

You (the customer) engage us (the broker) to arrange a loan on your behalf. You acknowledge that we act as an independent contractor to assist you to obtain and negotiate a loan, and that we have advised you to obtain your own independent legal and financial advice regarding the suitability of any loan.

Fees Payable by You:

We sometimes charge a fee for our services. More details about any fees payable will be detailed in a “Quote” we will give you before a finance application is lodged. No commission is payable by you to us, this is paid by the credit provider.

How we and our Authorised Credit Representative are paid:

We are paid commissions by Credit Providers for introducing customers. The Credit Providers we deal with will usually pay a commission based on:

We only receive a commission if your loan is settled and is paid to us either directly by the lender, or paid to us by our aggregator. We may receive the following commissions after we provide credit assistance and your loan has settled.

Type of Commission:
Commission/Brokerage. (Paid shortly after settlement) Range from 0% to 10% depending on type of finance sought.
Volume Bonus Range 0% to 2.5% depending on aggregate of volume introduced to a Credit Provider over a monthly period. The amount of this additional commission cannot be determined at the time of loan settlement.
Method of Calculation: Based on Net amount financed plus GST

If you would like a detailed estimate of how much commission we would be paid by a particular credit provider, we will provide this to you.

Referrers and Referral fees:

In some cases, your business may have been referred to us by non- regulated third parties such as accountants, financial planners, motor resellers etc. Where this is the case, we may pay a referral fee to these parties. If we do pay a fee to these parties, then

Alternatively, if you want to know, you can ask about the fees and we will tell you how much was paid and how it was worked out.

Preliminary Assessment:
What we will need from you:

When we provide you with credit assistance, we must only recommend credit products that are not unsuitable for you. To be able to determine which loan products are not unsuitable, we are required to complete a Preliminary Assessment. When we make this preliminary assessment, we determine:

In assessing these factors, we are also required to take reasonable steps to verify some of the information you provide us.

This verification may include:
Obtaining a copy of your Preliminary Assessment:

If we haven’t already provided it to you, you may request a copy of our Preliminary Assessment, and we must give you a copy of it:

There is no charge for requesting or receiving a copy of the Preliminary Assessment.

Financial Hardship:

It is important to us that the new credit commitment remains affordable to you but understand those situations can change. In the event that you find yourself in financial difficulty we ask that you let us know so we can assist you in contacting the credit provider to discuss alternate options.

Our “Consumer” Credit Providers include:

We source credit products from a range of banks, lenders and other credit providers. However, at present, we write a greater percentage of loans with the following banks, lenders and other credit providers. These Lenders do not necessarily represent all the lenders who offer credit of the nature you seek.

Dispute Resolution and Complaints:

Within our business we follow specific procedures to try to resolve any complaints that you may have.

Internal Dispute Resolution:

If you have a complaint, please contact the disputes officer below. They will try to resolve all concerns quickly & fairly. Disputes officer at the below company:

Melbourne Finance Broking Pty Ltd, 1 Elgin Place, Hawthorn, Vic 3122. General Manager (03) 9429 3000 or info@melbournefinance.com.au

External Dispute Resolution:

In the unlikely event we cannot resolve your complaint in a satisfactory manner, or you have not received a response from us after 45 days, you can escalate you complaint to the below Ombudsman, a free and independent dispute resolution service provider.

Financial Ombudsman Service Limited (FOS):

Tel: 1300 780 808 or info@fos.org.au

A copy of FOS’s dispute resolution policy is available at www.fos.org.au or by request.

ACL’s Membership number with FOS is: 14925 

Our CCR’s Membership number with FOS is: 25258 

Further Information

For more information regarding anything referred to in the Credit Guide or anything else about our services, just ask at any time. We’re here to help you.