Personal Vehicle Loan

Establishment Fee

$375.00

The cost to set-up your approved loan with PowerTorque Finance. It is payable upon loan settlement, and can be included within the amount financed. This is referred to in your contract as your Loan Account Establishment Fee.

Vehicle Security Registration Fee

$6.00

The cost of registering PowerTorque Finance’s security interest in your vehicle on the Australian Government’s Personal Property Securities Register.

This is a national online register to help protect consumers when buying personal property like cars, boats or artwork. It allows potential buyers to check if any other parties already have a security interest on the property.

Account Administration Fee

$6.00 per month

A monthly fee for the management of your loan account.

Dealer Agency Fee

$890.00 + GST

This fee covers the dealership’s cost of preparing your finance application on PowerTorque Finance’s behalf. The PowerTorque Finance & Insurance Manager within the dealership is responsible for explaining the different types of finance products to you, ensuring that you understand the requirements of the loan, and arranging all the necessary paperwork to submit, manage and finalise your finance application.

Payment Method Fee – BPay

$1.50

Processing each payment made by BPay.

Set up a Direct Debit at the start of your loan, so you don’t pay fees on your regular repayments.

To switch to Direct Debit payments log into your PowerTorque Finance Online account or call our National Customer Solution Centre on 137 800 (Monday to Friday, 8:30am – 6:00pm AEST)

Payment Method Fee – Other (includes BillPay, Cheque or Direct Deposit)

$3.00

Processing each payment made by BillPay, Cheque, or Direct Deposit.

Account Payment Card Fee

$5.00

For replacement; supplementary; or new payment cards when you switch from Direct Debit to another payment method after the loan start date.

Switch to Direct Debit payments and all your future repayments will be fee-free. You can change your payment method by logging onto PowerTorque Finance Online or calling our National Customer Solution Centre on 137 800 (Monday to Friday, 8:30am – 6:00pm AEST)

Payment Dishonour Fee

$3.25

If your Direct Debit or Cheque payment is dishonoured.

Check that your account has sufficient funds when payments are due to be debited. You can also change the date of your payments by calling the National Customer Solution Centre on 137 800 (Monday to Friday, 8:30am – 6:00pm AEST)

Late Payment Fee

$25.00

If you’re late or miss a repayment, and your account goes into arrears.

PowerTorque Finance will contact you about the overdue amount, and this is mentioned in your loan contract as an Arrears Follow-up Fee.

Ensure that your account does not go into arrears. You can also change the date of your payments by calling the National Customer Solution Centre on 137 800 (Monday to Friday, 8:30am – 6:00pm AEST)

Information Request Fee

$25.00

If you request contract documentation by calling the PowerTorque Finance National Customer Solutions Centre.

You can view, download, and print your loan documentation online without incurring this fee.

Simply log onto PowerTorque Finance Online to check your account details.

Early Termination Fee

$750.00

x

No. of whole months until the end of your loan term ÷ months in original loan term contract

If your loan is repaid before its scheduled end date.

Continue with your scheduled loan repayments until the agreed completion date to avoid this charge.