Standard Fees & Charges
The cost of borrowing table includes information about interest rates, fees and charges that apply when the asset is being acquired wholly or predominantly for personal, domestic or household purposes, or the credit being provided is to be used to acquire the asset for personal, domestic or household purposes (and not for business or investment purposes).
The consumer credit fees and charges may apply or become payable under the contract or during the life of the contract.
Credit Fees and Charges
Type |
Description |
Amount |
Application Fee (Motorcycle) |
The application fee is a loan establishment fee and charged when the loan is advanced/established. It can be included in the financed amount. | $325.00 |
Dealer/Broker Administration Fee |
Dealer/ Broker Administration fee is based on Net Amount Financed as follows: $1,500 - $2,999 |
$165 |
PPSR Fee |
We will charge you a PPSR Fee to register our security interest on PPSR. The Fee is charged on each individual asset |
$8.05 per asset (Approx.) |
Default Service Fee |
The Default Service Fee will be charged to each cheque payment or direct debt that is dishonoured. |
$25 |
Full Prepayment Charge |
If you pay the loan account outstanding balance in full before the schedule final payment due date (full prepayment) you will be required to pay a fee to compensate YMF for any loss resulting from the pre-payment. The full prepayment charge is calculated as follows: $300 *M divided by T + $50 admin fee Where: M= the number of month stil to run in the terms of the contract T= the term of the loan in months |
|
Recovery Costs and Enforcement Expenses |
If a default occurs and YMF takes steps to enforce the contract or a security under it, YMF will charge you for costs, liabilities and expenses it incurs in exercising and enforcing its rights and remedies, including the costs of repossession and associated with sale and legal costs, including on a solicitor/own client basis together with disbursements. |
All costs, liabilities and expenses after a default occurs. |
Annual Interest RatesThe annual interest rate is a fixed rate for the loan term on a standard form contract. YMF may consider a range of factors when it determines the actual interest rate which will apply to each loan, including: the net amount financed and term of the loan, the complexity of the loan, the age, type and condition of the asset being financed, the borrower's credit history, the borrower's asset position and the borrower's risk assessment rating as determined by YMF. Interest is calculated by multiplying the outstanding balance at the end of each day by a daily interest rate. The daily interest rate is calculated by dividing the Annual Interest Rate by 365 (or 366 in a leap year). Interest is then debited to the loan account on each Installment Payment Date. |
||
Asset Type |
Interest Rates (p.a) |
|
Motorcycles |
10.15% to 16.95% | |
Default Interest RatesYMF may charge default interest on any amount that is not paid by a borrower when it is due. |
||
|
|
Default Interest is a rate equal to the Annual Interest rate plus 3% per annum |
|
|
|
The default interest rate is charged (in addition to annual interest rate) on the arrears amount outstanding. The rate varies based on when a contract was initialised: | |
The above figures apply to consumer loan products that are provided by YMF NZ under the CCCFA. Interest rates, credit fees and charges are subject to change. All applications for credit are subject to approval of YMF NZ’s credit criteria. Finance is provided by Yamaha Motor Finance New Zealand Ltd NZBN 9429036270798 FSP9622.