Establishment Fee    $275

This covers the cost of processing, assessing and approving your finance application. It will only be charged if your finance application is approved.

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Dealer Referral Fee    $250

This covers the cost to the dealer for preparing and processing your application for the finance.

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Personal Property Security Registration Fee (PPSR)    $10.35

This is the cost to us for searching and registering a security interest on the Personal Property Security Register.

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Maintenance Fee    $7 per month

This will be charged to align with the frequency of your loan repayments and covers the cost of keeping your loan active.

Variation of Contract    $40

Charged when a variation, assignment or an unscheduled part prepayment is completed. This fee is payable at the time MPL Lending Ltd consents to the variation, assignment of part repayment.

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Early Settlement    $50

If you repay your loan in full before the scheduled final payment, this is a fixed fee to cover the administration costs for settling your loan. This is payable at the time the full prepayment is made.

Default Interest Charges    (5%p.a. + the annual interest rate)

Default interest is calculated at the rate of 5% per annum plus the annual interest rate referred to in your contract.  If you fail to make any payments on the due date default interest is payable on the overdue amount from the due date until the date MPL Lending Ltd receives full payment of that overdue amount.

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Dishonour fee    $15

Charged when a scheduled loan payment is dishonoured by your bank or when an automatic payment fails.  The fee is payable and will be debited to your account at the time the relevant payment was due.

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Repossession Warning Notice    $80

Charged when a default has occurred and not been remedied to the satisfaction of MPL Lending Ltd. The fee is payable and will be debited to your account at the time repossession action is commenced.

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Repossession Authority Fee    $80

Payable in the event MPL Lending Ltd commences repossession of the asset(s) taken as security. This fee will be debited to your account at the time repossession action is commenced.

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Post Repossession Notice Fee    $80

This fee is payable and will be debited to your account after realisation of the assets or abandonment of realisation.