MTF

Frequently asked questions

Why should I buy from an MTF dealer?

When you buy your vehicle from an MTF dealer, you are buying from the person who makes the lending decisions. Only MTF dealers are able to make a finance decision on the spot, allowing you to drive the vehicle of your choice away - TODAY.

There are over 650 MTF dealers spread throughout the country, so it's very likely there's one near you. Where is my nearest MTF dealer?

Why shouldn’t I use my home loan to finance my vehicle?

Although home loan interest rates are typically lower than personal loan rates, in most cases the interest cost will be much greater. This is because the lending term is longer, so the interest is paid over a longer period of time than for a personal loan.

Unless you are extremely disciplined, you may find that adding your vehicle to your home loan increases your cost of borrowing, because your term is likely to be extended. Also, by retaining equity in your property, you retain the flexibility to respond to investment opportunities or to cover emergency expenditure, such as health care, as they occur, without having to sell assets or go through the costly process of increasing your home loan.

I've had an offer to wrap up my finance contract and my credit card debt in one loan.

Before you accept the offer, ask yourself the following questions:

• is my existing finance contract nearly paid off?
• is there an establishment fee on the new loan?
• is the interest rate offered higher than my current lowest rate?
• am I going to remain in debt for longer by switching?

If you answered 'yes' to one or more, you may end up paying more for the new loan. If you have any doubts, give us a call and we will check it out for you.

Should I lease or buy?

Each has its own pros and cons. Take a look at our buy, borrow or lease information to see what will suit you best.

What is payment waiver?

We cannot predict when or how we will be affected by redundancy, injury, illness or death. Your credit contract includes an optional payment waiver which ensures your repayment obligations are covered when you can’t meet them yourself (conditions apply).

How can I find my settlement figure?

You can obtain a settlement figure by contacting your dealer.

What consumer protection laws cover my finance contract and account with MTF?

To the extent they apply to a contract, Consumer Protection Laws are:

• the Credit Contracts and Consumer Finance Act 2003
• the Credit (Repossession) Act 1997
• the Motor Vehicle Sales Act 2003
• the Consumer Guarantees Act 1993
• the Fair Trading Act 1986
• the Privacy Act 1993
• the Personal Property Securities Act 1999
• the Financial Service Providers (Registration and Dispute Resolution) Act 2008
• the Financial Advisers Act 2008