Who is YOUx
Lodge IQ Finance Pty Limited
ABN: 59 6432 92700
1F Homebush Bay Drive,
Rhodes, NSW, 2138
We collect information about you for the purposes you agree to in this Privacy Disclosure Statement and Consent. When you accept the terms and conditions, you agree we can, consistent with Australia’s privacy and credit reporting laws, collect, use and exchange credit and personal information about you for those purposes.
Privacy Disclosure Statement and Consent
We are collecting credit and personal information (information) about you, as applicable: To source for you, or a company of which you are a director:
To support a guarantor application you will provide. We require the information we collect from you to assess your credit or guarantor application, or the credit application of a company of which you are a director, source a suitable credit provider and any required insurances, and to manage the application process, where required. If you do not provide the information sought we may be unable to process your application, or the company’s application, or we may be limited in the other services we can offer you or the company.
Your Information — Collection and Credit Reporting Body (CRB)
hen we collect information from you in the credit application process, we use that information in a number of ways to assess your credit application and to source a suitable credit provider or lessor and/ or insurance provider. We may:
The information we obtain from you is used, subject to compliance with Australia””s privacy and credit reporting laws, only for the purposes listed in this Consent and is not disclosed to any other person except with your permission or as permitted, or required, by law.
As part of providing our services to you, we may undertake tasks for a credit provider which is reasonably necessary to manage the application process. When doing so, we are acting as agent for the credit provider, with the same privacy law requirements applying to both of us.
We may submit your application to one or more credit providers. Those credit providers and their website addresses are set out in the Schedule 1 at the end of this document.
A credit provider, to whom we submit an application, may disclose information about you to, and collect information about you from, from one or more CRBs.
For each CRB the website details will include the following specific information:
This detail will also be included by the credit provider who approves your application in the privacy disclosure statement and consent document it will provide to you.
Each credit provider website includes information on how to contact the credit provider and how to obtain a copy of its privacy documents in a form that suits you (e.g. hardcopy or email).
You have the right to ask:
Schedule 2 at the end of this document sets out the contact details for each CRB service.
Disclosure and Consent
By accepting the terms and conditions, you agree we may:
You also agree and consent to, as appropriate:
Extended Effectiveness For Commercial Credit
Your agreement and consent to the disclosures and consents in this document will be effective for a period of 12 months, but only in relation to commercial credit. Your agreement to this ceases when you either withdraw it by contacting us using our details above or 12 months after you sign below, whichever first occurs. This will allow us to continue to provide our services to you without the need to ask you to sign a new privacy statement and consent each time you require commercial credit within a 12 month period. The extended effectiveness does not apply in relation to consumer credit.
Where the applicant, or guarantor, is a company of which you are a director, you consent to the use of your information, in addition to the company’s information, in each of the ways listed above.
Effectiveness For Consumer Credit
This authorisation ceases when we undertake a task on behalf of the credit provider.
By accepting the terms and conditions you also authorise us to make a request on your behalf to obtain credit reporting information about your consumer and commercial credit worthiness from a CRB. That information will assist us in providing our services to you.
Schedule 1 – Credit Providers
|A.C.N 161 130 696 Pty Ltd t/as Axsess Today
|Affordable Car Loans
|Australian Motor and Marine Finance
|Automotive Financial Services Pty Ltd
|BOQ Equipment Finance Limited
|Branded Financial Services
|Business and Capital Pty Ltd t/as Kikka Capital
|Capital Finance Australia Limited
|Commonwealth Bank of Australia
|Firstmac Asset Funding (Commercial) Pty Ltd
|Flexi Commercial Pty Ltd
|Flexirent Capital Pty Ltd
|Get Capital Pty Limited
|Greenlight Auto Finance
|Group & General Finance
|Grow Equipment Finance Pty Ltd
|Grow Finance Pty Ltd
|Latitude Financial Services Limited
|Liberty Financial Pty Ltd
|Lumi Financial Management Pty Limited
|Macquarie Leasing Pty Ltd
|Metro Finance Pty Ltd
|Morris Finance Ltd
|Moula Money Pty Ltd
|National Australia Bank Limited
|Nissan Financial Services
|Oneteam Capital Pty Ltd T/as Quest Finance Technologies
|Pepper Asset Finance Pty Ltd
|R.A.C.V. Finance Pty Ltd
|Ratesetter Australia Pty Ltd
|RedZed Lending Solutions Pty Ltd
|Resimac Asset Finance
|Scottish Pacific Business Finance Pty Ltd
|Southern Cross Credit Union
|Spotcap Australia Pty Ltd
|St George Finance Limited (BOM / Bank SA)
|TL Rentals Pty Ltd
|Thorn Equipment Finance Pty Ltd
|Thornmoney Pty Ltd
|United Loan Solutions Pty Ltd t/as Loan U
|Volkswagen Financial Services
|Westpac Banking Corporation
|Wingate Consumer Finance Pty Ltd t/as Now Finance
Schedule 2 – Credit Reporting Bodies (CRB)
Experian www.experian.com.au (03) 8622 1600
Illion https://www.illion.com.au 1300 734 806
Tasmanian Collection Service www.tascol.com.au (03) 6213 5555
Equifax www.equifax.com.au 1300 921 621
CREDIT GUIDE AND PRIVACY FORM
Credit Assistance Provider
Lodge IQ Finance Pty Limited
ABN: 59 643 292 700,
ACL: 530 545
Building F, Level 4, Suite 2, 1 Homebush Bay Drive, Rhodes, NSW, 2138
P: 1300 617 362
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:
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:
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 fee and we will tell you how much was paid and how it was worked out.
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
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.Refer to Schedule 1 – Credit Providers in the Privacy Document.
A complaint is defined in AS/NZS 10002:2014 and ratified by ASIC as “an expression of dissatisfaction made to or about an organisation, related to its products, services, staff, or the handling of a compliant, where a response or resolution is explicitly or implicitly expected or legally required.” To provide continued excellent customer service, we highly value customer-friendly and efficient complaint handling by all Representatives.
Our Internal Process
To ensure we continue to provide excellent customer services AND to comply with ASIC’s RG271: Internal Dispute Resolution, we have an internal dispute resolution process which must be followed by all staff and Authorised Credit Representatives. Our process, as per RG271, deals with potential complaints made by all ‘retail customers’ which as minimum is defined as consumers, primary producers and small business with less than 100 employees at time of act resulting in complaint. I.e. it is not only applicable to regulated credit assistance. All actions in dealing with complaints must be handled honesty, fairly and lawfully. We, as a business, approach complaints and the process of resolving them in a positive manner; seeing this as an opportunity to enhance our offering to customers. Any hostile, rude or dishonest approach to resolving complaints will not be tolerated. Our internal procedure is referred to in our Credit Guide and our documented internal process must be provided to any client who requests a copy.
All complaints must be handled in a customer-friendly manner and with an intent to resolve where possible. Any oral complaint not able to be resolved by the receiving team member must be referred to our Complaints Officer and/or Complaints Officer/Responsible Manager as soon as practically possible. The complainant’s name and contact details must be collected and passed on as part of this referral. If it is deemed inappropriate for the Complaints Officer/Complaints Officer/Responsible Manager to handle the complaint directly (i.e. conflict is with him or her and not likely to be efficiently resolved), then this process should instead apply to a nominated senior team member as a substitute.
All complaints must be handled in a customer-friendly manner and with an intent to resolve where possible. All written complaints must be referred to the Complaints Officer/Responsible Manager immediately. If it is deemed inappropriate for the Complaints Officer/Responsible Manager to handle the complaint directly (i.e. conflict is with him or her and not likely to be efficiently resolved), then this process should instead apply to a nominated senior team member as a substitute.
The Complaints Officer/Responsible Manager must act fairly and should offer compensation if deemed reasonable. Only s/he can offer compensation. All outcomes must be recorded in our Complaints Register.
Monitoring & Reporting
The Complaints Officer/Responsible Manager should review the Complaints Register from time-to-time and at least half-yearly. If common issues are occurring, address via training or updated processes. In the same interval, results of the review should be reported to Senior Management including Board Members where applicable. All personal information relating to complaints must be kept private and confidential. The Internal Dispute Resolution process should be reviewed annually as part of our ACL renewal process and updated if necessary.
All staff and authorised credit representatives must be made aware of this policy and applicable process. This training will be conducted as part of onboarding all new representatives and then as needed. Any staff/ACRs directly involved in the complaint handling process must have more detailed and regular training, including awareness of the regulatory requirements and knowledge of AFCA’s processes.
External Dispute Resolution
We are a member of AFCA, membership number 73147. The Complaints Officer/Responsible Manager is responsible for keeping the membership up-to-date and for any required liaison with AFCA and ASIC, including advice of any new Credit Representative details within 15 business days, any change in the details of or a revocation of the appointment of a Credit Representative within 10 business days (including when a Credit Representative changes their EDR scheme membership) and of any change to our External Dispute Resolution membership within 10 days of occurring (or within 3 business days if our membership ceases). If external legal assistance is required, this should be arranged by the Complaints Officer/Responsible Manager.
Authorised Credit Representatives
All Authorised Credit Representatives and their actions fall within the responsibility of us, the licensee. They must follow all aspects of this policy and our internal processes. Regardless, by regulatory requirements, they must arrange and maintain separate membership of an ASIC-approved External Dispute Resolution scheme. Details, including changes, must be advised to our Complaints Officer/Responsible Manager who will keep up-todate records in the Representative Register.
All ACLs must have a publicly available and readily accessible complaints policy. This policy must include:
The complaints policy and our membership of AFCA must be detailed in our Credit Guide and if applicable, on our website in an accessible location.
Drive On Finance Pty Limited details are:
Attention: Compliance and Complaints Handling Officer
Phone: 1300 031 264
Mail: Suite 4.02, 1F Homebush Bay Drive, Rhodes, NSW, 2138
We hope that you will be satisfied with how we deal with your complaint.However, if your concerns remain unresolved, or you have not heard from us within 30 days, then you can have your complaint heard by an independent party. The complaint can be lodged with the Australian Financial Complaints Authority(AFCA):
Phone: 1800 931 678 (freecall)
Mail: Australian Financial Complaints Authority, GPOBox3, Melbourne VIC 3001
Time limits may apply to complain to AFCA and so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.
his Credit Quote provides information about the fees and charges you agree to pay for our services as a finance broker. We are required to provide this Quote before we provide any credit assistance to you. We provide “credit assistance” when we:
Scope of Credit Services:
You have requested that we provide you with the credit assistance and other services described below. The maximum amounts that are payable by you to us in relation to these services are as follows:
All amounts are inclusive of the Goods and Services Tax (GST) where applicable. The maximum amount you may pay to us for our credit assistance and other services detailed is a once only fee.
Customer(s) Acceptance of this quote
By accepting the Terms and Conditions, you agree to the terms set out in this quote and to pay the fees as detailed above After agreeing, we will email you a copy to keep.