UDC Finance

These fees are effective from 1 July 2017.

Credit Fees   
 Fee    Amount
Establishment fee  This fee covers the cost of processing, assessing and approving your finance application. It will only be charged if your finance application is approved.  $260.00
PPSR This is the cost to us of searching and registering a security interest on the Personal Property Security Register. $10.35
Maintenance fee  This fee will be charged to align with the frequency of your loan repayments and covers the cost of keeping your loan active.  $4.00 per month
 Dealer Fee  This fee covers the cost to the Dealer of preparing and processing your application for finance.  $240.00
Variation Fees  
Variation of contract  Charged when a variation, assignment or an unscheduled part prepayment is completed. This fee is payable at the time UDC consents to the variation, assignment or part pre-payment.  $500.00
Early settlement fee If you repay your loan in full before the final payment, then three different fees are charged:
  • A fixed fee to cover the cost of settling your loan.
  • A treasury break cost fee (this is based on a formula and depends on factors such as movement in wholesale interest rates and time remaining in the loan)
  • Early payment loss (30% of future interest charges)
 $500.00 + a variable amount
 Collections Fees  
Default interest charge  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 payment on the due date default interest is payable on the overdue amount from the due date until the date UDC receives full payment of that overdue amount.  5% p.a. plus the  annual interest rate stipulated in your contract
Dishonour fee  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.  $45.00
Late payment fee  Charged when a scheduled loan payment is not made on time and remains unpaid for seven days. The fee is payable and will be debited to your account at the time the relevant payment was due.  $45.00
Repossession action fee  Payable in the event UDC commences repossession of the asset(s) taken as security.  This fee will be debited to your account at the time repossession action is commenced.  $100.00
Post repossession fee  This fee is payable and will be debited to your account after realisation of the assets or abandonment of realisation.    $100.00