Fees

Interest Rates

Zak Finance Ltd provides loans with an annual interest rate from 25% to 49.5% per annum. The rate that applies to your loan will be based on a range of factors including your circumstances, credit history with us, the term of your loan, the security you can provide, and others. Once set, our interest rate is fixed for the term of your loan.

Loan Terms

Loan terms are normally over a maximum of 50 weeks

Establishment Fee

Establishment fee is $75 to $155

Credit Fees and Charges

The following credit fee(s) and charge(s) (which are not included in the initial unpaid balance) are, or may become, payable under, or in connection with the contract:
The costs, expenses and other liabilities listed in clause 8(iii) of the “other terms and conditions” incurred while you are not in default.

Default Fees And Charges

In the event of a breach of the contract or on the enforcement of the contract, the default fees specified below are payable:

• Visit fees are $1 until the actual date available
• Travel
• $1.20 per km as per the IRD current rate
• $106.25 per hour for travel out of town
• Phone $5
• Text $5
• Repossessions for time spent dealing with repossession issues, e.g., disposing of vehicle $106.25 per hour
• Any service/cost contracted out to a third party or incurred and charged via a third party will be charged to the client/lender
• Contract variation will be charged at $106.25 per hour

Motor Vehicle Register privacy statement

Zak Finance Ltd may access information from the Motor Vehicle Register through Motochek where required for authorised finance and secured lending purposes. This may include checking vehicle details and, where necessary, registered person information to verify vehicle ownership, assess a vehicle offered as security, or manage an existing security interest.

Zak Finance Ltd only accesses MVR information where there is a legitimate business purpose connected to a loan or proposed loan. Registered persons can contact NZ Transport Agency Waka Kotahi for information about opt-out options relating to the availability of their name and address from the Motor Vehicle Register.

For questions about Zak Finance Ltd's use of MVR information, contact Peter van Lokven, Director and Compliance Officer.