All of our charges will be easy to understand and clearly communicated to you. Our fees are listed in the tables below. We don’t charge any ongoing monthly account fees and we combine all the up front, third-party costs for credit checks and security registration into one simple establishment fee.
Standard Rates
from 7.95%* p.a.
Our rates range from 7.95% to 15.95% p.a. Your individual interest rate is predominantly based on your credit score. This is a number that provides a prediction of your credit worthiness, which is determined largely by your history of repaying your debts and bills on time and your current likelihood of being able to repay the loan that you are applying for. Credit bureaus collect and assess this information from lenders and other credit providers.
*Normal lending criteria, terms, conditions and fees apply
Standard rates and fees effective from 17 December 2020
You are likely to improve your credit rating by continuing to repay your loans and other payments on time. If you establish a good repayment track record with us, you are more likely get a low interest rate the next time that you borrow money from us.
AA Money is offering special interest rates for new and refinanced motor vehicle loans over $30,000 and ANY Hybrid or Electric Vehicle
The special interest rates are:
1. Rates from 5.95%* p.a. fixed for the term of the loan for loans $50,000 or above^
2. Rates from 6.95%* p.a. fixed for the term of the loan for loans between $30,000 - $49,999^ Or ANY Hybrid or Electric Vehicle**
**By discounting your interest rate for an Electric Vehicle or Hybrid loan, AA Money is in no way advising on your eligibility for the government’s Clean Car Discount Rebate Scheme. To find out if your vehicle qualifies, refer to the official information on the scheme here.
^loan values represent total amount financed (including Establishment Fee). Promotion applies to net new lending amount.
The special interest rates promotion is effective from 03 May 2021, is subject to change and may end at any time without notice.
If we have to charge you any of the following fees, we’ll add them to the principal balance of your loan. This means we’ll charge interest on these fees until you pay them.
Establishment and account fees
|
Fee |
Amount |
Description |
|
Establishment fee |
$240 AA Members receive a discounted Establishment fee of $180 |
This fee covers the cost of processing, assessing and approving your finance application. This includes our third-party costs of running credit and vehicle checks and searching and registering a security interest on the Personal Properties Securities Register. It will only be charged if your finance application is approved. |
|
Account fee |
$0 |
AA Money does not charge an Account Fee. |
| Fee & Amount | Description |
|
Establishment fee Non AA Member $240
AA Member $180 |
This fee covers the cost of processing, assessing and approving your finance application. This includes our third-party costs of running credit and vehicle checks and searching and registering a security interest on the Personal Properties Securities Register. It will only be charged if your finance application is approved. |
|
Account Fee $0 |
AA Money does not charge an Account Fee. |
Variation, refinancing and early settlement fees
|
Fee |
Amount |
Description |
|
Variation fee |
$0 |
AA Money does not charge a fee for any basic variations to your agreement. |
|
Refinancing fee |
$150 |
The refinancing fee may be charged if you need to refinance your loan with us. |
|
Full or partial prepayment fee |
$0 |
AA Money does not charge any additional fee if you decide to make a full or partial prepayment of your loan. |
| Fee & Amount | Description |
|
Variation fee $0 |
AA Money does not charge a fee for any basic variations to your agreement. |
|
Refinancing fee $150 |
The refinancing fee may be charged if you need to refinance your loan with us. |
|
Full or partial prepayment fee $0 |
AA Money does not charge any additional fee if you decide to make a full or partial prepayment of your loan. |
Default and collection fees
|
Fee |
Amount |
Description |
|
Default interest |
Your annual interest rate plus 5% |
We may charge you default interest on the amount in default. Default interest is calculated daily. |
|
Dishonoured payment fee |
This fee is the actual cost |
The dishonoured payment fee is the fee we charge you if your bank dishonours a payment you make to us, and we are charged by our bank. This dishonoured payment fee is whatever our bank charges us because of your dishonoured payment. |
| Fee & Amount | Description |
|
Default interest Your annual interest rate plus 5% |
We may charge you default interest on the amount in default. Default interest is calculated daily. |
|
Dishonoured payment fee This fee is the actual cost |
The dishonoured payment fee is the fee we charge you if your bank dishonours a payment you make to us, and we are charged by our bank. This dishonoured payment fee is whatever our bank charges us because of your dishonoured payment. |
Repossession costs
|
Fee |
Amount |
Description |
|
Repossession warning notice fee |
$10 |
We’ll charge you this fee if we have to send you a repossession warning notice. We usually do this 25 days after you have defaulted on this agreement. For example, if you did not make a payment, we would send you a repossession warning notice 25 days after you missed the payment. |
|
Repossession warrant issue fee |
$25 |
We’ll charge you this fee if we have to issue a warrant in order to engage an agent to repossess the vehicle. |
|
Recovery costs |
The fee is the actual cost |
We’ll charge you any reasonable costs charged by third parties relating to the enforcement of this agreement. For example, we may charge you the costs of the repossession agent, legal provider, or repairer. We can provide you with copies of the invoices if you request them from us. |
|
Repossessed vehicle sales fee |
The fee is the actual cost |
We’ll charge you this fee if we sell the vehicle. We’ll choose the method of sale to get the best price we can for the vehicle. |
| Fee & Amount | Description |
|
Repossession warning notice fee $10 |
We’ll charge you this fee if we have to send you a repossession warning notice. We usually do this 25 days after you have defaulted on this agreement. For example, if you did not make a payment, we would send you a repossession warning notice 25 days after you missed the payment. |
|
Repossession warrant issue fee $25 |
We’ll charge you this fee if we have to issue a warrant in order to engage an agent to repossess the vehicle. |
|
Recovery costs The fee is the actual cost |
We’ll charge you any reasonable costs charged by third parties relating to the enforcement of this agreement. For example, we may charge you the costs of the repossession agent, legal provider, or repairer. We can provide you with copies of the invoices if you request them from us. |
|
Repossessed vehicle sales fee The fee is the actual cost |
We’ll charge you this fee if we sell the vehicle. We’ll choose the method of sale to get the best price we can for the vehicle. |