Young family charged $10,000 interest on a $29,000 car loan

March 9, 2022

A young couple in south Auckland were charged $10,000 interest on a $29,000 car loan, despite having no way of paying back the money, an advocacy group says. 

The vehicle finance lenders were made to wipe the interest charges after it was discovered they had not properly carried out an affordability assessment for the couple, who had three children. 

And in another recent case in South Auckland, a person earning less than the living wage ($22.75/hour) was charged $20,000 in interest on a $32,000 car loan. Again, the loan shark was forced to wipe the charges. 


More news

United against bullying

We’re wearing pink shirts to speak up, stand together and stop bullying. Pink Shirt Day aims to create schools, workplaces, communities and whānau where everyone
Read More »