products and services FAQs

 
 
 
  
 

FAQs - Products and Services FAQs

The following Questions and Answers are for your general information only and not intended to be legal or financial advice. For the purposes of choosing the appropriate financial product suitable to your needs, we suggest you consult your financial advisers regarding your specific circumstances and requirements, and consult your legal adviser regarding your rights and obligations under any proposed contract before signing it.

Can I pay my account weekly?
Yes, the only requirement is that the weekly payments made during the month must equal the contractual monthly instalment. The balance of the monthly instalment needs to be paid by the due date. Unfortunately, at this time, we are unable to offer you a direct system other than monthly. You may pay by cheque, etc at your local Westpac office or have your bank set up a periodical payment.

Can I make my payment by Credit Card?
No, Primus does not offer that payment option, you may pay by Direct Debit, Bank Authority, Coupon Slip or BPAY.

Is my interest charge reducible?
You can reduce the amount of interest payable if you are on a Uniform Consumer Credit Code contract. The amount of the rentals under a lease or hire purchase agreement are predetermined and you will not benefit from paying any rentals early. You do however, receive a rebate of interest if you finalise your account early.

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What is Primus' interest rate?
Primus has a number of financing and leasing options available. Your best option is to visit our nearest dealer and speak to the business manager there.

We are not a general financier. Our charter is to support the dealer network and their customers. As a result you will need to talk to your local dealer.

What happens if there is an accident and my car is written off?
We require for your protection and ours that your car is comprehensively insured at all times. In the event of an accident you should submit a claim to your insurer. Please note you must continue to pay normal monthly instalments pending determination of your claim.

If the car is not insured, we will take possession of the vehicle and sell it at public auction. You will continue to be liable for the difference between the net sales proceeds received from the vehicle and the current payout. You should contact us to discuss how your account should be paid out.

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How much can I borrow?
Subject to satisfying our normal credit criteria, we will advance up to the full amount of the motor vehicle being purchased, although in certain circumstances may require you to contribute some deposit in the case of a loan or a commercial hire purchase agreement. We recommend a deposit to help reduce interest charges and monthly installments. Primus Finance may also finance the cost of loan insurance and comprehensive motor vehicle insurance.

What financial information do I need to provide to Primus when applying for credit
Primus will require details of your income, your regular monthly commitments, three years history of employment and residency as well as a current driver's license.

Why do I have to Comprehensively Insure my car
To protect you, Primus and any other party involved in an accident. Should you write-off your car without insurance then you will still have a debt to repay. Effectively you will be paying for a vehicle you no longer have use of.

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My car has broken down again and I don't want to pay Primus because I am not satisfied with my vehicle!
You need to understand there is a difference between the vehicle problems and your obligations under your contract for finance. If you are unhappy with your vehicle then you should contact the dealership where you purchased it. The fact that you have a complaint with regard to the vehicle does not entitle you to cease making payments on your contract. Should you fail to make payments to Primus on the due date you will be in default and we may exercise our rights under the contract, including notifying Credit Advantage of the default. We would prefer you contact us in these circumstances, so we can fully understand your situation and recommend the most appropriate action.

How does GST affect my Lease contract
Any Lease contract written after 1/7/00 will attract a 10 % GST as will the Residual Value.

Will I pay GST on my loan repayments on my Consumer Loan
No, GST is not payable loans.

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When do I receive a Statement on my account
Statements are sent automatically once a year in July.

What is your BPAY code
Our BPAY code varies from state to state. Depending on the state you live in your code will be:

State BPAY Code
Vic 85845
Qld 85852
NSW 85837
WA 85878
SA 85860
Tas 85886

What Finance Products does Primus Offer
If you want to discuss in detail how Primus can assist you, we suggest you speak with your local Primus Dealer, alternatively this web site provides information on our products by clicking here

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How do I change my address or other details on my account.
There are a couple of options. You could contact our customer service centre, the phone number can be accessed by clicking here, alternatively you can email us by selecting the "contact us" option on the homepage.

Can I make lump sum payments and still draw direct debits?
Yes, the payment will be credited to your account and direct debits will still draw on your normal due dates. The net effect is that your account will be paid out earlier.

Does Primus provide finance for the purchase of other good and service, like renovations to my house.
No, Primus' business is financing new and used motor vehicles through our dedicated dealer network.

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