What are my obligations regarding Vehicle Insurance?
During the term of the agreement we require that the vehicle is fully comprehensively insured. You can finance this Insurance if you wish and include the premiums in your standard payments. This can take the worry out of insuring your vehicle and allows for one easy monthly payment.
If I lease a vehicle, what happens at the end of the leasing period?
Under the terms of a Lease Agreement you are effectively renting the vehicle from GE Money Auto for the duration of the agreement with no obligation or right to purchase the vehicle at the end of the term. Prior to the commencement of the agreement a 'Residual Value' is determined, largely based on the length of the rental period and the type of vehicle required. At the end of the Lease you may do one of three things:
- Make an offer to GE Money to purchase the vehicle
- In some circumstances negotiate a re-leasing of the vehicle for a further term or;
- Return the vehicle to GE (note you will be liable for any shortfall between the residual value of the vehicle and the net proceeds from the sale).
Full details of the fees and charges applicable to a GE Money Motor Loan are outlined in the Terms & Conditions document you will receive prior to signing your contract. If you have questions ahead of applying, please contact GE Money on 1300 137 759.
What happens if I can't make a payment?
The first thing to do is contact GE Money Auto and explain the situation to us. You will need to talk to one of our Customer Solutions Consultants. They'll be able to advise what can be done to assist you.
Depending upon the circumstances, we may be able to reschedule your payments or even re-write the contract over a different period of time. The main thing is to contact us promptly to ensure that your credit rating remains unchanged.