Compare Before You Sign – Terms and Conditions

Promoter

This Promotion is conducted by B.K Brokers Pty Ltd (ABN 40 669 144 218) trading as loan-o (loan-o, we, us or our). loan-o is a finance broker, not a lender.

Definitions

Acceptance Notice

means written confirmation from loan-o that an application has been accepted into the voucher-backed part of the Promotion.

Better Overall Finance Outcome

means the meaning given in clause 12.

Business Day

means a day other than a Saturday, Sunday or public holiday in Brisbane, Queensland.

Complete Information Pack

means the information and documents described in clause 8 that loan-o reasonably requires to conduct the review.

Direct Major Bank Offer

means a finance offer issued to the customer following a direct application to a Major Bank, rather than an application introduced through loan-o or another finance broker, dealer or intermediary.

Eligible Voucher

means the voucher described in clause 15.

Major Bank

means Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank Limited or Australia and New Zealand Banking Group Limited, including any successor or related body corporate of those entities.

Promotion

means the Compare Before You Sign Promotion governed by these Terms and Conditions.

Qualifying Offer

means a written finance offer that satisfies clause 8.

Review Period

means the four Business Day period described in clause 9.

How the Promotion Works

1. An eligible customer may submit a Qualifying Offer for a pre-signing review.
2. loan-o will first assess whether the application is eligible and whether a Better Overall Finance Outcome appears reasonably achievable through finance solutions available to loan-o.
3. If loan-o accepts the application into the voucher-backed part of the Promotion, it will issue an Acceptance Notice and undertake the comparison described in these Terms and Conditions.
4. If loan-o reasonably determines that the existing offer is already competitive or appropriate, or that a Better Overall Finance Outcome is unlikely to be achievable, it may decline to issue an Acceptance Notice. In that case, no voucher is payable.
5. If loan-o issues an Acceptance Notice but, after taking reasonable steps, does not present a Better Overall Finance Outcome within the Review Period, the customer may be entitled to an Eligible Voucher under clause 13.

Participation in the Promotion is free. Fees and charges may apply if the customer later chooses to proceed with finance, but any customer-paid brokerage fee will be disclosed and agreed separately before an application is lodged.

Promotion Period and Changes

1. The Promotion begins on the start date advertised by loan-o and continues until withdrawn.
2. loan-o may amend, suspend or withdraw the Promotion prospectively. Any application already accepted by an Acceptance Notice will remain governed by the terms applying when that notice was issued, unless a change is required by law or is more favourable to the customer.
3. loan-o may run different versions of the Promotion for different eligible products, customer groups or channels, provided the applicable voucher value and material conditions are disclosed before the customer submits an application.

Eligibility

To participate, the customer must:

1. if an individual, be at least 18 years old and an Australian resident;
2. if a business, be registered or operating in Australia and act through a representative who is at least 18 years old and authorised to act for the business;
3. be seeking eligible non-mortgage finance;
4. submit the Qualifying Offer before it is accepted, signed or settled;
5. genuinely consider proceeding through loan-o if a Better Overall Finance Outcome is presented;
6. provide the Complete Information Pack and any authority or consent reasonably required for the review;
7. provide complete, accurate and current information; and
8. comply with these Terms and Conditions.

Eligible Finance

Unless the applicable promotional material states otherwise, the Promotion may apply to:

• consumer motor vehicle finance;
• commercial vehicle, truck and trailer finance;
• caravan finance;
• equipment and machinery finance;
• chattel mortgage and other commercial asset finance;
• personal loans;
• business loans and business lines of credit; and
• other non-mortgage finance accepted by loan-o.

For clarity, a chattel mortgage over an eligible vehicle, equipment or other asset is not treated as property mortgage lending for the purpose of this Promotion.

Excluded Finance and Direct Major Bank Offers

The Promotion does not apply to:

1. residential home loans, residential investment property loans, reverse mortgages or other property mortgage lending;
2. finance that has already been accepted, signed or settled;
3. refinances that have already settled;
4. an enquiry or application already being managed or previously assessed by loan-o for the same transaction;
5. internal lender repricing, product transfers or variations that do not involve a genuinely new finance offer;
6. private lending arrangements or informal verbal quotations;
7. offers that cannot be independently verified to loan-o's reasonable satisfaction;
8. Direct Major Bank Offers; or
9. any lender, product or category clearly excluded in the applicable promotional material before the customer submits the application.

loan-o may, at its discretion, review a Direct Major Bank Offer outside the voucher-backed Promotion to help the customer understand whether the offer appears competitive and appropriate. That review does not entitle the customer to an Eligible Voucher.

Qualifying Offer and Complete Information Pack

1. A Qualifying Offer must be genuine, current, in writing and contain enough information to permit a meaningful comparison. It may include a formal approval, conditional approval, pre-approval, finance quotation, pricing schedule, lender proposal, approval letter or unsigned draft finance contract.
2. The Complete Information Pack may include the Qualifying Offer, borrower and guarantor details, finance purpose and amount, proposed term, repayment frequency, fees and charges, balloon or residual amount, security details, identification, privacy authority and any financial information reasonably required for the relevant finance type.
3. loan-o will confirm when it considers the Complete Information Pack received. The customer must promptly provide any further information reasonably required to verify the offer or conduct a fair comparison.
4. The customer must not provide another person's personal information unless the customer is authorised to do so and has provided any notice or obtained any consent required by law.

Review Period

1. The Review Period begins on the first Business Day after loan-o confirms receipt of the Complete Information Pack and continues for four Business Days.
2. If loan-o requests further information reasonably required because information is incomplete, inconsistent or has materially changed, the Review Period is paused from the time of the request until the information is received.
3. An Acceptance Notice does not restart the Review Period unless loan-o and the customer expressly agree otherwise in writing.
4. The Review Period may be extended only with the customer's agreement. If no extension is agreed and the conditions in clause 13 are satisfied, voucher eligibility will be assessed at the end of the Review Period.

Preliminary Assessment and Acceptance

1. During the preliminary assessment, loan-o will consider the Qualifying Offer, the customer's stated requirements and objectives, the information provided and the finance solutions reasonably available through loan-o.
2. loan-o may issue an Acceptance Notice only where it reasonably believes that a Better Overall Finance Outcome should be achievable.
3. loan-o may decline an application where it reasonably believes that:
   • the existing offer is already competitive or appropriate;
   • a Better Overall Finance Outcome is unlikely to be achievable;
   • the application or finance falls within an excluded category;
   • the customer is unlikely to satisfy available lender criteria;
   • the information is insufficient or cannot be verified; or
   • acceptance would create legal, regulatory, fraud, privacy or material operational risk.
4. No voucher entitlement arises unless loan-o has issued an Acceptance Notice.

Comparison Method

1. loan-o will compare the existing offer against finance solutions reasonably available through its lender panel and other approved finance channels. loan-o does not represent that it has access to every lender or product in the market.
2. The comparison will be made on reasonably comparable assumptions where practicable, including the customer, finance amount, purpose, asset or security, term, repayment frequency, balloon or residual amount and other material conditions.
3. loan-o may consider:
   • interest rate and comparison rate, where applicable;
   • regular repayments and total borrowing cost;
   • fees and charges;
   • loan term and repayment frequency;
   • balloon or residual amount;
   • security and guarantee requirements;
   • approval conditions and lender suitability;
   • flexibility, early repayment and other product features;
   • cash-flow, ownership and taxation structure for genuine business-purpose finance, without providing taxation advice; and
   • other factors reasonably relevant to the customer's stated circumstances.
4. A lower regular repayment does not necessarily mean a lower total cost. loan-o will disclose material differences and trade-offs where the alternative has a longer term, higher balloon, additional security, higher total cost or another potentially adverse feature.

Eligible Voucher Entitlement

A customer is entitled to an Eligible Voucher only where all of the following apply:

1. the customer satisfies the eligibility requirements and provides a Qualifying Offer and Complete Information Pack;
2. loan-o issues an Acceptance Notice;
3. at the time of acceptance, loan-o reasonably believes a Better Overall Finance Outcome should be achievable;
4. loan-o takes reasonable steps to obtain and present that outcome;
5. loan-o does not present a Better Overall Finance Outcome within the Review Period or any extension agreed with the customer; and
6. the customer has complied with these Terms and Conditions and none of the exclusions in clause 14 applies.

When No Voucher Is Payable

A voucher is not payable where:

1. loan-o does not issue an Acceptance Notice;
2. loan-o reasonably determines that the existing offer is already competitive or appropriate, or that no Better Overall Finance Outcome is reasonably achievable;
3. the finance or offer is excluded under clause 7, including a Direct Major Bank Offer;
4. loan-o presents a Better Overall Finance Outcome within the Review Period, whether or not the customer chooses to proceed with it;
5. the customer withdraws, accepts or signs the existing offer, or otherwise prevents the comparison from being completed;
6. the customer does not provide requested information or authority within five Business Days;
7. the information supplied is incomplete, inaccurate, misleading, altered or cannot reasonably be verified;
8. the customer's circumstances, requested finance, asset, purpose or material terms change after the Acceptance Notice, and that change prevents a Better Overall Finance Outcome being presented;
9. the submission is a duplicate, relates to substantially the same borrower, guarantor, asset or transaction as another submission, or is otherwise an abuse of the Promotion; or
10. loan-o cannot lawfully continue the review or doing so would breach a licence condition, regulatory obligation or compliance requirement.

Voucher Conditions

1. Unless the applicable promotional material states otherwise, the Eligible Voucher is an AUD $50 fuel, grocery or similar third-party eGift card selected by loan-o.
2. The voucher will generally be issued electronically within 20 Business Days after loan-o confirms eligibility.
3. The voucher is not transferable, exchangeable or redeemable for cash.
4. Only one voucher may be issued per customer per financial year and one voucher per finance transaction.
5. loan-o may substitute a voucher of equal or greater value if the advertised voucher is unavailable.
6. The voucher is subject to the issuing provider's terms, expiry date, redemption conditions and availability. loan-o is not responsible for loss caused by the customer providing incorrect delivery details, disclosing the voucher code or failing to redeem the voucher before expiry.

Existing Customers and Multiple Applications

1. The Promotion does not apply where loan-o is already managing or has previously completed a review of the same finance transaction.
2. loan-o may treat submissions involving substantially the same customer, guarantor, asset, finance purpose or transaction as one application.
3. A different email address, phone number, business name or intermediary does not create a separate entitlement where the underlying customer or transaction is substantially the same.

Customer Responsibilities

The customer must:

1. cooperate reasonably with the review;
2. provide requested information promptly and respond within five Business Days;
3. provide truthful, accurate and current information and genuine documents;
4. promptly tell loan-o if the existing offer changes, expires, is accepted or is withdrawn, or if the customer's circumstances materially change;
5. not submit altered, fabricated or misleading documents; and
6. not use the Promotion primarily to obtain pricing for negotiation elsewhere without a genuine willingness to consider finance through loan-o.

Fraud and Promotion Abuse

loan-o may refuse, suspend or cancel participation where it reasonably suspects fraud, false or altered documentation, duplicate or automated submissions, collusion, multiple identities, commercial misuse, voucher harvesting or other conduct inconsistent with the genuine purpose of the Promotion. This does not limit any other rights loan-o may have.

No Obligation to Proceed

1. The customer is not required to proceed with finance arranged by loan-o.
2. loan-o is not required to recommend or arrange finance where it reasonably considers the existing offer appropriate, the alternative unsuitable, approval unlikely, or proceeding inconsistent with applicable legal or regulatory obligations.
3. If the customer chooses to proceed, the finance application and any credit assistance will be governed by loan-o's usual disclosures, consents, credit guide, credit quote and other applicable documents.

Broker Role and Finance Approval

1. loan-o is a finance broker and does not make lender approval decisions or provide the credit.
2. loan-o does not guarantee approval, settlement, lender acceptance, an interest rate, repayment amount, saving, product availability or any particular outcome.
3. All finance is subject to the relevant lender's assessment, criteria, terms, conditions, fees and charges.
4. Any alternative presented during the review may remain subject to verification, valuation, credit assessment, lender approval and final documentation.

Privacy and Information Handling

1. loan-o collects and uses information provided for the purposes of assessing eligibility, conducting the comparison, providing credit assistance where requested, administering the Promotion, managing complaints and complying with legal, regulatory, licence, aggregator and recordkeeping obligations.
2. loan-o does not collect identifiable competing finance offers for unrelated market intelligence, competitor pricing databases or marketing purposes.
3. Where authorised and reasonably necessary, loan-o may verify information with the issuing lender or broker and disclose information to prospective lenders, service providers, compliance advisers, regulators or other recipients described in loan-o's Privacy Policy and applicable consent documents.
4. Documents and assessment records will be retained, secured, destroyed or de-identified in accordance with loan-o's Privacy Policy and applicable legal, regulatory and contractual retention requirements.
5. Participation in the Promotion does not by itself provide consent to receive unrelated direct marketing. Any marketing consent must be obtained separately where required.

The current Privacy Policy is available at loan-o.com.au/privacy.

Electronic Communications

By participating, the customer consents to loan-o communicating electronically about the application, Review Period, requests for information, outcome and voucher administration using the contact details supplied. The customer must ensure those details remain current.

Complaints

1. A customer who has a concern about the Promotion may contact loan-o at [email protected] or 1300 156 266. loan-o will handle the concern under its applicable internal dispute resolution process.
2. Where the concern relates to credit assistance and is eligible for external dispute resolution, the customer may be able to refer the complaint to the Australian Financial Complaints Authority after first giving loan-o an opportunity to respond.

Current complaint information is set out in loan-o's Credit Guide and Privacy Policy.

Liability

1. To the extent permitted by law, loan-o is not liable for indirect or consequential loss arising from the customer's decision to accept, reject or delay a finance offer, or from acts or decisions of a lender or other third party outside loan-o's control.
2. Clause 24(a) does not remove an Eligible Voucher entitlement that has arisen under clause 13 and does not exclude liability that cannot lawfully be excluded or limited.
3. The customer remains responsible for deciding whether to proceed with a finance offer and should obtain independent legal, taxation or accounting advice where appropriate.

Australian Consumer Law

Nothing in these Terms and Conditions excludes, restricts or modifies any consumer guarantee, statutory right or other protection that cannot lawfully be excluded under the Competition and Consumer Act 2010 (Cth), the Australian Consumer Law or any other applicable law.

General

1. If a provision of these Terms and Conditions is invalid or unenforceable, it is to be read down to the extent necessary or, if it cannot be read down, severed without affecting the remaining provisions.
2. These Terms and Conditions are governed by the laws of Queensland, Australia, subject to any non-excludable rights the customer has under the laws applying where the customer resides or carries on business.
3. A reference to writing includes email, SMS and communication through an approved loan-o portal or system.