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PRIVACY AGREEMENT
BUDGET AUTO FINANCE
1599 Dandenong Road, Oakleigh 3166
Budget Auto Finance
ABN 97699037001 ACL 387073
Privacy Act Authorisation Agreement
This statement explains our Privacy Policy, the privacy rights of the applicant (“you”) and the rights and obligations of Budget Auto Finance(“we”) in relation to your personal information.
We recognise the importance of protecting the privacy of your personal information. Our Privacy Policy complies with the National Privacy Principles in the Commonwealth Privacy Act 1988 as well as any other applicable laws and codes affecting your personal and credit information.
Personal information is information or opinion that allows others to identify you. It includes your name, age, gender, contact details and financial information. We collect personal information to provide you with the products and services you request as well as information on other products and services offered by us. We only exchange personal information with external organisations that help us provide these products and services.
We require your consent to use your personal information for these purposes. Without this consent, we may not be able to process the application or provide you with an appropriate level of service.
By signing this acknowledgement, you authorise us to:
collect, maintain, use and disclose your personal information in accordance with our Privacy Policy;
act as your agent in seeking access to your consumer credit information file held by
a credit reporting agency for an application, or proposed application by you for
credit; or you having sought advice in relation to existing credit.
Privacy Policy
The information in this document details how we comply with the requirements of the Privacy Act in protecting your personal information.
Privacy Regulation
Privacy Act 1988
The Commonwealth Government has enacted privacy legislation to protect information held by all credit providers (not just banks) about their customers’ personal credit dealings. Since 1991, under Part IJIA of the Privacy Act, credit providers have only been allowed to disclose information about personal credit dealings to certain classes of persons (such as another bank or a credit union) for certain very limited purposes.
Privacy Amendment (Private Sector) Act 2000
In December 2000, the Commonwealth Government enacted further privacy legislation, which commenced 21 December 2001, amending the Privacy Act (implementing the National Privacy Principles) to include provisions that regulate the way private sector organisations collect, use, disclose, keep secure and provide access to personal information.
We protect your personal information in accordance with the National Privacy Principles.
Obtaining your consent
In most cases, before or at the time of utilising our service, we obtain your consent to the purposes for which we intend to use and disclose your personal information, if you do not give us consent, we may not be able to provide you with the products or services you want.
Disclosures
Depending on the product or service you require, we may obtain from, or exchange personal information with:
Exchanging information with a credit reporting agency
When you apply for credit, lenders need to be in a position to decide whether or not you are likely to repay. The decision will be based on your current financial position (including your other credit repayments) and on your credit history (whether in the past you have been a reliable payer). We will consider the information you give us when you fill out your application and may check that information with a credit reporting agency and with any other credit provider with whom you have had dealings.
Access to Consumer Credit Information (Section 18K (1)(b), privacy Act 1988
I / We agree that Budget Auto Finance may obtain a consumer credit report containing information about me from a credit reporting agency for the purpose of assessing my / our application for commercial credit.
Exchange of Credit Worthiness Information (Section 18N, Privacy Act 1988)
I / We agree that the credit provider may exchange information with those credit providers named in this application or named in a consumer credit report issued by a credit reporting agency for the following purposes:
To assess an application by me / us for credit
To notify other credit providers of a default by me / us
To exchange information with other credit providers as to the status of this loan where I am in default with other credit providers
To assess my / our credit worthiness
I / We understand that the information exchanged can include anything about my / our credit worthiness, credit standing, credit history, or credit capacity that credit providers are allowed to exchange under the Privacy Act.
Agreement to a credit provider being given a consumer credit report by a credit reporting agency to assess a guarantor (Section 18K 1( c ) Privacy Act 1988) I / We agree that Budget Auto Finance may obtain from a credit reporting agency a consumer credit report containing information about me / us for the purpose of assessing whether to accept me / us as a guarantor for credit applied for by, or provided to, the borrower (s) named in this agreement I / We agree that this agreement commences from the date of this agreement and continues until the credit covered by the borrower (s) application ceases.
Agreement to a credit provider disclosing a report including a consumer credit report to potential or existing guarantor (Section 18K (1) Privacy Act) I / We agree that the credit provider may give to a person who is currently a guarantor, or whom I / We indicated is considering becoming a guarantor, a credit report containing information about me / us for the purpose of the proposed guarantor, deciding whether to act as a guarantor, or to keep the existing guarantor, _____________________, informed about the guarantee. I / We understand that the information disclosed can include anything about my credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to disclose under the Privacy Act, and includes a credit report.
Access to Personal Information
You can request us to provide you with access to the personal information we hold about you. Only relevant information provided by you will be disclosed. Your identity must be confirmed before access is provided.
Applicants Authorisation
I / We understand that Budget Auto Finance are asking me for personal information about me so as to use Veda Advantage’s credit reporting service to credit check me. I / We understand that:
Applicant’s acknowledgement
I / We Acknowledge and consent to the aforementioned terms of the Budget Auto Finance Privacy Agreement
Applicant 1________________________________________________
Applicant 2________________________________________________
Date _____/_____/_____
GUARANTOR’ S ACKNOWLEDGEMENT
I / We agree that the Credit Provider may seek a credit report concerning me / us from a credit reporting agency to assess whether to accept me / us as a guarantor of the finance commitments for the above named applicant /s under (Section 18K(1)(c))
Guarantor ________________________________________________
Guarantor _________________________________________________
Date ____/______/_____
