Just note while the security of a motor vehicle does not...

Just note while the security of a motor vehicle does not normally cover the debt compared to real property, the debt is still there, it just now becomes an unsecured salvaged debt.

After the motor vehicle is realised (whether it be by surrender of the vehicle or repossession), there will be a shortfall due to the fact that cars depreciate in value and real property appreciates in value. But note the debt is still there and indirectly becomes an unsecured personal loan and often known as the salvage debt and payment arrangement are worked out.

WZR should look at the front end and make sure lending is complaint to responsible lending and the Credit Code etc etc, the backend whether it be Collections, Debt Recovery and/or Repossession is VERY EASILY outsourced.

All you need to do is get an experience in-house lawyer who has worked in the automotive finance industry such as Mercedes FS, BMW FS, Toyota Finance etc and the set-up is quite easy.

WZR should focus on front-end of the business as the backend is quite easy to set up if you get an experience in-house lawyer who can look at the commercial, legal and reputations risk of the business.