Money3, the largest division and former name of the stock, is a...

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    Money3, the largest division and former name of the stock, is a sub prime auto lender for predominantly used vehicles. The interest charges are in the region of 25 to 30%, so the customer is charged accordingly for the "blind eye" to credit file blemishes, however they absolutely look at affordability closely. In fact, the company is currently being sued by ASIC for a few alleged transgressions of the credit act with regard to a handful of customers. Nevertheless,bad debts for this division are in the region of 5% per annum which is way higher than prime auto lending.
    Last edited by JoeGambler: 30/12/23
 
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