Case Studies
Married Male
Aged 39 with no dependants, 1 year old KIA Cerato – $25k financed;
Veda score of 572; Annual income of $76,000. 1 x Telco default – Occurred after the customer moved address. Applicant was 3 years in his job and renting privately. The applicant maintained 16 months of perfect payment performance before trading in the vehicle and taking out replacement finance with a prime lender at a more competitive interest rate having repaired his credit rating through the loan with Right Road Finance.
Married Couple
Aged 28 & 30 with 4 dependants, 4-year old Toyota Kluger: $27k financed
Veda Scores of 640 & 590; Annual Income $100,000; Applicant 1 had no adverse credit; Applicant 2 had 1 x Telco default; Applicant 1 was a self employed contractor for 5 years; Applicant 2 worked casually as a cleaner but was new into her job; The applicant’s put $5k deposit towards the vehicle, had lived at their current address for 2 years and had capacity.
Single Male
Aged 64 with 0 dependants, 9-year old Ford Territory – $18k financed
Veda Score of 321; Annual Income $74,000; 1 x Utility default; Applicant was F/T employed for 1.5 yrs and has additional income through Superannuation; Applicant showed reasonable stability in both employment and residence, no more than 2 of each in the last 3 years, and has ample capacity.
Married Couple
Aged 37 & 35 with 2 dependants, 5-year old Ford Ranger – $38k financed
Veda Scores of 543 & 685; Annual Income $100,000; Applicant 1 had 1 x settled default ($276) from 2014. The applicant believed the account was settled not realising that the final instalment was outstanding; Applicant 2 had no adverse credit; Applicant 1 is a full time labourer for 13 years; Applicant 2 works casually as a shop assistant for 2 years. The customers had good capacity and required a larger vehicle for the family.
Married Male
Aged 38 with 0 dependants, New Kia Cerato – $25k financed
Veda Score of 572; Annual Income $76,000; Applicant had 1 x settled default ($1,177); The applicant believed the account was settled not realising that the final instalment was outstanding; Applicant is a full time salesman for 3 years with 3 years at his current residential address; The customer had healthy capacity using base pay only. Payslips and employer’s payroll department confirmed his salary was almost double that used in the calculation when including penalty rates and commissions.
Defacto Female
Aged 23 with 0 dependants , 4-year old Toyota Yaris – $13k financed
Veda Score of 490; Annual Income $38,000; Applicant had 1x telco settled default which the applicant was disputing; Applicant was a permanent part time shift supervisor for 2 years and boarding with parents; The customer had ample capacity.