Terms & Conditions

Terms and Conditions

Unless otherwise stated, all content on this website is Copyright © 360 Finance Pty Ltd (“360 Finance”), All Rights Reserved.

Content (including words, images, calculators and any other information present on the site) may not be copied for re-use, transmission or distribution and may not be modified or posted to other websites without the express written permission of 360 Finance.

All information on this website is general in nature only and is not specifically based on your own objectives, financial situation or needs. Before entering into a contract for a financial product or service, you should consult your financial advisor to determine if this product is suitable for you. While we make every attempt to give you the best and most accurate possible product information, 360 Finance Pty Ltd, its agents, employees and accredited lenders will accept no responsibility for any loss that may arise.

While 360 Finance has endeavoured to ensure that all information contained on this website are accurate at the time of publication, product features, specifications, prices and interest rates are subject to change without notice and 360 Finance makes no commitment as to the accuracy or availability of any product or service. The information on this website should always be read in conjunction with other materials and information available from 360 Finance.

To the extent permitted by law, 360 Finance excludes all express and implied warranties and all liability, whether direct, indirect, special or consequential, arising from negligence or otherwise relating to the use of this website whether in contract, tort including negligence, statute or otherwise.  Where, by law, 360 Finance is not permitted to exclude its liability but is permitted to limit its liability, its liability will be limited to the maximum extent possible under the law. Nothing in these terms and conditions should be taken to limit the operation of the statutory warranties implied under the Australian Consumer Law or related consumer protection laws.

360 Finance is not responsible for the contents of websites that are maintained by third parties and therefore waives its liability for any links from this website to other websites.

This website may contain content that is subject to the intellectual property rights of third parties.

360 Finance is permitted to revise these terms and conditions at any time, and by using this Website you are expected to review such terms on a regular basis to ensure you understand all terms and conditions governing use of this Website

Consent – Please Read

Our services are provided to adults over the age of eighteen (18) years. By accepting these terms and conditions, you acknowledge that you are over eighteen (18) years of age.

Information To Credit Agencies And Electronic Commercial Messages

Giving Information To A Credit Reporting Agency

I/We acknowledge that 360 Finance may give to a credit reporting agency personal information about me/us to obtain a consumer credit report about me/us, or to allow the credit reporting agency to create or maintain a credit information file about me/us. The information that may be given includes: my identification & that credit may have been applied for and the amount.

The Credit Provider Obtaining Credit Information

To enable the credit provider to assess my/our application for personal or commercial credit and to collect overdue payments relating to credit owed by me/us, I/we authorise the credit provider to obtain: from a credit reporting agency, a credit report containing personal or commercial information about me/us in relation to personal or commercial credit provided to me/us; and from a business which provides information about the commercial creditworthiness of person, information about my commercial activities or commercial creditworthiness.

Exchanging Information With Other Credit Providers

I/We agree that the credit provider may exchange information with other credit providers or lenders named either in this application or in a credit report issued by a credit reporting agency or from a business which provides information about the commercial creditworthiness of person which will be used to: assess my application for credit, assist me to meet or avoid default on my credit obligations and notify other credit providers of a default by me/us. I/We agree that you may disclose personal information to other credit providers at their request if you seek finance from them.

Exchanging Information With Other Parties

I/We authorise the credit provider to exchange with any other person including but not limited to other credit providers, funders, joint applicants or borrowers, employers, insurers, introducers, lenders, risk managers or service providers:

• Named in the application form or
• Named in a credit report issued by a credit reporting agency; or
• Who prepares or helps me/us to prepare this application; or
• Who is a broker, accountant, laywer, valuer, financial adviser or other person assisting me/us; or
• Who is a party providing insurance, protection or risk management products to the credit provider; or
• Who is a person arranging, funding or potentially purchasing my/our loan by means of securitisation

Information about my/our credit arrangements, including information about my/our creditworthiness, employment, credit standing, credit history, or credit capacity that the credit provider is allowed to exchange under the Privacy Act 1988.

I/We understand the information may be exchanged for the following purposes: to assess an application by me/us for credit and my/our ongoing creditworthiness; to inform other credit providers as to the status of this loan where I am/we are in default with other credit providers; to assist me/us in meeting or to avoid defaulting on my/our credit obligations; to advise on an outcome or status of my/our credit application or the transactions or status of my/our loan account; to prepare loan and related documentation and to properly execute such documentation; to refer this application to another credit provider for consideration; to assess whether to provide insurance to the credit provider or other credit provider; to evaluate whether to provider risk management products to the credit provider or other credit provider; to prepare access cards or mailing labels; and for direct or indirect marketing (unless you tell us otherwise), planning, product development, research, risk assessment, modelling and loan management purposes.

Comprehensive Car Insurance

I/We consent to be contacted by 360 Finance for the purposes of discussing comprehensive car insurance where comprehensive car insurance is a requirement of my/our application for finance.   I/We understand that there is no obligation to receive or proceed with a quote once provided and I/we understand that I/we can withdraw this consent at any time during the application process.

Electronic Commercial Messages

I/We understand that as part of their commitment to providing me/us with the best service, 360 Finance will from time to time send me/us electronic commercial messages. I/We understand that these messages will be clearly identified as originating from 360 Financial Pty Ltd and each communication will provide a clear unsubscribe facility. I/We understand that if I/we do not wish to receive these electronic commercial messages we will inform 360 Finance in writing or by emailing info@360finance.com.au.

Telephone Calls

I/we consent in advance to receiving phone calls on the number I/we entered on the 360 Finance website. These calls may be between 7am and 9pm on weekdays, and between 8am and 9pm on Saturdays.

“Refer a Friend” Program Consent

Where I/we have been referred to 360 Finance under the terms and conditions of the “Refer a Friend” program, I/we expressly authorise 360 Finance to share the outcome of my/our application to the third party that referred me/us in order for 360 Finance to meet their obligations under the “Refer a Friend” Program. I/We limit the information shared with the aforementioned third party to the outcome of my/our application only.

I/we understand that I/we may withdraw my/our consent in writing at any time until either the referred application for finance is determined by 360 Finance to be unsuccessful, or the loan settles.

Further Details

Further details about the privacy practices and principles of 360 Finance Pty Ltd are available in our Privacy Policy.

Custom Affiliate Link Terms

A ‘referring customer’ refers to any current 360 Finance Pty Ltd customer that has settled a loan through 360 Finance who then refers a ‘new customer’ using the ‘custom affiliate link’ during the program period.

A ‘referring applicant’ refers to any current 360 Finance Pty Ltd applicant who has not yet settled a loan through 360 Finance who then refers a ‘new customer’ using the ‘custom affiliate link’ during the program period.

The ‘referring customer’ or ‘referring applicant’ can refer multiple ‘new customers’.

The ‘custom affiliate link’ for the ‘referring customer’ comes in the form of a http://360f.in/YourCustomLink shortlink

$300 will be paid to the ‘referring customer’ for every ‘new customer’ that clicks on your ‘custom affiliate link’, leaves an enquiry via lead generating forms on the https://www.360finance.com.au domain and proceeds to settle a loan through 360 Finance Pty Ltd.

$100 will be paid to the ‘referring applicant’ for every ‘new customer’ that clicks on your ‘custom affiliate link’, leaves an enquiry via lead generating forms on the https://www.360finance.com.au domain and proceeds to settle a loan through 360 Finance Pty Ltd.

The ‘referring customer’ is eligible for $300 as a direct deposit to their bank account from 360 Finance Pty Ltd for every time they successfully refer a ‘new customer’ to 360 Finance.

The ‘referring applicant’ is eligible for $100 as a direct deposit to their bank account from 360 Finance Pty Ltd for every time they successfully refer a ‘new customer’ to 360 Finance.

Funds will be transferred to the nominated account of the ‘referring customer’ or ‘referring applicant’ within 30 business days of the loan settling for each referred ‘new customer’.

When the ‘custom affiliate link’ is clicked on, it expands out to the following link structure https://www.360finance.com.au/?utm_source=affiliate&utm_content=YourEmailAddress or https://www.360finance.com.au/?utm_source=affiliate&utm_content=YourCustomLink

The referral data stored in the ‘referring customer’s or ‘referring applicant’s custom affiliate link’ is stored within a COOKIE inside the web browser of the ‘new customer’ for 90 days after your ‘custom affiliate link’ is clicked on. During this time, the ‘new customer’ that clicked on your ‘custom affiliate link’ may clear their browser COOKIES and your data may become lost. 360 Finance Pty Ltd take no responsibility for guaranteeing that your ‘custom affiliate link’ data will be sent within the enquiry from any ‘new customer’.

The referral source is attributed to the first link clicked on that contains referral data. In some situations, your ‘custom affiliate link’ may be clicked on by a ‘new customer’ that has already clicked on an alternative referral source link. In these situations, the referral attribution is given to the initial referral source. 360 Finance Pty Ltd reserve the right to pay referral fees according to the initial referral source.

Your email address is used as your identifier to track referrals made by you meaning that your email address will be shared publicly when sharing your ‘custom affiliate link’.

Your link may be shared further than your initial share. 360 Finance cannot control and takes no responsibility for who your ‘custom affiliate link’ is shared with once you have shared it.

360 Finance Pty Ltd take no responsibility for protecting your email address from view when you choose to share your ‘custom affiliate link’ on social networks, emails and any other channel you choose to share your custom link on.

Target Market Determination (TMD)
Consumer Lease Product
360 Finance Pty Ltd
Effective Date: 7 October 2024

1. Introduction

This Target Market Determination (TMD) has been prepared by 360 Finance Pty Ltd in accordance with the obligations set out under Part 7.8A of the Corporations Act 2001 (DDO obligations), and in compliance with the National Consumer Credit Protection Act 2009 (NCCP Act). The purpose of this TMD is to provide clarity regarding the class of consumers for whom this consumer lease product is designed, the conditions and restrictions on its distribution, and the manner in which the product will be reviewed to ensure that it remains suitable for the intended target market.

2. Product Description

The Consumer Lease Product offered by 360 Finance Pty Ltd is a lease arrangement that enables a consumer to lease a motor vehicles for a specified period in return for periodic payments. Under this product, the consumer does not have ownership rights over the goods, unless a separate arrangement for purchase is entered into at the end of the lease term. Consumers may have the option to return the goods at the conclusion of the lease term, renew the lease, or negotiate a purchase.

This product is subject to the provisions of the National Credit Code, part of the NCCP Act, which governs consumer leases in Australia.

3. Target Market

This section outlines the class of consumers for whom this product is intended, based on likely financial objectives, needs, and situations.

3.1 Likely Objectives and Needs of Consumers in the Target Market

The Consumer Lease product is likely suitable for consumers who:

• Seek access to goods without immediate ownership, preferring flexibility over the option to purchase outright.
• Require the use of goods without the upfront capital required to buy the items.
• Prefer the ability to return, renew, or negotiate a purchase at the end of the lease term.
• Wish to spread the cost of use of goods over time in the form of periodic payments, rather than a lump-sum outlay.
• Are aware that they may pay more over time through the lease than they would if they purchased the goods upfront, but prioritize the flexibility provided by leasing.
• Have a stable financial situation that allows them to meet regular payments over the duration of the lease.

3.2 Financial Situation of the Target Market

Consumers suitable for this product are likely to have the following financial profile:

• Regular, stable income sufficient to meet the periodic lease payments, as well as any additional charges and fees under the lease.
• Capacity to make consistent payments over the life of the lease without experiencing undue financial hardship.
• Are not experiencing financial stress, or have the ability to meet all their existing financial obligations without taking on unsustainable debt.

3.3 Consumers Outside the Target Market

The product is unlikely to be suitable for consumers who:

• Seek immediate ownership of goods, as leasing does not provide ownership rights unless negotiated separately.
• Have the capital to purchase the goods outright, as leasing typically involves a higher total cost over time compared to purchasing.
• Are experiencing financial hardship or have irregular income, making regular lease payments difficult to sustain.
• Are unable or unwilling to commit to a contract where the goods must be returned, unless a separate agreement for purchase is entered into.
• Require a credit product that reduces total costs over time rather than provides flexibility in payment.

4. Key Attributes and Product Suitability

The Consumer Lease Product has the following key attributes, which align with the identified target market:

• Flexible use of goods: Consumers can use the goods for the duration of the lease without the obligation to purchase.
• Periodic payment structure: Consumers make fixed, regular payments over the term of the lease, providing structured, predictable expenses.
• Return, renew, or purchase options: At the end of the lease term, consumers may return the goods, extend the lease, or negotiate a purchase.
• No ownership rights during the lease term: Ownership is not automatically transferred at the end of the lease term.

These attributes make the product suitable for individuals seeking temporary access to goods without the need for ownership and with the flexibility to manage payments over time.

5. Distribution Conditions and Restrictions

5.1 Distribution Channels

The distribution of this product is subject to certain controls to ensure that it reaches the appropriate target market. The following distribution channels have been approved for this Consumer Lease Product:

• Direct sales through 360 Finance Pty Ltd either in-person at physical branches or through our online platform.
• Accredited motor vehicle dealerships, who have been appropriately trained and authorized to recommend this product to eligible consumers.
• Third-party platforms, where distributors have undergone training to understand the product’s key attributes and ensure it is only distributed to consumers within the target market.

5.2 Distribution Conditions

The following conditions and restrictions apply to the distribution of this product:

• Suitability assessments must be conducted to determine if the consumer meets the criteria outlined in the target market section.
• Distributors must ensure that the consumer fully understands the total cost of the lease, including the comparison between leasing and outright purchasing, and the implications of returning, renewing, or purchasing at the end of the lease.
• Consumers must be provided with all disclosure documentation in accordance with the National Credit Code, including information about fees, charges, and obligations under the lease agreement.

6. Review Triggers and Review Periods

To ensure the continued appropriateness of the Consumer Lease Product for the target market, this TMD will be reviewed under the following circumstances:

6.1 Review Triggers

• There is a material change to the terms of the product, including changes in pricing, fees, or the goods available under the lease.
• A significant number of consumer complaints or feedback indicate that the product may not be meeting the needs of the target market.
• A regulatory change affects the manner in which the product is distributed or offered, including updates to the National Credit Code or DDO obligations.
• There is a significant increase in defaults, hardship requests, or similar indicators that suggest the product may no longer be suitable for the intended target market.

6.2 Periodic Reviews

• The first review of this TMD will take place no later than 12 months from the effective date.
• Following the initial review, subsequent reviews will be conducted at least every 24 months, unless a review trigger occurs earlier.

7. Reporting and Monitoring

Distributors are required to report the following information to 360 Finance at quarterly intervals:

• The number and nature of consumer complaints received in relation to the product.
• Any significant dealings where the product has been issued to consumers outside of the target market.
• Sales data, including details of the volume of sales and any emerging patterns that suggest the product is not being distributed in line with the TMD.

Distributors must maintain records of the assessment and rationale for determining that the product is suitable for the consumer, including records of any inquiries made into the consumer’s financial situation.

8. Consumer Understanding and Disclosure

To ensure that consumers fully understand the product’s terms and attributes:

• Distributors must ensure that consumers are provided with all relevant information, including a summary of key product features, fees, and their obligations under the lease.
• Distributors must verify that consumers understand the potential implications of leasing, including the total cost over time and the options available to them at the conclusion of the lease.

9. Approval and Review

This Target Market Determination has been approved by the Board of Directors of 360 Finance Pty Ltd on 7 October 2024. It will be reviewed in accordance with the schedule outlined above.

Contact Information

360 Finance

• Customer Service: (07) 3336 3360
• Email: info@360finance.com.au
• Website: Australia’s Best Online Broker | Great Low Rates | 360 Finance