El Cheapo Cars Limited t/a Ezybid Finance
The Commerce Commission filed seven charges under section 103 of the Credit Contracts and Consumer Finance Act 2003 against El Cheapo Cars Limited (t/a Ezybid Finance) for variation disclosure breaches between 6 June 2015 and 24 November 2021. On 20 May 2025 El Cheapo was fined $115,000 and ordered to pay affected borrowers $341,931.46 in statutory damages.
Case Details
Parties
El Cheapo Cars Limited t/a Ezybid Finance
Category
Consumer credit
Sub-category
Act/Section
Credit Contracts and Consumer Finance Act 2003 22(1), 103
Industry
Financial and insurance services
Status
Closed
Outcome
Judgment
Case Number
Date opened
03 May 2024
Date closed
20 May 2025
Contact person