It certainly was a lemon @Klogg. It was the one to sell. In...

It certainly was a lemon @Klogg. It was the one to sell.

In relation to doubtful car loans, the 30 days plus in arrears is 0.59%. Basically a ratio of 1 out of 170 loans are in a 30 day default. They have allocated $20,222 for impairment of debts. I would be surprised if Westpac’s own loan books are as good as that.

While the car loan interest rate went up, the house loan rate Westpac charges on their $250M facility went from 4.27% to 3.7% over the twelve months.

I see your point in relation to the non-Westpac $20M facility that has a current rate of 7.29%, nearly double that of Westpac. This facility must be used for the more risky customers, like me. I can only guess the customers must be paying an interest rate well over 7.29% to make it worthwhile for FSA.

All the loan facilities seem close to being maxed out at the moment. Might further explain why they hung onto the $10M in the short term.