Credit Contracts and Consumer Finance Act 2003

Repossession of consumer goods under consumer credit contract - Rules that apply after repossession of consumer goods

83ZD: Debtor’s right to introduce buyer

You could also call this:

"You can find a buyer for repossessed goods and sell them to that buyer."

Illustration for Credit Contracts and Consumer Finance Act 2003

You have the right to find a buyer for the goods that have been repossessed. You can do this at any time after the goods have been taken and before they are sold. The buyer you find must pay cash and the price must be at least the estimated value of the goods. You can exercise this right by giving the creditor a written notice signed by you or your agent. This notice tells the creditor that you have found a buyer who is willing to pay the required price. The creditor must then sell the goods to the buyer you have found. The Credit Contracts and Consumer Finance Act 2003 sets out the rules for this process. You should read this Act to understand your rights and responsibilities. The Act is available on the New Zealand legislation website.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6501395.

This page was last updated on 1 January 2026 — View changes

Topics:

Money and consumer rights > Consumer protectionMoney and consumer rights > Debt

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Part 3ARepossession of consumer goods under consumer credit contract
Rules that apply after repossession of consumer goods

83ZDDebtor’s right to introduce buyer

The debtor may, at any time after the creditor has repossessed the consumer goods and at any time before the creditor sells or agrees to sell the consumer goods in accordance with this subpart, require the creditor to sell the consumer goods to any person, introduced by the debtor, who or that is prepared to purchase the consumer goods for cash at a price not less than the estimated value of the consumer goods set out in the post-repossession notice served on the debtor.
This right may be exercised by giving to the creditor a notice in writing signed by the debtor or the debtor's agent.

Compare

1997 No 85 s 30

Notes

Section 83ZD: inserted, on 6 June 2015, by section 51 of the Credit Contracts and Consumer Finance Amendment Act 2014 (2014 No 33).