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Credit Contracts and Consumer Finance Act 2003

Consumer credit contracts - Application

16A: Mobile trader credit sales treated as consumer credit contract

You could also call this:

"Buying from a mobile trader and paying later is like getting a loan and has the same rules"

Illustration for Credit Contracts and Consumer Finance Act 2003

You buy goods from a mobile trader and pay for them later, it is like a loan. The mobile trader is like a lender and you are like a borrower. The law that applies to loans also applies to this kind of sale. When you buy from a mobile trader and pay later, the law treats it like a normal loan. The mobile trader is treated as the lender and you are treated as the borrower. This law overrides section 15 if they conflict. You are protected by the law when you buy goods from a mobile trader and pay for them later. The law applies to these sales in the same way it applies to loans. This means you have the same rights as you would with a normal loan.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS352884.

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Topics:
Money and consumer rights > Consumer protection
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Part 2Consumer credit contracts
Application

16AMobile trader credit sales treated as consumer credit contract

  1. For the purposes of this Act, a credit sale under which a mobile trader supplies consumer goods to a natural person is to be treated as a credit contract and a consumer credit contract.

  2. If subsection (1) applies,—

  3. the mobile trader under the credit sale is to be treated as a creditor; and
    1. the person to whom the goods are supplied is to be treated as a debtor; and
      1. this Act applies with all other necessary modifications as if the credit sale were a credit contract and a consumer credit contract.

        1. This section prevails over section 15.

        Notes
        • Section 16A: inserted, on , by section 15 of the Credit Contracts Legislation Amendment Act 2019 (2019 No 81).