12 Jul 2013

Car dealer fined for breaching acts

3:00 pm on 12 July 2013

An Auckland car dealer has been fined $22,000 and ordered to pay reparation for selling unnecessary warranties and charging higher interest rates than those agreed.

The Commerce Commission said Warwick Taylor has admitted four breaches of the Fair Trading Act and three breaches of the Credit Contracts and Consumer Finance Act.

In one case, he charged a customer more than 60% interest on a loan.

The commission said Taylor sold more than 200 low-value motor vehicles as an unregistered trader between 2009 and 2011 and targeted consumers with poor credit histories.

In the Auckland District Court on Thursday, he was fined $22,000 and ordered to pay $2000 in reparation.