El Cheapo Cars pleads guilty to seven Commerce Commission charges

The Commerce Commission opened its investigation into El Cheapo in October 2021. (Image: File)

Wed, 10 Jul 2024

El Cheapo Cars has pleaded guilty to seven charges laid against its financing wing Ezybid Finance by the Commerce Commission.The commission (ComCom) alleged the Wellington-based car dealership and finance lender left borrowers in the dark about the terms of their loans.The case will be seen by the district court and is ComCom’s third action in the car finance sector this year.ComCom’s acting general manager of credit Sarah Bartlett said El Cheapo breached its variation disclosure obligations under the Credit Contracts and Consumer F...

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