In the Daily Financial Services News Wrap, Paige Estritori discusses key financial developments. She first addresses the unfortunate situation of Zone RV, a luxury caravan maker now in voluntary administration with an enormous $40 million debt, urging buyers to proceed with care and do thorough manufacturer stability research. The podcast then shifts to ASIC's recent review into the car finance sector, revealing pressing issues like high set-up fees, excessive loans and widespread defaults, also noting that a majority of repossessed car owners still owe significant sums. ASIC has also initiated another review, targeting the motor vehicle finance sector to enhance compliance and consumer protections. Finally, Bank Australia garners attention for its path towards environmental sustainability by ceasing to offer loans for new petrol, diesel, and hybrid vehicles starting February 2025, in line with its net-zero carbon emissions by 2035 goal.

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