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Car Finance

A car loan online offers quick approval for up to $120,000 at an affordable low interest rate starting from 8.95% and a flexible repayment term of up to 5 years – driving the car you want has never been easier.

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Easy Car Finance – No Deposit Car Loan NZ

Your ideal solution to researching and comparing various vehicle loan options from New Zealand’s top car finance providers - All it takes is one simple online application form!

Browse, click and apply in just minutes.

Frequently Asked Questions

Get approved for car finance in NZ

The purchase of a car in New Zealand can be a hassle-free process if you are well-prepared for the task.

You need to find a car that matches your needs and the legal requirements for driving in the country. You need to work towards securing the best price and obtaining the most affordable car finance. If you intend to finance the purchase with a loan, you should use this guide to get the best deal.

The key to success is advanced planning. If you do everything necessary to obtain an affordable auto loan and you get approved before you go shopping, you will have peace of mind and a much higher chance of getting a favourable deal on the car. You can save time and money too.

How to improve your credit score

The better your credit record is the highest your chances of approval and lower interest rate will be. You need to request your credit report and go over it carefully. If you identify any errors, you should immediately request to have them fixed. You should also try to deal with past delinquencies which are fixable. If you have several missed payments you should cover them before you apply for a car loan.

Determine how much you can spend on a car

For starters, you should calculate how much money you are prepared to pay for a new car. You should take into account your monthly income and spending. You should have a budget in mind before you go shopping for a car. You should also determine the size of the deposit which you will pay out of your pocket based on your current savings and future spending plans.

Then you need to calculate how much you can afford to pay to the lender every month. This will enable you to determine how much you can afford to borrow.

Be aware of the dangers of dealer finance

You should try to eliminate the emotional element which is quite often present in car purchases. If you fall madly in love with a car that is well over your budget, the dealer may try to offer a vehicle loan that appears to be perfectly affordable, but can actually cost you quite a lot more money. Dealers use various tricks for this purpose.

Often, they extend the term of the loan to make the monthly payments smaller. However, the longer-term results in more monthly interest payments and this will make the loan considerably more expensive.

Plan ahead before applying for a car loan

Since cars are assets that tend to lose their value at a considerable pace, you should plan for the future when taking out an auto loan in addition to considering the current situation. You need to decide carefully on the deposit size, the loan value, and the term of the auto or personal loan. This will help you to get the best deal.

You may feel more comfortable with placing a smaller deposit now, but this may be a costly mistake. This is because the larger loan amount will lead to higher interest payments and make the total cost of the loan higher. As the value of the vehicle depreciates at a high rate, you may end up owing more on your vehicle than it is actually worth.

How do I use a car loan calculator online?

To find out precisely how much interest you will pay and what portion of the principal you will repay every month, you should use a car loan calculator or a similar tool such as a spreadsheet. The numbers will show you how quickly you will gain equity in your car. Use the calculations and analysis which you make to avoid an upside-down auto loan.

These are loans that enable you to gain equity in the vehicle at a slower rate than the rate of depreciation of the vehicle. Put the other way round, the car loses value more quickly than the outstanding balance on the loan decreases.

Can car insurance lower the interest rate on a loan?

You may be able to get a lower interest rate on an auto loan in New Zealand if you have life or disability insurance. When setting the interest rate for a particular borrower, the lender will evaluate the risk of non-payment associated with death and disability. When you are covered for such events, the risk for the lender will be lower. Hence, you can get a lower interest rate. It is important to note that even though having car insurance is helpful, it is not mandatory.

How to apply for a vehicle loan?

It may be easier to obtain an auto loan from a dealer, but it pays off to check the offers of other car lenders such as banks, credit unions, and even peer-to-peer lending platforms. The more offers you compare the more likely you are to find the ideal one for you. You should compare loans based on interest rates, fees, monthly instalments, and total loan cost.

With comparison shopping, you will get a pretty clear picture of the current auto loan market situation. Use this knowledge as a bargaining tool for getting the best deal.

Flexible car loan repayments

When you take out a vehicle loan with a flexible repayment structure, you will have the opportunity to pay it off more quickly and save money. With such a structure, you should be able to make additional payments without being penalised.

Make sure that you will not have to pay a penalty fee for early repayment either. You should ensure that you fully understand the terms and conditions regarding repayment as in some cases the charges are not explained in a straightforward fashion.

Car loan calculator

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The interest rate of a loan will vary based on your credit score and risk profile.
This car loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

List of direct lenders offering Car finance

  1. Finance Now Car loan

    Finance Now

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 12.95%
  2. MTF Car loan

    MTF

    • Loans up to $100,000
    • Term up to 48 months
    • Interest from 12.95%
  3. UDC Car loan

    UDC

    • Loans up to $500,000
    • Term up to 5 years
    • Interest from 8.95%
  4. NZCU Baywide Car loan

    NZCU Baywide

    • Loans up to $500,000
    • Term up to 36 months
    • Interest from 9.95%
  5. Oxford Finance Car loan

    Oxford Finance

    • Loans up to $100,000
    • Term up to 60 months
    • Interest from 12.95%
  6. First Credit Union Car loan

    First Credit Un...

    • Loans up to $10,000
    • Term up to 5 years
    • Interest from 9.95%
  7. ANZ Car Loan Car loan

    ANZ Car Loan

    • Loans up to $40,000
    • Term up to 5 years
    • Interest from 13.90%
  8. The Lending People Car loan

    The Lending Peo...

    • Loans up to $200,000
    • Term up to 7 years
    • Interest from 6.95%
  9. Turners Car loan

    Turners

    • Loans up to $100,000
    • Term up to 48 months
    • Interest from 14.95%
  10. Aqua Cars Car loan

    Aqua Cars

    • Loans up to $20,000
    • Term up to 5 years
  11. MARAC Car loan

    MARAC

    • Loans up to $20,000
    • Term up to 5 years
    • Interest from 8.95%
  12. Car Loans NZ Car loan

    Car Loans NZ

    • Loans up to $80,000
    • Term up to 5 years
    • Interest from 11.95%
  13. Kiwi Car Loans Car loan

    Kiwi Car Loans

    • Fast response
    • Term up to 7 years
    • Interest from 6.95%
  14. Max Loans Car loan

    Max Loans

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 13.95%
  15. Kiwibank Car loan

    Kiwibank

    • Loans up to $10,000
    • Term up to 7 years
    • Interest from 16.95%
  16. Pronto Finance Car loan

    Pronto Finance

    • Loans up to $20,000
    • Apply in 9minutes
    • Interest up to 11.97%
  17. Pioneer Finance Car loan

    Pioneer Finance

    • Loans up to $100,000
    • Term up to 7 years
    • Interest from 14.99%
  18. Credit One Car loan

    Credit One

    • Loans up to $1,000,000
    • Term up to 5 years
    • Interest from 7%
  19. Westpac Car loan

    Westpac

    • Loans up to $50,000
    • Term up to 5 years
    • Interest from 13.95%
  20. Enterprise Motor Group Car loan

    Enterprise Moto...

    • Affordable Car Finance
    • Quick Online Application
    • Term up to 6 years
  21. NZVF Car loan

    NZVF

    • Loans up to $80,000
    • Term up to 5 years
    • Interest from 11.95%
  22. interest.co.nz Car loan

    interest.co.nz

    • Loans up to $2,000,000
    • Term up to 30 years
    • Interest from 0.5%
  23. Discount Finance Car loan

    Discount Financ...

    • Loans up to $20,000
    • Term up to 4 years
    • Interest from 13.95%
  24. Sprint Finance Car loan

    Sprint Finance

    • Loans up to $50,000
    • Term up to 7 years
    • Interest from 7.95%