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Vehicle finance in New Zealand

Apply online for a quick initial decision, often within the hour during business hours, and we look after your loan from application to funding.

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The short answer

How does vehicle finance work in New Zealand?

Vehicle finance in New Zealand is a loan used to buy a car, ute, motorbike or other vehicle, repaid in regular instalments over an agreed term. With Finance Made Easy, you apply online and we aim to give you an initial decision quickly, often within an hour during business hours. Once approved, funding usually follows within 24 to 48 hours, subject to lender criteria.

Last updated

Vehicle types

Vehicle loans by type

Each guide covers how finance works for that vehicle and what lenders look at. Buying something else? Talk to us about it.

Whatever you drive

The same simple process for every vehicle loan.

Apply online

Start your application online when it suits you. Have your driver licence and income details handy. Prefer to talk? Call 0800 995 014.

A quick answer

We aim to give you an initial decision quickly, often within an hour during business hours. Once the loan is approved and verified, funding usually follows within 24 to 48 hours.

Numbers before you commit

See an estimate first with the vehicle loan repayment calculator. Calculator results are estimates only.

Before you shop

How much can I borrow for a vehicle?

A woman at her kitchen bench on a phone call, with a notebook and a coffee beside her

It depends on what a lender assesses you can comfortably repay, not on a set limit. Lenders look at your income, your regular outgoings and existing debts, your credit history, any deposit, and the vehicle itself, including its age and value.

Knowing your budget before you shop keeps the decision about the vehicle separate from the decision about the loan. A conditional approval may include the most you can borrow. Before you sign any vehicle loan, whoever it is with, it helps to understand four things:

  • The total amount repayable, including interest and fees, over the whole term.
  • The term: a longer one lowers each repayment but usually raises the total cost.
  • The fees: establishment, ongoing and any cost for repaying early.
  • Security: whether the loan is secured against the vehicle, and what that means if you fall behind.

Secured or unsecured

Secured vs unsecured vehicle loans: what is the difference?

A secured vehicle loan uses the vehicle as security: the lender holds an interest in it until the loan is repaid, and can take steps to recover it if repayments are missed. An unsecured loan has no asset behind it, so the lender relies on your income and credit history alone.

Most vehicle loans are secured. Which kind a lender offers depends on its criteria, your situation and the vehicle. Either way:

  • Vehicles lose value over time, so for part of a secured loan you may owe more than the vehicle would sell for.
  • Missed repayments can affect your credit record, secured or not.
  • We explain the costs and the security in plain English, and you see the full terms in writing before you sign.

Repayments

What would the repayments be on a vehicle loan?

At an example rate of 12% p.a. over 5 years (60 monthly payments), a $30,000 vehicle loan works out to about $667.34 a month, excluding fees. Your actual rate is set by the lender.

To try your own numbers, enter the amount, a term and a rate into our finance calculator for weekly, fortnightly and monthly estimates. Calculator results are estimates only: your repayments are confirmed in your loan documents. What changes the figure:

  • The rate a lender offers, which reflects your credit history and the vehicle.
  • Fees, and whether any are added to the loan.
  • Any deposit, which reduces the amount you borrow.

Where you buy

Can I finance a vehicle from a dealer or a private seller?

Yes. We arrange vehicle loans for dealer and private sales. Buying from a dealer, you may be offered finance at the yard, and it is worth comparing that offer on its total cost. Buying privately, check that the seller owns the vehicle and whether any money is owing on it before you pay.

For everyday motoring see car loans, and for a vehicle used for work see business vehicle finance.

After the purchase

Can I protect the vehicle once it is mine?

Yes. We arrange mechanical warranties through a range of warranty providers, to help with the cost of unexpected mechanical or electrical failure. You can take one with a vehicle loan or on its own, without one.

What a warranty covers and what it costs depend on the vehicle and the cover chosen. We explain the details before you commit.

Who we help

Who can apply for vehicle finance?

You can apply for vehicle finance with us if you are working, wherever you live in New Zealand, and whether you are buying from a dealer or a private seller. If you are self-employed or contracting, you may be able to apply, depending on the lender. Every application is assessed against lender criteria, including affordability.

We are not able to help if your main income is a benefit, or if you are not currently working. We would rather say so plainly now.

To apply, it helps to have these ready:

  1. 01Photo ID, such as your New Zealand driver licence.
  2. 02Proof of your address.
  3. 03Proof of your income, such as recent payslips or bank statements.

How it works

How to apply for vehicle finance

Four steps from application to funding. Applications are not an offer of finance.

  1. 01

    Apply online

    Tell us about the vehicle and your situation in our online application. It is not a commitment. Prefer to talk? Call 0800 995 014 and we can do it together in 5 to 10 minutes.

  2. 02

    A quick initial decision

    We aim to come back to you within the hour during business hours, along with any documents the lender needs.

  3. 03

    Verify your details

    Send your photo ID, proof of address and proof of income so the lender can confirm the loan.

  4. 04

    Sign, then funding in 24 to 48 hours

    Once the loan is approved and your documents are signed, funding follows within 24 to 48 hours.

At a glance

Vehicle finance by type

The loan works the same way for every vehicle. What changes is who tends to buy it and what a lender looks at.

VehicleOften bought byWhat lenders usually look at
CarCommuters, families and first-time buyersIncome and regular expenses, credit history, the car's age and value
UteTradespeople, farmers and families who towIncome, whether the ute is for personal or work use, its age and condition
Motorbike or scooterCommuters and weekend ridersIncome and expenses, credit history, the bike's age and value
Caravan or motorhomeFamilies and travellers planning time on the roadIncome and expenses, the value of the caravan or motorhome
BoatPeople who fish, dive or spend summers on the waterIncome and expenses, the value of the boat, motor and trailer
Business vehicleSole traders, contractors and small companiesBusiness and personal income, how long the business has traded

General information, not financial advice. Every application is subject to lender criteria. Talk to us about the vehicle you have in mind.

Questions

Vehicle finance, answered.

Quick answers. Longer chats are welcome on the phone.

There is no single best way for everyone. The usual options are cash, a bank loan, finance offered at the point of sale, or a vehicle loan arranged by a specialist such as Finance Made Easy. Compare the total amount repayable, the fees and early repayment terms, not just the weekly repayment.

It depends on what matters most to you: total cost, speed, or someone explaining the loan clearly. With Finance Made Easy you apply online, we aim to give you an initial decision quickly, often within an hour during business hours, and you see every cost in plain English before you sign.

No. Many people apply first so they know their budget before they shop. Approvals typically remain valid for 30 days.

No. We are not able to help applicants whose main income is a benefit, or who are not currently working. Vehicle finance through us needs an income from work that a lender can verify.

We arrange finance for cars, utes, motorbikes and scooters, caravans and motorhomes, boats and business vehicles, whether you are buying from a dealer or a private seller. Whether a particular vehicle can be financed depends on the vehicle and on lender criteria, and we will tell you plainly if we can help.

Once your loan is approved and your documents are signed, funding usually follows within 24 to 48 hours. When you are ready, apply for vehicle finance online.

Applications are not an offer of finance. All lending is subject to lender criteria, affordability, verification and responsible lending checks. Calculator results are estimates only. This page is general information, not financial advice.

Finance Made Easy is a trading name of TrueNorth Financial Services Limited, FSP1011270, and a member of Financial Services Complaints Ltd (FSCL), membership 9517.

Request a call back

Rather we call you?

Answer a few quick questions and we aim to call you within 15 minutes during business hours. It is an enquiry with no obligation, and it is not an offer of finance. Ready to go? Apply online now.

  • Vehicle loans, personal loans and mechanical warranties
  • Plain English, no jargon
  • We aim to call you within 15 minutes during business hours
Prefer to talk? 0800 995 014 info@fmefinance.co.nz

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