Car loans

Buying a new or used car is a major purchase and you should understand the fees and interest rates you will pay if you finance the purchase.

Firms offering such finance have a duty to disclose all the necessary detail.

The problem is that most car finance conversations happen after you have found the car you want, and the disclosures then make it hard to gracefully do a proper comparison when the 'deal is on the table'.

This page will help you understand where the market is before you talk about finance with a car dealer or seller.

Car loan interest rates always seem higher than home loans, and the temptation is to add to your mortgage for the car. But remember a mortgage can last for decades, whereas a car loan is usually 48 months or less. The shorter the loan term, the less total interest you are likely to pay (despite the interest rate). Use our calculator here to compare.


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Institution Product Plan Notes Interest rate %
ASBPersonal LoanSecured by carFrom12.95
Personal LoanSecured by carTo17.95
Co-operative BankVehicle LoanSecuredFrom12.95
Vehicle LoanSecuredTo17.95
KiwibankVehicle LoanSecured by carFrom12.99
Vehicle LoanSecured by carTo18.99
WestpacPersonal LoanSecured by car13.95

Credit Unions

Institution Product Plan Notes Interest rate %
First CUCar LoanSecuredFrom ...10.99*
NZCU BaywidePersonal LoanSecuredfrom13.95
Personal LoanSecuredpremium rate from9.90
Police CUPersonal Loan (Membership criteria apply)SecuredFrom10.70
Personal Loan (Membership criteria apply)SecuredTo13.75

Finance Companies

Institution Product Plan Notes Interest rate %
AA FinanceCar or Boat LoanSecuredFrom9.95
Car or Boat LoanSecuredTo15.95
Avanti FinanceCar loansSecuredFrom13.95
Finance DirectCar LoansSecured by carFrom9.95
Car LoansSecured by carTo24.95
Finance Now Personal LoanSecuredFrom12.95
Personal LoanSecuredTo27.95
FinancepointCar/Boat LoanSecuredNew12.95
Car/Boat LoanSecuredUsed13.95
Financial Holdings Vehicle LoanSecuredfrom9.95
GEMCar LoanSecuredFrom12.99
Car LoanSecuredTo29.99
I FinanceCar LoanSecuredFrom12.95
Car LoanSecuredTo19.95
John Deere CreditTractorsSecured4.75
MARACCar loanSecuredFrom12.95
Car loanSecuredTo19.95
MTFVehicles loanSecuredFrom10.75
Vehicles loanSecuredTo22.75
NZ LoanCar and Boat LoanSecuredFrom12.95
Paraloanfor people with physical disabilitiesSecuredFrom6.60
Stadium FinanceCar LoanSecuredFrom8.95
Car LoanSecuredTo19.95
Toyota Financial ServicesClassic / ChoicesSecuredFrom9.50
Classic / ChoicesSecuredTo14.95
Marine LoanSecuredFrom 11.20
Marine LoanSecuredTo14.95
UDC FinanceStandardSecuredFrom9.45