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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.

Only published interest rates or interest rate ranges are shown on this page. Most lenders also charge one-time establishment fees, plus often they will charge monthly account administrative fees on top of the interest rate. These costs can push the effective cost of credit (debt) up significantly. We recommend you find out three core things before you enter into any financial commitment. 1.) the net amount you will receive in your hand from this loan, 2.) the total amount of each payment, and 3.) the number of payments you will be required to make, and how often (ie: weekly, fortnightly, monthly). Then you should enter this information inĀ this calculator. It will show the effective cost of the debt you are committing to.


Institution Product Plan Notes Interest rate %
ASBPersonal LoanSecured by carFrom12.95
Personal LoanSecured by carTo17.95
Co-operative BankVehicle LoanUnsecuredFrom9.50
Vehicle LoanUnsecuredTo19.50
Heartland BankCar LoanSecuredFrom7.95
Car LoanSecuredTo14.95
KiwibankVehicle LoanSecured by carFrom9.95
Vehicle LoanSecured by carTo18.95
WestpacPersonal LoanSecured by car14.00


Institution Product Plan Notes Interest rate %
HarmoneyCredit grade - A1Unsecured6.99
Credit grade - B1Unsecured13.39
Credit grade - C1Unsecured18.90
Credit grade - D1Unsecured19.99
Lending CrowdCredit grade - A1Secured3 Years 6.45
Credit grade - A2Secured3 Years7.95
Credit grade - B1Secured3 Years9.06
Credit grade - B2Secured3 Years10.07
Credit grade - A1Unsecured2 Years6.98
Credit grade - A2Unsecured2 Years8.60
Credit grade - B1Unsecured2 Years11.20
Credit grade - B2Unsecured2 Years11.68
Squirrel MoneyVehicle LoansSecured8.95

Credit Unions

Institution Product Plan Notes Interest rate %
First CUCar LoanSecuredFrom9.99
NZ Firefighters CUPersonal Loans (Membership criteria apply)SecuredFrom11.95
Personal Loans (Membership criteria apply)UnsecuredFrom12.95
NZCU AucklandPersonal LoanSecured9.95
Police CUPersonal Loan (Membership criteria apply)Secured12.95
UnityPersonal LoanSecuredfrom13.95
Personal LoanSecuredpremium rate from9.90

Finance Companies

Institution Product Plan Notes Interest rate %
AA MoneyCar or Boat LoanSecuredFrom5.95
Car or Boat LoanSecuredTo15.95
Avanti FinanceCar LoansSecuredFrom9.95
Car LoansSecuredTo21.95
CFS FinanceCar LoanSecuredFrom9.95
Car LoanSecuredTo22.95
Christian Savings Car LoanSecuredFrom6.56
Car LoanSecuredTo8.84
Finance DirectCar LoansSecuredFrom6.69
Car LoansSecuredTo24.95
Finance Now Personal LoanSecuredFrom12.95
Personal LoanSecuredTo27.95
Financial Holdings Vehicle LoanSecuredfrom9.95
GemCar Loan (>$6,000)SecuredFrom6.99
Car Loan (>$6,000)SecuredTo18.99
Geneva FinanceVehicle LoanSecuredFrom8.95
Vehicle LoanSecuredTo28.95
Go Car FinanceVehicle LoanSecuredFrom7.95
Vehicle LoanSecuredTo29.95
John Deere CreditTractorsSecured4.75
MARACCar loanSecuredFrom7.95
Car loanSecuredTo19.95
MTF FinanceVehicles loanSecuredFrom9.70
Vehicles loanSecuredTo21.70
NZ LoanCar and Boat LoanSecuredFrom12.95
NZ Vehicle Finance Car Loan SecuredFrom8.90
Car Loan SecuredTo15.95
Oxford FinanceVehicle financeSecuredFrom ...7.95
Vehicle financeSecuredTo ...20.95
Paraloanfor people with physical disabilitiesSecuredFrom6.20
Stadium FinanceCar LoanSecuredFrom9.95
Car LoanSecuredTo19.95
Thorn FinanceCar LoanSecuredFrom9.95
Car LoanSecuredTo29.95
Toyota Financial ServicesClassic / ChoicesSecuredFrom7.00
Classic / ChoicesSecuredTo13.95
Marine LoanSecuredFrom 15.95
Marine LoanSecuredTo13.95
Special - Signature ClassSecured7.25