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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 LoanUnsecuredFrom8.99
Vehicle LoanUnsecuredTo17.75
Heartland BankCar LoanSecuredFrom9.95
Car LoanSecuredTo15.95
KiwibankVehicle LoanSecured by carFrom9.95
Vehicle LoanSecured by carTo18.95
WestpacEVs and e-BikesSecured by car6.99
Personal LoanSecured by car14.00


Institution Product Plan Notes Interest rate %

Credit Unions

Institution Product Plan Notes Interest rate %
First CUCar LoanSecuredFrom9.99
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 LoanSecuredFrom7.95
Car or Boat LoanSecuredTo18.95
Avanti FinanceCar LoansSecuredFrom10.70
Car LoansSecuredTo24.20
CFS FinanceCar LoanSecuredFrom9.95
Car LoanSecuredTo22.95
Finance DirectCar LoansSecuredFrom6.69
Car LoansSecuredTo24.95
Finance Now Personal LoanSecuredFrom12.95
Personal LoanSecuredTo27.95
Financial Holdings Vehicle LoanSecuredfrom9.95
GemCar Loan (>$6,000)SecuredFrom8.99
Car Loan (>$6,000)SecuredTo24.99
Geneva FinanceVehicle LoanSecuredFrom12.95
Vehicle LoanSecuredTo28.95
Go Car FinanceVehicle LoanSecuredFrom11.95
Vehicle LoanSecuredTo27.95
HarmoneyVehicle LoanUnsecuredFrom9.99
Vehicle LoanUnsecuredTo24.99
Vehicle LoanSecuredFrom9.89
Vehicle LoanSecuredTo21.49
Instant FinanceCar LoanUnsecuredFrom12.95
Car LoanUnsecuredTo29.95
John Deere CreditTractorsSecured4.75
Kiwi Car LoansVehicle LoanSecuredFrom9.95
Vehicle LoanSecuredTo19.95
MARACCar loanSecuredFrom9.95
Car loanSecuredTo15.95
MTF FinanceVehicles loanSecuredFrom11.70
Vehicles loanSecuredTo23.70
Mutual Credit FinanceCars, BoatsSecuredFrom11.35
Cars, BoatsSecuredTo23.35
NZ LoanCar and Boat LoanSecuredFrom12.95
NZ Vehicle Finance Car Loan SecuredFrom8.90
Car Loan SecuredTo15.95
Oxford FinanceVehicle financeSecuredFrom ...10.95
Vehicle financeSecuredTo ...20.95
Paraloanfor people with physical disabilitiesSecuredFrom10.30
Stadium FinanceCar LoanSecuredFrom9.95
Car LoanSecuredTo19.95
Thorn FinanceCar LoanSecuredFrom9.95
Car LoanSecuredTo29.95
Toyota Financial ServicesClassic / ChoicesSecuredFrom8.25
Classic / ChoicesSecuredTo13.95
Marine LoanSecuredFrom9.95
Marine LoanSecuredTo15.95
Special - Signature ClassSecured7.25