Car loans

You have to be at least 18 years old, a New Zealand resident and have a regular, stable income. You’ll also need a New Zealand Driver’s Licence suitable for the vehicle you’re buying. After you've received a quote and agree to go through the application process a credit check will be carried out.

The vehicle must be less than 20 years old when you take out the loan and have a current Warrant of Fitness and Registration when you buy it. You'll also need comprehensive car insurance.

The interest rates on car loans vary depending on a number of things like how much you borrow, the length of time you'll be paying the loan off, your credit rating and how much the vehicle is worth (the car will be used as security for the loan).

Getting conditional approval means you can negotiate like a cash buyer and can buy anywhere – privately, online, at a car yard or an auction. Once you've found the car you want, we can transfer the funds the next business day if we have all the information we need.

Details about your employment and income, rent or mortgage payments, anything you owe on other loans, overdrafts, credit or store cards (including the limits on those cards and your current repayments).

For car loan interest rates to apply, the minimum amount borrowed needs to be at least $6,000. For cars worth more than $2,000 but less than $6,000, you can apply for a personal loan.