Best Car Finance Products in New Zealand
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Our Favorite Car Finance Products in NZ

Need car financing? If you do, no problem, as we’ve put together a list of car finance products in New Zealand!

We also have a simple step-by-step guide below to help you find the right car loan. Let’s go through it first so you can make the most of our list of car loans later.

How to Get Car Loans in NZ

Here are the things you have to do to get a cost-effective car loan:

1) Research the car finance options available

Get a quote online from your top car finance providers. This will help you narrow down the choices to those that offer the lowest interest rates and loan fees.

Try P2P lenders first like Simplify and Lending Crowd since they offer the best interest rates for cars, then look at banks, credit unions, and finance companies.

You can also ask a family member or friend who has sought finance for his car before. The advice given might help you.

At all costs, we advise against getting finance from car dealerships, though, since they usually charge higher rates and fees in order to get a commission.

2) Apply for a loan with a car finance provider

If it’s your first time to get car financing, you may think it strange to apply for a loan before selecting your dream car. But there are good reasons for that.

With a preapproved loan, you’ll know how much you have for a new car.   Negotiating with a car salesman will be easier and you might get a better rate too.

Plus, that shows that you’re an informed buyer and will be protected from financial sleight of hand, or from being taken advantage of.

3) Get a fair interest rate that you can afford

Your car loan’s interest rate has a big effect on your expenses. You have to ensure that this is something you can afford over the entire term until the debt is fully paid.

Of course, the lower the rate, the better the deal. However, you have to weigh this against the loan fee and other charges such as the dealer and security interest fees.

Remember, you will be paying interest on top of the car loan. If the interest is pricey, it could offset what you might have initially saved with the price of the car.

4) Calculate your monthly repayments

Don’t just take out a loan without a full grasp of the cost. This will save you a lot of headaches in the future and allow you to find the best way to repay the debt in full.

Most banking or car finance sites have a loan calculator to allow you to calculate the full price of the loan, total interest, and how many repayments you have to make.

Car Finance Products in NZ

With that in mind, you’re now ready to get car financing. Without any further ado, here are car finance products in New Zealand!

1)   Simplify

Simplify's Homepage
Best forStress-free car finance
FinanceCar finance
Contact details0800 001 561
[email protected]
Office hoursMonday – Friday: 8.00 AM – 5.30 PM
Saturday – Sunday: closed
RatesInterest rate: from 6.5% to 12.5% p.a.
Establishment Fee: $276
Dealer / Broker / Introducer Fee: $500
Security interest fee (PPSR): $10
Early repayment fee: free  
For other prices, please click this link

Apply Here

Simplify is a preferred company offering car finance in NZ at competitive interest rates. The interest rates they offer here range from just 6.5 to 12.5% p.a., which aren’t bad.

Like their name,  they are reputed to offer a simple and pain-free experience to their clients.

All you have to do is pick a used or new car and they will take care of the rest, including negotiating with the top lenders, checking the car, and giving you its report.

Getting a quote from them is quick and so is the approval, which can be done within an hour. The car will also be delivered to your place on the very next day!


  • Low interest rates
  • Fast quoting and approval
  • Stress-free process
  • Knowledgeable staff


  • High loan fee

Customer Reviews

There are only a handful of people who were dissatisfied with the service. Most of them praised the friendly and knowledgeable team as well as the stress-free process.

Here’s what Andrew has to say of Simplify:

“Dom was absolutely fantastic, after my original vehicle selling hours before I aqquired finance, he managed to source an alternative that ticked all my boxes within 24 hours.

He was very helpful and exceptional with communication, the whole process was very straightforward and easy to understand.

Would happily recommend them to others &/or use Simplify again.

Thanks Dom (and simplify)!”

Another client stated this:

“Great friendly staff.. Colin was awesome from start to finish. Explained everything and was super open. He is a great asset to your business – give him a extra bonus :)”

2)   Lending Crowd

Lending Crowd's Homepage
Best forLow-interest secured loans
FinanceCar loans
AddressQB Studios, 206 Jervois Street, Auckland, New Zealand 1011
Contact details+64 800 308 002
[email protected]
Office hoursMonday – Friday: 8.30 AM – 5.00 PM
Saturday – Sunday: closed
RatesInterest rate: from 5.03% p.a.  
Establishment fees  
$2,000 – $5,000: $200
$5,050 – $50,000: $450
$50,050 – $100,000: $950
$100,050 – $200,000: $1,450  
Security interest fee (PPSR): free
Early repayment fee: free  
For other prices, please click this link

Apply Here

Lending Crowd offers super-low rates from 5.66% for an unsecured loan for two years, and even lower than that from 5.03% for a secured loan for 3 years.

That’s a huge plus, you may say, but there’s an exchange in the form of high loan fees, especially if the new car you’re buying costs $50,000 and above.

You can opt to repay your loan in a 2, 3, or 5-year term. We like that if you happen to pay a little earlier than expected, you won’t have to pay a repayment fee, as opposed to others.

The application is done online and can be finished in a few minutes. Once your loan is approved, the money will be transferred to your bank account—as easy as that.


  • Super-low interest rates
  • No early repayment fee
  • 100% online application


  • Differing loan fees (based on the purchase price of your car)
  • No car expert to answer your questions

3)   The Co-operative Bank

The Co-operative Bank's Homepage
Best forFlexible repayment terms
FinancePersonal loan
AddressNew Zealand-wide
Contact detailsPhone: +64 800 554 554
Overseas: +64 4 463 1758
Office hoursMonday to Friday: 8.00 AM – 8.00 PM
Saturday – Sunday: 9.00 AM – 5.00 PM
RatesInterest rate: from 6.99% to 19.99%
Establishment fee: $200 per application
Security interest fee (PPSR): free
Early repayment fee: free  
For other prices, please click this link

Apply Here

The Co-operative Bank provides unsecured loans from $3,000 to $50,000, which you can use to finally get in the driver seat of your dream car.

The interest rates are low but floating, meaning they can go up or down throughout the repayment period. You can choose to repay the loan weekly, fortnightly, or monthly.

Then, the establishment fee will be $200 per application. Suppose in the middle of your loan, you take out a new one, you will have to pay another $200 on top of that.

To get an accurate idea of how much you would need to pay, you can use their reliable, easy loan calculator on their website.

Offering one of the most convenient car loans in NZ, the Co-operative Bank lets you apply for that via their mobile app or internet banking. Overall, it’s one of the easiest to deal with on this list.


  • Great interest rates
  • Flexible payment terms
  • Apply via app or online
  • No early repayment fees


  • Floating interest rates
  • No secured loans

4)   UDC Finance

UDC Finance's Homepage
Best forSame-day loan approval
FinanceCar loans
AddressPO Box 91145, Victoria Street West, Auckland 1142, New Zealand
Contact detailsNew car loan: 0800 322 888
Existing car loan: 0800 500 832
Office hoursMonday – Friday: 8.30 AM – 5.00 PM
Saturday – Sunday: closed
RatesInterest rate: from 8.95% – 9.95% p.a.
Establishment fee: $195
Security interest fee (PPSR): $10.35
Early repayment fee: $7+ Maintenance: $2/month  
For other prices, please click this link

Apply Here

UDC Finance is an NZ finance company with over 80 years of experience. It provides transparent loans for cars, bikes, utes, and trucks from $10,000.

It prides itself on having an easy application process, which can be approved within 1 business day.

UDC’s interest rates are a little higher from 8.95% to 9.95% p.a but that will depend on your credit rating, loan amount, and repayment term.

The establishment fee is good at just $195. However, they charge an early repayment fee to cover possible losses, plus a maintenance fee that costs $2 per month.


  • Low interest rates
  • Same-day approval
  • Easy application process
  • Flexible loan terms


  • Has a maintenance fee of $2/month
  • Has an early repayment and admin fee of $7

5)   Marac

Marac's Homepage
Best forZero-deposit car finance
FinanceCar loans
AddressLevel 3, 277 Broadway, Newmarket 1023 Auckland, New Zealand
Contact detailsPhone: 0800 85 30 30
Email: [email protected]
Fax: +64 9 927 9319
Office hoursMonday – Friday: 8.00 AM – 5.00 PM
Saturday – Sunday: closed
RatesInterest rate: from 7.95% to 14.95% p.a.
Establishment fee: $205
Security interest fee (PPSR): $7.39
Early repayment fee: $7  
For other prices, please click this link

Apply Here

Marac is provided by Heartland Bank and offers car, boat, and leisure loans. For over 65 years, it has proven to be a trusted lender to Kiwis time and time again.

They have interest rates that range from 7.95% to 14.95% per annum. To be safe, you can presume to get around 11.95% p.a. for your car finance.

The loan can be paid over from 6 months up to 5 years. You can apply online from any place and any time, which makes everything super-easy.

They also offer zero-deposit finance to get you behind the wheel without having to pay until later. Furthermore, there’s an early repayment fee of $7.


  • Zero-deposit finance
  • Fair interest rates
  • Quick approval
  • Convenient online application


  • Has an early repayment fee of $7

FAQS about Car Finance in NZ

That marks the end of the our preferred car finance products in NZ list. You now know whom to approach if you need finance for a new car.

Have any questions or thoughts regarding this list? If you have one, kindly drop us a line and we’ll get back to you in a jiffy.

Also, you may need to get insurance to protect the car you will buy. For this, you can read about car insurance in Auckland!