At NZ Auto Loans, there are no hidden fees or charges.
We offer an affordable fixed interest rate meaning your interest rate and repayments stay the same over the life of the loan.
You can choose between repayment terms of 6 months to 5 years customised to meet your affordability. Repayments are made weekly, fortnightly or monthly depending on your pay cycle. Plus, you can repay your loan in full at any time to eliminate future interest payments. There are no penalties for lump sum payments. There is an extra charge for early repayment which is calculated at the time the loan is repaid in full.
Interest rates and fees
Interest rates range from 9.95% (p.a.) to 18.95% (p.a.) based on your personal circumstance.
In most cases you pay a once off broker fee of $450. This can vary slightly depending on your credit profile.
NZ Auto Loans are committed to the practice of responsible lending and do not want to keep you in debt. We want you to repay your loan quickly and we aim to only lend to people who we believe can afford to repay us as agreed.
Assessing loan affordability
At NZ Auto Loans, we undertake reasonable enquiries to verify your financial situation. We do this in order to make a responsible assessment about the suitability of the contract for you and the affordability of the loan.
As part of our commitment to responsible lending, customers need to be in permanent employment in order to obtain a loan from NZ Auto Loans.
The amount of money we lend is based on your income. NZ Auto Loans want you to be able to repay your loan as soon as possible and it is important that you do not borrow more than you can afford.
At NZ Auto Loans we reserve the right to run a credit check. We do this as part of our assessment of the suitability and affordability of a loan for you.
We know a few past mistakes can lead to a bad credit history. Therefore, if you have a bad credit rating we may still lend to you. We take your overall financial situation into account, which includes conducting a full bank statement assessment to derive our loan decision.