Car Loan Rates and Options in NZ

If you’re financing a car, the interest rate is a key factor in the total cost. We do the legwork for you - comparing options from NZ lenders to help find a loan that works for you.

Approval is subject to responsible lending inquiries.

better finance

Smart choices start here

Understanding car loan rates

Even a small change in interest rate can make a difference over the life of your loan. That’s why it’s worth looking at rates alongside other factors like loan structure, term, and flexibility. We’ll guide you through options suitable for your needs, so you can move ahead with clarity and control.

better finance™️

Loan Interest Rates

Rates are personalised based on your credit history and loan details. See Loan Information below.

better finance™️

See the full picture

Understand total costs, not just the headline rate.

better finance™️

Match your loan to your budget

Choose repayment terms that fit comfortably with your finances.

better finance™️

Stay in control

Compare without pressure and choose the loan that works for you.

better finance™️

Before comparing car loan rates

It’s important to look at the whole picture. Here are a few things worth checking before you make your choice.

  • Loan term length - A lower rate on a longer term could still cost more in total interest.
  • Fees and charges - Application fees, account fees, or early repayment costs can make a difference.
  • Fixed vs variable rates - Fixed rates offer certainty, while variable rates can change over time.
  • Repayment flexibility - Look for options to make extra repayments without penalty.

We’ll help you compare not just the rates, but all the factors that could affect the total cost of your loan.

Finance made clear

Straightforward advice, real options

  

better finance™️

Your needs first

We’ll start with your goals and budget, then explore loan options that work for you.

better finance™️

Clear explanations

We’ll outline the costs, terms, and repayment details in plain, straightforward language.

better finance™️

Choice without pressure

  • You decide which loan feels right, with guidance and support every step of the way.

Apply today

Discover loan and repayment options that may work for you.

Your questions, answered

Car loan rates & options FAQs
Here’s what people often ask us when they’re exploring car loan rates and finance options in NZ.

Will the lowest rate always be the cheapest option?

Not necessarily — fees, loan terms, and repayment flexibility all impact the total cost. We’ll help you review the full picture.

Can I change my rate later?

If your loan has a variable rate, it can change over time. With fixed-rate loans, the rate stays the same for the agreed term unless you refinance to a new loan.

Do I need a perfect credit score to get a low rate?

No - lenders consider a range of factors, but a stronger credit history can help you access lower rates.

How quickly can I get an answer?

Typically we can secure a conditional approval within a couple of hours, and if we have all the required documentation, settlement within one or two business days.

Loan Information

*Fixed interest rates for vehicle loans range from 7.95% p.a. to a maximum of 29.95% p.a. on a minimum 12 month to a maximum 60-month loan term. Fixed interest rates for personal loans range from 9.95% p.a. to a maximum of 29.95% p.a. on a minimum 12 month to a maximum 60-month loan term. The actual interest rate charged to you will depend on your circumstances, the type of lending required, the security provided.

Fees apply, including an establishment fee of up to $350 and an introducer fee of up to $995. Also, lenders may charge a PPSR fee of between $0 and $14. For example: On a loan of $10,000 over 24 months at 9.95% p.a. with Establishment and Introducer fees totalling $495 and a PPSR Fee of $7.39, the total amount to repay is $11,627 which is 24 monthly payments of $485. Those amounts don’t include ongoing fees, such as Service Fees, charged by the lender. You can find full fee information in the loan contract. We recommend that you check the fees before accepting the loan offer. See more about lender fees here.

Approval is subject to meeting lending criteria, and affordability test applies. Our lender will independently assess whether you are eligible for a loan.
Same day payout subject to the applicant meeting the above conditions and completing loan documentation by 12pm.