Ready to refinance your car loan?

Swap your existing loan for one that’s a better fit — from a sharper rate to more flexible terms.

If your repayments feel too high or your loan no longer works for your needs, refinancing could open up better options for you.

BetterFinanceApr25_ProductPageImages_BadCreditLoans_Img-02-min

Rethinking your loan?

How car loan refinancing can make a difference

Whether you call it car loan refinancing, auto loan refinancing, or replacing your current vehicle finance, the goal is the same — finding a loan that works better for you. It could mean smaller payments, a lower rate, a shorter term, or combining debts into one. Whatever’s driving your change, we’ll help you weigh up the options.

better-finance-Bullet-Point

Lower your payment

See if a new loan could free up more room in your budget.

better-finance-Bullet-Point

Pay off faster

Shorten your term to reduce the time you’re in debt.

better-finance-Bullet-Point

Better interest rate

Compare options that could cost less over the life of your loan.*

better-finance-Bullet-Point

Flexible features

Choose repayment terms or extra-payment options that suit your plans.

better-finance-Bullet-Point

Debt consolidation

Combine your car loan with other debts for a single, simpler repayment.

BetterFinanceApr25_ProductPageImages_PersonalLoans_Img-01-min

Before you refinance

Refinancing can be a smart move, but it’s worth looking at the whole picture before you decide. Here are some of the key things to weigh up so you can make a confident choice.

  • Any break fees or charges — Understand the cost of ending your current vehicle finance early and how it might affect your savings.
  • Interest rate changes — Check how a new rate could change the total cost of your car loan over time.
  • Loan term impacts — A lower monthly repayment over a longer term might mean paying more interest overall.
  • Your future plans — Think about whether you might upgrade your vehicle, change your car loan, or pay it off ahead of schedule.

Our team can walk you through each of these points, explain the pros and cons, and help you work out if refinancing is the right step for you.

Refinancing with confidence

Clear advice, shaped around you

No two car loan refinance stories are the same. Some Kiwis want breathing room, some aim to pay off faster, and others look to consolidate debt or lower their overall cost. Whatever’s driving your change, we’ll help you make it with confidence.

better finance icon8

Make your next move smarter

We look at where you are now, where you want to be, and map out refinance options that match your life — not just your loan paperwork.

better finance icon8

Build a loan that pulls its weight

Whether it’s flexible repayments, a term that suits your plans, or rolling other debts into one, we’ll help shape a setup that works harder for you.

better finance icon8

Keep the jargon in the bin

You’ll always know what’s going on and why. We talk straight, explain clearly, and make sure you feel confident at every step.

Check your car loan refinance options

See if refinancing your car loan could better suit your budget or goals. We’ll outline what’s available, and you choose whether to move forward.

Your questions, answered

Car loan refinance FAQs
We know refinancing can feel like a big decision, and it’s natural to have questions. Here are some of the things people most often ask us — along with straightforward answers to help you decide what’s right for you.

How do I know if refinancing my car loan is worth it?

It depends on your current loan terms, any fees for switching, and what’s available from other lenders. We can help you compare the total cost of your current loan with potential new options, so you can see clearly whether it could make financial sense for you.

Can I refinance if I’ve missed payments in the past?

Possibly. Some lenders will still consider your application, even if your credit history isn’t perfect. We’ll walk you through the options may be available.

Will refinancing affect my credit score?

A credit check is usually part of the refinancing process. This may have a small, temporary impact, but the bigger picture is whether the new loan improves your situation in the long run.

What costs should I watch out for?

It’s important to factor in any exit fees from your current loan, as well as establishment or documentation fees for the new one. We’ll outline all known costs upfront so there are no surprises.

How long does refinancing take?

Timelines vary depending on your circumstances and the lender you choose. In many cases, the process can be completed within a working day once all documents are provided, but we’ll give you a realistic timeframe for your situation.

Do I need to change my car if I refinance?

No - refinancing replaces your loan, not your vehicle. Your car stays the same; only the finance arrangement changes.

*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, and is determined by the lender. 

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.