Car loan? Sorted!

Vehicle loans can be used to fund the purchase of many vehicles, including cars, trucks, motorbikes, caravans, jet-skis, motorboats, yachts… You name it… if it has wheels or floats, there’s a good chance you can use vehicle finance to buy it.

In short, a car loan allows people to borrow money to buy a vehicle, and pay that money, plus interest and fees, off over time. There are a few things to consider when taking out a car loan – the term, the interest rate, fees, affordability and more. At MVF, we have a team 20+ financial advisers here to help you work through the detail and find the right vehicle finance for your needs and plans.

Getting a vehicle loan can be super quick – in fact, we often help Kiwis get their vehicle finance sorted in less than a day. Of course, that is subject to lender approval and having all required info in place. But whether it is the same day, one day or more, you can be sure that the team at Motor Vehicle Finance work at pace.

We work with a wide range of lenders so that we can help Kiwis with all sorts of car finance needs. Currently, our lender panel includes Heartland, Marac, Oxford Finance, Finance Now, Geneva Finance, Avanti Finance, UDC, Gem Finance and Community Financial Services.

Interest rates range from 9.95% p.a. to 29.95% p.a. and are personalised to each borrower’s profile and needs (for example, credit history, security etc). To find out your personalised interest rate, complete our quick form here.

Good question to ask upfront! There are both establishment/introducer and lender fees to be aware of when taking out a loan. To find out about the fees we charge, please click here to view our Disclosure Statement and to find our more information about lender fees click here. But in the meantime, here is a loan example with key fees incorporated in the repayment figures and total amount repayable.

Example: On a loan of $5,000 over 12 months at 10.95% p.a. with Establishment and Introducer fees totalling $495 and a PPSR Fee of $7.39, the total amount to repay is $5,835.93 which is 12 monthly payments of $486.34.

Easy. Click here to use our super handy calculator. You can adjust amount, term and other factors to get a sense for what you feel comfortable borrowing. Then, once you apply, you’ll be taken care of by one of our 20+ Financial Advisers: they will talk with you about various options and what will work for you. Perfectly personalised to your needs!

Yes it is (subject to lender criteria and approval). If you would like to explore borrowing the full vehicle finance amount with no deposit down, start the ball rolling on our application form here.

For sure. Our team are expert at helping Kiwis refinance existing vehicle finance.

Quick tip before you start: Make sure you are clear on what you want to achieve with vehicle refinance and the implications, for example: (a) do you want to reduce your current repayments, (b) do you want to review your interest rate and total cost of debt, or (c) other refinance objectives… In a nutshell, when refinancing your car loan, it is important to be clear on what you want to achieve and any implications of making a change from one lender to another. We’re here to help you make a good choice for your needs!

No, applying with MVF does not affect your credit score.

Your credit score is super important to protect: It is a critical factor in your borrowing power and the interest rates that lenders will offer. In our book, doing everything possible to protect it is crucial. When you apply with MVF, there is no impact on your credit score. It is only when you have chosen your preferred lender (and want to proceed) that a full credit report is run, and an enquiry will sit on your record.

As a side note, we definitely recommend that you check out Clear Score or other credit bureau tools in NZ. These days you can have a 24/7 view on your credit profile and the information to act if you need to. Handy!