When it comes to financing a vehicle in New Zealand, there are several options available, ranging from secured and unsecured loans to specific electric vehicle (EV) loans. The interest rates for these loans can vary depending on the lender, loan type, and other factors such as the loan term, the amount borrowed, and the borrower’s credit history.

Car Loan Interest Rates

If you are looking to finance a car in New Zealand, it is important to compare the different car loan options available and choose the one that suits your budget and requirements. Interest rates for car loans vary among financial institutions, and finding the best deal can save you money in the long run. To help you get started, we have compiled a table with some of the leading car loan rates from various types of lenders, including banks, peer-to-peer platforms, and finance companies. Take a look at the table below to compare the interest rates and find the best car loan option for you.

Bank Car Loan Rates

InstitutionProductPlanNotesInterest rate %
ASBPersonal LoanSecured by carFrom12.95
Personal LoanSecured by carTo17.95
Co-operative BankVehicle LoanUnsecuredFrom6.99
Vehicle LoanUnsecuredTo17.75
Heartland BankCar LoanSecuredFrom9.95
Car LoanSecuredTo15.95
KiwibankVehicle LoanSecured by carFrom9.95
Vehicle LoanSecured by carTo18.95
WestpacEVs and e-BikesSecured by car6.99
Personal LoanSecured by car14.00

Peer To Peer Car Loan Rates

InstitutionProductPlanNotesInterest rate %
HarmoneyCredit grade – A1Unsecured6.99
Credit grade – B1Unsecured13.39
Credit grade – C1Unsecured18.90
Credit grade – D1Unsecured19.99
Lending CrowdCredit grade – A1Secured3 Years7.95
Credit grade – A2Secured3 Years8.90
Credit grade – B1Secured3 Years10.70
Credit grade – B2Secured3 Years11.20
Credit grade – A1Unsecured2 Years8.45
Credit grade – A2Unsecured2 Years9.50
Credit grade – B1Unsecured2 Years12.20
Credit grade – B2Unsecured2 Years12.90
Squirrel MoneyVehicle LoansSecured8.95

Finance Companies Car Loan Rates

InstitutionProductPlanNotesInterest rate %
AA MoneyCar or Boat LoanSecuredFrom 7.95To 18.95
Avanti FinanceCar LoansSecuredFrom 10.70To 26.20
CFS FinanceCar LoanSecuredFrom 9.95To 22.95
Christian SavingsCar LoanSecuredFrom 6.56To 8.84
Finance DirectCar LoansSecuredFrom 6.69To 24.95
Finance NowPersonal LoanSecuredFrom 12.95To 27.95
Financial HoldingsVehicle LoanSecuredFrom 9.95To –
GemCar Loan (> $6,000)SecuredFrom 8.99To 24.99
Geneva FinanceVehicle LoanSecuredFrom 8.95To 28.95
Go Car FinanceVehicle LoanSecuredFrom 7.95To 29.95
John Deere CreditTractorsSecured4.75
Kiwi Car LoansVehicle LoanSecuredFrom 9.95To 19.95
MARACCar loanSecuredFrom 9.95To 15.95
MTF FinanceVehicles loanSecuredFrom 10.50To 22.50
Mutual Credit FinanceCars, BoatsSecuredFrom 11.35To 23.35
NZ LoanCar and Boat LoanSecuredFrom 12.95
NZ Vehicle FinanceCar LoanSecuredFrom 8.90To 15.95
Oxford FinanceVehicle financeSecuredFrom 7.95To 20.95
ParaloanFor people with disabilitiesSecuredFrom 10.30
Stadium FinanceCar LoanSecuredFrom 9.95To 19.95
Thorn FinanceCar LoanSecuredFrom 9.95To 29.95
Toyota Financial ServicesClassic / ChoicesSecuredFrom 8.25To 13.95
Marine LoanSecuredFrom 9.95To 15.95
Special – Signature ClassSecured7.25
UDCStandardSecuredFrom 9.45To 11.95

It’s important to note that these rates are subject to change and borrowers should always check with the lender for the latest rates and terms. Additionally, borrowers should carefully consider their financial situation and borrowing needs before committing to any loan.