A car in New Zealand can be financed with a bank personal loan, a specialist vehicle lender’s car loan, or finance arranged through the dealer. This page sets out the rates, loan limits and fees the lenders publish, and what the rate means for the total cost.
ANZ personal loans, which can be used for vehicles: 13.90% p.a.
BNZ Advanced Personal Loan: 12.90% p.a.
Finance Now: 8.25% to 29.95% p.a.
MTF Finance: 10.55% to 22.55% p.a. secured, 14.00% to 24.00% p.a. unsecured
Lenders with a range set your rate from your credit assessment.
Car Loan Rates and Limits by Lender
Providers are listed alphabetically. Figures from each lender’s own page, checked 14 October 2026.
| Lender | Interest rate | Loan amount | Term | Fees |
|---|---|---|---|---|
| ANZ (personal loan) | 13.90% p.a. | $3,000 to $50,000 | 6 months to 7 years | No application fee |
| BNZ (Advanced Personal Loan) | 12.90% p.a. | $1,000 to $60,000 | 3 months to 5 years | $50 loan facility fee |
| Finance Now (car loan) | 8.25% to 29.95% p.a. | Up to $60,000 | 6 to 60 months | $215 establishment, $2.50 a month |
| MTF Finance (car loan, secured) | 10.55% to 22.55% p.a. | $2,000 to $500,000 | See lender | Up to $380 establishment, monthly admin fee |
ASB, Avanti Finance, Kiwibank and Westpac also lend for vehicles. Their rates couldn’t be checked from their sites on 14 October 2026, so they aren’t in the table; each lender’s site gives a quote. Finance Now’s minimum rate changes to 8.45% p.a. for applications received after 14 January 2027.
The lenders
- ANZ: one standard rate (13.90% p.a.) applies to all its personal loans, which ANZ lists as usable for “cars and other vehicles”, with no application, lump-sum or early repayment fees
- Avanti Finance: a non-bank lender offering vehicle loans, including to some borrowers who don’t meet bank criteria
- BNZ: the Advanced Personal Loan has one establishment fee and no monthly fees or early repayment charges
- Finance Now: part of Heartland Bank; car loans up to $60,000, priced from a credit assessment
- MTF Finance: a vehicle lender working through car dealers and its own lending specialists; it finances new and used cars, utes and vans bought from dealers, privately or online, and charges an early repayment fee if a loan is paid off in full early
Dealer Finance
Dealers arrange finance through lenders they partner with, and some car makers run promotional low or 0% rates on selected models, with conditions. A dealer’s rate and fees can be compared with a direct quote from a bank or lender; see dealer finance vs bank loan.
Total Cost: What $20,000 Costs at Different Rates
| Rate | Monthly repayment (5 years) | Total interest paid |
|---|---|---|
| 8% | $406 | $4,332 |
| 10% | $425 | $5,496 |
| 12% | $445 | $6,693 |
| 15% | $476 | $8,548 |
| 18% | $508 | $10,472 |
| 22% | $552 | $13,143 |
$20,000 over 5 years, monthly repayments, excluding fees.
At 18% instead of 10%, the same loan costs nearly $5,000 more in interest; 2 percentage points (10% to 12%) adds about $1,200.
How to Compare Car Loans
- Rate: the main cost, as the table above shows
- Fees: establishment fees (from none at ANZ to up to $380 at MTF Finance) and any monthly fees add to the total
- Total amount repayable: the lender must disclose it before you sign, and it combines rate and fees in one figure
- Early repayment: some lenders charge nothing to repay early (ANZ, BNZ); others charge a fee (MTF Finance)
- The vehicle: whether the lender accepts the vehicle’s age and type as security
- Approval: lenders with a rate range price the loan from your credit history
Factors That Affect Your Rate
Credit history: lenders with a range price each loan from your credit report and assessment.
Security: a loan secured against the car is priced lower than an unsecured loan at lenders that offer both; MTF Finance’s secured range starts at 10.55% p.a. against 14.00% p.a. unsecured.
Loan-to-value: lending $15,000 against a $25,000 car is a different risk from $20,000 against a $20,000 car, and some lenders adjust rates for it.
Vehicle age and type: some lenders limit the age of vehicle they accept as security. Imported, modified or specialist vehicles can be harder to finance.
Loan term: a longer term lowers repayments but adds total interest.
Where to check the latest data
Rates, fees and returns change often. Before deciding, check current figures yourself:
- interest.co.nz car loan rates: tables of current car loan rates.
- The provider's own website: has its current rates, fees and full terms; these change more often than any comparison page.
- Financial Service Providers Register: shows whether a provider is registered to offer financial services in New Zealand.