MTF Finance (Motor Trade Finance) is New Zealand’s largest specialist vehicle lender, with branches throughout the country and partnerships with hundreds of car dealerships. It lends to buyers who don’t qualify for the lowest bank rates and on older vehicles that banks may not accept.
Rates: ~10–24% p.a. (risk-based)
Loan amounts: $2,000–$100,000+
Terms: 1–7 years
Vehicle types: Cars, utes, vans, motorcycles, boats, caravans
Vehicle age: Generally flexible, including older vehicles
Distribution: Via dealers, MTF branches, or direct online
Owned by: NZ franchisee network (not bank-owned)
MTF Finance Rates
MTF Finance uses risk-based pricing, so your rate depends on your credit profile, income, vehicle type, and loan amount. Published rates as at June 2026:
| Credit profile | Indicative rate |
|---|---|
| Excellent credit, near-new vehicle | ~10–12% p.a. |
| Good credit | ~12–15% p.a. |
| Average credit | ~15–20% p.a. |
| Below average credit | ~20–24% p.a. |
In the comparison table below, bank car loans start slightly lower (~9.95% vs ~10%), while MTF accepts older vehicles and some adverse credit.
How MTF Finance Works
MTF Finance operates through a franchise model — MTF franchisees are local business owners who operate the branches. This means:
- Local decision-making in many cases (branch manager has more discretion)
- Branches from Northland to Southland
- Dealer partnerships — dealer staff can arrange MTF Finance for buyers on-site
What MTF Finance Can Do That Banks Can’t
Older vehicles: MTF Finance can finance older vehicles (10–15+ years) that banks won’t consider. The vehicle must still have sufficient value as security, but MTF has broader criteria.
Non-standard employment: Contractors, self-employed, or people with non-standard income are assessed more holistically at MTF than at major banks.
Adverse credit: While MTF still does a credit check and will decline high-risk applications, they can work with some adverse history that would result in a bank decline.
MTF Finance Fees
MTF Finance charges an establishment fee on all loans. The exact amount depends on the loan size and is disclosed in your loan documentation. Typically:
- Establishment fee: ~$250–$500
- No monthly management fee (confirm at application — some franchisees may apply one)
- Early repayment: some MTF loans have an early repayment fee — check before signing
Features and Limitations
Features:
- Largest specialist auto lender in NZ, with branches nationwide
- Finances vehicles up to 15+ years old and considers some adverse credit
- Local franchise model with branch-level decisions
- Can consider non-standard employment
- Cars, utes, vans, motorcycles, boats and caravans
Limitations:
- Rates are higher than banks for excellent credit borrowers
- Establishment fees (~$250–$500) can be higher than banks’ (~$100–$200)
- Early repayment fees on some products
MTF Finance vs Banks
| Feature | MTF Finance | Bank car loan |
|---|---|---|
| Lowest rate | ~10% p.a. | ~9.95% p.a. |
| Average rate for good credit | ~12–15% p.a. | ~11–14% p.a. |
| Vehicle age accepted | Up to 15+ years | 10–12 year limit |
| Adverse credit | Some considered | Rarely considered |
| Application | Dealer, branch, online | Online or branch |
| Establishment fee | ~$250–$500 | ~$100–$200 |
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.