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Bank Cars Loans
Looking to finance a new or used car? A bank car loan in New Zealand could be the right option for you. But before taking out a loan, it’s important to compare interest rates, loan terms and repayment schedules from different banks to find the best deal. Lets have a look at some of the best banks that offer cars loans in New Zealand.
Things to consider when getting car loans from a bank in New Zealand
There are a few things to consider when shopping for a bank car loan.
The first is the interest rate. Most banks offer competitive rates, so you should shop around to get the best deal.
The second is the term of the loan. Most banks offer loans with terms of 36 or 60 months, but some offer longer terms.
The third is the down payment. Most banks require a down payment of 10-20% of the purchase price of the car.
The fourth is the monthly payment. Most banks require a minimum monthly payment of $100.
The fifth is the loan origination fee. This is a one-time fee charged by the bank to process the loan.
The sixth is the prepayment penalty. Some banks charge a fee if you pay off the loan early.
BNZ Car Loans
Get a loan for your next new or used car, ute or van with our personal service, tailored to you. BNZ car loans make getting the vehicle you want easy.
What you need to know
- BNZ can lend you between $5,000 and $100,000
- Terms from one to seven years
- No monthly account-keeping fees
- A simple and straightforward process
- Rates from 6.99%
How to apply
- To apply for a BNZ car loan you’ll need to be over 18 years old, a New Zealand resident and have a good credit history.
- You can apply for a loan online, in branch or over the phone.
- If you’re applying online you’ll need to have your bank account details handy.
- Once you’ve applied, a decision will be made within minutes in most cases. If we need more information we’ll get in touch.
Things to consider
- You may need to provide security for your loan, such as your car.
- If you’re looking to finance a car you haven’t bought yet, you can apply for a pre-approved loan.
- Interest rates on car loans are variable, which means they can go up or down.
- You can make additional repayments on your loan at any time without penalty.
The bottom line a BNZ car loan could help you get behind the wheel sooner than you think. Whether you’re buying your first car or upgrading to a newer model, we can tailor a loan to suit you.
Kiwi Bank Car Loans
Kiwi bank offers a range of different car loans to help New Zealanders finance their new or used car. With a Kiwi bank car loan, you can choose to make repayments weekly, fortnightly or monthly to suit your lifestyle and budget. You can also choose to make extra repayments at any time, without incurring any penalties, to help reduce the interest charged on your loan.
New Or Used Cars : With a Kiwi bank New or Used Car Loan you can borrow from $5,000 to $100,000, over 1 to 7 years. The interest rate you pay will depend on the amount you borrow, the term of your loan and your personal circumstances.
Fixed Or Flexible Interest Rates : You can choose to have either a fixed or a flexible interest rate on your Kiwi bank car loan. A fixed interest rate means your repayments will stay the same for the term of your loan, even if interest rates rise. A flexible interest rate means your repayments may go up or down if interest rates change, but you’ll have the opportunity to make extra repayments at any time without incurring penalties.
The current interest rate is 9.95% p.a. There are no monthly fees or early repayment fees with a Kiwibank car loan.
Kiwi bank offers a range of different car loans to help New Zealanders finance their new or used car. With a Kiwi bank car loan, you can choose to make repayments weekly, fortnightly or monthly to suit your lifestyle and budget. You can also choose to make extra repayments at any time, without incurring any penalties, to help reduce the interest charged on your loan. Whether you’re buying your first car or upgrading to a newer model, we can help make your dream car a reality.
ANZ bank car loans
ANZ car loans offer a number of features and benefits to help you finance your dream car. With a wide range of repayment options and the ability to make extra repayments, ANZ car loans could be the right choice for you.
- New or Used Car Loans : ANZ car loans are available for both new and used cars, with loan terms from one to seven years. You can also choose to make weekly, fortnightly or monthly repayments, and there are no penalties for early repayment.
- Interest rates : Interest rates on ANZ car loans start at 12.90% p.a. for new cars and 12.90% p.a. for used cars. Loan amounts start at $3,000 and there is no maximum loan amount, so you can borrow as much as you need to get the car you want.
- Applications : To apply for an ANZ car loan, you’ll need to be 18 years of age or over and have a good credit history. You’ll also need to provide proof of income and employment, as well as the details of the car you’re looking to purchase.
If you’re looking to finance a new or used car, ANZ car loans are a great option. We offer competitive interest rates and quick, easy loan approval. Plus, we can tailor a loan to suit your individual needs.
ASB bank car loans
ASB car loans offer a range of features and benefits to help you get behind the wheel of your dream car. With a wide range of repayment options and the ability to make extra repayments, ASB car loans could be the right choice for you.
- New or Used Car Loans : ASB car loans are available for both new and used cars, with loan terms from one to seven years. You can also choose to make weekly, fortnightly or monthly repayments, and there are no penalties for early repayment.
- Interest rates : Interest rates on ASB car loans start at 12.99% p.a. for new cars and 13.99% p.a. for used cars. Loan amounts start at $5,000 and there is no maximum loan amount, so you can borrow as much as you need to get the car you want.
- Applications : To apply for an ASB car loan, you’ll need to be 18 years of age or over and have a good credit history. You’ll also need to provide proof of income and employment, as well as the details of the car you’re looking to purchase.
If you’re looking to finance a new or used car, ASB Bank car loans are a great option. They offer competitive interest rates and quick, easy loan approval. Plus, they can tailor a loan to suit your individual needs.
Westpac bank car loans
When it comes to car loans, Westpac has a range of options to suit your needs. Whether you’re buying your first car or upgrading to a new one, they can help you get behind the wheel.
- New And Used : Westpac offers both new and used car loans, with loan terms from one to seven years. You can also choose to make weekly, fortnightly or monthly repayments, and there are no penalties for early repayment.
- Interest rates : Interest rates on Westpac car loans start at 13.90% p.a. for new cars and 13.90% p.a. for used cars. Loan amounts start at $5,000 and there is no maximum loan amount, so you can borrow as much as you need to get the car you want.
- Applications : To apply for a Westpac car loan, you’ll need to be 18 years of age or over and have a good credit history. You’ll also need to provide proof of income and employment, as well as the details of the car you’re looking to purchase.
If you’re looking to finance a new or used car, Westpac car loans are a great option. We offer competitive interest rates and quick, easy loan approval. Plus, we can tailor a loan to suit your individual needs.
Heartland bank car loans
Heartland Bank offers a range of car loans to suit your needs. Whether you’re buying your first car or upgrading to a new one, we can help. We offer low interest rates, no monthly fees and the ability to make extra repayments.
- New or Used Car Loans : Heartland Bank car loans are available for both new and used cars. Loan terms range from one to seven years, and you can make weekly, fortnightly or monthly repayments. There are no penalties for early repayment.
- Interest rates : Interest rates on Heartland Bank car loans start at 8.45% p.a. for new cars and 15.45% p.a. for used cars. Loan amounts start at $5,000 and there is no maximum loan amount, so you can borrow as much as you need to get the car you want.
- Applications : To apply for a Heartland Bank car loan, you’ll need to be 18 years of age or over and have a good credit history. You’ll also need to provide proof of income and employment, as well as the details of the car you’re looking to purchase.
Heartland Bank offers competitive interest rates and flexible repayment options to suit your needs. We can also tailor a loan to suit your individual circumstances. Plus, there are no monthly fees and you can make extra repayments.
Here are a few tips to help you get the best deal on your car loan from banks:
- Compare interest rates : When comparing loans, make sure you compare the interest rate rather than the monthly payment. The interest rate will have a bigger impact on the total cost of the loan.
- Consider a shorter loan : A shorter loan will have a lower interest rate and will save you money in the long run. If you can afford the higher monthly payments, a shorter loan is always the better option.
- Get pre-approved : Getting pre-approved for a loan gives you a much better chance of getting a great deal. Lenders are more likely to offer you a lower interest rate if you have been pre-approved.
- Keep your credit score high : Your credit score is one of the most important factors in getting a good interest rate. The higher your score, the better your chances of getting a low rate.
- Don’t buy more car than you can afford : It’s important to stay within your budget when choosing a car. Don’t let the salesperson pressure you into buying a more expensive car than you can afford.
- Make a large down payment : A large down payment will reduce the size of your loan and the interest you will have to pay. If you can afford it, a down payment of 20% or more is always best.
- Trade in your old car : If you have a car that you’re no longer using, you can trade it in towards the purchase of your new car. This will lower the amount of money you need to borrow and can potentially get you a lower interest rate.
- Get a cosigner : If you have a family member or friend with good credit, you can ask them to cosign your loan. This will help you get a lower interest rate and improve your chances of getting approved.
- Shop around for the best deal : There are a number of different lenders offering car loans at the moment. So, it’s worth doing your homework to find the best deal.
- Read the fine print : Be sure to read and understand the terms of your loan before you sign anything. This includes the interest rate, the repayment schedule, and any other fees and charges.
