Compare the total amount repayable across the full term, not just the monthly payment — PCP balloon payments and optional final payments can make headline costs misleading.
20 live car finance offers tracked across 20 New Zealand providers, with APRs from 4.90%. Data current as of 1 November 2026 and updated daily from the Giraffy database.
20 live offers compared from 20 providers, from 4.90% APR. Updated daily.
4.90% APR
ANZ Auto NZ Car Finance is a car finance offer from ANZ Auto NZ. Key details — Representative APR: 4.9%; Loan Term: Up to 84 months; Max Loan Amount: NZD 100,000; Key Feature: Online application.
5.50% APR
5.90% APR
6.50% APR
6.90% APR
7.50% APR
7.90% APR
8.90% APR
9.50% APR
9.90% APR
NZ$9.95 % p.a.
10.90% APR
11.90% APR
12.90% APR
NZ$13.90 % p.a.
NZ$13.90 % p.a.
13.90% APR
NZ$14.65 % p.a.
14.90% APR
NZ$14.99 % p.a.
Car finance is borrowing to buy a vehicle, repaid in regular instalments over a term, usually one to five years. New Zealanders use it to buy new and used cars — including the many Japanese imports that fill the local used market — through bank car loans, dealer finance and specialist vehicle lenders. The loan is typically secured against the car, meaning the lender can repossess it if you default, which usually earns a lower rate than an unsecured personal loan. Choosing wisely can save significant interest over the life of the loan.
Car finance comes from three main sources: banks (ANZ, ASB, BNZ, Westpac and others) offering secured car loans; specialist and non-bank lenders such as Heartland Bank and Latitude that focus on vehicle and consumer finance; and dealer finance arranged at the point of sale, sometimes under manufacturer-badged programmes. Rates are risk-based and depend on the car's age, the loan amount, term and your credit profile. Dealer finance is convenient but not always the cheapest, so comparing against a bank or direct lender pays off.
Drive sooner — Finance lets you buy the car now and spread the cost rather than saving the full amount first.
Lower secured rates — Because the loan is secured against the vehicle, rates are typically lower than unsecured borrowing.
Fixed budgeting — Regular fixed instalments make the cost predictable over the loan term.
Flexible sourcing — Choose between bank, specialist lender or dealer finance to find the best deal.
Compare the interest rate and total cost across banks, specialist lenders and dealer offers — the convenient dealer rate isn't always the cheapest once fees and add-ons are counted. Watch for establishment fees, and be cautious of add-on products like payment-protection insurance or extended warranties bundled into the loan, which inflate the amount you borrow and pay interest on. Choose a term that keeps repayments affordable without stretching so long that you owe more than the car is worth. Get pre-approved with a bank to negotiate from strength at the dealer.
Heartland Bank is a specialist in vehicle and asset finance and a prominent name in car lending. The major banks — ASB, BNZ, ANZ and Westpac — offer secured car loans, often at competitive rates for existing customers. Latitude is a significant consumer-finance lender active in car finance, and manufacturer-badged and dealer finance programmes are widely available at the point of sale. Advertised rates in the market range from around 4.9% for the sharpest secured deals up to roughly 15% for higher-risk or non-bank lending.
Interest is the main cost, and rates in New Zealand span roughly 4.9% at the competitive secured end up to around 15% for higher-risk borrowers or non-bank finance. The rate depends on the vehicle's age, the loan size and term, and your credit profile — newer cars and stronger borrowers get the best rates. Establishment fees and any bundled insurance or warranty add-ons increase the total cost, so scrutinise them. A larger deposit and shorter term reduce total interest but raise the monthly repayment.
Car finance is regulated under the Credit Contracts and Consumer Finance Act (CCCFA), overseen by the Commerce Commission, which requires responsible lending, clear disclosure of the rate, fees and total repayable, and fair hardship treatment. Lenders must be registered financial service providers and belong to a dispute-resolution scheme. Because most car loans are secured, the Personal Property Securities Register records the lender's interest in the vehicle. The Fair Trading Act also prohibits misleading finance advertising, including at dealerships.
Is dealer finance the cheapest? — Not always; it's convenient, but comparing a bank or specialist lender often reveals a lower total cost.
Should I get pre-approved? — Yes; bank pre-approval sets your budget and gives you leverage to negotiate the car price and finance at the dealer.
What happens if I can't pay? — Because the loan is secured, the lender can repossess the car, but under the CCCFA you can seek a hardship arrangement first.
Giraffy tracks 20 car finance products across 20 lenders in New Zealand. Compare by APR to find the most cost-effective way to finance your vehicle.
Common vehicle finance types include hire purchase (you own the car at the end), personal loans (borrow the cash outright), dealer finance, and leasing (no ownership). Compare total cost of credit — not just monthly payments — to find the most affordable option.
Most mainstream lenders require a fair to good credit score. Specialist lenders offer car finance to those with poor or limited credit history, but typically at higher APRs. Check your eligibility using a soft-search tool before applying to avoid unnecessary hard searches on your credit file.
Yes — specialist lenders offer car finance to borrowers with a poor credit history, but at higher interest rates. A larger deposit reduces risk for the lender and may secure you a better rate. Improving your credit score before applying is the most cost-effective long-term approach.
Watch for origination fees, documentation fees, prepayment penalties, and GAP insurance charges. These can add significantly to the total cost of a car finance deal. Always compare total cost of credit — not just the monthly payment or headline APR.
Dealer car finance is convenient but not always the cheapest — dealers often earn commission on the finance package. Comparing independent lenders via Giraffy before visiting a showroom gives you a benchmark rate. Arriving with pre-approved car finance puts you in a stronger negotiating position.
Early settlement typically involves paying the outstanding capital plus a settlement fee (usually 1–2 months' interest). Check the specific early repayment terms in your agreement before settling early.