Is there outstanding finance secured against the vehicle?

Purchasing a vehicle which has outstanding finance can be both costly and troublesome going forward. It is vital that you take a professional approach to buying a second-hand truck, following the lead of dealerships in check standing outstanding finance as a matter of self-preservation. Don’t get caught out by this simple error!

Do I need additional security for truck finance?

With typical loans for trucks, you would need to put down a deposit when purchasing the vehicle and lodge this as security against the loan, with the vehicle. In certain circumstances, additional security could help to secure finance or reduce the overall cost. We can provide you with guidance regarding security and the options available in your circumstances.

Buy A Truck on Finance

Help for buying a second-hand truck on finance is a Crester specialty. It’s best to pre-approve and apply online for your loan so you can negotiate as a cash buyer. New Zealand Truck loans typically range from NZ$30,000 to in excess of NZ$100,000 for larger commercial trucks and if you choose Crester as your finance partner, we take the time to understand your needs and to make the process easy.

Customised truck finance

Rather than taking a one size fits all approach, we provide finance solutions that are tailored to your specific vehicle needs. Check out our online loan amount calculator to work out repayment terms and affordability.

Challenging credit history?

When lending for a heavy vehicle on finance, we look at the broader picture, security available, income and duration as some of our flexible lending criteria. Working with you, we can help to overcome challenging credit ratings & affordable finance.

Fast, affordable loan terms

As a responsible lender, we are committed to providing affordable finance with interest rates between 13.95% and 26.98%. Funding is dependent on circumstances, credit history and the level of security available.

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Truck Loan Calculator

Compare repayment terms with our New Zealand finance calculator – see how much you can borrow. Typically, the purchase of a truck will include a deposit, which also acts as security, with loan repayments normally spread anywhere up to 48 months. Our individual approach to truck finance provides affordable rates and offer flexible repayment terms.

I want to borrow:

I can afford to repay (per week):

$30 per week

Our maximum loan term is 3 years so your repayments on a $6650 loan must be $70 (or more) per week

Takes only 4 mins

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* This is an approximate loan duration based on assumed adequate security and collateral, job security, income, residence situation and positive references.

Truck Finance NZ

Kiwis acquiring a second-hand truck on finance should take the time to protect themselves so they avoid getting a lemon 🍋.
Keep reading, we’ve got plenty of tips.

While commercial trucks are obviously built to last just as any heavy-duty machinery, it is important to carry out a full check of the truck, including the physical appearance, service history and any finance outstanding on the vehicle. This is referred to as an encumbrance in the finance world. You can go online to order a report, or Crester can do on your behalf when you apply.

While obvious, it is vital to research the value of a new truck, consider the significant depreciation on-purchase, against a well-maintained second hand truck. Post-pandemic, we’re finding second-hand vehicles are appreciating in price, but be careful to get an engine compression test and diagnostics from a professional mechanic that you trust. A history of information of regular repairs and maintenance is key.

What is the maximum available amount for truck finance in NZ?

While we strive to provide affordable finance options to new and existing customers, the maximum truck loans available will be dependent on security and income. Traditionally, we are able to provide heavy vehicle finance up to a maximum NZ$100,000 although there is a degree of flexibility dependent on circumstances. As a responsible lender, we will do our best to find an affordable solution to your finance needs.

Crester Credit loans are fixed, which gives you a degree of certainty and visibility going forward. Dependent on circumstances, the interest rate on financing trucks will be between 13.95% and 26.98%. The typical loan duration tends to be around three years, although this can be extended to 4 years and beyond in certain circumstances, it is important that you dig into our terms and conditions to have a good understanding of the loans. If you wish to finance a fleet or are looking for multiple commercial vehicle finance for your business needs, then please call us for more information and to arrange an appointment.

Buying a new or second-hand truck

When you consider that the purchase of a new or second-hand truck could cost in excess of NZ$100,000, it is important to proceed with caution. While the servicing and maintenance records of any vehicle are important, they are even more essential for commercial vehicles. You also need to consider the cost of repairs and maintenance going forward, and factor these into your budget.

Thankfully, there are various simple checks you can carry out to confirm ownership and the level of maintenance carried out on any vehicle. Pre-purchase checks should go well beyond just the physical look of the vehicle, which can sometimes hide an array of practical issues. If you lack the desired level of expertise, consider taking a professional to give the vehicle the once over.

Handy tips

Compare and contrast truck prices

It is important to compare and contrast the price of new trucks and second-hand vehicles before securing truck finance. The Internet offers the perfect means of comparing and contrasting prices, allowing you to secure the best value and the best overall package. While appreciative of value, you need to work within your financial constraints to suit your cash flow.

Check that the truck paperwork is in order

Unfortunately, many individuals have fallen into the trap of just assuming that all of the relevant paperwork is in order. You need to check service dates, outstanding exercise duty, vehicle specification, mileage and the description on the vehicle documents. On the verge of a significant investment, assume nothing!

Interest rates on loans for trucks

As we touched on above, we provide a range of interest rates from 13.95% to 26.98%, dependent on circumstances, loan duration and level of finance required. While our typical loan tends to be around three years in duration, this is flexible to above and beyond 48 months. We are mindful of the need for responsible lending, but will do our best to accommodate your circumstances.

Checking service and maintenance records

It is easy to be blinded by the look and the first impression of a well-kept second-hand truck and especially a brand-new one. When it comes to second hand trucks, that well-kept exterior could be hiding a raft of existing and potential mechanical issues. Therefore, it is crucial that you check the service and maintenance records, which parts have been repaired and changed and, as importantly, which haven’t.

Don’t forget to take the vehicle for a test drive!

With truck loans up to and potentially in excess of NZ$100,000, you need to take the vehicle for a test drive before signing on the dotted line! As a short test drive around the block can potentially hide an array of issues, make sure you have the chance to open up the engine, put your foot down and give it a real test.

Remember to consider all associated costs

As opposed to simply buying the truck to drive, you are purchasing an investment and you need to maintain the asset going forward. Consequently, you will need to take into account running costs, regular repairs and maintenance as well as insurance. You might need to add a tow bar to hitch a trailer, or a bull-bar to add safety whilst driving. If you are looking for a truck and trailer combination, we have trailer loans available as easy options. Skipping regular services may save you a few dollars, but it could cost you a whole lot more, further down the line!

Frequently Asked Questions

Purchasing a vehicle which has outstanding finance can be both costly and troublesome going forward. It is vital that you take a professional approach to buying a second-hand truck, following the lead of dealerships in check standing outstanding finance as a matter of self-preservation. Don’t get caught out by this simple error!
With typical loans for trucks, you would need to put down a deposit when purchasing the vehicle and lodge this as security against the loan, with the vehicle. In certain circumstances, additional security could help to secure finance or reduce the overall cost. We can provide you with guidance regarding security and the options available in your circumstances.

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APPLY NOW

Our online application form takes only six-eight minutes to complete. Start by filling this in, and if you’d like to talk with one of our loan officers, please make a note of it in the application.

Vehicle Finance Questions? Ask Our lending team

Jeanette

Karen

Skye

Peter

Laura

Where clients are looking for preapproval of truck loans, we typically respond almost immediately. However, it is important to make yourself aware of the various terms and conditions when taking out finance. Our commonly asked questions page covers everything from interest rates to early settlement, responsible lending to our fee structure and more. We are here to help with all things related to loans for trucks.

FAQ