What factors determine the interest rate when financing a new car?

The interest rate for car finance can vary depending on several factors. Firstly, your credit history plays a crucial role; a higher credit score may qualify you for a lower interest rate. Secondly, the amount of deposit you can provide upfront will also influence the rate. Additional factors include the type of vehicle you are financing (e.g., quality used vehicles vs. new models) and the overall loan amount. We may also consider the term of the loan and any applicable establishment fees, when determining your interest rate.

Is it better to make a larger down payment on a used car?

Interest rates for financing a used car with Crester Credit would depend on factors like your credit score, the age of the car, loan term, and current market rates.We may offer lower interest rates for borrowers with a strong payment history with us.

What is the process to apply for finance with us for a used car in NZ?

The process to apply for finance with us for a used car in NZ is designed to be straightforward and efficient. First, you will need to fill out an online application form, providing details about your financial situation and the vehicle you are interested in. Once submitted, our team will review your application and assess your eligibility based on our lending criteria. If approved, you will receive an offer of finance which includes the interest rate and terms of the loan.

Used Car Finance NZ Wide

Used car finance is our specialty. If you have found the perfect second hand car and want to negotiate with cash, apply & get pre-approved fast within 24 hours. Borrow $5000 through to $30,000 +. NZ second hand car loans from Crester Credit can be applied for with an easy 6 minute online application. We are responsible lenders & offer tailored, competitive, low-interest rate vehicle loans and personal loans to help Kiwis get ahead.

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We make it easy for you

We offer flexible second hand car finance NZ-wide & your repayment terms are great too. Start by using our online used car finance calculator to work out your repayments on the value you’d like to borrow. It’s easy.

We look beyond your income

We prefer to look at the security you have rather than your income when applying for car finance. The car itself can be used as security. We’ll run a credit check, but the more security you provide, the easier to lend.

We give you better interest rates

Why pay more through other car finance companies? Our offering holds up against any of the ‘big players’, ANZ, AA, Westpac, ASB, Go Car Finance, etc. For full disclosure of our fees, visit our terms and fees page.

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Second Hand Car Loan Calculator

Use our New Zealand second hand car finance calculator to determine the repayments you can afford and how much you should borrow. Usually, you’ll make a deposit on the item you wish to buy, which acts as security, and we then spread the rest across 48 months.

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

Apply now

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

Rates

With Crester, you can repay your loan over a term of up to 48 months, with flexible weekly or monthly repayments to suit your budget. Our interest rates range from 13.95% to 26.98% p.a., depending on factors like your credit profile, loan purpose, and selected term. For a full breakdown including early repayment options, default interest, and establishment fees, please refer to our Rates and Fees page.

Terms

Before applying with Crester, please take a moment to review our terms and conditions. When you apply, you’re agreeing to let us collect and securely store your personal details. We aim to ensure all information on our site is current and accurate. If anything seems off, get in touch in writing and we’ll work to correct it. Crester follows New Zealand’s Responsible Lending Code.

Fees

Your personal data is protected with end-to-end encryption on all Crester web forms, ensuring your details remain secure throughout the loan process. We manage all client information with strict confidentiality, using robust security measures to guard against unauthorised access. Crester also complies fully with New Zealand’s privacy laws. For more information, see our Privacy Policy.

Used vehicle finance of any type

Our vehicle finance applies to people wanting used work vehicles, used vans, trucks, motorbikes, camper vans, boats and more. We also lend on new motor vehicles, and that value is determined via an auto check with Veda Advantage Auto-Search.

All vehicles must be fully insured, or insurance must be prearranged before we can approve your loan. In some cases, we can even offer no deposit, secured vehicle finance term for existing customers who have a strong weekly repayment history with us. It’s not essential, but it helps if you can secure your new car against a home. Lending criteria applies. Whether you’re in Auckland, Christchurch, Wellington or anywhere in between – we can help.

How to buy a car with car finance in NZ

When buying a car, remember to anticipate all your costs – fuel, warrant of fitness, registration, maintenance and repairs.
You can always arrange your car finance in advance – this way, you can shop and browse cars for sale with the confidence of knowing how much you can spend. This saves time and hassle when closing the deal.
Ask the owner to see the current registration of the car to ensure the ownership and registration is paid up to date – this is the current owner’s responsibility.
Consider an extended warranty on your car – if you plan to keep it a while, it could be worth getting a little extra on your car loan for an extended warranty (also known as a service contract) in case any unexpected repairs crop up. Chat to the car dealer about your options.
Check Car Jam for the car you’re interested in buying. Enter a vehicle’s plate number to see odometer readings, market valuation and plate history.

Handy Tips

If you’re a New Zealand resident spiralling out of control with debt, you can grab control with debt consolidation. Learn more
Learn how to improve your credit score, starting now! Learn more
How to buy a second hand car safely. Learn more
When inspecting a second hand car, get a compression test from a mechanic so you know the engine is in a good condition.
Use our car loan calculator to check what your repayments might be. Learn more

APPLY NOW & YOU CAN BE APPROVED BY

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APPLY NOW

Our online application form takes only six-eight minutes to complete, subject to approval in accordance with the responsible lending code of New Zealand. 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

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We respond to our clients seeking pre-approval on finance to buy a car, almost immediately. In the meantime, please review our commonly asked Q&A’s about finance rates, establishment fees, annual interest rates, early settlements, the responsible lending code of New Zealand, and the application process. We’re here to help with everything car finance related.

FAQ

Frequently Asked Questions

The interest rate for car finance can vary depending on several factors. Firstly, your credit history plays a crucial role; a higher credit score may qualify you for a lower interest rate. Secondly, the amount of deposit you can provide upfront will also influence the rate. Additional factors include the type of vehicle you are financing (e.g., quality used vehicles vs. new models) and the overall loan amount. We may also consider the term of the loan and any applicable establishment fees, when determining your interest rate.
Interest rates for financing a used car with Crester Credit would depend on factors like your credit score, the age of the car, loan term, and current market rates.We may offer lower interest rates for borrowers with a strong payment history with us.
The process to apply for finance with us for a used car in NZ is designed to be straightforward and efficient. First, you will need to fill out an online application form, providing details about your financial situation and the vehicle you are interested in. Once submitted, our team will review your application and assess your eligibility based on our lending criteria. If approved, you will receive an offer of finance which includes the interest rate and terms of the loan.