Looking for a car loan?

Compare car loan rates and save

Compare Loan Rates

Find a car loan for your needs in minutes.

Compare Car Loans

Picking the best car loan: secured vs. unsecured loans. Fluctuating and fixed interest rates: which one to pick?

The car loan remains the most common vehicle purchase solution in New Zealand. Hardly a marvel, since not many people have sufficient savings to afford a new car off the bat. That only goes to prove that the car loan offer is rich and, albeit not always optimum, still more preferable to other payment methods.

Compare car finance solutions and interest rates now!

Regardless of your car of choice - new or used, one way or another, you will be able to qualify for some type of loan. Car loans broadly fall into two categories: secured and unsecured. Secured loans protect the lender against the case of debtor defaulting and have lower interest rates. Unsecured loans, on the other hand, have higher interest rates, but are asset-free. Qualifying for an unsecured car loan is, as you might have guessed, way more difficult than the other way around. 

Both loan types can come with variable or fixed rates - the first being lower and the latter - higher. As for variable rates, they can go both up and down. It is ungrateful to speculate which is more likely, as the fluctuation depends on various factors and the specific lender.

Last but not least, new car loans have lower interest rates than used car loans, but that isn't to say buying a new cars is a better option. Keep in mind that car values go down as time passes, making them cheaper than at the time you applied for your loan.  

Qualifying for a cheap car loan: what are the options?

Obtaining a cheap car loan is not a myth. To find the best choice for you, you will need to calculate your monthly budget and do in-depth research. The task may be tiresome but is certain to pay off in the long run. You should also be aware of the fact that a new car does not necessarily need to be purchased with the help of a car loan. Applying for a low- or no interest loan through a family member is also a viable option in some cases.

Compare interest rates and loan types at Glimp!  

Apart from banks, you can also apply for a loan through finance institutions and credit unions. Banks offering car loans are ASB, Kiwibank, Co-operative Bank, and Westpac. Credit unions offering car loans are First CU, Police CU, and NZCU Baywide. Paraloan provides low-rate car loans for people with physical disabilities and MAS is there for medical professionals. Finance Companies offering car loans are AA Finance, Avanti Finance, Christian Savings, Finance Direct, Finance Now, Financepoint, Financial Holdings, Gem, I Finance, MARAC, MTF, NZ Loan, NZ Vehicle Finance, and Stadium Finance, to name the best known ones.

All of them offer car loan support on a regular basis, so make sure to contact them with any inquiries you might have.  

Vehicle loan paperwork: mastering the requirements. Financing a car using the bank. 

Nobody likes paperwork and that's a given. When it comes to your vehicle loan, things get simpler merely because nearly all lenders allow for online applications. Deposits, documentation, warranties can all be submitted online, so no time wasted waiting in queues. The decision on your loan is also to be expected shortly. Replies can take anywhere from several hours to a couple of days. 

To apply for any car loan, you will first need to prove you are the person you claim to be. Your passport or driver's license are usually sufficient in that regard, but sometimes the lender may ask for additional documentation. Car details, including dealer info, engine number, and registration also need be submitted. As for other requirements, they vary depending on the loan type. For unsecured loans, most lenders will require your  credit history records and copies of bank statements. 

On top of car loans, banks offer other options when it comes to purchasing a car. Overdraft is one of them. Overdraft interest rates are higher than car loans', but the establishment fees are considerably lower. The greatest benefit with this type of payment is that you get to pay the loan off as fast as you like. The sooner you do it, the more money you will save. 

Around-the-clock  car loan support is available through Glimp. Contact us today with any questions you might have!

Extending your mortgage can oft prove more beneficial than applying for a car loan. This move allows for repaying the car at the mortgage interest rate, which is considerably lower than any car loan interest rate. The catch is that repayments can get extended depending on your circumstances, multiplying the fees in the process.

Using a low interest credit card to finance the purchase of a new car is another beneficial alternative. If you transfer the balance, you will get a new introductory rate - e.g. 2.99% for the next twelve months. If you transfer the remaining balance to a new bank afterwards, you can easily end up paying off the debt at below market rates.

As always, an in-depth calculation beforehand will make the decision easier in more ways than one. Make sure to double-check your monthly budget and never lose sight of the big picture. Get your car loan support here and now. Contact us for assistance at any time!

Steps for getting the best car loan out there.

Having familiarized yourself with the alternatives, you should be ready to pick the best car loan to suit your particular needs. 


  • Define your monthly budget;

  • Double-check the solutions deemed suitable;

  • Single out the most beneficial option; 

  • Read the fine print;

  • Get the car keys!

The riskier you are to an insurer, the higher the cost of your car insurance premium. If you can prove you are low risk by being accident free and having secure parking for your car, you will save more.

Why compare with glimp?

We save you time & money

We are here to save you time & money by finding you the best deal as easily and as quickly as possible.

A great place to compare

New car loan site in NZ. Thousands of Kiwis have trusted us with their decisions.

Free to Use

glimp is 100% free! Whether you want to compare or get a better car loan, you pay nothing.

They talk about us

Mentioned by various news outlets, such as stuff, nzherald, Solarcity, Truenet, nbr and many more.

What our customers are saying:

Latest Articles from glimp

Sep 24, 2019

Everything you need to know about overseas...

One thing that can make an overseas trip super expensive is overseas card charges. Learn everything you need to know about them...


Sep 24, 2019

Handy tips on car insurance for young...

Want to find out how you can reduce the cost of car insurance as a young driver? Here’s a few handy tips...


Sep 24, 2019

Consequences of a late credit card payment

Failing to pay off the credit card bill can lead to bad consequences. Here, you can find out exactly what happens when...


Sep 04, 2019

A Guide to Renting a Car

Renting a car can make any holiday more convenient. You can use this guide to help you through the entire process of...


Find a better car loan rate

Don't put it off any longer.

Google rating 3d550da73015d4619d871361ff35a16af6f9290008b572d3db617236fd96fcb5 +