Applying for a car loan in NZ is simple because lenders, from banks to financers, have switched to online platforms. Simply go to their website, make your application, and get your money fast. It’s become a convenient way to get car loans, and for lenders in New Zealand to connect with Kiwis. 

Because Kiwis and lenders are more and more active in the digital world, the Internet has become saturated with car loan deals; and if you’re thinking about applying for one you can get lost in a maze. One of the best ways in selecting a deal is to consider which providers have the lowest interest rates for car loans in NZ so that you can align your loan towards your circumstances. You can borrow as much as $500,000 and have an interest rate for as low as 6.5% for a secured loan!

Here are our top picks:

1. Simplify

Co-founded in 2015 by Scott Robertson and Glenn Wilson, Simplify provide the easiest ways to buy a car in NZ with their customer-focused and transparent approach. What they want is to make your purchase enjoyable using their convenient tools online. 

With security that serves as a guarantee, you can borrow anything from $5,000 to $500,000 for 12 to 60 months with an interest rate of 6.50% p.a. The interest rate is lower because the loan is secured; thus, the provider has a fallback just in case you fail to make repayments.

2. MTF Finance

MTF Finance is 100% Kiwi-owned and managed so they understand what Kiwis need when it comes to buying cars.

Their interest rate stretches from 8.45% to 20.45% per year and are fixed for the term of the loan because they want to provide enough flexibility on the amount that you borrowed and your individual needs. Their secured car loans have some of the lowest interest rates in NZ. 

3. The Heartland Bank

The Heartland Bank’s financial services to Kiwis go way back to 1875. While they pride themselves in their long years of service, they’re also proud of being Kiwi owned and managed. 

Their interest rate starts from 8.95% and 15.95% p.a. which you can choose to pay between 1 to five years. They provide secured low-interest car loans wherein the guarantee is the car you’ll purchase.

4. Avanti Finance

You can get fast approval with Avanti Finance - this works best when you’re in a hurry to get a car loan. They also have a pre-approval process so that you can act fast.

Avanti Finance has low-interest loans, including secured car loans that have only 9.95% - 21.95% per annum which you can pay over a time frame that suits you.

5. NZ Vehicle Finance

NZ Vehicle Finance is one of the best car finance companies in the Waikato and has helped thousands of Kiwis through flexible terms. 

There’s a fixed annual interest rate of 12.95% and a minimum of 12 months to make repayments. Their repayment scheme is suited to each individual lifestyle, enabling you to become flexible. 

Lowest interest rates for car loans

Selecting the right car loan is easy as long as you know what you’re searching for. Looking for the lowest interest rates for car loans in NZ is one way to narrow down your options. 

With glimp, you can also get access to the lowest rates and to exclusive deals. If you’re interested in buying a car soon, head on to our car loans calculator to see the lowest interest rates from various providers.