If you’re living in New Zealand on a work or resident visa and looking to apply for a vehicle or personal loan, you’re not alone. At Lending Room, many of our customers come from overseas, especially the Philippines. We understand the unique financial challenges that come with living and working in a new country and we’re here to help make the process simple and stress free.
Can You Get a Loan on a Visa?
Yes, depending on your visa type, you may still be eligible for a vehicle or personal loan. While not all lenders offer finance to visa holders, many do, and Lending Room works with a range of trusted lenders to help connect you with the right one. The key thing to remember is that lenders assess risk differently for visa holders, especially if you haven’t had time to build up a New Zealand credit history. Instead of relying solely on your credit score, lenders will look at things like your visa type and how much time is left before it expires, your employment status and income, and your spending habits.
Important Things To Keep In Mind When Applying
1. Your Visa Expiry Date Matters
Lenders want to know you’ll still be in New Zealand when the loan term ends. To apply through Lending Room, you must have at least 13 months remaining on your current work visa. This gives lenders more confidence when assessing your application.
2. Not All Visas Are Eligible
Lending Room is unable to assist customers who are on student visas or working holiday visas. If you’re on a Work Visa, Resident Visa or Permanent Resident Visa, you may be eligible and we’re happy to help.
3. Overseas Transfers Can Affect Your Application
One of the biggest challenges we see with visa holders is the amount of money regularly sent back home. Lenders treat these transfers as ongoing financial commitments which can reduce your borrowing power.
Tip: If you’re able to, try to reduce the size or frequency of these transfers for a period of time before applying. This can significantly improve your affordability in the eyes of the lender.
4. Keep Your Finances in Good Shape
Avoid missed payments, buy now pay later debt or bouncing transactions. These things matter to lenders when reviewing your bank statements and financial behaviour.
5. Don’t Apply with Multiple Providers at OnceEach time a lender checks your credit, it leaves a mark. Too many applications at once can hurt your credit score and reduce your chances of approval.
Tip: Use a broker like Lending Room to find the right match without applying multiple times.
What Types of Loans Are Available for Visa Holders?
Through our lending partners, eligible visa holders may be able to access:
Car Loans: Ideal if you need a reliable vehicle to get around NZ
Secured Personal Loans: Use a car or asset as security to potentially access better rates
Unsecured Personal Loans: No collateral required, though criteria may be stricter
Debt Consolidation Loans: Combine existing debt into one simpler repayment
Emergency Loans: Cover urgent costs like medical bills, car repairs or bond payments
Lending Room’s Requirements
To apply through Lending Room, you’ll need to meet the following:
- You are 18 years or older
- You earn at least $600 per week (paid into your own NZ bank account)
- You are a NZ Citizen, Resident or hold a valid Work Visa with at least 13 months remaining
- You hold a valid form of Photo ID
Final Thought
Moving to New Zealand and setting up your life here is a big step. Having the right vehicle or financial support can help you feel more settled. At Lending Room, we’ve helped hundreds of visa holders, especially from the Filipino community, find the right loan through trusted lenders. We’re not a lender. We’re a loan broker, which means we do the shopping around for you and connect you with the best lending partner based on your situation.
Ready to apply or have questions? Get in touch with our friendly team today. We’re always happy to help.
