Can you refinance a car loan in NZ to get a better rate?
28 April 2026
Stuck on a high car loan rate? Refinancing could lower your repayments without having to sell the car.
Rated 4.9 out of 5 on Trustpilot by 1,060+ Kiwis. Apply once through Lending Room and we match you to the specialist vehicle lender on our panel most likely to offer you the best overall car loan deal across rate, terms and fees.
Most applicants hear back the same business day. Not sure you qualify? Check here →
We run a soft credit check during our assessment. This does not affect your score. Once matched, some lenders accept our check while others may run their own. "Best deal" means rate, term, fees and fit, not just the lowest headline rate.
Dealer finance
1 lender
their in-house lender only
Lending Room
20+ lenders
matched to the right one for you
One soft credit check. No score impact. No obligation to proceed.
We are an independent NZ car finance broker on your side. We match you to the right lender from our panel and bring the best overall deal to you.
Applying direct with five lenders means five hard credit checks, each one lowering your score before you have borrowed a cent. Our single soft check lets you access our full panel without any impact on your file.
Our panel includes banks, non-bank lenders and specialist vehicle finance providers not available directly to consumers. We match you to the one most likely to offer the best overall deal for your situation.
One short form. Tell us the vehicle you want and your basic situation. We handle the matching and the follow-up. You wait for your options.
Car loan rates in NZ range from 8.99% to 29.95% p.a. (AIR). The rate you receive depends on your credit profile, loan amount, term and lender. That is exactly why being matched to the right lender matters.
We match you to the most favourable overall car loan package for your situation, not just the lowest headline rate. That means rate, term, fees, repayment structure and lender fit. We walk you through the full cost of any offer before you commit. No obligation at any stage.
Get My Car Loan DealFrom a family SUV to a classic car, we match you to the right NZ vehicle finance lender for your specific purchase.
Finance a brand new vehicle from a licensed NZ dealer. Competitive car finance rates and flexible terms from 6 to 84 months.
Buying from a dealer or private seller. We work with lenders who accept both. Vehicle age and condition may affect lender availability.
Finance a new or used EV through our panel. We work with lenders who accept electric and hybrid vehicles including imported EVs.
Finance your campervan or motorhome purchase. New and used accepted. Lender criteria may vary based on age and build type.
Finance a new or used motorcycle or scooter. We match you to lenders who accept two-wheeled vehicles at competitive rates.
Finance a classic or vintage vehicle. Lender availability depends on age, condition and valuation. Apply and our team will confirm what is possible.
Finance new or used boats, jetskis, trailers and motors. Dealer and private sales accepted.
View boat and jetski loans →Apply once and our team will confirm which vehicle finance lenders on our panel can help with your specific purchase.
One application. One soft credit check. No obligation to proceed.
One short form. We handle the lender matching and the follow-up. You wait for your options.
Takes about 5 minutes. Tell us your loan amount, the vehicle you want and your basic situation. Just the once.
We run a soft credit check and match you to the car finance lender on our panel most likely to offer the best overall deal across rate, terms and fees.
Our team contacts you with your car finance approval and walks you through the full offer. Once you are happy, settle your loan and pick up your vehicle. No obligation at any stage.
Ready to get started?
One form. We match you to the right lender. You choose the deal.
Understanding the difference between dealer finance and independent car finance can save you thousands over the life of your loan.
Arranged through the car dealership at point of sale
Independent NZ car finance broker. We work for you, not the lender
Dealer car finance arrangements vary. Always compare your vehicle finance options before committing to any loan.
Use our car loan calculator to estimate your repayments. Actual rates and fees depend on your profile and the lender. Get your actual rate in 5 minutes.
Calculator is a guide only. Actual car loan rates, fees and repayments depend on your profile and lender criteria. Rates from 8.99% to 29.95% p.a. (AIR). Broker fee of up to $1,500 applies on successful funding.
We help employed New Zealanders with a good credit history get better car finance deals from our panel of specialist vehicle lenders.
You are employed
Full-time, part-time or self-employed with verifiable NZ-based income.
NZ citizen, resident or eligible visa holder
Open and employer-specific work visas with at least 13 months remaining.
Vehicle finance between $3,000 and $250,000
Car finance terms from 6 to 84 months.
Vehicle meets lender requirements
Age, condition and vehicle type may affect which car finance lenders are available. Our team will confirm this when we review your application.
What to have ready
Having these on hand speeds up your car finance assessment.
Your NZ driver licence or passport
3 months of bank statements
Details of the vehicle you want to buy
Listing or dealer quote if available
Details of any existing loans or debts
Many NZ lenders decline visa holders outright. We work with lenders on our panel who specifically cater for employed visa holders with stable NZ income and a good credit history. If your visa has at least 13 months remaining, it is worth checking your options.
Stuck on a high car loan rate? Refinancing could lower your repayments without having to sell the car.
You have found the car. The price is right. The only problem is that you do not have a deposit
Most Kiwis walk into a dealership without knowing what they can borrow. Here is how to fix that.
Common questions about car loans and vehicle finance in NZ.
Can't find what you're looking for? Contact our team
Car loan rates in NZ range from 8.99% to 29.95% p.a. (AIR). The rate you receive depends on your credit history, income, loan amount, vehicle type and term. We match you to the most suitable specialist vehicle lender from a panel of 20+ NZ lenders for your best overall deal. Establishment fee up to $450 and broker fee up to $1,500 may apply.
Apply through an independent car loan broker like Lending Room. We run one soft credit check during our assessment which does not appear on your credit file or affect your score, no matter how many lenders we approach on your behalf. This lets you compare options across our full panel without the multiple hard checks that come with applying direct.
Car finance and car loans refer to the same thing in New Zealand. Both involve borrowing money to purchase a vehicle and repaying it in regular instalments over an agreed term with interest. The terms are used interchangeably across NZ lenders, brokers and dealerships.
Yes. We work with NZ lenders who accept both dealer and private sale used vehicles. The age and condition of the vehicle may affect which car loan lenders are available to you. Vehicles between $3,000 and $250,000 can be financed across loan terms of 6 to 84 months.
Applying through Lending Room does not affect your credit score. We run a soft credit check during our assessment which does not appear on your credit file. Once we match you to a lender, some lenders accept our soft check while others may run their own as part of their process. You will be informed before any hard check is submitted.
Yes, in some cases. Pre-approval gives you a clearer budget before you start shopping. You can walk into a dealership knowing exactly what you can spend and avoid being pressured into dealer finance on the spot. Ask our team about pre-approval when we call you with your options.
The minimum car loan amount through Lending Room is $3,000 and the maximum is $250,000, depending on the lender and your circumstances. Car loan terms range from 6 to 84 months.
Most applicants hear back the same business day they apply. Same-day funding is possible for applications approved before 12pm on business days, depending on the lender and verification requirements.
A broker and introducer fee of up to $1,500 applies when your car loan is successfully funded. This fee is GST inclusive and is added to your loan amount. It is disclosed clearly before you commit, with no obligation to proceed. Lender establishment fees up to $450 may also apply depending on the lender.
Rated 4.9 out of 5 on Trustpilot · based on 1,060+ reviews from New Zealanders
Car loan rates in NZ range from 8.99% p.a. to 29.95% p.a. The rate you are offered depends on several factors including your credit history, income stability, employment type, the age and type of vehicle and whether the car loan is secured or unsecured. No two borrowers get the same rate, which is why being matched to the right lender for your profile makes a real difference.
Secured car finance uses the vehicle as collateral. This gives the lender more security and typically results in a lower rate. Unsecured vehicle finance carries more risk for the lender and usually attracts a higher rate. Most car loans in NZ are secured, meaning the lender holds an interest in the vehicle until the loan is repaid in full.
A low car loan rate can be offset by high establishment fees. Always compare the total repayable amount across your options, not just the rate. Our team walks you through the full cost of any offer before you commit to anything.
Stretching your car loan over a longer term reduces your monthly repayment but significantly increases the total interest you pay. On a $20,000 car loan at 12.95% p.a., choosing a 72-month term over a 36-month term adds thousands of dollars in interest over the life of the loan. Use the car loan calculator on this page to compare total repayment across different terms before you decide.
If you can comfortably afford a higher monthly repayment, a shorter car loan term will almost always save you money overall. The calculator on this page makes it easy to see the difference.
Before settling on any used vehicle, search the Personal Property Securities Register (PPSR) at ppsr.govt.nz to confirm there is no existing finance or debt registered against it. If you buy a car with undisclosed finance you can inherit the previous owner's debt. A PPSR search costs a few dollars and takes minutes.
A Vehicle Inspection New Zealand (VINZ) or AA inspection gives you an independent assessment of the vehicle's condition before you commit to any car loan arrangement. For private sales in particular, this step can save you from expensive mechanical problems that are not visible at a viewing.
Factor in the full cost of ownership before you arrange car finance. Registration, warrant of fitness, insurance, fuel costs and servicing all add to what a vehicle actually costs each month. A car loan repayment that fits your budget on paper can create pressure quickly if running costs are not accounted for.
We match you to the right lender from our panel of 20+ vetted NZ lenders and walk you through the full cost picture before you commit to anything.
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