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Helpful Questions and Answers

Here are some answers to the most commonly asked questions about car finance.

Frequently Asked Questions

Q. Why finance at NZVF?

Our finance is fast, competitive, and hassle free. One of our Business Manager's will tailor a finance package that you are completely comfortable with, one that suits your budget and your lifestyle.


Q. Will I qualify for No Deposit car finance?

In most cases we can approve customers for no deposit car finance. To know if you qualify it is best to apply for a no obligation pre-approval by completing our online application form.


Q. Do you lend to clients on the benefit?

A. Yes we do – it all comes down to affordability and the size of loan and type of vehicle purchasing.


Q. How long does it take to get an answer?

A. Applications for finance received before lunch are answered in the afternoon of the same day; applications received after lunch are answered the next business day, if not before. However, wherever possible, we aim to respond to your application within the hour. If your application is urgent, please call us after submitting the loan application.


Q. How much can I borrow?

A. The most important factor in determining how much you can borrow is affordability – or how much the repayments will be compared to how much disposable income you have. We work this out based on your current income and expenses. To find out how much you can borrow, use our (online calculator).


Q. How long is the term of the loan?

A. We offer terms from 6 - 72 months. Subject to approval.


Q. Can I get an approval before I have picked a vehicle?

A. Yes, in step 1 of the application form you just click pre-approval. If you have a type of car in mind, it's also helpful to include it in your application. We can change the vehicle you finally decide before finalising your loan.


Q. Can I change the amount of my loan after it is approved?

Yes. If you want to increase the amount, it simply needs to be approved by us (you won't need to fill in another loan application). Just speak to our Business Manager who will organise it for you.


Q. What if I still owe money on my old car?

That's not a problem - in most cases we can trade in your old car and pay off the old loan for you. We then simply deduct that amount you owe from your trade-in value.


Q. Do you approve loans with clients with bad credit?

A. It's more difficult to get an application approved with bad credit however we do get loans approved of this nature depending on the circumstances. We need a complete application and any additional information you can provide us is a great help to get a better picture.


Q. Can I apply for finance with a learner's driver's licence?

No, the minimum driver's licence we require is a restricted licence.


Q. Can I buy a car from an auction?

A. Yes, this is like buying a car privately. However it is best to get pre-approved for the type of vehicle you are looking for before the auction. That way you know how much you have to spend when bidding and no nasty surprises.


Q. Do you offer insurance?

A. Yes. To find out about our insurance products click here. We can include all your insurance in your finance.


Q. Is there a minimum age for a loan?

A. Yes, 18 is the minimum age to enter into a contract.


Q. How do I make payments to the loan?

A. Payments can be structured weekly, fortnightly or monthly using Automatic Payment from your bank.


Q. Can I pay the loan off before the end of term?

A. Yes, however there is a small early settlement fee in most cases. When completing the loan application, be sure to ask what this is if you intend to pay off the loan before the end of the term.


Q. What will I need to bring with me or email to you?

When you come in and see us, bring with you a one month bank statement showing your pay going into your account, your ID such as a driver's licence or passport, and details of any other loans or payments you are making.


Q. What is a Guarantor?

A. A guarantor is someone who agrees to pay your loan if you don't keep up the payments.


If you have any further questions, please don't hesitate to contact us.