How to get a loan for car purchase in New Zealand?

You can get a car loan in New Zealand by securing finance upfront with a lender like Harmoney. Our 100% online process allows you to get a personalised quote and then shop for your new or used vehicle with cash buyer confidence.

What's the difference between an unsecured and a secured car loan?

An unsecured car loan, like Harmoney's, is not backed by the car itself as collateral, meaning your car is not at risk of repossession. A secured car loan uses the vehicle as collateral, often resulting in lower interest rates but carrying the risk of repossession if you default.

How to get a loan for a car purchase in New Zealand?

Harmoney
Sep 9
2 min read

Getting a new or used car is an exciting milestone, and securing the right finance is a crucial first step. While there are many ways to get a car loan in New Zealand, the best option for you depends on your financial situation and your priorities. A Harmoney personal loan is a fast, simple, and flexible way to get the money you need to buy a car with confidence.

Here is a guide on how to get a car loan with Harmoney, and why our unsecured loans are a great option.

Step 1: Get Your Finance Sorted First

With a Harmoney personal loan, you can get your finance sorted before you even start shopping for a car. This gives you the power to negotiate like a cash buyer, which can help you get a better price.

Loan Amount: Use our loan calculator to get a rough idea of what you can afford, then get a personalised, no-obligation quote to find out your exact borrowing power.
Approval Timeline: Our 100% online process means you can get a quote in minutes, and most loans are approved within 24 hours. Once approved, the funds can be in your account very quickly.

Step 2: Shop for Your Vehicle with Confidence

With the funds ready, you're in a great position. You can shop at any dealership or from a private seller, without being tied to a specific dealer's finance company.

Private vs. Dealer: You can use your Harmoney loan to purchase a car from a dealership or a private seller—it's your choice.
Negotiate Better: By already having the cash, you have the upper hand in negotiations, potentially saving you thousands.

Why a Harmoney Loan is a Smart Choice for a Car

Many car loan lenders offer only a "secured," option, meaning the car itself is used as collateral. At Harmoney, we offer both an unsecured or secured option.

Unsecured vs. Secured Car Loans: The Choice is yours

	Harmoney Unsecured Car Loan	Harmoney Secured Car Loan
Collateral	Not required.	The car you are buying is used as security.
Risk of Repossession	None. Your car is not at risk.	The lender can repossess your car if you default.
Flexibility	Funds can be used for any car, from any seller	Often tied to a specific dealer or vehicle.
Process	Fast, 100% online, no paperwork.	Can be more complex and may involve dealership paperwork.

A Harmoney loan gives you the peace of mind of not risking your asset, combined with the convenience of a modern online process.

Key Features of a Harmoney Car Loan

No Early Repayment Fees: You can make extra payments or pay off your loan early without any penalty, helping you save on interest.
Fixed Interest Rate: Your rate is fixed for the life of the loan, so your repayments are always predictable and easy to budget for.
No Balloon Payments: Our loans are simple, with no hidden costs or a large lump sum payment at the end.

Ready to get your new car? Get a personalised quote today.