Frequently asked questions about Dealer Finance Loans.
How Can I apply?
The majority of loans provided by Dealer Finance (DFL) are completed through our Dealer Members found here. If you are buying privately or through a dealer that is not part of DFL you can apply for finance direct with our Office. Simply contact our Office on (03) 341-5075 or use the Contact Tab so we can discuss your requirements.
Which Dealer can I choose
Select your preferred Dealer from our members who has the product you wish to look at purchasing. Your preferred Dealer can make an application for finance.
How long will it take to get a decision
The application process is straight forward and our Dealer members will guide you through this. Often the speed at which a decision can be made will depend on how quickly you can provide all the supporting information.
Does a good repayment history assist me with future finance applications?
What security do I have to provide?
DFL will take security over the item being purchased for the loan. Depending on your requirements in some circumstances it may be necessary for us to take security over additional items.
What information do I need to supply?
Generally you will complete an application with your personal and financial information and provide proof of your identity, address, income and relevant information. If applying through our Dealer network our members will guide you through this process.
Will you consider loans for holders of Work Visas?
Yes we will. Welcome to New Zealand! We hope you take the time to explore our beautiful country while you are working here.
I’m on a Learners Licence, will you still consider me?
Unless we are satisfied that you will always comply with your licence conditions we will not assist you with vehicle finance. However, we encourage you to apply for finance with us and we can look at a pre-approval subject to you obtaining your restricted licence. Once you’ve succeeded and any other loan conditions have been met, you’ll be able to take possession of your pre-approved vehicle.
I’m on a Restricted Licence, will you still consider me?
Yes we will. As a restricted licence holder you must comply with your licence conditions. Failure to do so can put your motor vehicle insurance and associated insurance policies at risk of being declined by your insurer. We don’t want you to take any unnecessary risks and encourage you to sit your full licence immediately when you qualify to do so.
How much can I borrow?
The amount you can borrow will depend on whether the proposed loan repayments are affordable by you. When offered finance you will be asked to confirm the proposed repayments can be adequately repaid without causing you undue hardship.
Do I need a deposit?
No, not always as DFL will look at lending you 100% of the cost price.
What loan terms are available?
Generally our loan terms are 36 months however we may consider a loan term up to 60 months depending on your application, overall circumstances and the item being purchased.
Can I buy a vehicle privately?
Yes. If our Dealer network is unable to source your preferred vehicle we can look at financing your purchase from a private seller or a dealer from outside of our dealer network.
What interest rates do you charge?
Our interest rates are determined on the strength of your application. Indicative rates can be found here.
What fees do you charge?
Our fees are detailed here.
Does DFL offer insurance products?
Our Dealer members offer a range of products including GAP (Guaranteed Asset Protection), CCI (Credit Contract Insurance), PPI (Payment Protection Insurance), general Motor Vehicle Insurance and Mechanical Breakdown Insurance. Please discuss your requirements with us or the dealer during the application process.
What happens if I default under the agreement
Under the agreement you have certain obligations to meet, including the obligation to make regular payments and ensure the item is registered, warranted and insured at all times. DFL takes a security interest in the vehicle that it has financed for you. If you fail to meet your commitments under the agreement, DFL may be entitled to repossess and sell your vehicle. If the sale of the vehicle does not cover your outstanding loan to DFL, you will remain liable for the shortfall and associated sale costs. Other fees may apply if you fail to meet your commitments under the agreement. These can be found within our Finance page.
Let us know if you’re having trouble paying. The sooner you let us know the better. Call us on (03) 341-5075 whatever the reason, we want to help.