ASB car finance

ASB offers both secured and unsecured car loans, allowing you to tailor your loan to your financial needs.

ASB provides both unsecured and secured car loans depending on your financial circumstances. Unsecured car loans start at $2,000, while secured loans have a $20,000 minimum. Loan terms range from 6 months to 7 years, allowing you to make repayments in instalment sizes that suit you. If you need car finance for a new vehicle, consider a car loan from ASB.

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Interest Rate (p.a.)


Product NameASB Car Loan
Interest Rate (p.a.)12.90%
Min. Loan Amount$2,000
Loan SecuritySecured,Unsecured
Loan Term6 months to 7 years
Turnaround TimeSame day
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Pros and cons of ASB car finance


  • Secured and unsecured car loans
  • No fees on extra repayments


  • High minimum on secured loans
  • $99 loan processing fee

Features of a car loan from ASB

  • Fixed interest rates. Both unsecured and secured car loans have a fixed interest rate of 12.90%.
  • Flexible loan size. The minimum loan amount is $2,000 for an unsecured loan and $20,000 for a secured loan. Loan ceilings are determined by ASB and will reflect your financial history and current financial standing.
  • Varied loan terms. You can choose a loan term from 6 months through to 7 years. Shorter loan terms have higher repayment sizes but accrue less total interest, whereas longer loan terms have lower repayment sizes and accrue more total interest.
  • Processing time. You should hear from an ASB representative within 24 hours of lodging an application. Times can vary outside of regular business hours.
  • Repayment options. You can opt to make your car loan repayments in fortnightly or monthly instalments.
  • Higher repayments and early repayment. You won’t be charged a fee if you want to increase your payments or pay your loan off early.
  • Secured and unsecured car loans. ASB offers both secured and unsecured car loans. Secured loans require you to use your new vehicle as collateral and to purchase with the help of ASB. Unsecured loans allow you the flexibility to make payment arrangements directly with the seller of the vehicle.
  • ASB calculator. The ASB website offers a repayment calculator. This allows you to get an idea of the potential repayment sizes that would be attached to your loan.
  • Online application. You can apply online. You will need your employment and income details to do so.

How much does an ASB loan cost?

The overall cost of your loan will depend on its structure and detail. The size of the loan, the length of the loan and your financial history will determine the total cost.

The following fees may apply to your loan:

  • $99 loan processing fee
  • $25 PPSR fee (for secured loans)
  • Missed payments and unarranged overdraft fees apply (minimum $10 charge)

How to apply for an ASB car loan

To be eligible you must, at a minimum:

  • Be 18 years or older
  • Be a New Zealand resident, citizen or visa holder
  • Agree to a credit check
  • Earn over $20,000 per year

When applying for a car loan you’ll need to provide:

  • Identification. You’ll need to provide a driver’s licence or passport in order to prove your identity.
  • Verification of employment and income. You’ll be asked for your income and employer’s details when filling out the initial application. These will need to be supported by payslips and bank statements.

Bottom line

ASB offers unsecured and secured car loans, flexible terms and repayment options, and you can pay off your loan early without being stung. The only drawback could be the high loan processing fee, if this does apply to you. When you’re comparing options an ASB car loan is certainly worth considering.

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