MyFinance Car Finance

Apply for car finance that can help get you on the road sooner.

MyFinance offers finance from $1,000 to $50,000 that can be used on a range of vehicles. Successful applicants can take up to 5 years repaying finances with interest rates from 13.95% – 24.95%. If you’re looking for your first car, an upgrade on the family car or a boat for weekends, it may be worth considering car finance from MyFinance.

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13.95% – 24.95%

Interest Rate (p.a.)


Max. Loan Amount


Product NameMyFinance Car Loan
Interest Rate (p.a.)13.95% – 24.95%
Min. Loan Amount$1,000
Max. Loan Amount$50,000
Loan SecuritySecured,Unsecured
Loan Term3 months to 5 years
More Info

Pros and cons


  • Fast loan processing times
  • Can be used on a large range of vehicle types


  • $25 early settlement fee
  • Standard maximum repayment time of three years, not five

Main points to consider with MyFinance car finance

You can apply for MyFinance car finance for between $1,000 and $50,000. Contract terms can vary from 3 months to 5 years, but most contracts are capped at the three-year mark. Interest rates range from 13.95% – 24.95% and will depend on the size and length of the finance.

Features of car finance from MyFinance

  • Fixed interest rates between 13.95% – 24.95%. MyFinance interest rates are based on the amount you borrow, how long you’re borrowing the finance for and whether or not you provide security against your borrowings. The rate you receive will remain fixed for term of your loan agreement.
  • Flexible loan size. Loan sizes can range from $1,000 to $50,000. This range allows you to choose the vehicle that’s right for you.
  • Loan terms. You have 3 months to 5 years to repay your car finance. The standard maximum is three years. You may be granted a longer repayment term for finance used on new vehicles or if you provide property security.
  • Fast processing time. Applications are typically processed within an hour once all necessary information and documentation is supplied. Times can vary during non-business hours.
  • Repayment options. When applying for car finance you can elect to structure repayments in weekly, fortnightly or monthly instalments.
  • Range of vehicles. You can use car finance on a range of vehicles such as campervans, motorbikes and boats.
  • Online calculator. The MyFinance website has a calculator that estimates the size of your potential repayments. Simply input the amount of money you wish to borrow and how long you wish to borrow it for.
  • Online application. MyFinance allows you to apply for car finance online. This process will only take a few minutes. Once you’ve applied you will be contacted by a MyFinance loan manager.

How much does the finance cost?

The overall cost of your finance will depend on its structure and detail. How much you borrow, how long you borrow it for and your financial history will all have a bearing on total costs.

The following fees may apply to your loan:

  • Establishment fee of $200 to $260 depending on loan size
  • Registration fee
  • $3 administration fee per instalment charge
  • $50 variation fee
  • Early settlement fee of $25
  • Default fees (including overdue notices, recovery fees and repossession fees)

How to apply for MyFinance car finance

To be eligible you must, at a minimum:

  • Be 18 years or older
  • Have a driver’s licence (must be a restricted-level licence or higher)
  • Ensure your vehicle is insured

When applying for finance you generally need to provide:

  • Identification. This includes your driver’s licence and proof of residential address.
  • Verification of employment and income. You will need to supply details of your income to show you can meet repayments. This may include payslips, bank statements and proof of employment.

Bottom line

If you’re looking for a car loan with flexible terms, loan sizes and fast processing times, MyFinance could be the right provider for you.

Compare car finance

Name Product Interest Rate (p.a.) Loan Amount Loan Term Establishment Fee Requirements Table description
Simplify Secured Car Loan
7.90% - 12.95%
$5,000 - $500,000
12 - 60 months
$100 - $500
Requirements: NZ citizen/permanent resident, income of at least $500/month.
See how much you could borrow without affecting your credit score.
MTF Finance Secured Car Loan
10.50% - 22.50%
$2,000 - $100,000
3 to 60 months
Requirements: NZ citizen/permanent resident or have a work visa, have a regular source of income.
Secured car loans from $2,000.
AA Money Car Loan
7.95% - 15.95%
$3,000 - $75,000
12 months - 60 months
Requirements: NZ citizen/permanent resident or visa holder, earn $30,000+ /year (before tax).
Loan approval within an hour.
The Co-operative Bank Unsecured Personal Loan
6.99% - 17.75%
$3,000 - $50,000
6 months - 5 years
Requirements: NZ citizen/permanent resident or have a valid work visa.
Floating-rate, unsecured personal loans from $3,000.
Lending Crowd Secured Car Loan
6.45% - 17.23%
$5,050 - $200,000
3 or 5 years
$350 - $650
Requirements: NZ citizen/permanent resident, have a good credit score.
100% online with no paperwork or early repayment fees.
Nectar Unsecured Car Loan
8.95% - 29.95%
$1,000 - $30,000
6 months - 4 years
Requirements: NZ citizen/permanent resident or have a work visa, income of $400/week (after tax), stable credit history.
Payouts made within one day of approval. Applications 100% online.
CarFinance2U Car Loan
8.95% - 23.95%
$5,000 - No max.
1 - 5 years
Requirements: NZ citizen/permanent resident.
Get pre-approved for your next car in 30 minutes.

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