Nectar Unsecured Car Loans

Get finance for your new car and improve your credit score with an unsecured loan of up to $30,000.

Nectar strives to take away the hassle of applying for car finance with a simple online application and fast process that can have funds in your account on the same day that you apply. This New Zealand owned and operated lender offers competitive interest rates to match your financial situation.

Thanks to a process that provides you with an instant offer and rate after you apply, you can start shopping for your new car today knowing that the finance side of things is taken care of. And with everything managed online, you don’t need to leave your home to sign your loan contract.

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8.95% - 29.95%

Interest Rate (p.a.)


Max. Loan Amount


Product NameNectar Unsecured Car Loan
Interest Rate (p.a.)8.95% - 29.95%
Min. Loan Amount$1,000
Max. Loan Amount$30,000
Loan SecurityUnsecured
Loan Term6 months - 4 years
Turnaround Time7 minute application. If approved, funds will be received in your account the same day as your contract being signed online.
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More Info

Pros and cons


  • 7-minute application
  • Instant offer and rate
  • No early repayment fee
  • Unsecured loans
  • Fixed rates for the life of the loan


  • Interest rates can be as high as 29.95%
  • May not be able to borrow the full amount that you request

Main points to consider

  • Nectar Unsecured Car Loans are managed completely online so you may not need to speak to a real person. Applications take just 7 minutes to complete and if approved, you’ll be given an instant offer and rate.
  • If you are approved for a Nectar Unsecured Car Loan, you could have funds in your account on the same day that you sign your contract.
  • For Nectar to determine your creditworthiness, it will need to check your bank statements. During the application process, you will be asked to give approval for this to be done through a programme called Credit Sense. This gives Nectar temporary read-only access to your accounts so your bank history can be reviewed without handing over your password. If you don’t feel comfortable with this, you have the option to send bank statements separately but this will delay your car loan getting approved.
  • Nectar has flexible payment terms so you can choose a repayment period of between 6 months and 4 years. You can also choose when you want to pay back your loan, whether that’s weekly, fortnightly or monthly.
  • Nectar makes a monthly report to the Centrix Credit Bureau so that your successful repayments will positively affect your credit rating.

How much does the loan cost?

  • Fixed interest rates between 8.95% - 29.95% p.a. These are determined on your credit history and financial situation, so the interest rate that you receive is unique to you. If your credit history is not excellent, you can expect to be offered a higher interest rate.
  • Some lenders penalise you for paying your loan back early or for making extra repayments. Nectar does not charge an early repayment fee.
  • Nectar charges a $240 establishment fee for your car loan.

How to apply for a loan from Nectar

Since Nectar operates completely online, you will need to fill in an application form on the website for a car loan. Before you apply, make sure that you meet the eligibility requirements and have compared rates and terms with other comparable lenders.

Eligibility requirements

  • Be 18 years of age or older
  • Be a New Zealand citizen or permanent resident
  • Have a New Zealand bank account
  • Receive a weekly income of at least $400 after tax
  • Have not been bankrupt in the past or had any significant unpaid defaults

Information and documentation

When you apply, you’ll be asked to give Nectar access to view your bank history and current financial situation. If you don’t want Nectar to view your accounts directly, you can send your bank statements to them. You will also need to show your New Zealand Driver’s Licence or passport as proof of identification.

Once you have completed your application, Nectar will send you an offer and rate instantly if approved. If you are happy with the agreement, you can sign a contract online and have funds in your account within one working day in most cases.

Bottom line

Nectar offers tailored, unsecured car loans of up to $30,000 with flexible loan amounts and payment terms. Applications take just 7 minutes to complete and approval is usually within one business day. If you like the sound of this then click the apply button below to head on over to Nectar’s website to start your application.

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