How car loans and rental options can help Uber drivers

Want to be an Uber driver but don't have a car? We take you through some of the financing options to get you on the road.


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If you’re thinking about being an Uber driver, you may not know what financing is available. In the guide below we’ll take you through everything you need to know about car loans, plus some rental options that you may want to consider.

Eligibility requirements to be an Uber driver

  • You have completed the sign-up process and provided your supporting documents
  • You are at least 21 and have held a full New Zealand licence for at least 12 months
  • Residing in a city where Uber is available. You need to be living in Auckland, Wellington, Christchurch, Hamilton or Tauranga.

Eligibility requirements for an Uber car

  • Has at least 4 doors
  • Is a 2009 model or newer
  • Is in good driving condition
  • No cosmetic damage.

Who offers car loans for Uber drivers in New Zealand?

If you want to finance a car to drive with Uber you can consider loans offered by banks, credit unions and standalone car loan lenders. Here are some of your options:

  • Secured car loans. If you find an eligible vehicle you can use it to guarantee the loan. These loans come with very competitive rates and you can choose from fixed or variable rate loans, depending on what works best for you.
  • Unsecured personal loans. Are you planning on buying a used car? You might want to consider an unsecured personal loan. You can select fixed or variable rate loans from a range of lenders and have between one and seven years to repay.

Becoming an Uber driver is a great option to consider, with flexible hours and a $30 per hour guarantee in the first month. If you’ve decided to be an Uber driver, a car loan or rental could help you get into an eligible vehicle to get you onto the road.

How can I compare car loans?

Different loan companies offer varying features with their loan products. You can use these features to compare and find the right loan for buying or renting an Uber car:

  • Structure of the loan. The finance might be a rental, car loan or “lease to buy” scheme, so decide which one will work best for your needs and situation.
  • Type of car the loan is suited to. Some of the partners have restrictions as to what kind of car you can finance with the loan. For instance, you may only be able to select particular new makes and models.
  • Interest rate and fees. How competitive is the loan? Compare the loan with other offers available with Uber’s partners. You should also compare them with loans from banks and other car loans lenders to make sure you’re getting a good deal.
  • Loan terms. If you’re renting the car, how long can you hold onto it for? If you’re renting to own, how long are the terms? You also need to check the terms on offer for standard car loans. Will the terms make for manageable ongoing repayments?
  • Additional features. Some loans come with additional features, such as complimentary comprehensive insurance or refundable deposits. Check to see what’s available.

What other financing options are available for Uber drivers?

There are a couple of different financing options available through the Uber Marketplace and Mode Rideshare.

  • Rental. If you need an eligible car to get you on the road with Uber but aren’t ready for a car loan, you can consider renting through one of its partners.
  • Rent with the option to buy at term’s end. These loans function in a similar way to a car hire purchase, where you are essentially hiring the car, and at the end of the term you have the option of owning the vehicle.

Compare car loan options in New Zealand

Name Product Interest Rate (p.a.) Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee
Lending Crowd Car Loan
6.49% - 16.78%
3 or 5 years
$250 - $1,450 depending on the amount borrowed
Borrow $2,000 to $200,000 for your chosen vehicle. Eligibility: Be an 18+ NZ permanent resident, earn $30,000 or more, have a good credit history and collateral/security.
Simplify Secured Car Loan
6.50% - 14.50%
12 -60 months
$100 - $500
Secured vehicle finance from $5,000 to $150,000. Eligibility: Must be 18+, a New Zealand resident or permanent citizen and have an income of at least $500 per month.
Admiral Finance Car Loan
13.95% - 23.95%
6 months to 5 years
$125 - $595 depending on loan size
A secured car loan from $1,000 to $50,000 with a quick online application process.
QuickLoans Car Loan
9.95% - 23.95%
Up to 5 years
$95 - $595 depending on loan size
Borrow up to $20,000 with collateral/security and apply online within 5 minutes.
Swoosh Finance Car Loan
9.95% - 18.95%
Up to 5 years
Borrow up to $100,000 with a quick turnaround time upon approval. Working visa and beneficiary applicants accepted.
CarFinance2U Car Loan
1 - 5 years
With a CarFinance2U Car Loan you could get pre-approval for your next car in 30 minutes. Bad credit borrowers considered.
CarPow Car Loan
8.95% - 23.95%
Up to $495
Nectar Car Loan
8.95% - 29.95%
6 months - 4 years
Stadium Finance Secured Vehicle Loan
9.95% - 19.95%
Up to 60 months
Secured loans from $3,000 and funds paid within one day of approval. Eligibility: Must be 18+ and earning at least $500 per week

Compare up to 4 providers

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