UDC Car Loan

If you want to borrow $500,000 for a car, bike, van or ute, a UDC car loan could be for you.

You can borrow between $10,000 and $500,000 with a UDC secured car loan, with terms ranging from 1 year to 5 years. You can easily apply online in under 15 minutes. When you apply during normal business hours, you could receive your funds within one day if your loan is approved.

We’ll help you decide if a UDC car loan is right for you.

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8.20% - 10.20%

Interest Rate (p.a.)


Max. Loan Amount


Product NameUDC Secured Car Loan
Interest Rate (p.a.)8.20% - 10.20%
Min. Loan Amount$10,000
Max. Loan Amount$500,000
Loan SecuritySecured
Loan Term1 year to 5 years
Turnaround TimeSame day
More Info

Pros and cons


  • Borrow up to $500,000
  • Up to 100% finance available for new and used cars
  • Flexible loan terms from 1 year to 5 years


  • Higher minimum loan amount of $10,000
  • Requires the vehicle being purchased as collateral for your loan
  • Establishment fee of $195
  • Maintenance fee of $2 per month

Main points to consider with a UDC car loan

UDC offers secured car loans from $10,000 to over $500,000, with the loan term ranging from 1 year to 5 years. Interest rates on loan repayment are fixed at an annual rate between 8.20% - 10.20% p.a., depending on your loan amount, loan term, deposit size, credit history and risk profile. Loans also come with a $195 establishment fee and $2 monthly maintenance fee.

Features of a car loan from UDC

  • Fixed interest rates of 8.20% - 10.20% p.a. UDC loans offer a fixed interest rate over the entire loan term, so your repayments won’t increase over the loan term.
  • Risk-based interest rates. Your individual loan interest rate will be calculated based on your credit grade, loan amount and loan term. The less risky your profile, the lower the interest rate you will be charged.
  • Flexible loan limits. Borrow from $10,000 to over $500,000, depending on your needs and current financial situation.
  • Flexible loan terms. Loan terms range from 1 year to 5 years, based on your repayment ability and risk profile.
  • Fast online application. You can apply online for a car loan in under 15 minutes and gain same-day approval. If approved, you can expect to receive funds within 24 hours.
  • Flexible repayments. Choose to make repayments weekly, fortnightly or monthly to suit your needs.
  • Online car loan calculator. Before applying, use the UDC loan calculator to estimate your total loan cost.
  • Potential 24-hour lending. If your loan is approved, you could receive funds within 24 hours.
  • Responsible lending. UDC is a New Zealand registered financial services provider (FSP) and is a subsidiary of Shinsei Bank Limited (since its acquisition from ANZ Bank New Zealand in 2020).

How much does the loan cost?

The total cost of your loan is calculated based on the loan amount, loan term and current financial circumstances. To estimate how much you’ll need to pay, use UDC’s loan calculator on its website.

The following fees may apply to your UDC loan:

  • Establishment fee. This will cost you $195.
  • Loan maintenance fee. A fee of $2 per month will be charged for keeping the loan active to align with your loan repayment schedule.
  • Personal Property Securities Register (PPSR). A fee of $10.35 will be charged to search and register your security interest.
  • Variation of contract fee. When a variation, assignment or an unscheduled part repayment is made, you will be charged $25 each time.
  • Early settlement. If you make full repayment before the end of the loan term, you will be charged a fixed fee of $7 plus an additional variable fee that’s calculated based on changes in the wholesale interest swap rates at the time of loan commencement and the remaining term at the time of repayment.
  • Default fee. When you fail to pay an instalment, default interest will be charged at the annual interest rate at the time of default plus 5% p.a.
  • Dishonour fee. If a repayment is dishonoured by your bank or an auto payment is rejected, a fee of $3.50 will apply.
  • Late payment fee. If you pay a scheduled instalment late, after 7 days, you’ll be charged $60.
  • Repossession action fee. At the time UDC commences repossession of your security asset, you’ll need to pay $50.

How to apply for a UDC car loan

You can apply for a UDC loan through their site and clicking on “Start application”
To be eligible, you must:

  • Be 18 years or older
  • Be a New Zealand resident or hold a valid New Zealand working visa
  • Be employed
  • Have no credit default history and not be currently bankrupt
  • Have or agree to obtain insurance to the vehicle’s value

When applying, you will need:

  • Proof of identity. You will need to provide your age, residency and identity with a valid NZ passport or driver’s licence.
  • Proof of employment. Supply details of your current employer and past employers if you’ve changed jobs in the last three years.
  • Proof of financial standing. You will need to prove your current income, expenses, assets and liabilities including other loans or credit cards.
  • Proof of vehicle registration. If securing your loan with a vehicle, you will need the vehicle’s registration number.

Bottom line

UDC offers quick funds to purchase a new or used car, bike, van or ute with a secured car loan. The advantage of this lender is that it offers 100% finance. In saying that, there are fees involved if you default on your loan. If you’ve decided a UDC car loan is right for you, head to their website to start your application today.

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CarFinance2U Car Loan
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Get pre-approved for your next car in 30 minutes.

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