Secured Car Loan

Car Loans for Personal Use

There are two types of car loans available for personal use.

  • secured or
  • unsecured

For either loan Kiwi Car Loans will organise the amount you require which is repaid over a period of up to 5 years.

Insurancewarranty and loan protection can be added to the car loan.

A deposit is not required on most cases, but may assist in your approval chances.

The loan has a fixed interest rate, ie. the interest is calculated on the unpaid balance daily, just like a home loan. Extra or additional payments will obviously reduce the outstanding balance and therefore reduce the interest charges. This can have the effect of shortening the term and reduce the overall cost of the loan.

Although it is a personal use loan, depreciation and interest charges could be tax effective claims if the car/boat is for business or work related usage.


Secured Personal Car Loan

Most personal use loans in New Zealand for cars, boats, bikes etc are secured.

As an individual you are borrowing money to purchase a tangible item like a vehicle or boat which will be used as security for the loan. When you trade-in or sell you must then payout your car loan, and get a new loan if you require money to buy something else.

Secured loans generally have a lower interest rate than unsecured loans.


To find out just how easy Kiwi Car Loans can make obtaining your next loan, Apply Now, or obtain a no obligation 60 seconds finance quote or call us on 0800 008 888.

At Kiwi Car Loans, we’ll help get you behind the wheel.