How does car finance work?

Driving away in a new set of wheels has never been easier

If you don’t have the cash, drumming up funds for a new or used car can be daunting.

That’s why here at NZCU Baywide we make it quick and easy to finance your next vehicle! Whether you need $2,000 or $60,000, we have your next car purchase covered with competitive interest rates on our 9.9% p.a* secured and 11.9% p.a* unsecured loans.

All you need to do is apply online, or call us on 0800 229 943.

It’s that simple!

What happens once I've applied?

Once our friendly team have received your application, we’ll review it and aim to contact you within 1-2 working days. During this review, we may get in touch for additional information that helps us to make an informed decision on your application.

If you’re approved, we’ll simply transfer the funds into your account or that of the current car owner.

Financing your first vehicle? Make the process simple with these tips:

  • Think about the re-sale value
    Vehicles tend to drop in value in just a few years, so consider the depreciation on the car you have your eye on, and the impact this might have if you’re planning on re-selling in the near future.
  • Secured vs unsecured loans
    Weigh up your options and apply for the option that best fits your current situation. Unsecured finance doesn't require you to offer up any assets as security, while secured will provide you with lower interest rates.
  • New or used?
    If you’re going to be buying new, ask yourself why. That new car smell is great, but you may also want to consider the possibility of a used vehicle. Especially if your budget is already tight.
  • Check the fees
    Understand the various fees you may have to pay. These could include:

    • A one-off approval fee
    • Auto and Credit check fees
    • Fees for defaulting on payments
    • Repayment insurance
    • Other third party fees
  • Stick to your budget
    Obtain pre-approval so you know what your budget is before you start car shopping.


Want to know your options?

Use our vehicle loan calculator