Nectar Car Loans NZ

With interactive technology, low costs, and competitive interest rates, Nectar may just be the car finance option you need. Cheap Nectar car loans in NZ are personalised for your needs, allowing you to find the right deal in just a few minutes! Thanks to their online operations, they are able to serve you faster, and with reduced costs.

Thinking of comparing Nectar car loans to other cheap providers in NZ? Simply hop on over to our FREE comparison page here at CompareBear to evaluate your options. With CompareBear, you can get the most competitive interest rates for your needs in just a few clicks!

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Why Choose Nectar Car Loans in NZ?

Get some of the best deals on your car loans with Motor Vehicle Finance. 95% of the loan applications they facilitate are approved, meaning your own chances are pretty high, so long as you meet the criteria. They also have a way of matching other offers, paying $500 towards your loan if they’re unable to beat one you’ve found from someone else. Their turnaround times are also fast, responding to your application within two hours of receipt.

Nectar is the provider for you if you’re looking for a lender that operates 100% online while offering personalised car loans to each borrower. It’s very easy to get a deal that best suits your lifestyle in just a few minutes. Of course, this does mean that they conduct an extensive profile check, which includes checking your bank statements.

Profile Assessment via Credit Sense

This is a programme during the application process where you provide Nectar a temporary read-only access to your bank account, allowing them to evaluate your creditworthiness (this is safe as there’s no need to provide them your password). Alternatively, you can choose to send them bank statements if it’s more comfortable for you, though the application may take longer this way.

How does Nectar Car Loans in NZ work?

Nectar allows you to borrow any amount between $1,000 to $20,000, while making repayments starting at 6 months to 4 years. Payments can be made weekly, fortnightly, or monthly depending on what arrangement suits you best. All your payments are also reported by Nectar to the Centrix Credit Bureau, so you can rest assured that all your efforts contribute to improving your credit score.

Fees and Charges

The interest rates on your loan will depend on a multitude of factors, such as your personal circumstances, credit history, and of course, your financial situation. Generally, it varies between 8.95% to 29.95% p.a. which is fixed for the duration of your loan.

As for other fees, you can expect to pay an establishment fee of $240 for unsecured loans or a $340 fee for secured loan. There’s also a dishonour fee of $15, an overdue payment fee of $25 per month (if you fail to pay within 3 days of the due date), and loan variation fee of $30 (for changes to the loan agreement).

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You need to be an NZ citizen or permanent resident of at least 18 years or older, with a weekly income of at least $400 or more for repayments. Of course, it’s also important to have opened a bank account here in NZ and you should not be currently bankrupt or be burdened with a significant amount of debt.

Yes. While the agreement is fixed, you can still top up the amount you borrowed 16 weeks after the loan has been made. Your loan just needs to be up to date, and the new amount will be added to your existing loan once it’s approved.

Thanks to their fast online process, you can get your funds within the same day as your application! Your finances are usually processed from Monday to Friday, 9:00 AM to 6:00 PM and Saturday at 10:00 AM to 2:00 PM NZ time.