LETS BRIEF YOU ON PRE-APPROVAL

PRE-APPROVAL CHECKLIST

Below is a guide on how to qualify for pre-approval before you land

YOU MUST:

Be a New Zealand citizen

Only New Zealand passport holders are eligible for this finance option. If you are on a visa CLICK HERE for your pathway to approval.

Have a work contract ready to go in Australia (or already be working in AUS)

Proof of employment ensures stable income for your loan repayments.

Not have poor credit

Applicants with strong credit histories are more likely to be approved.

Be prepared to place a 10-20% deposit

A deposit reduces lender risk and improves your loan approval changes.

YOU MAY:

Be a home owner in NZ (This could waive the deposit requirement)

Have had good credit on a past car / home loan

Positive credit history demonstrates reliability and strengthens your application profile.

Can I Get Car Finance in Australia If I’m a Kiwi Citizen?

Yes, as a Kiwi citizen, you can secure car finance in Australia! The process is relatively straightforward, but there are specific requirements you need to meet to increase your chances of approval.

Eligibility Requirements

Firstly, New Zealand citizens residing in Australia typically need to prove their identity and income. Acceptable forms of identification include a valid New Zealand passport or a driver’s license. Additionally, lenders will often require proof of income, such as payslips, tax returns, or bank statements, to assess your ability to make repayments.

Residency Status

While permanent residency isn’t a strict requirement for Kiwis applying for car finance, having a stable residency status can positively impact your application. Most lenders prefer applicants who can demonstrate stable employment and a reliable income stream.

Credit History

Your credit history will also play a crucial role in determining your eligibility for car finance. If you have a solid credit score and a good repayment history, you are more likely to receive favorable loan terms. If you're new to Australia and don’t have a credit history here, some lenders may still consider your New Zealand credit history.

Choosing a Lender

When looking for car finance, you can approach various lenders, including banks, credit unions, and online finance companies. Each lender may have different terms and interest rates, so it’s vital to shop around.

Consider Using a Broker

Navigating the car finance landscape can be overwhelming, especially if you're unfamiliar with Australian financial practices. This is where engaging a finance broker can be advantageous. Brokers have access to a wide range of lenders and can help you secure the best terms suited to your financial situation. Their expertise can simplify the process and potentially save you money.

In summary, Kiwi citizens can indeed access car finance in Australia, and leveraging a broker’s knowledge can make your experience smoother and more efficient.

 

DISCLAIMER

The information provided on this website is general in nature only and has been prepared without considering your financial needs, circumstances and objectives and should NOT be construed as financial, taxation or legal advice. For more information, get in touch with our experienced partner brokers today.

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All Your Questions Answered

What is a car loan and how does it work?

A car loan is a finance product where a lender provides funds for you to purchase a vehicle, which you repay over time with interest.

What’s the difference between secured and unsecured car loans?

Secured loans use the car as collateral, often leading to lower interest rates. Unsecured loans don’t, but usually have higher rates.

What loan terms are available for car finance?

Most car loans offer terms from 3 to 7 years. Find out what term suits you best.

How is interest calculated on a car loan?

Interest is based on the loan amount, term, and rate. Fixed-rate loans have predictable repayments, while variable rates can change.

Can I get a car loan for a private sale?

Yes, many lenders accept private sellers. You’ll need to provide extra documents.

Do government employees get lower interest rates on car loans?

Yes — many lenders offer better rates due to your stable income. Explore finance options for government employees.

Can I apply for a car loan while on probation?

Yes. Many workers are approved during probation.

What credit score do I need as a government employee?

A score of 650+ is ideal, but lower scores may still be considered.

Are corporate professionals eligible for low-rate finance?

Yes, especially if you're full-time with strong income.

Can I get car finance with a novated lease?

Yes, many government departments support novated leasing.

Can I get a car loan with no credit history?

Yes, it's still possible to get a car loan with no credit history.

What if I’ve been declined elsewhere?

A broker can help restructure your application for better results.

How do I check my credit score?

Use Equifax, Experian, or Illion for a free check.

Can I get finance if I have a current personal loan?

Yes, if your income supports both loans. A broker will assess your capacity.

What documents do I need to apply?

Typically: ID, payslips, and bank statements.

Can casual workers get car loans?

Yes, if you’ve worked consistently for 6+ months.

Can I apply if I’m self-employed with an ABN?

Yes. Consider a low-doc loan.

Can Centrelink be used as income?

Yes, when paired with PAYG income.

What’s the minimum income to qualify for car finance?

Most lenders prefer $30,000+ annually, but this varies.

Can I apply on a fixed-term contract?

Yes, especially if it’s government-backed.

Can I finance a used car?

Yes, most lenders allow used cars under 10 years old.

Can I get a loan for an SUV or family car?

Absolutely

Can I finance a caravan or motorbike?

Yes

Can I finance an EV or hybrid car?

Yes. You may even qualify for green car loan discounts.

Can I use my car for both work and personal use?

Yes you can.

What is a balloon payment?

It’s a lump sum due at the end of the loan term.

Can I make extra repayments?

Yes, many lenders allow this without penalty.

Can I pay off the loan early?

Yes — ask if there’s an early payout fee.

Is there a deposit required?

Not always.

What loan terms are available?

1 to 7 years is standard.

How long does approval take?

24–48 hours in most cases

Can I apply online?

Yes — most lenders and brokers accept online applications.

Is a broker better than going direct?

Often, yes. They can compare lenders for you.

Can I get pre-approved?

Yes — and it gives you better negotiating power at the dealership.

What happens after I apply?

Your documents are reviewed, and if approved, the lender issues funds to the seller.

Can I get a loan with a visa?

Yes, in some cases. see finance for visa holders here.

Do I need a driver’s licence to apply?

Yes, but learners may qualify with a co-applicant.

Can I apply with someone else?

Yes, joint applications are allowed.

Can I refinance my current car loan?

Yes — it can lower your repayments or get you a better rate.

Can I trade in my old car as a deposit?

Yes, many lenders accept trade-ins toward the deposit.

Can nurses get car finance?

Yes — see nurse-specific finance tips.

Can teachers apply while on contract?

Yes. Read how to get approved.

Do defence personnel get special car loan rates?

Yes, in some cases. Your job security is a major advantage.

Can FIFO government workers apply?

Yes — consistency in income matters more than job location.

Can I apply if I’m on maternity leave?

Yes, especially if you’re returning to work. Here’s how.

Can I use car finance to buy interstate?

Yes — just make sure the seller provides all required documents.

Can I finance a car from an auction?

Yes, but only through select lenders. Ask your broker first.

Will applying hurt my credit score?

Only if you apply to multiple lenders directly. Brokers help protect your score.

Can I get a car loan if I’ve been bankrupt before?

Yes — see bad credit car loan options.

What if I want to upgrade my car before the loan ends?

You can sell the car, pay off the loan early, or refinance.