Car/Boat Finance

What if I have bad credit?

Please apply anyway as your credit may be improved. FAMILY FINANCE will make a decision on your credit worthiness. Or we may require you to have another borrower on the loan.

Is there a minimum amount I can borrow?

Yes we do not lend less than $1000 as a general rule. Once you have an established good history with FAMILY FINANCE however, you can borrow from $500.

What if I am under 18 years of age?

You cannot get a loan if you are under 18 years of age.

What if I have a learners license?

You cannot be the sole borrower if you have a learners license. However, if you are over 25 years of age FAMILY FINANCE may pay for your restricted license. For application forms please call 09 408 1900.

What is your interest rate?

Interest rates vary according to your credit rating, the security offered and the amount and term of your loan. Our rates vary between 14% and 22%

What is security?

The security on a loan is a vehicle, machinery household goods or property.

Do you charge interest?

Yes Interest is charged every day on the amount outstanding.

Is there an establishment fee?

Yes This varies according to the amount of your borrowing For example the documentation fee is  $375 on car loans over $5000

What about insurance?

FAMILY FINANCE can provide or arrange insurance cover for you. Or if you have a relationship with an insurance company or broker we will assist you to arrange your own insurance . However, you must have insurance on a financed vehicle or property.

What is GAP?

GAP is auto equity shortfall insurance Should you have a car accident and the insurance company writes the vehicle off, this policy clears any borrowing over the insurance claim payout figure and gives you $1000.

What is warranty?

This is mechanical insurance for the motor, gearbox, electrics, brakes etc. You need to obey the manufacturer’s recommended servicing intervals ( usually every 10 000kms or 6 months) Should you have a major claim all you pay is the first $100

How many years can I take the loan out for?

You can borrow for between 6 months and 5 years

Will you pay for my drivers license?

FAMILY FINANCE is passionate about improving driver safety and if you are over 25 years of age FAMILY FINANCE may upgrade your present license if you apply (link to application form)

Can I pay extra?

Yes, at any time. Ring us to obtain our bank account and simply pay online or go to your nearest ASB bank and deposit the extra funds. Please ensure you include your contract number on the deposit though so we know who to code the payment to.