# Car loan advice



## prussia7

Hi all,

We're looking at getting a car loan, probably only about $4000. We're not residents but work permit holders. Does anyone have any advice on companies which offer reasonably competitive loans for non-residents?

Thanks!

Anna


----------



## escapedtonz

prussia7 said:


> Hi all,
> 
> We're looking at getting a car loan, probably only about $4000. We're not residents but work permit holders. Does anyone have any advice on companies which offer reasonably competitive loans for non-residents?
> 
> Thanks!
> 
> Anna


Sorry don't know any companies that offer finance for non-residents.

How long have you got remaining on the work permit visa's ?

Assuming you have good credit you will only get finance up to the expiry of your temp work visa's.
This is to avoid you leaving at the end of your visa but still owing money on finance.
The finance companies see you as an increased risk and as such there may be a premium on your payments / higher interest rate ?


----------



## jsharbuck

Hi. We checked into financing a car when we first arrived with a work visa last year. There is a company on Hamilton that will finance to non residents. They require 25 to 30 percent down and financing is for the term of your work visa. I will look it up and post it tomorrow if you like.


----------



## HumbleCarFan

Hi,

I understand the conversation pretty old, but for others who find this post will be useful.
Now the easiest way in NZ to get a car finance is to go to the dealership. 

The big one, like Buy Right Cars, works with a big finance providers. It will be harder to get the finance without local income, but interest will be lower. 

The huge dealer ships, like Turners Cars, have got their own finance department. 
So you could have good interest here. 

And you could have you finance with international driving licence and with work visa. 
But a term will be shorter or interest will be bigger. The worst you could have will be around 25% probably, the best is around 11%. It is not a big deal if you are after an affordable car.


----------

