If you have questions, our guide section below offers help with everything from finance jargon to how to save money on your car finance.
Need more information about car finance? Don't worry, we have a list of car finance FAQs which may help with your query.
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The detailed information regarding Fees, Charges and other Information regarding the services we provide.
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Summary of finance
The information below gives you details at a glance to help you decide which product is right for you. Just select any feature below to find out more. We want you to be confident that your finance everything you need, so please be sure to read the full vehicle finance booklet before you decide to buy.
What’s finance?
How much can I borrow?
Sumita Car Finance minimum amount is $10,000. You can use our online calculator to estimate repayments to ensure they are affordable for you.
What is the difference between a ‘Car Loan’ and ‘Car Finance’?
At Sumita Car Finance we see car loans and car finance as being the same thing. Traditionally, car loans were provided by banking institutions whereas car finance was arranged by non-bank lenders. As NZ’s leading online brokerage we make the process of getting you into a new car as simple as possible.
What information do I need to supply?
After completing the application with your personal and financial information we may ask you to provide evidence of your identity, address and income.
Do I need a deposit?
Not always, Sumita Car Finance can consider finance up to 100%.
Can I buy a vehicle privately?
Yes, and we can finance vehicle purchase through auctions such as Trade Me.
Car Finance Options
Unsecured Personal Car Loan
Secured Car Loan
Most personal use loans in New Zealand for cars, boats, bikes etc are secured.
As an individual you are borrowing money to purchase a tangible item like a vehicle or boat which will be used as security for the loan. When you trade-in or sell you must then payout your car loan, and get a new loan if you require money to buy something else.
Secured loans usually have a lower interest rate than unsecured loans.
Rates
Interest Rates
Sumita Car Finance interest rates range from 9.95% p.a. to 19.95% p.a. Interest rates are fixed for the term of the loan. The rate charged will depend on your financial circumstances taking into account:
- how much you want to borrow
- the term of your loan
- your income
- your other financial commitments
- your credit history