Enjoy the freedom to choose the right car for your needs
Flexibility to shop around and buy with confidence. You're not tied to dealership finance, so you can compare your options and stay in control of the decision.
A clear plan you can stay on top of
With a structured repayment plan and loan term, you’ll know how much you’re paying and when your loan will be finished, giving you certainty and steady progress.
Flexible loan terms
Choose a repayment term that suits your budget. Shorter terms may reduce interest overall, while longer terms can lower your regular repayments, ensuring your loan works for your financial situation.
Buying new or used?
A personal loan can be used to help finance either option, and each comes with different things to consider.
Buying from a dealer
Dealerships may offer finance when you buy a vehicle, but it is worth taking the time to explore all your options. A personal loan from The Co‑operative Bank can give you the flexibility to shop around and compare vehicles from different sellers and find the solution that's right for you.
Buying privately
Buying privately can give you more choice when looking for the right vehicle.
With a personal loan, you receive the funds directly and pay the seller yourself, giving you flexibility in how you purchase your vehicle.
How a personal loan can help when buying a vehicle
A personal car loan can help you finance:
- A first car
Get on the road sooner with manageable repayments.
- An upgrade
Move to something safer, more reliable, or better suited to your needs.
- Private or dealer purchases
Buy through a dealership or directly from a seller.
A smoother ride ahead
With regular repayments and a structured loan term, you'll have a clear repayment schedule to help you manage the cost of your vehicle purchase, so you can focus on the road ahead.
- New or used vehicles
Finance a new car, a used vehicle, or buy privately, the loan works the same way, giving you the flexibility to buy the car that fits your needs and budget.
- Manage it your way
Apply online and manage your loan anytime through our app or internet banking, giving you control and visibility, whenever it suits you.
- Pay it off sooner if you can
Make extra repayments or repay your loan early without added fees, allowing flexibility to reduce interest and clear your loan faster.
Is a personal loan right for you?
A personal loan could be a good option if you:
- Want to spread the cost of a vehicle over time.
- Prefer structured repayments you can budget for.
- Want choice about where and how you buy.
It’s not always a straightforward decision, and that’s okay.
Everyone’s situation is a little different, so it’s about what works for you. The best way to know exactly where you stand is to talk to us. We'll take the time to understand your circumstances and assess whether a personal loan is suitable for you.
Personal loan interest rates are floating, which means they may change during the term of your loan. If they do, we'll let you know how much more or less your repayments will be.
If you’d like to talk it through, you can speak to one of our team on 0800 554 554.
General Terms and Conditions and eligibility criteria apply.
Interest rates and loan details at a glance
| Interest rate | From 9.95% to 17.75% p.a., your rate will depend on your credit history and individual circumstances. |
|---|---|
| Loan amount | $3,000 to $50,000 (subject to lending criteria). |
| Loan term | Choose a term that works for you from 6 months to five years. |
| Repayments | Weekly, fortnightly or monthly repayment options available. |
| Fees | $145 establishment fee. |
| Extra repayments | No fee for extra repayments or early repayment. |
| Good to know | Paying more or finishing your loan early may reduce the total interest you pay. |
Personal Loan Calculator
Estimate your repayments
Use our calculator to get a sense of what your repayments could look like, whether you're planning a purchase, covering a bill cost, or considering a debt consolidation loan.
Based on an estimated interest rate of 13.50% p.a., your repayments could be:
$123.22
Estimated interest you could pay:
$215
Estimated total cost of the loan:
$3,215
Apply online
Important:
This calculator provides an estimate only and is for illustrative purposes. It is not financial advice and does not guarantee your actual loan terms or repayments. Your actual repayments may vary based on your individual circumstances.
Ready to take the next step?
To apply, you’ll need to:
- Be 18 years or older.
- Be currently living in New Zealand.
- Be a New Zealand citizen, permanent resident, or eligible visa holder.
- Have a regular source of income.
- Meet our lending criteria.
We may also ask for:
- Details of your income and expenses.
- Information about any existing debts.
- Recent payslips or bank statements.
We take the time to understand your situation, so you get a clear and realistic view of your options upfront.