Bad Credit Car Finance NZ
A no from the bank is not the end.
Defaults, a thin file, a rough patch two years ago. Panel lenders price real histories, and you see what that pricing costs in dollars before you decide.
How it works with a harder file
No tricks and no guarantees, because nobody can honestly offer either. What you get is a straight read on what the panel will do with your file, and the real cost of each option.
- ✓Lenders who price a wider range of credit histories
- ✓The higher rate shown in dollars, not hidden in a "from" rate
- ✓An honest no, with what would change the answer
- ✓Affordability checked properly, because that protects you too
Your offer, in full
Example1- Borrowed
- $20,000
- Establishment fee
- $240
- Rate, fixed
- 12.50% p.a.
- Term
- 4 years
- Fortnightly repayment
- $248
- Interest and fees
- $5,792
- Total payable
- $25,792
Example only, 14 October 2026. Your rate and fees depend on your credit file and the lender's offer.1
How a loan with BorrowClub works
Apply once, online
About ten minutes, one question at a time. We only ask for what a lender needs to price you properly.
Compare real offers
Rate, fees, repayment and total payable, side by side, with your adviser on the phone if you want them.
Pick, sign, get paid out
Your lender pays the money out directly, usually to your bank account.
Questions? We've got answers
Can I get car finance with a default on my file?
Often yes. A paid default from two years ago reads very differently to a fresh unpaid one, and lenders on the panel look at the story, not just the flag. The trade-off is usually a higher rate, and your offer shows exactly what that costs over the term.
Will applying everywhere hurt my credit score?
Scattering applications across lenders is the classic mistake: every hard enquiry lands on your file. With BorrowClub there is one application, and checking your rate does not affect your credit score.2 A hard enquiry only happens when you choose an offer and proceed.
What would improve my chances?
Three things move the needle most: a few months of clean bank statements with no dishonours, any deposit at all, and settling or arranging small unpaid defaults. Sometimes the best advice is to wait three months and come back stronger, and your adviser will say so if that is the truth.
Do I need a guarantor?
Usually no, and a guarantor is not something to sign up lightly: they carry the debt if you cannot. Where one genuinely helps, your adviser will explain what the guarantor is actually agreeing to, in plain English, before anyone signs.
Visit the guides library for the longer answers.