Do I need to be working to get approved for a car loan?
Yes, you will need to working Permanently with no trial period at least part-time or have some form of paid income along with any benefits from IRD or WINZ payments. The key to approvals is to have sufficient affordability and so ideally you need a combined income of at least $500 per week for car loan approval.
Can you help after bankruptcy?
Yes. If you have previously been bankrupt and since discharged then CarPow can 100% review your application. Bankruptcy is often seen by lenders as a clean slate as it should have cleared away any previous financial debts and commitments. They will check to confirm you have completed the required timeframe as it requires 3 years from start to finish.
What are your rates?
Each application is assessed based on both the customer’s credit score and also their ability to repay the loan. The higher the risk of the loan not being paid back then the higher the interest rate can go. Rates can range from 10.95% up to 23.95% for serious credit issues.
What cars do you have?
As a nationwide provider they can offer our current vehicles if required but will also work with their preferred dealership suppliers to locate your perfect vehicle for you. Also if you already have a car in mind then we can carry out necessary checks for you such as valuation and that the KM’s are correct.
Can I buy a private sale?
Yes you can. Private sales are no problem and they can also negotiate with the seller on your behalf and speak directly with them for any paperwork needed.
