Frequently asked questions

Car Loans

17 FAQsquestions

• Can I use a car loan to cover on-road costs as well as the vehicle?

  Yes. You can use your car loan to cover more than just the vehicle itself. Things like registration, WOF, insurance, and other upfront costs can all be included, so you can take care of everything at once.

• Can I buy from a private seller? 

  Yes. You can buy from a private seller, not just a dealership. Once your loan is approved, the funds are paid straight into your bank account, so you can pay the seller directly. We always recommend checking the vehicle carefully before you buy, just to be safe.

• Can I get a car loan for an EV or hybrid?

  Absolutely. We can help you get a car loan for electric, plug-in hybrid, and standard hybrid vehicles, whether new or used. If you're buying locally or from around NZ, we'll work with you to find the right finance option.

• Can I get a loan for a used car?

  Absolutely. You can get a loan for a used car, just like you would for a new one. The age, make, or model of the car won't automatically affect your chances. We'll look at your personal financial situation to assess your application. Whether you're buying from a dealer or a private seller, we can help arrange the finance you need.

• How much can I borrow for a car?

  The amount you can borrow for a car depends on your personal situation. We'll look at things like your income, credit history, and any other financial commitments you have. Our team will work with you to find a loan amount that fits your needs and your budget, so you can buy the car you want with confidence.

• What's the difference between a new and used car loan? 

  The process is the same whether you're buying new or used. The main difference is that interest rates can vary depending on the car's age and the lender's criteria, with newer cars sometimes attracting lower rates. Once approved, funds are paid directly to the seller, and we'll take your vehicle details into account when comparing options for you.

• Can I include registration, insurance, and other costs in the loan?

  Yes. Your loan doesn't have to be limited to the purchase price of the vehicle. Registration, WOF, comprehensive insurance, mechanical breakdown insurance (MBI), and dealer-fitted accessories can all be included in your loan amount, making it easier to cover all your upfront costs in one go. 

• Can I use a car loan if I'm self-employed? 

  Yes. We work with self-employed applicants regularly. You'll need to provide evidence of income such as recent bank statements or tax returns, and we'll find the lender on our panel best suited to your situation. 

• How quickly will I receive the funds?

  If your application is approved and meets our lending criteria, we’ll do our best to get the funds into your account on the same day. Timing can depend on your bank and when you apply, so while we aim for same-day funding, it’s not always guaranteed.

• Will applying affect my credit score?

  No, getting a quote with Armstrong's Finance won't impact your credit score. We only run a full credit check if you decide to go ahead with a formal application, and we'll always let you know before that happens.

• What is a car loan?

  A car loan is a loan used to finance the purchase of a vehicle, whether new, used, or electric. Instead of paying the full price upfront or waiting until you've saved enough, a car loan lets you buy now and spread the cost over time. Once approved, funds are paid directly to the seller, whether that's a dealership or a private seller, so you can move quickly on the right vehicle. Whether you're buying for yourself or the family, from a dealer or a private seller, Armstrong's Finance works across a panel of lenders to find the most suitable loan for your situation.

• What car loan interest rates can I expect in NZ?

  It depends on your situation. Things like your credit history, income, how much you're borrowing, and the loan term all play a part. Because we compare options across a panel of lenders, we'll work to find a rate that suits your circumstances. Get in touch with our team and we can talk through what's likely to be available for you.

• Can I get a car loan with bad credit?

  Yes, it's worth applying. A difficult credit history doesn't automatically rule you out, and different lenders have different criteria. Some are better suited to applicants who've had financial difficulties in the past. We assess every application individually and look across our full lender panel to find the most suitable option for your situation. If you've been turned down elsewhere, it's still worth talking to us.

• What does pre-approval mean, and should I get it?

  Pre-approval is where a lender confirms how much they're willing to lend you before you've found a car. It's a good idea. It gives you a clear budget before you start shopping and means you can move quickly when you find the right vehicle. 

• What's the difference between a secured and unsecured car loan?

  A secured loan uses the vehicle as collateral, which gives the lender greater security and typically means lower interest rates for you. An unsecured loan isn't tied to any asset and has no collateral involved, but rates tend to be higher as a result. Most car loans in New Zealand are secured. We will always be upfront about which type of loan you are being offered and what it means before you commit.

• Can I refinance my car loan?

  Yes. If your current loan no longer works for you, whether the rate is too high or your circumstances have changed, refinancing could help. A refinance loan pays out what you owe and replaces it with a new loan. We can compare options across our lender panel to see whether there's something more suitable available for your situation. Get in touch with our team to find out more.

• How do I apply for a car loan through Armstrong's Finance?

  It's simple, either call us or submit the online application here on our website. It only takes a few minutes, it's obligation-free, and it won't affect your credit score. Once you're happy with your quote, we will process your full application with you. We'll ask for proof of income and ID, and our team will take it from there. Subject to responsible lending criteria and lender assessment, funds can be processed the same day if approved.

General

5 FAQsquestions

• What is the difference between a secured vs unsecured loan?

  A secured loan uses an asset like a car or property, as security against the loan. If you default on repayments, the lender might be entitled to repossess that asset. 
  An unsecured loan requires no asset as security. If you miss payments, your property is not at risk, though fees and charges may still apply.
  Armstrong's Finance works with lenders offering both secured and unsecured options. We'll help you find the structure that best suits your situation.

• What if I have bad credit? 

  We work with a panel of different lenders, and every application is assessed on its own merits. Even if you've had bad credit in the past, it's still worth applying. We'll do our best to find a solution that works for your individual situation.

• How do I know Armstrong's Finance is acting in my interest?

  As a registered credit broker, we have legal obligations under the Financial Markets Conduct Act 2013 and the Responsible Lending Code to act in your best interests and provide advice that is suitable for your circumstances. We compare options across our lender panel and recommend the option we consider most suitable for you. We are remunerated by way of commission paid by lenders. Full details of our fees and how we are remunerated are set out in our Disclosure Statement, available on our website and on request free of charge. 

• What if I have a complaint?

  We're committed to resolving any concerns quickly and fairly. If you're not satisfied with our service, please contact us directly in the first instance. If we are unable to resolve your complaint to your satisfaction, you can refer it to [DISPUTE RESOLUTION SCHEME PLACEHOLDER, e.g., Financial Services Complaints Ltd (FSCL) or Financial Dispute Resolution Service (FDRS)], our independent dispute resolution provider. This service is free of charge to you. Details are set out in our Disclosure Statement and on our Complaints page. 

• Can I apply if I'm self-employed? 

  Yes. We work with self-employed applicants regularly. You'll need to provide evidence of income (such as bank statements or tax returns), and we'll find the lender on our panel that suits your situation. 

Eligibility

7 FAQsquestions

• Who can apply?

  To apply for a loan through Armstrong's Finance, you'll need to:

  • Be 18 years of age or older
  • Be a New Zealand citizen, permanent resident, or hold a valid NZ work visa
  • Have a regular, verifiable income
  • Have a valid New Zealand bank account
  • Have a valid form of ID (driver's licence or passport)
  • Meet our credit assessment criteria

  Every application is assessed individually. If you're not sure whether you qualify, get in touch and we'll talk you through it.

• What do you need from me to apply?

  The application is straightforward. Here's what we'll ask for:

  • Your personal details
  • Your employment and income details
  • Your monthly expenses
  • Your bank account details and a 90-day bank statement
  • A copy of your government-issued ID (driver's licence or passport)

  Having these ready before you start will help speed things up.

• I’m currently unemployed, can I apply for a loan?

  Absolutely. If you're currently unemployed, you're still welcome to apply. Get in touch with our team and we'll chat about your situation to see what options might be available for you.

• I’m self-employed, can I apply for a loan?

  Absolutely. We work with self-employed applicants and sole traders. We'll ask for evidence of your business income, such as bank statements or financial accounts, to verify your cash flow as part of the assessment.

• I’m on a working holiday visa, can I apply for a loan?

  Usually, you'll need to be a New Zealand citizen or permanent resident to apply. But there are some exceptions, so if you're on a working holiday visa, reach out to our team. We're happy to chat and see if we can help.

• Why do you need my bank statements?

  Under the Credit Contracts and Consumer Finance Act 2003, we're required to assess whether a loan is suitable for you before proceeding. Your bank statements help us understand your income and expenses so we can make a responsible lending assessment.

  We'll need three months of bank statements, which you can send through to our team as part of your application.

• What type of identification can I provide?

  You just need a current New Zealand driver's licence or passport as your ID. That's it.

Marine Loans

4 FAQsquestions

• Can I get a boat loan for a used vessel?

  Yes. Our boat loans cover both new and used vessels. Whether you're buying from a dealer or a private seller, the funds are deposited directly into your account so you can complete your purchase.

• Can I finance a jet ski with a boat loan? 

  Absolutely. Jet skis, personal watercraft, and other fun vessels are all covered. If it floats and you want to finance it, we can help you find the right loan.

• Can I include trailer and accessory costs in my boat loan? 

  Absolutely. Your boat loan can cover more than just the boat. Trailers, safety gear, navigation equipment, registration, insurance, and other accessories can all be included in one easy loan.

• Do I need a boat licence to apply? 

  No boat licence or operator's certificate is needed to apply for a loan. If you plan to use your vessel on the water, you might need a Maritime NZ qualification, depending on the type of boat and how you'll use it. We recommend checking with Maritime New Zealand to make sure you have everything you need.

Medical Loans

7 FAQsquestions

• Can I use a medical loan for cosmetic procedures?

  Absolutely. You can use a medical loan for a wide range of cosmetic procedures, including dental work, laser eye surgery, breast augmentation, and more. If you have a specific treatment in mind, let us know and we’ll help you find a loan that fits your needs.

• What is a medical Loan?

  A medical loan is a type of personal loan that helps you pay for healthcare costs. You can use it for anything from planned treatments to unexpected medical bills. Because it's unsecured, you won't need to use your home or car as security.

• What can I use for a medical loan?

  Absolutely. You can use a medical loan for all sorts of healthcare needs, including:
  - Medical procedures or elective surgery
  - Dental treatments, such as implants or braces
  - IVF or other fertility treatments
  - Mental health support or therapy sessions
  - Physio or rehabilitation programs
  - Ongoing medical care or prescriptions

• Can I use a personal loan for nose surgery?

  Absolutely. You can use a personal loan to cover nose surgery, including the procedure itself and any related costs.

• Can I get a loan if I'm considering nose surgery for cosmetic purposes?

  Yes. You can use your loan to cover the cost of nose surgery or other cosmetic procedures.

• Can I use a personal loan to cover gastric sleeve surgery?

  Yes. You can use a personal loan to cover gastric sleeve surgery, including the procedure itself, hospital fees, follow-up care, and any other related costs.

• Can I use a personal loan to cover the cost of dental surgeries?

  Absolutely. You can use a personal loan to cover dental surgeries, whether it's for implants, orthodontics, wisdom tooth removal, or any other dental procedure, cosmetic, restorative, or medically necessary.

Debt Consolidation Loans

4 FAQsquestions

• Will debt consolidation save me money?

  It really comes down to your current interest rates, the new rate you qualify for, and how long you want to take to pay off your loan. If you’re rolling together high-interest debts like credit cards, you’ll often save money on interest with a consolidation loan. Just keep in mind that choosing a longer loan term can sometimes mean you pay more overall, even if the rate is lower. We’ll crunch the numbers for you before you apply, so you’ll know exactly what to expect and can make the best choice for your situation.

• Will consolidating my debt affect my credit score? 

  Getting a quote through Armstrong's Finance does not affect your credit score. A full credit check is run only after you proceed with a formal application, and we'll let you know before it happens. Paying off existing debts and closing accounts can have a short-term impact on your credit score, but consistent repayments on your new consolidated loan can help rebuild it over time. 

• Do I have to consolidate all of my debts? 

  Not at all. You get to decide which debts you want to include in your consolidation loan. Some people roll all their debts together, while others just focus on the ones with the highest interest and leave the rest out. We're here to help you figure out what works best for you.

• Can I add more debt to my consolidation loan later?

  No, you can't add more debt to your consolidation loan once it's been approved. If you take on new debt later, you'll need to handle that separately. That's why it's a good idea to have a plan in place for managing your finances after you consolidate.

Wedding Loans

4 FAQsquestions

• What is a wedding loan?

  A wedding loan is a personal loan designed to help you cover the costs of your big day, so you don't have to dip into all your savings. You can use it for anything from booking your venue and paying deposits to covering last-minute details. Wedding loans can also help with proposals, engagement parties, honeymoons, or any other special moments along the way.

• What can a wedding loan be used for?

  You can use your wedding loan for just about anything, from venue hire and catering to styling, entertainment, wedding attire, travel, and more. Whether it's flowers, photography, or even the honeymoon, your loan can help cover the costs that matter most to you.

• How much can I borrow for a wedding?

  The amount you can borrow depends on your individual circumstances and the lender's critera. When working out how much to borrow, it's important to consider your repayment capacity and not borrow more than you comfortably need. We'll talk you through your options so you can make an informed decision.

• Can I apply for a wedding loan if I'm self-employed? 

  Absolutely. The amount you can borrow for your wedding will depend on your situation and what the lender requires. We'll help you look at your budget and make sure you only borrow what you feel comfortable repaying. Our team is here to walk you through your options so you can choose what works best for you.

Travel Loans

3 FAQsquestions

• How much can I borrow for a holiday?

  The amount you can borrow for a holiday depends on your personal situation and what the lender requires. We'll help you look at your budget and repayment options, so you can choose a loan amount that feels right for you. Our team is here to guide you every step of the way.

• Can I use a travel loan for a domestic holiday in New Zealand?

  Absolutely. Travel loans are great for more than just overseas adventures. If you're heading off on a South Island road trip, relaxing in Queenstown, spending a weekend in the Coromandel, or planning any kind of holiday around New Zealand, a travel loan can help with costs like accommodation, transport, activities, and more.

• Is it better to use a travel loan or a credit card for a holiday?

  It really comes down to what works best for you. With a travel loan, you get set repayments and a clear finish date, which can make it easier to plan your budget compared to a credit card. You might also find the interest rate is lower, depending on your credit history. We recommend looking at both options to see which one fits your needs. If you want to chat about what could work for your holiday, we're here to help.

Pet Loans

5 FAQsquestions

• Can I get a loan for pet surgery?

  Yes. You can use a personal loan to cover the cost of pet surgery, whether it's an emergency, a routine operation, or a specialised treatment. The funds are flexible, so you can pay for the procedure and any related medical expenses.

• Can I use the loan for non-surgical pet care?

  Yes. You can use your loan for a range of pet care expenses, including vet visits, vaccinations, medications, or treatments. As long as it's for your pet's health, we've got you covered.

• Can I get a pet loan for an emergency vet bill?

  Absolutely. Covering an emergency vet bill is one of the main reasons people use a pet loan. We know unexpected vet visits can happen at any time, and you may need funds fast. If your application is approved and meets our lending criteria, we aim to have the money in your account the same day so you can get your pet the care they need right away.

• Does it matter what type of pet I have?

  Not at all. Whether you're covering treatment for a dog, cat, horse, rabbit, bird, or any other animal, a pet loan works the same way. It's a personal loan paid directly to you, how you use it with your vet is entirely up to you. 

• Can I use a pet loan if I already have pet insurance?

  Absolutely. You can use a pet loan even if you already have pet insurance. If your insurance doesn't cover everything, there's an excess to pay, or your claim is taking a while, a pet loan can help cover the difference so your pet gets the care they need, when they need it.

Renovation Loans

5 FAQsquestions

• Can I use a renovation loan for landscaping?

  Absolutely. Landscaping is a common reason people use renovation loans. Whether you're planning a new garden, installing irrigation, building retaining walls, or creating an outdoor living area, a renovation loan can help cover the costs if it improves your property.

• Do I need to provide quotes or invoices from tradespeople?

  No need to provide contractor quotes when you apply. The funds will be paid straight into your account, so you can pay your tradespeople as you go. We do recommend having a rough idea of your project costs though, so you can pick the right loan amount for your needs.

• How much can I borrow for home renovations?

  Whether you're dreaming of a brand new kitchen or just updating your bathroom, we can give you a personal quote to show how much you could borrow and what your repayments might be. It's a simple way to see what fits your budget before you get started.

• Can I finance a kitchen renovation with a personal loan?

  You can use a personal loan to cover your kitchen renovation, whether that's for new appliances, hiring contractors, design services, or any other related expenses.

• Can I use a personal loan for a bathroom renovation?

  Yes. You can use a personal loan to cover all sorts of bathroom renovation costs, from design and plumbing to tiling, contractors, and anything else you need.

Motorbike Loans

5 FAQsquestions

• Can I get a loan for a used motorbike?

  Yes. Our motorbike loans cover both new and used purchases. Whether you're buying from a dealer or a private seller, the loan works the same way.

• Can I finance a scooter or Vespa?

  Absolutely. Scooters, mopeds, and Vespas all qualify. Whether you need something practical for your daily commute or want a classic ride for the weekend, we can help you find the right loan.

• Can I include riding gear and accessories in the loan?

  Absolutely. You can include helmets, jackets, gloves, boots, and other safety gear in your loan, right alongside the bike. Registration, WOF, insurance, luggage, and other accessories can all be covered too, so everything's sorted in one simple loan.

• Do I need a motorbike licence to apply?

  No motorbike licence? No problem. You don't need one to apply for a loan. You'll just need the right New Zealand licence before you hit the road. If you're still working on getting your licence, you can still go ahead and apply.

• Can I get a motorbike loan if I'm a first-time rider?

  Yes. If you're a first-time rider, that's no problem at all. We look at your financial situation, not your riding experience. Whether this is your first bike or your fifth, we'll help you find a loan option that fits.

Motorhome Loans

4 FAQsquestions

• Can I get a loan for a used motorhome or campervan?

  Absolutely. We can help with loans for both new and used motorhomes or campervans. It doesn't matter if you're buying from a dealer, a private seller, or a motorhome specialist, the process is just as simple.

• Can I finance a caravan or fifth-wheeler?

  Absolutely. Caravans, fifth-wheelers, and slide-ons all qualify, just like motorhomes and campervans. If it’s a home on wheels and you need finance to buy it, we can help find a loan that suits you.

• Can I use the loan to cover upgrades and off-grid equipment?

  Yes. You can include solar systems, lithium battery banks, off-grid power setups, awnings, annexes, and other upgrades in your loan, along with the purchase price. This way, you can get everything sorted at once, instead of having to organise upgrades separately later on.

• Can I get a loan for a campervan conversion or self-build?

  Yes. If you're converting a van or building your own custom camper, a personal loan can help cover everything from materials to fit-out costs.You don't need to buy from a dealer, the funds are paid straight to you, so you can use them however you need for your project.

Equipment Loan

4 FAQsquestions

• Can I get an equipment loan for used machinery?

  Absolutely. We can help with equipment loans for both new and used machinery. It doesn't matter if you're buying from a dealer, an auction, or a private seller, the loan works the same way.

• Can I use an equipment loan to buy a truck or trailer?

  Yes. Trucks, utes, heavy commercial vehicles, and trailers all qualify. If you need it for your business or daily work, an equipment loan can help you get it sorted.

• Can farmers apply for equipment finance?

  Absolutely. We regularly work with farmers, growers, and agricultural operators all the time. Tractors, harvesters, irrigation equipment, farm vehicles, and implements all qualify for finance. If you're self-employed or run your farm through a business, we'll help you find lenders who understand your income setup.

• Can I get finance for construction equipment?

  Yes. Excavators, loaders, compactors, plant equipment, and other construction machinery all qualify. Whether you're a sole trader or running a bigger team, we can help find a finance option that fits your needs.

Refinancing Loans

3 FAQsquestions

• Will refinancing save me money?

  It really comes down to your personal situation. If you refinance to a lower interest rate and keep your loan term about the same, you could save money overall. But if you stretch out your loan for much longer, you might end up paying more in interest, even with a lower rate. We’ll always show you the full cost of your new loan upfront, so you can easily compare it to what you have now.

• Can I refinance a car loan?

  Absolutely. If your current car loan isn't quite working for you anymore, you can refinance it. This means taking out a new loan to pay off your existing one, often with a better rate or repayment plan. The process is straightforward and works just like refinancing any other personal loan.

• What does it mean to refinance a personal loan?

  Refinancing a personal loan is when you swap your current loan for a new one, usually with better terms. You might get a lower interest rate or a repayment plan that suits you better. This can help lower your monthly payments or help you pay off your loan sooner.

Application Process

5 FAQsquestions

• Will you be contacting my employer?

  No, we won't contact your employer during your application. Your privacy is important to us, so you can apply with confidence.

• Can I apply for a loan in a branch?

  We operate entirely online, so you can apply whenever it suits you by heading to our website and clicking 'Get a quote' or 'Apply now.' If you need a hand with your application, just give us a call during business hours and our friendly team will be happy to help.

• How much can I borrow?

  The amount you can borrow depends on your individual circumstances, including your income, expenses, and credit profile. Every application is assessed on its own merits. Get a quote to see what may be available to you.

  Use our borrowing power calculator to get an estimate and then talk to our team. 

  Please note: the calculator provides an estimate only. Other fees, costs, and charges may apply. This is not an offer of credit. Your actual rate and borrowing amount will be confirmed once your application has been assessed. Interest rates are variable and subject to change.

• Can I get an estimate of my repayments if I apply for a loan?

  Yes. Head to the Tools section of our website to use our repayment calculator and get an estimate based on your loan amount and term.

  Please note: the calculator provides an estimate only. Other fees, costs, and charges may apply. This is not an offer of credit. Your actual rate and borrowing amount will be confirmed once your application has been assessed. Interest rates are variable and subject to change.

• Does checking my rate affect my credit score?

  No. Getting a quote through Armstrong's Finance won't affect your credit score. A full credit check is only run once you choose to proceed with a formal application.

Repayments

4 FAQsquestions

• What if I run into financial difficulty and can't make repayments?

  Life doesn't always go to plan. If you're struggling to meet your repayments, please get in touch as soon as possible. Under the Credit Contracts and Consumer Finance Act 2003, you have the right to apply for a hardship variation, which may allow you to reduce or temporarily suspend your repayments. The sooner you reach out, the more options we have. See our Financial Hardship page for more information.

• I’m struggling with payments.

  We're here to help. If you're finding it hard to keep up with repayments, please reach out to our payments team as soon as you can. Under the Credit Contracts and Consumer Finance Act 2003, you have the right to apply for a hardship variation. The sooner you get in touch, the more options we have. See our Financial Hardship page for more information.

• Can I extend my repayment term?

  Absolutely. Your repayment term is set when your loan is approved, but we understand things can change. If you need to look at extending your term, just reach out to our payments team, and we'll talk through your options together.

• How do I defer or reschedule my repayment?

  Easy. If you need to defer or reschedule your repayment, just contact our payments team and we'll help sort it out for you.