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FAQs

Find out more about vehicle finance, and if you need more info don't hesitate to get in touch.

How do I apply for a loan?

It’s easy. You can apply online, over the phone or in person. We are open Mon-Fri 8:30am-5pm. After these hours we have an answer service and applications will be looked at the following business day.

How long does it take to get a loan approved?

It’s all in our name! Provided you’ve given us all the details we can let you know if your loan has been approved within 90 minutes of processing your request.

How long does it take to get the money?

Once your loan is approved, and documentation signed, the money is available in your bank account the next business day. If you need money urgently we have a same-day money service for a small charge.

How can I make loan repayments?

You can make weekly, fortnightly or monthly payments via direct debit. These payments can be on a regular date that suits you. Repayments for loans secured against assets such as vehicles can be structured up to 4 years, and up to 5 years for loans secured against property or land.

I have bad credit history. Can I still apply?

At Zoom you don’t need a perfect credit history. While there’s never 100% certainty of being approved, we look for reasons to say ‘yes’ to your loan rather than ‘no’. However, we are unable to lend to anyone who is currently bankrupt or who has recently filed a ‘No Asset Procedure’.

Do I need security for a loan?

Yes, all Zoom loans are secured. While we usually use the car you’re buying as security you can use other suitable assets or motor vehicles that belong to you, a joint borrower or a guarantor if you prefer.

How much can I borrow?

You can borrow between $400 - $20,000 on secured loans. Quite simply, the loan you are approved for is dependant on two things – the value of the security you can offer and what you can easily afford to repay.

Will it cost me if I pay the loan back early?

In most cases you will be charged our standard $40 early settlement fee. If your Zoom loan is nearly complete this charge may be waived.

Are there any surprises in the small print?

No. We make sure everything is up-front with our customers. We go over the terms of the contract with you before you sign to make sure everything is understood clearly and we welcomee any questions you may have.

How old do I have to be to apply for a loan?

18 years old is the minimum age to enter into a contract. Generally we will require a suitable  guarantor up to age 21.

What is a Guarantor?

Here’s the Oxford Dictionary definition: guarantor – noun – a person or thing that gives or acts as a guarantee. A Guarantor is basically someone who will be able to sign documentation confirming they will be able to meet your financial commitments if you are unable to.

Do you offer insurance?

Yes, we have currently three forms of insurance - Payment Protection Plan (PPP), Vehicle Insurance and Mechanical Breakdown Warranties.

Do I need to have a job to apply for a loan?

No. We do, however, make sure you can afford the repayments. We welcome everyone to apply, including the self-employed, full and part-time workers, seasonal workers, superannuitants, beneficiaries and low income earners.

What can I use as identification?

Two forms of ID are required – One Photo ID (Drivers Licence, Passport, Firearms Licence, 18+ card) along with a secondary ID (such as a Bank Card, Credit Card or Debit Card). If purchasing a vehicle, or using a vehicle as security, a minimum of Restricted Licence is essential.

What can I borrow money for?

Kiwis require extra funds from time to time and for any number of reasons – could be you need money for a long awaited holiday, extra cash to finish home renovations, those unexpected vet bills or just short of cash, no purpose is too unusual!

Can I buy a car with a learners licence?

Yes, you can legally. However the criteria for our loans are strict – you must have a minimum of a Restricted Licence.

Current Promotion

If you are an existing customer and you refer someone you know to Zoom car loans, we will credit your account $50

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