Car Loan FAQs

Frequently asked questions about UDC Consumer Car Loans.

How Can I apply?

You can apply via our online application or via phone 0800 500 832

How long will the application take?

The online application or phone application will take approximately 15 minutes.

How long will it take to get a decision

For online applications we aim to have a decision within a day and for phone applications we can sometimes have a decision straight away.

What security do I have to provide?

Generally the car being purchased, is used as security for the loan.

What information do I need to supply?

After completing the application with your personal and financial information we may ask you to provide evidence of your identity, address and income.

How much can I borrow?

UDC’s minimum amount is $10,000. You can use our online calculator to estimate repayments to ensure they are affordable for you.

Do I need a deposit?

Not always, UDC can consider finance up to 100%.

Can I buy a vehicle privately?

Yes, and we can finance vehicle purchase through auctions such as Trade Me.

What are the rates and fees?

Rates are determined on the strength of your application our fees are detailed here.

Who can I talk to if I have any questions before making an application?

Call us on 0800 500 832 or complete our enquiry form and one of our representatives will contact you.

What happens if I pay my loan in full early?

If you repay your loan in full before the final payment, then two types of fees are charged:

To find out more information on early repayment fees, please refer to the following fact sheet.

What happens if I default under the agreement

Under the agreement you have certain obligations to meet, including the obligation to make regular payments. UDC has a security interest in the vehicle that it has financed for you. If you fail to meet your commitments under the agreement, UDC may be entitled to repossess and sell your vehicle. If the sale of the vehicle does not cover your outstanding debt to UDC, you will remain liable for the shortfall. Other fees may apply if you fail to meet your commitments under the agreement. These can be found on our Fees, Rates and Document page.

Let us know if you’re having trouble paying. The sooner you let us know the better. Call us on 0800 500 832 - whatever the reason, we want to help.

What should I do if I change my address?

You can simply update your details online or contact us on 0800 500 832.