Avanti Finance's core business is personal loans, debt consolidation loans and car loans. ​If you are a New Zealand citizen and over 18 years old, you can apply to borrow any amount between $1,000 and $50,000 for a maximum of five years. The loans can be secured or unsecured. 

Know this: If you get a personal loan with Avanti Finance, a number of fees apply. These will be provided to you before you enter the loan, but you can also check them out on their website.

Understand the fees charged upfront (and ongoing)
In addition to the interest rate you will pay, there are several fees for any personal loan, including car finance and debt consolidation. This PDF details them all on page one. In summary, the main fees are as followed:

1. Loan Establishment Fee: Secured Loan up to $50,000 ($325) and over $50,000 ($595), Unsecured Loan up to $10,000 ($195) and over $10,000 ($245). 
2. Caveat/Security registration and release (for secured loans): $226 (or the costs incurred by the third party) are charged at the start and end of the loan.
3. Loan Administration Fee: $10/month (charged to cover the administration of a loan and processing payments)
4. Default interest rate: You'll be charged an additional 20% p.a. on top of your current interest rate if you default (although it applies only to the missed payment, not the total outstanding home loan balance). 
5. Early repayment fee: $95 if you pay off a loan off in full before its due date.
6. And, if you arrange a loan through a broker, then there will also likely be a broker fee.
   

Avanti Finance offers mortgages, primarily aimed at anyone who can't get an approval from a bank or credit union. Unlike a bank lender, there are two interest rates which are added together and become your interest rate. 

Understand the interest rate you'll pay

• The interest rate is the sum of Avanti Finance's "Variable Interest Base Rate" plus "Margin".
• Today, the Variable Interest Base Rate is 5.35% per annum, and the Margin is between 0.00% - 5.20% per annum.
• This means you'll pay a minimum 5.35% p.a. You may pay a margin on top, and how much will be determined by reviewing your loan application and assessing your personal financial circumstances. This will be disclosed to you before you enter the loan.

Understand the fees charged upfront (and ongoing)
There are several fees for any mortgage - this PDF details them all on page two. In summary, the main fees are as followed:

1. Loan Establishment Fee: $795 (charged for processing and approving a new loan application)
2. Loan Administration Fee: $10/month (charged to cover the administration of a loan and processing payments)
3. Default interest rate: You'll be charged an additional 5% p.a. on top of your current interest rate if you default (although it applies only to the missed payment, not the total outstanding home loan balance). 
4. Brokerage fee: Unless you go direct to Avanti Finance, there will be a brokerage fee as well.

Avanti Finance is not an insurance provider but it does offer insurance to existing customers via Autosure, which customers can choose to take, or find their own. They offer three insurance policies which can protect you when things go wrong. These include:

Avanti Finance offers three insurance policies which can protect you from defaulting on a loan. These include:

• Payment Protection - insurance that takes care of regular loan repayments if you have an accident, become bankrupt, or are made redundant from permanent employment, or die. You're covered for your loan balance or $200,000, whichever is less.
• Mechanical Breakdown - this insurance protects you against a sudden and unforeseen failure of a wide range of mechanical and electrical parts. The insurance takes care of the cost to repair the actual failure of mechanical or electrical parts as a result of a sudden and unforeseen breakdown. However, there are plenty of exclusions, so you'll need to read the policy carefully to see what exactly you will be covered for.

• GAP Insurance - this cover is activated if you have a car accident. It pays off the remaining balance of your loan if your car insurance doesn’t cover the full amount. For example, you receive $8,000 from your car insurance company, but the balance of the loan is $10,000. Without GAP insurance you'll be left owing $2,000 to Avanti Finance.

We have not been able to review policy prices; these will vary based on the applicant's personal details (age, health, loan size and, for mechanical breakdown and GAP, the specs of the vehicle).

In any instance, we suggest looking at a range of policies to and get the right cover at the right price for your needs. We suggest starting with these guides:

• Car Insurance
• Contents Insurance
• Mortgage Insurance